The value of construction work done in Australia declined unexpectedly in the first quarter compared to the preceding three months, data from the Australian Bureau of Statistics showed Wednesday.
The value of total work done fell 2 percent quarter-on-quarter in the first quarter of 2013 compared to forecast of 1 percent growth. This followed a 0.1 percent growth in the December quarter of 2012.
Total building work done fell 1.1 percent on quarter after residential construction declined 1 percent and non-residential work slid 1.2 percent.
The value of engineering work done dropped 2.5 percent quarter-on-quarter in the first three months of the year, the report said. Total construction work done, nevertheless, increased 0.2 percent from the same period last year.
Separately, the Housing Industry Association (HIA) said today that total seasonally adjusted new home sales increased 3.9 percent in April, taking monthly sales back to a level not seen in over a year.
The result was driven a 6.7 percent lift in detached house sales, HIA said in its New Home Sales Report.
by RTT Staff Writer
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