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- Ai Group/HIA Australian Performance of Construction Index is up to 53.8 in August
Ai Group/HIA Australian Performance of Construction Index is up to 53.8 in August
The Australian Industry Group (AiG) released its construction data for Australia on late Sunday evening. The Ai Group/HIA Australian Performance of Construction Index rose to 53.8 in August from 47.1 in July.
A reading above 50 indicates expansion in the sector.
The increase was driven by a rise in new orders, which jumped to 57.6 in August from 45.4 in July.
"A healthy August update for commercial construction is encouraging, but needs to be sustained. As new housing activity remains strong rather than achieving further growth, commercial construction and infrastructure investment needs to pick up the baton," HIA Chief Economist, Harley Dale, said.
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