Australian construction work data due at the bottom of the hour – what to expect

Most focus will be on the inflation number:

• Australian CPI due at the bottom of the hour – what to expect and why its not official

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.