Wednesday 24th August 2016 - 2:40 pm

Construction falls as mining boom ends

by Alan Thornhill

A sharp fall in the value of engineering work saw the total amount spent on construction in Australia fall significantly in the June quarter.


The overall fall –  of 3.7 per cent – was driven by the collapse of the mining boom according to preliminary, seasonally adjusted figures, which the Bureau of Statistics published today.


The Bureau also noted that the value of engineering work done fell by 9 per cent in the June quarter.


The overall value of construction work done, in the June quarter of this year was 10.6  per cent below that of the same quarter 12 months earlier.



And the value of engineering construction alone fell by 24.9 per cent over the same time.


Once again, the collapse of the mining boom was largely to blame for these developments.



However the building industry did better.



The Bureau’s figures also show the value of residential building work done rising by 0.8 per cent in the June quarter and 9.4 per cent over the year.


But while the value of non residential building work rose by 2.1 per cent in the quarter, it rose by just 0.4 per cent over the year.

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Alan Thornhill

Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.

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