The latest data from the Australian Bureau of Statistics (ABS) reveals the state of the construction industry in the June quarter. The figures indicate a combination of growth and challenges in the sector.
Key Highlights:
- Total Construction Work Done: In seasonally adjusted terms, the total value of construction work done in the June quarter saw a modest increase of 0.4%, reaching $59,010.6 million. This growth was primarily driven by a rise in engineering construction work, which increased by 0.7%, marking a substantial 15.5% surge compared to the same period last year.
- Building Work Done: The building sector experienced a 0.2% increase in work done, with a total value of $31,459.8 million. Non-residential building work contributed to this growth, rising by 0.6%. Residential building work, on the other hand, remained flat, showcasing a 2.7% year-on-year increase.
- Regional Trends: Among the states and territories, Western Australia stood out with a significant 4.2% increase in construction work done, reflecting a robust 16.4% growth compared to the previous year. Queensland also displayed positive performance with a 1.5% growth, contributing to a 9.7% year-on-year increase. Meanwhile, New South Wales and Victoria faced declines of -0.6% and -2.5% respectively, indicating challenges in those regions.
- Trend Estimate: The trend estimate for total construction work done rose by 1.6% in the June quarter, showcasing a positive trajectory for the industry.
These figures reflect a mixed landscape for the construction sector in Australia, with engineering projects driving growth, while building work saw varied performance across different segments and regions. The data underscores the resilience of the industry amidst challenges and points to the potential for ongoing recovery and expansion.
For more detailed insights, refer to the ABS’s official data release on the Value of Construction Work Done.