The AIG/HIA Australian Performance of Construction Index increased to 45.6 in March 2019 from 43.8 in the previous month. The reading pointed to the seventh consecutive contraction in construction activity, still the weakest since October, as new orders shrank at a softer pace. Also, the job creation rate and supplier deliveries were almost unchanged. On the price front, input price inflation moderated and output cost fell at a slower pace. Across construction sectors, apartment building was the weakest performing area of activity, contracting for the twelfth straight month. Construction Pmi in Australia averaged 46.41 Index Points from 2005 until 2019, reaching an all time high of 60.50 Index Points in July of 2017 and a record low of 29.24 Index Points in December of 2008.
Construction Pmi in Australia is expected to be 45.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Pmi in Australia to stand at 53.00 in 12 months time. In the long-term, the Australia Construction PMI is projected to trend around 50.00 Index Points in 2020, according to our econometric models.