Andrew Hanlan, analyst at Westpac, notes that Australian construction activity downturn has extended into second half of 2019. Key Quotes “Construction work fell by 0.4% in the quarter (v’s an expected -1.0%) to be 7.0% lower over the past year and 10.1% below the peak of mid-2018.” “The housing sector has led the downturn, with the home building cycle swinging from boom-to-bust.” “New private home building activity slumped by another 3.4% in the quarter, meeting our expectations. Work is now 11.6% below that in June 2018.” “Home building work has further to fall, with the slump in approvals deepening in mid-2019. Approvals are down by more than 20% over the past year.” “The outlook is for some improvement in infrastructure. Commencements have picked-up (eg some iron ore projects have proceeded in response to the recent elevated prices) and the work pipeline has expanded – pointing to an emerging lift in activity during the year ahead.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next The Cryptocurrency Market Update: Bitcoin sits above $7,000 as the trading range is narrowing FX Street 3 years Andrew Hanlan, analyst at Westpac, notes that Australian construction activity downturn has extended into second half of 2019. Key Quotes "Construction work fell by 0.4% in the quarter (v's an expected -1.0%) to be 7.0% lower over the past year and 10.1% below the peak of mid-2018." "The housing sector has led the downturn, with the home building cycle swinging from boom-to-bust." "New private home building activity slumped by another 3.4% in the quarter, meeting our expectations. Work is now 11.6% below that in June 2018." "Home building work has further to fall, with the slump in approvals deepening in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
