Next Release: 5 July 2022
The Australian Industry Group and HIA Australian Performance of Construction Index (Australian PCI®) fell by 5.5 points to 50.4 points in May (seasonally adjusted). This indicates stability in activity across the construction sector following three months of positive conditions. Results above 50 points indicate expansion in the sector, with higher results indicating a stronger rate of expansion.
The activity indexes for three of the four sectors in the Australian PCI® indicated contraction in May. Activity fell substantially in housing, apartments and commercial construction (seasonally adjusted). Engineering construction was mildly positive, but moderated down for a third month and was well below the peaks seen in late 2021.