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Australian Construction Index Hits 9-year High

Australian construction activity expanded at the fastest pace in nine years in September led by a boom in housing and a recovery in commercial building, according to a survey out on Tuesday.

The overall index of construction activity jumped 4.1 points to 59.1 in September, yet further above the 50 threshold that separates growth from contraction, the report by the Australia Industry Group and Australian Housing Association showed.

This led to the highest rates of increase in employment and deliveries from suppliers since the survey began in September 2005, AIG said.  “Continuing strength in house and apartment building and a consolidation of improved conditions in commercial construction outshone a further, modest contraction in engineering construction,” said AIG director of public policy, Peter Burn.

Reuters [1]

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