04.08.202023:20:00UTC+00Australia Construction PMI Improves To 42.7 In July - AiG

The construction sector in Australia continued to contract in July, albeit at a slower pace, the latest survey from the Australian Industry Group showed on Wednesday with a Performance of Construction Index score of 42.7.

That's up from 35.5, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Activity and new order indices improved in three of the four sectors included in index in July but they remained negative for all sectors (under 50 points).

Apartment building dropped further in July, with respondents noting little prospect of a recovery in demand from international and local investors in the near term.