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- The Australian Performance of Construction Index declined by 2.5 points to 49.3 points in September
The Australian Performance of Construction Index declined by 2.5 points to 49.3 points in September
The Australian Industry Group/Housing Performance of Construction Index declined by 2.5 points to 49.3 points (seasonally adjusted) in September.
This fall in the Australian PCI to a level below the critical 50-points threshold (that separates expansion from contraction) signalled the first contraction in overall construction industry conditions in 20 months.
The activity sub-index expanded modestly in September after moving into mild negative territory (i.e. below 50 points) in August. However, the new orders sub-index contracted amid weaker demand conditions across all four industry sub-sectors. This was associated with a further decline in employment which recorded its sharpest fall in 21 months
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