Building growth slowing

AUSTRALIA’S construction sector is still expanding, official figures show, but the momentum is slowing.

The Australian Industry Group’s performance of construction index has clocked in at 52.8 points for the past month.

While above the 50-point level indicating the sector is expanding, it is down 4.7 points from the previous month.

It is the 11th month in a row the index, compiled with the Housing Industry Association, has been above 50 points.

Slower growth in housing, engineering and commercial construction was offset by increased growth in apartment building.

The improvement in apartment building was welcomed by HIA senior economist Shane Garrett, who said the lift in activity came despite tighter regulatory management and restrictions on foreign investors.