Australia Construction Sector Growth Slows In October

Australia's construction sector continued to expand in October, though at a slower rate, the latest survey from the Australian Industry Group, or AiG, revealed on Friday.

The AiG performance of construction index fell to 53.4 in October from the nine-year high of 59.1 in September.

This marked the fifth consecutive month of expansion. A reading above 50 signals expansion in the construction sector.

Among the sub-indices, new orders, construction activity and deliveries from suppliers increased at a slower rate in October.

Employment levels also rose for the fourth straight month, but at a slower rate.

Among the sub-sectors, House building and commercial construction advanced at a slower rate. Apartment building continued to increase at a solid rate and was unchanged from the previous month.

However, Engineering construction declined at a steeper rate in October.

by RTT Staff Writer

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Australia Construction Sector Growth Slows In October