The national construction industry contracted for a fourth consecutive month in February, with the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) falling by 2.0 points to 43.9 (index readings below 50 points indicate a contraction in activity, with the distance from 50 indicating the rate of the contraction). The slightly steeper rate of decline in February reflected a further weakening in new orders, which declined by 6.9 points to 38.7. The recent softening in overall industry conditions continued, although the activity (44.7 points), deliveries ... (full story)