Australia Construction Work Drops 3.6% In Q3

The total value of construction work done in Australia slipped a seasonally adjusted 3.6 percent on quarter in the third quarter of 2015, the Australian Bureau of Statistics said on Wednesday - standing at A$49.040 billion. That missed forecasts for a decline of 2.0 percent following the 1.6 percent increase in the second quarter. On a yearly basis, construction work was down 3.7 percent. The value of building work added 0.6 percent on quarter and 6.4 percent on year to A$24.156 billion. Residential work gained 2.0 percent on quarter and 12.4 percent on year to A$15.523 billion, while non-residential work fell 1.9 percent on quarter and 3.0 percent on year to A$8.633 billion. The seasonally adjusted estimate for engineering work completed slipped 7.3 percent on quarter and 11.7 percent on year to A$24.884 billion in Q3. Also on Wednesday, the government noted that skilled vacancies were up 0.6 percent on month in October after rising a downwardly revised 1.1 percent in September (originally 1.8 percent).

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