The construction sector in Australia continued to contract in August, and at a faster pace, the latest survey from the Australian Industry Group revealed on Thursday with a Performance of Construction Index score of 37.9.
That’s down from 42.7 and it moves farther beneath the boom-or-bust line of 50 that separates expansion from contraction.
Builders around the country said they are being adversely affected by the lockdown in Victoria plus border closures in other states and reduced confidence. New orders are down sharply across the board, with few customer inquiries translating into firm contract commitments.
Regulatory processes, OH&S requirements and disrupted supplies are slowing work on site, even in locations with no local activity restrictions for construction. Input prices have jumped higher due to local and international supply delays.
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