The Ai Group Australian Performance of Construction Index rose to 41.3 in January 2020 from 38.9 in the previous month. The reading pointed to a softer contraction in the construction sectors, as activity and new orders shrank at a slower pace. On the other hand, employment and deliveries from suppliers contracted at sharper rates. Across the sectors, house building expanded mildly, following stability in the previous two months, while activity across apartments, commercial and engineering construction sectors continued to shrink. There were positive reports from residential builders indicating that home buyer demand is being supported by low interest rates and an easing in bank lending restrictions. Meanwhile, other building businesses noted ongoing caution among prospective home buyers due to the slow and uncertain domestic economy. Concerns were expressed about strong competition for the available work and about bushfire-related disruptions to activity.
Construction Pmi in Australia averaged 46.13 points from 2005 until 2020, reaching an all time high of 60.50 points in July of 2017 and a record low of 29.24 points in December of 2008. This page provides the latest reported value for - Australia Construction Pmi - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Australian Industry Group
Construction Pmi in Australia is expected to be 42.50 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 49.00 in 12 months time. In the long-term, the Australia Construction PMI is projected to trend around 52.00 points in 2021, according to our econometric models.