Australian construction work fell by 3.6% in Q4

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Wednesday, Feb 24 2016

The trend estimate for total construction work done fell 1.6% in the December quarter 2015. The seasonally adjusted estimate for total construction work done fell 3.6% to $48,413.4m in the December quarter. Analysts were expecting 2.1% decline. The trend estimate for total building work done rose 1.0% in the December quarter. The trend estimate for non-residential building work done rose 0.3% and residential building work rose 1.4%. The seasonally adjusted estimate of total building work done rose 2.7% to $24,990.2m in the December quarter.

Separate report on Wage Price Index showed that the trend index and the seasonally adjusted index for Australia rose 0.5% in the December quarter 2015, missing forecasts on 0.6% increase. The Private and Public sectors both rose 0.5% seasonally adjusted. The rises in indexes at the industry level (in original terms) ranged from 0.1% for Mining and Administrative and support services to 1.1% for Financial and insurance services.

Aussie is currently being traded around 0.7170 area. Pair is likely to find support around 0.7130 handle and resistance above 0.7250 level. Later today, in the US session, New Home Sales figures are scheduled for a release.

More in this category: « CB Consumer Confidence down to a six-month low BBA Mortgage Approvals rose more than expected »

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