The national construction industry contracted at a steeper rate in June, as weaker engineering activity continued to outweigh expansion in the house and apartment building sectors. The seasonally adjusted Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI) fell by 1.4 points to 46.4 points in June. The three-month moving average dropped to 47.1 points. The Australian PCI has been below the 50 point level that separates expansion from contraction in seven of the past eight months. The industry’s general weakness in June was evident in continued contract ... (full story)