RTTNews - Australia's construction work done recorded a decrease in the June quarter marking a second straight quarterly decrease, the Australian Bureau of Statistics reported Wednesday. However, construction work was up 5.4% compared to the year-ago period.
Construction work in Australia was down a seasonally adjusted 0.1% quarter-over-quarter, a slower rate of fall compared to the 2.2% fall reported in the March quarter. The quarterly decrease was smaller than economists' forecast of a 3% decline.
The total building work done dropped 5.7% from the previous quarter. Of this, non-residential building work witnessed a steep decline of 9.5%, while residential building work fell 2.6% in the June quarter.
The quarterly fall was partly offset by the engineering work done, which rose 5.7% in the June quarter, reversing the 2.1% decrease recorded in the last quarter.
The total construction work done in the June quarter was worth A$35 billion. Of this, the value of the building work done was A$16.8 billion, while the engineering work done was worth A$18.2 billion.
In terms of individual territories, Queensland recorded the most significant quarterly decline, down 4.3% in construction work. It was followed by New South Wales and Northern Territory, down 3.6% and 5.4%, respectively. On the other hand, South Australia showed the biggest rise in the June quarter, up 12%, while Western Australia was up 11.3%.
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