Australia Construction Activity Contracts For 11th Month - AIG

(RTTNews) - Construction activity in Australia contracted for the 11th straight month in January.

The Performance of Construction Index (PCI) published Friday by the Australian Industry Group and Housing Industry Association posted a reading of 34.1 in January, an increase of 3.2 points from December but well below the 50.0 level that separates contraction from expansion.

Apartment construction posted the biggest decline, falling 2.6 points to 26.8. Construction of housing increased 8.5 points to 31.9.

The new orders sub-index was up 2.3 points to 28.9 while construction-related sales were up 3.8 points to 29.9 and employment improved 1.8 points to 37.3.

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