The Australian Industry Group and HIA Australian Performance of Construction Index (Australian PCI®) improved by 7.5 points to 53.4 points, indicating a recovery in activity across the construction sector after a sharp fall over the summer holiday period (seasonally adjusted). Results above 50 points indicate expansion in the sector, with higher results indicating a stronger expansion. The new wave of infections caused by the Omicron variant partly inhibited activity levels at the start of the new year but impacts seemed to have eased in February. 

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