Australia August Performance Of Construction Index Up 2.9 Points To 42.4

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Monday, the Australian Industry Group - Housing Industry Association announced that Australia's Performance of Construction Index rose 2.9 points to stand at 42.4 in August compared to the 39.5 reading in July. A reading below 50 means the construction sector is still in contraction.

Engineering construction recorded the largest fall in August, down 3.2 points to 31.8. However, Apartment building fell for the nineteenth consecutive month, though at a much slower pace, with the index rising 15 points to 44.4.

Commercial building registered its sixteenth decline in the past 18 months, recording 39.6 in August.

(Market News Provided by RTTNews)