Data due from at 0030 GMT along with Q4 Wage Price Index
Q4 Construction Work Done
- expected -10.0% q/q, prior +15.7%
I posted a preview here (via NAB) yesterday
And further previews of the data here earlier:
This now via:
We believe construction fell sharply in Q4, but it's not all bad news.
- The fall in measured work done will be because of the absence of further LNG platforms arriving in Australia, after the Ichthys and Prelude projects imported over AUD20bn of work over the previous six months.
- The expected fall in Q4 construction will be offset by an equivalent reduction in imports, thus the impact on GDP will be negligible.
Outside the mining sector, we anticipate an increase in dwelling construction, and further strength in public investment - both nonresidential construction and engineering construction such as roads and rail.
And, ICYMI ...
Also due at 0030 GMT - Wage Price Index for Q4 2017:
- posted previews here (via NAB)
- ANZ, CBA and TD ... Wages data from Australia today is a big focus - previews
- Westpac and Barclays ... Q4 Wages data from Australia today is a big focus - more previews