Economics Resource Centre

Performance of Construction Index - February 2020

Australian PCI®
Up 1.4 points
(seasonally adjusted)

42.7

Australian PCI®
Down 0.3 points
(trend)

40.8
 

Next Release: 3 April 2020

February 2020 - OVERVIEW

Construction decline eases in February

The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 1.4 points to 42.7 points in February (seasonally adjusted) indicating a further easing in the construction industry’s rate of decline. Results under 50 points in the Australian PCI® indicate deteriorating conditions, with lower results indicating a faster pace of decline.

The milder decline in the Australian PCI® in February reflected slower reductions in activity, new orders and supplier deliveries. However, the persistence of soft demand in residential construction at the aggregate level over an extended period saw the Australian PCI® employment index fall at a steeper rate in the month.

Across the four construction sectors in the Australian PCI®, house building activity showed further improvement in February, expanding at its fastest pace in three months (trend). Elsewhere, conditions remained subdued. Engineering construction declined at slower rate, while the fall in commercial construction was sharper (a lower index result in the month) and the apartment building activity index remained deeply negative.

 

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