Con­struc­tion ac­tiv­ity slows

Townsville Bulletin - - Investor -

AUS­TRALIAN con­struc­tion ac­tiv­ity con­tracted for the ninth con­sec­u­tive month in Fe­bru­ary amid tight credit con­di­tions, weaker de­mand and higher in­ter­est rates, a re­port says. But the pace of con­trac­tion slowed last month as bet­ter weather al­lowed fewer dis­rup­tions to build­ing projects. The Aus­tralian In­dus­try Group­Hous­ing In­dus­try As­so­ci­a­tion’s per­for­mance of con­struc­tion in­dex ( PCI) rose 4.4 in­dex points to 44.6 points in Fe­bru­ary. De­spite the im­prove­ment, the mea­sure stayed be­low the key 50 point level that sep­a­rates ex­pan­sion from con­trac­tion.

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