MNI: Australia Q4 Construction Sharply Dn;Dwelling Falls Again

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By Sophia Rodrigues

     SYDNEY (MNI)  - Construction work done fell sharply in Q4 reversing most of

the gain in the previous quarter, with the volatility caused mainly by imported

LNG platforms. Outside of this, the data showed dwelling construction will make

no contribution to GDP growth for the fourth quarter in row but non-residential

construction continues to rise.

     Data published by the Australian Bureau of Statistics Wednesday showed

construction work done fell 19.4% q/q, thanks to a 35.4% fall in engineering

work.

     Private dwelling construction work fell 2.0% q/q, after a 0.3% fall in Q3.

The drop was mainly due to a 2.4% q/q fall in new dwelling construction which

offset the 0.5% q/q rise in alterations and additions.

     Overall the data was weaker than expected and outside the range predicted

by economists in MNI poll. Non-residential construction has been the key

outperformer, rising for the fifth straight quarter but the outcome may be in

line with the Reserve Bank of Australia's expectation.

     Below is the table: 

                               Private        Public                  Total

---------------------------------------------------------------------------

                          % Change Q/Q  % Change Q/Q           % Change Q/Q

Construction Work Done           -23.4          -2.1                  -19.4

MNI median                         N/A           N/A                  -13.5

                                                      (Range -17.1 to +5.0)

Building Work                     -0.4          +6.4                   +0.2

-Residential Building             -2.0           N/A                   -1.9

-Nonresidential Building          +3.4           N/A                   +4.0

Engineering                      -46.4          -4.5                  -35.4

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

[TOPICS: MTABLE,MALDS$,M$A$$$,M$L$$$,MT$$$$]