Date Time
Australian PCI: Construction expansion hit with high prices and capacity squeeze
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) fell by a further 2.8 points to 55.5 in June, trending lower after hitting a record high in March (readings above 50 indicate expansion in activity, with higher results indicating a faster expansion).
Current activity in housing, engineering and commercial construction remained strong in June (trend), but the deceleration from recent highs confirms that growth rates are slowing.
Ai Group Head of Policy, Peter Burn, said: “Australia’s construction industry continued its run of strong growth in June but the pace of expansion is slipping as it faces capacity constraints and rising input prices. Activity across house building, engineering construction and commercial construction rose in June while activity in the apartment sector slipped back after a brief recovery. Emp
Australian Construction Sector Expansion Slows After Hitting the Peak
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New home sales return to growth in May
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New home sales up despite HomeBuilder end AAP 1 hour ago Colin Brinsden, AAP Economics and Business Correspondent © Mick Tsikas/AAP PHOTOS The end of the Homebuilder scheme had little impact on new home sales, which rose 15.2 pc in May.
New home sales jumped by 15.2 per cent in May, aided by low interest rates and despite the absence of the federal government s successful HomeBuilder program.
Combined with April, sales were 2.9 per cent higher than the same period in 2019 - prior to the pandemic and the introduction of the HomeBuilder grant scheme, the Housing Industry Association says. This solid level of sales in April and May indicates ongoing demand for new detached homes, even in the absence of stimulus, HIA economist Tom Devitt says.