Economics Resource Centre

Performance of Construction Index - June 2021

Australian PCI®
Down 2.8 points
(seasonally adjusted)

55.5

Australian PCI®
Dpown 0.6 points
(trend)

57.8
 

Next Release: 4 August 2021

June 2021 – OVERVIEW

Construction expansion hit with high prices and capacity squeeze

The Australian Industry Group and HIA Australian Performance of Construction Index (Australian PCI®) fell by a further 2.8 points to 55.5 points in June 2021 (seasonally adjusted). It is trending lower after hitting a record high in March 2021 (highest since this survey commenced in 2005). The Australian PCI® remained extremely elevated in June but the deceleration from recent highs confirms that growth rates are slowing. Results above 50 points indicate expansion in this survey, with higher results indicating a stronger pace of expansion.

Current activity in housing, engineering and commercial construction remained strong in June (trend). The indexes for housing and engineering activity moderated from recent highs but are still relatively elevated. Apartment construction moved back into mild contraction. New orders remain relatively strong in housing, commercial and engineering construction but indicated mild contraction in apartment construction (results a touch below 50 points, trend).

 

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