Australian Construction Work Done fell by 3.7%

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Wednesday, Aug 24 2016

The value of Australian construction work done fell unexpectedly in the last quarter, official data showed on Wednesday. In a report, Australian Bureau of Statistics said that Australian construction work done fell to a seasonally adjusted -3.7%, from -2.6% in the preceding quarter. Analysts had expected Australian construction work done to rise to -1.9% in the last quarter.

The trend estimate for total building work done rose 1.4% in the June quarter. The trend estimate for non-residential building work done rose 0.4% and residential building work rose 1.9%. The seasonally adjusted estimate of total building work done rose 1.2% to $25,959.6m in the June quarter. The trend estimate for engineering work done fell 5.1% in the June quarter. The seasonally adjusted estimate for engineering work done fell 9.0% to $21,459.4m in the June quarter.

Aussie is currently being traded 0.76 handle. Pair is likely to find support around 0.7580 area and resistance above 0.7650 level.

Last modified on Wednesday, 24 August 2016

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