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The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) lifted by 4.8 points to 51.4 points in the month (50 points is the threshold that separates expansion from contraction). This signalled a mild expansion across the construction industry led by stronger engineering construction activity.
Australian PCI® data for September revealed a marginal improvement in the activity subindex which remained in expansion (i.e. above 50 points) for a second consecutive month. In addition, businesses lifted their workforces, with employment increasing at its highest pace in two years. New orders continued to contract in September, although the rate of decline was slight, and slower than in August.
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