AIG Performance of Construction index for December, 44.4
- prior was 45.4
The Ai Group/HIA Australian Performance of Construction Index (Australian PCI) – Key Findings summary:
- The construction activity (down 2.9 points to 44.5 points), new orders (up 2.1 points to 46.1 points) and deliveries from suppliers (down 1.7 points to 48.4 points) sub-indexes all contracted
- Activity in all four industry sub-sectors contracted in December
- After dropping steeply in November, the construction employment sub-index fell a further 2.1 points to 39.9 points
- Growth in wages continued however, with the wages sub-index relatively steady at 58.0 points
Pressures on profit margins remain …
- Input costs remained elevated
- Selling prices dropped … reflecting fierce price competition as builders seek to secure work in a very competitive market
–
We got the the manufacturing (46.9) and services (47.5) PMIs for December earlier in the week.
Construction PMI today rounding out the trio of contractions.
I just Googled ‘outlook for the Australian economy’ and this is what I got …
True … never a word of a lie
