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Construction drops again in November on weaker housing
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) declined by 1.9 points to 44.5 points in November (seasonally adjusted). This indicated that the construction industry contracted at a steeper rate in November amid continued declines in activity and new orders. It was the third consecutive month that the Australian PCI® has been below the critical 50-points level that separates expansion from contraction and the steepest decline in overall construction conditions since February 2015. Despite continued growth in engineering construction activity ... (full story)