Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Q2 completed construction work fell sharply, -3.8% Q/Q, sharply undershooting the BBG median estimate of +0.8%.
- This data feeds into the national accounts and is likely to provide a small drag on quarterly GDP growth.
- The weakness was broad-based across residential and non-residential construction.
- Residential building was the weakest component, falling 6.8% Q/Q and 7.6% Y/Y. This was the sharpest quarterly fall since 2000. The sector has been facing bottlenecks via supply-chain issues for materials and a shortage of workers.
- All states saw contractions when it came to completed construction work, particularly WA & Victoria, but both territories still posted strong rises in construction activity.
Australia: Real value of building work done Y/Y%
Source: MNI - Market News, ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok