The national construction industry declined for a third consecutive month in December with the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI) registering 47.0 points in the month (50 points is the threshold that separates expansion from contraction in the Australian PCI®).
This was an increase of 0.4 points from November, indicating a marginal easing in the industry’s rate of contraction during the final month of 2016. All four sectors of the Australian PCI contracted (i.e. below 50 points) in December. House building declined for a fifth consecutive month as activity in the sector moderated further from robust mid-year levels. Apartment building also continued to contract, although the sector’s pace of decline was the slowest in three months
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