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Australian PCI: Construction contracts at slower pace in October
The latest Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) shows the national construction sector contracted at a slower rate in October recording 35.8 - an increase of 4.9 points on the previous month (readings below 50 indicate a contraction in the industry with the distance from 50 indicative of the strength of the decline). A less pronounced decline in new orders (36.8) and supplier deliveries (41.5) helped give the overall index a boost. Despite this, at 35.2 - activity in the sector remains very weak with all major sub-sectors continuing to ... (full story)