The construction industry experienced a second month of growth in July, with growth in all sectors except engineering. This is great news if you are a Builder.
The Australian Industry Group and Housing Industry Association Australia Performance of Construction Index has shown that there was a second month of growth in July. This has been driven by commercial construction experiencing its' highest level of growth in 6 and a half years. House construction had already been experiencing good growth for close to 12 months.
The only sector to not experience growth was the engineering construction. This is a direct result of the slowing down of construction in the mining sector.
The AI Group Director of Policy Peter Burn said; "While house building has been strong for some time and apartment building is at healthy levels, the broadening of growth to include commercial construction is a welcome addition to the mix."
Some of the Key Findings
- The Performance of Construction Index grew for the second consecutive month in July.
- Growth was recorded in House Building, Apartments and Commercial Construction.
- Commercial construction hit a 61/2 year high.
- Engineering construction fell into contraction.
- Construction employment grew for the first time in 8 months.
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