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Australian PCI: Construction industry recovery strengthens into 2021
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) improved by a further 2.3 points to 57.6 in December 2020 and January 2021, indicating four consecutive months of positive conditions and the strongest result since July 2017 (readings above 50 indicate expansion in activity, with higher results indicating a faster expansion).
Three of the four sectors in the Australian PCI® recovered strongly in December and January with only the apartment sector still contracting and all four components of construction activity reported robust expansion, with a surging new orders index boding well for the months ahead.