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The recently released construction data indicates that the seasonally adjusted estimate for the total construction has decreased by 3.1% in December 2018 to $51,092.3 Mn as compared to previous quarter whereas it fell by 2.6% as compared to last year. If seen over trend estimates, results were similar as total construction declined by 2.5% (q-o-q) and 1.8% (y-o-y) in December 2018 to $51,602.6 Mn.
For the December quarter, the trend and seasonally adjusted estimate for total building work was reported at $29,826 million and 29,599.6 million, respectively. For the same period, the trend and seasonally adjusted estimate for total engineering work was reported at $21,826 million and $29,599 million, respectively.Â
Under engineering segment, seasonally adjusted estimate work fell by 5% (q-o-q), and 7.8% (y-o-y), and trend estimate work fell by 4% (q-o-q) and 5.9% (y-o-y) in December 2018. Under Building work segment, residential seasonally adjusted work fell by 3.6% (q-o-q) but improved by 2.1% (y-o-y), and residential trend estimate work fell by 1.7% (q-o-q) but improved by 2.1% (y-o-y) in December 2018 whereas non-residential seasonally adjusted work improved by 1.9% (q-o-q) and 0.4% (y-o-y), and non-residential trend estimate work fell by 0.1% (q-o-q) and improved by 0.6% (y-o-y) respectively.
As per construction work over states and territories, work done in New South Wales (NSW) and Victoria has fallen for one quarter. Work done in Queensland and Western Australia has fallen for three quarters, four quarters respectively. Work done in South Australia and Northern Territory has fallen for two quarters and five quarters respectively. Work done in Tasmania and Australian Capital Territory has risen for four quarters and five quarters, respectively.
The quarterly building activity survey collects data from three crucial stages such as work commenced, under construction, and completed for residential and non-residential building activity undertaken. It comprise of sample of non-residential building works valued more than $250,000, residential building works valued more than $50,000, a new houses work valued more than $1 Mn, A&A to residential work over $500,000, and all jobs over $5 Mn. It excludes all such activities such as the construction of roads, bridges, railways, earthworks, etc.
The quarterly engineering construction survey (ECS) measures all construction work undertaken by both public and private sector organizations in Australia. It includes the range of work from the machinery and equipment installation which are an integral part of construction work, and even classified to the manufacturing industry in Australia and New Zealand Standard Industrial Classification. Type of constructions work involve roads, airport runways, subdivision, highways, bridges, water storage and supply, railways and tramways, harbors, electricity generation, Sewerage and Drainage, telecommunications, transmission and distribution, pipelines (other than water), recreation, heavy industries, etc. It excludes estimates from repair and maintenance activity, cost of land, value of installed machinery and equipment not integral to the structure, value of the transfers of existing assets, and expenses for the relocation of utility services.
As per forthcoming issues, Marchâ19 quarter issue will be released on 22 May 2019, Juneâ19 issue will be released on 28 August 2019, Septemberâ19 issue will be released on 27 November 2019, and Decemberâ20 will be released on 26 February 2020.
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