The construction sector in Australia moved into expansion territory in October, the latest survey from the Australian Industry Group revealed on Wednesday with a seasonally adjusted Performance of Construction score of 52.7.
That's up from 45.2 and it moves above the boom-or-bust line of 50 that separates expansion from contraction. It's also the first expansionary result since August 2018.
All of this recovery in October was in housing construction, with house building activity and new orders up strongly. The activity and new orders indices in the apartments and engineering sectors improved in October but remained stable or in contraction. Activity in commercial construction deteriorated but new orders improved, which suggests better months ahead.
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