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Forex news -forex broker review => Forex => Topic started by: forex4you on Nov 27, 2024, 05:08 am

Title: Australian construction work data due at the bottom of the hour - what to expect
Post by: forex4you on Nov 27, 2024, 05:08 am
Australian construction work data due at the bottom of the hour - what to expect

Most focus will be on the inflation number:

But, construction data also due. Via Commonwealth Bank of Australia, analysts there expect +0.7% q/q:

  • Construction work done includes building work (residential and non - residential) and engineering work. Residential building activity likely saw  a bounce in the September quarter after no growth across the past two  quarters.
  • There remains a moderate pipeline of work to be done, even  as approvals are at low levels.
  • Together with little expected change in  non - residential construction and a slight rise in engineering work, we  expect a moderate increase in overall construction work done

Via Westpac:

  • Construction work held broadly flat into mid-year, up just 0.1%
    in Q2.
  • For Q3, we anticipate that construction activity held flat. The
    sector remains constrained amid labour shortages, elevated
    material costs and liquidations in the residential space over
    the past year. This is placing a handbrake on the speed at
    which the sector can work through the pipeline of projects.
    Engineering construction will tick higher in Q3, with nonresidential activity lower. Resi construction is expected to
    stabilise after recent falls.


                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Australian construction work data due at the bottom of the hour - what to expect (https://www.forexlive.com/news/australian-construction-work-data-due-at-the-bottom-of-the-hour-what-to-expect-20241127/)

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