The construction sector in Australia continued to expand in February, albeit at a slightly slower pace, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Construction Index score of 57.4.
That’s down from 57.6 in January, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
All four sectors in the index recovered strongly in February. The housing activity index surged to a new record high and apartment building activity turned positive for the first time since February 2018, but commercial and engineering activity slowed from December’s peaks.
New orders for commercial and engineering projects turned negative in February, suggesting growth may slow again in coming month.
The material has been provided by InstaForex Company – www.instaforex.com