Construction Work Done, Australia, Preliminary, Dec 2013
- The seasonally adjusted estimate for total construction work done fell 1.0% q/q, to $53,101.1m, in the December quarter (expected +0.2%,)
- prior was +2.7%
- private new residential building down 2.5%
- Private non-residential building activity disappointed, down 2.8%
- Public construction rose 2.5%
Below expectations – but look also at the break-down into sectors. The RBA wants to see a transition in the economy, especially into residential construction … but not getting much support for that in these figs. today.
