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Australian Construction Work Done fell by 0.2%

Wednesday, Feb 22 2017
Australian Construction Work Done fell by 0.2%

The amount of work done fell 0.2 percent q/q in the fourth quarter of 2016. Economists expected a 0.5 percent gain ahead of the release. While disappointing relative to forecasts, this was a slower decline than the 4.4% contraction in the third quarter (revised upward from -4.9% originally reported).

Not only is the data a component of Australia’s GDP, but the Reserve Bank of Australia is also closely monitoring housing market conditions and has been doing so for some time. In its most recent monetary policy announcement, the central bank reiterated that their supervisory measures have strengthened lending standards.

More in this category: « Bank of England 'has improved' its economic forecasting German Business Confidence improved in January »

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