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Construction Work fell less than expected in December quarter

Wednesday, Feb 25 2015

The seasonally adjusted estimate for total construction work done fell 0.2% to $50,347.6m in the December quarter. However, this was significantly better form analysts predicitions on 1.2% fall. The worrying faactor is that this is the fifth consecutive quarter of decline. T otal building work done rose 0.4%, while engineering work done fell 0.6%.

Separate quarterly report on Wage Prices showed that the seasonally adjusted index for Australia rose 0.6% in the December quarter 2014, in line with market forecasts. The Private sector rose 0.6% seasonally adjusted, and the Public sector rose 0.7%. The rises in indexes at the industry level (in original terms) ranged from 0.2% for Accommodation and food services to 1.2% for Information media and telecommunications.

 

After the data Aussie was pushed slightly higher and was further supported by better than anticipated China's Manufacturing PMI figures currently being traded few points above 0.7880 level. Pair is likely to find support around 0.7830 level and resistance above 0.7930 area. Later today, in the US session New Home Sales figures are scheduled for a release.

More in this category: « CB Consumer Confidence fell in February China's Manufacturing PMI rose to above 50 level »

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