Contraction Accelerates For Australia Construction Sector

(RTTNews) - The construction sector in Australia contracted at a faster pace in February, the latest survey from the Australian Industry Group showed on Friday, with a Performance of Construction Index score of 43.9.

That's down significantly from 45.9 in January, and it moves further beneath the boom-or-bust reading of 50 that separates expansion from contraction. Overall, it's the fourth straight month of decline.

Among the individual components of the survey, new orders, activity, employment and deliveries from suppliers all continued to contract.

By industry, the heaviest declines came in mining and commercial building - although apartment building swung higher to expansion.