After 3 years of struggle for the construction sector is slowly gaining traction after posting favorable results for the past two months. The Australian Performance of Construction Index (PCI) rose by 0.8 percentage points – the highest rating since November 2010.
All other construction subsectors are also performing well, with Home constructions increasing to 62 points, apartments by 57.9 points and construction with 52.9.
Due to strong demand for property, and calls to meet housing demands, the construction sector is on its way to recovery. With the Reserve Bank of Australia keeping cash rates at 2.5%, and with high home clearance rates, this sector’s performance is necessary to keep the balance in the Housing industry.
Read more about this on the Age website.