Performance of Construction Index - January 2021

December 2020 and January 2021 – OVERVIEW

Construction industry recovery strengthens into 2021

The Australian Industry Group and HIA Australian Performance of Construction Index (Australian PCI®) improved by a further 2.3 points to 57.6 points in December 2020 and January 2021 (seasonally adjusted, combined result for two months), indicating a stronger pace of recovery in these two months compared to November 2020. This indicates four consecutive months of recovery (results above 50 points) in the Australian PCI and the strongest result since July 2017.

All four components of activity expanded strongly in December 2020 and January 2021 (results well above 50 points). The new orders index surged to 58.6 points, its highest level since March 2018, which bodes well for building activity over the next three to six months. Three of the four sectors in the Australian PCI® recovered strongly in December and January (index results well above 50 points), with only apartment building still contracting, albeit at a slower pace.

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