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The construction sector in Australia continued to contract in March, and at a faster rate, the latest survey from the Australian Industry Group showed on Friday with a seasonally adjusted Performance of Construction Index score of 37.9.
That's down from 42.7 and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction. It also marks the lowest index reading since May 2013.
Across the four construction, the house building sector indicated modest growth for a fourth consecutive month. Contractions in the apartment and commercial construction sectors were steeper, while the contraction in engineering construction activity eased slightly in March.
