Australia’s Q1 construction work done shows a bigger-than expected drop

The pace of construction work done in Australia during the March quarter of 2017 shrank and came in sharply below expectations.

The value of construction work done, a key component within the GDP reading, contracted 0.7% q/q to a seasonally-adjusted A$ 46.42bn in the three months to March 31.

MARCH KEY POINTS

VALUE OF WORK DONE, CHAIN VOLUME MEASURES

TOTAL CONSTRUCTION
 

The trend estimate for total construction work done fell 0.6% in the March quarter 2017.

The seasonally adjusted estimate for total construction work done fell 0.7% to $46,416.9m in the March quarter.

BUILDING WORK DONE
 

The trend estimate for total building work done fell 1.1% in the March quarter.

The trend estimate for non-residential building work was flat and residential building work fell 1.7%.

The seasonally adjusted estimate of total building work done fell 2.8% to $26,227.2m in the March quarter.

ENGINEERING WORK DONE
 

The trend estimate for engineering work done rose 0.1% in the March quarter.

The seasonally adjusted estimate for engineering work done rose 2.2% to $20,189.7m in the March quarter.