by Alan Thornhill
Australia’s troubled building industry sank even further in the first three months of this year.
The Bureau of Statistics reports a fall of 2.8 per cent fall in the value of building work done in the March quarter of this year, on seasonally adjusted figures.
This took the fall from the same quarter last year, to a level 6.6 per cent.
Industry sources say the nation’s builders are now operating at levels not seen since the months immediately after the global economic crisis.
The Bureau reports that the value of new residential building work fell by 1.2 per cent in the March quarter, to a level 8.7 per cent below that seen in the same quarter last year.
The value of alterations done also fell – by 5.5 per cent in the March quarter – to a level that was also 5.5 per cent below that of the March quarter last year.
There was no relief to be found, either, in non-residential building.
The Bureau reports that, on value, the amount of work done in this sector fell by 4.3 per cent in the March quarter, to a level 4.1 per cent below that of the March quarter last year.
All of these figures are seasonally adjusted.
Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
Thursday May 23
The Dow Jones Index fell 80.02 points to 15,307.60
Man, believed to be a British soldier, hacked to death in the London suburb of Woolwich, in an apparent terrorist attack
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|Aud To Usd||0.9638||N/A||N/A|
|Bhp Blt Fpo||35.370||+0.100||+0.28%|
|Anz Bank Fpo||28.580||-0.720||-2.46%|
|Cwlth Bank Fpo||70.660||-1.040||-1.45%|
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