Economics Resource Centre

Performance of Construction Index - November 2020

Australian PCI®
Up 2.6 points
(seasonally adjusted)

55.3

Australian PCI®
Up 3.1 points
(trend)

53.6
 

Next Release: 3 February 2021

November 2020 – OVERVIEW

Construction industry recovery strengthens in November

The Australian Industry Group Australian Performance of Construction Index (Australian PCI®) improved by a further 2.6 points to 55.3 points in November (seasonally adjusted), indicating a stronger pace of recovery. November marked a second month of positive conditions (above 50 points) and the strongest monthly result since April 2018. Results above 50 points in the Australian PCI® indicate expansion, with higher results indicating a faster rate of expansion.

Activity, employment and supplier deliveries all moved into a more solid recovery in November. New orders continued to expand but at a slower pace than in October. Capacity utilisation increased to its highest monthly level since October 2018 (and well above its own long-run average), at 78% of available capacity. Industry conditions (outside apartment construction) were positive nationwide in November. Building activity recovered suddenly in Victoria as activity restrictions were lifted, but slowed in NSW after a surge of recovery from September.

 

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