Construction plunges 3.8% in 2nd quarter

Construction work in Australia fell by a worse-than-expected 3.8 per cent in the June quarter, with the decline accelerating across both residential and non-residential sectors.

Total building work on homes dropped 5.1 per cent on the previous three months on a seasonally adjusted basis, while work on non-residential buildings fell by 6.6 per per cent, Australian Bureau of Statistics figures show.

Total value of work done fell to $48.78 billion for the period – down 11.1 per cent on a year ago – and well below economists’ expectations of a 1.0 per cent quarterly decline.

AAP

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