Home / Forex Analysis / Australia Construction Work Falls 2.6% In Q3

Australia Construction Work Falls 2.6% In Q3

The total value of construction work done in Australia was down a seasonally adjusted 2.6 percent on quarter in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday – coming in at A$51.179 billion.

That missed expectations for a fall of 2.0 percent following the 0.7 percent decline in the previous three months.

On a yearly basis, the value of construction was down 4.2 percent.

Building work was down 2.0 percent on quarter and 7.2 percent on year at A$28.971 billion.

Residential work was down 1.0 percent on quarter and 8.9 percent on year, while non-residential work fell 3.4 percent on quarter and 4.5 percent on year. Engineering work sank 3.3 percent on quarter but gained 0.1 percent on year.

The material has been provided by InstaForex Company – www.instaforex.com