Australia’s Q2 construction work done rebounds sharply, a big beat on expectations

The pace of construction work done in Australia during the June quarter of 2017 staged a solid rebound and arrives way stronger-than expectations.

The value of construction work done, a key component within the GDP reading, expanded 9.3% q/q to a seasonally-adjusted A$ 51.57 bn in the three months to June 30.

MARCH KEY POINTS

VALUE OF WORK DONE, CHAIN VOLUME MEASURES

TOTAL CONSTRUCTION

The trend estimate for total construction work done rose 0.6% in the June quarter 2017.

The seasonally adjusted estimate for total construction work done rose 9.3% to $51,669.7m in the June quarter.

BUILDING WORK DONE

The trend estimate for total building work done rose 0.5% in the June quarter.

The trend estimate for non-residential building work rose 3.0% and residential building work fell 0.9%.

The seasonally adjusted estimate of total building work done rose 0.1% to $26,996.9m in the June quarter.

ENGINEERING WORK DONE

The trend estimate for engineering work done rose 0.7% in the June quarter.

The seasonally adjusted estimate for engineering work done rose 21.5% to $24,672.8m in the June quarter.