AUSTRALIA CONSTRUCTION WORK CLIMBS 2.4% IN Q1

The value of total construction work done in Australia was up a seasonally adjusted 2.4 percent on quarter in the first three months of 2021, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.975 billion.

That beat expectations for an increase of 2.2 percent following the upwardly revised 0.4 percent increase in the three months prior (originally -0.9 percent).

Building construction was up 2.5 percent on quarter, while residential building gained 5.1 percent, non-residential building fell 1.6 percent and engineering rose 2.2 percent.

On a yearly basis, the value of total construction work fell 1.1 percent. Building construction was down 1.8 percent on year, while residential building gained 4.2 percent, non-residential building fell 10.4 percent and engineering eased 0.3 percent.

News are provided by InstaForex