AIG Performance of Construction index for October

A small move higher from 51.9 in September to 52.1 in October

Expanded for third consecutive month

  • Across the four sub-sectors in the Australian PCI, apartment building activity drove growth in industry conditions in October ... The sector's activity sub-index expanded for a fifth consecutive month and at the steepest pace in the ten years since the start of the survey in September 2005
  • House building activity weakened in October, returning to negative territory for the first time in five months
  • Commercial construction also declined, although conditions in this sector moved close to stabilization
  • Engineering construction remained the weakest performing area of construction activity
  • Across the construction industry, new orders and employment both showed stronger growth in October

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Not an immediate FX market mover, and pre the NFP the focus will be on RBA communications today: Economic data and RBA due from Australia today

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Earlier in the week we got:

Australia data - Manufacturing PMI (October): 50.2 (prior 52.1)

  • fourth consecutive m/m expansion

Australian data - Services PMI 48.9 (prior 52.3)

  • contraction after four months of expansion