AUD: Mixed construction data but skilled vacancies picked up - TDS

Research Team at TDS, notes that the Australia’s skilled vacancies picked up +0.6% in April, with a small pickup in the annual rate being a positive lead for employment.

Key Quotes

“A mixed set of numbers for Construction Work Done with upward revisions to Q4, but Q1 was weak at -2.6%. There were no surprises with Engineering down, but non residential construction was down more than expected. Together we expect that sector to slice off +0.5%pts from Q1 GDP.”