Construction going Strong
By Giles Keay on 22 August 2017
Good news in the construction sector, with the Housing Industry Association Australian Performance of Construction Index increasing by 4.5 points to 60.5 points in July.
This showed signs of the strongest pace of the industries’ growth, since the survey’s commencement in September 2005. Further improvement in industry conditions reflected growing activity across all four major construction sectors. Commercial construction and residential home builds being the major areas of growth.
The level of expansion in commercial construction lifted to its highest level in 12 years amongst an increase in the number of projects beginning. House building recorded its fastest pace of growth in three and a half years.
Construction employment has risen for a third consecutive month. There was an increase of 4.8 points from June, indicating a faster rate of expansion in the month.