Catherine Birch, senior economist at ANZ, notes that construction activity in Australia fell 0.4% q/q in Q3 2019 to be down 7.0% y/y and was the smallest decline since the downward trend began in Q3 2018. Key Quotes “Residential construction (-3.1% q/q) continued to fall although the Q2 result was revised up to -3.9% from -5.1%. The annual decline has stretched to -10.6%. New residential building fell 3.5% q/q while alterations and additions were flat at -0.1% q/q. New South Wales was responsible for almost three-quarters of the quarterly drop in total residential work done, but Victoria achieved a 1.5% q/q gain.” “Non-residential building jumped 4.0% q/q with both the public (+3.7% q/q) and private (+4.1% q/q) sectors contributing. Activity has been volatile in 2019, but the uplift in approvals looks to be starting to translate through to work done.” “The expected upturn in mining does not appear to be flowing through to work done numbers yet, with private engineering construction falling 4.6% q/q. Public engineering construction recorded a solid 6.4% q/q gain, but we still expect activity to dip in 2019-20 as some major projects wind down before others get underway.” “Construction work done is the first of the GDP partials. The better-than-expected result paints a slightly more positive picture for Q3 GDP growth (Wednesday 4 Dec).” 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 Thailand: Weak manufacturing opens door for more BoT easing – ING FX Street 3 years Catherine Birch, senior economist at ANZ, notes that construction activity in Australia fell 0.4% q/q in Q3 2019 to be down 7.0% y/y and was the smallest decline since the downward trend began in Q3 2018. Key Quotes "Residential construction (-3.1% q/q) continued to fall although the Q2 result was revised up to -3.9% from -5.1%. The annual decline has stretched to -10.6%. New residential building fell 3.5% q/q while alterations and additions were flat at -0.1% q/q. New South Wales was responsible for almost three-quarters of the quarterly drop in total residential work done, but Victoria achieved a 1.5%… 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.
