Good news for builders, the construction sector is enjoying its highest level of activity in 10 months in June. The sector swung from contraction in May to expansion in June 2016.
The Australian Industry Group’s Performance of Construction Index (PCI) rose 6.5 points to 53.2 points, anything over 50 points indicates expansion.
The growth in the index was reportedly driven by the first increase in new orders in 8 months. Current activty and employment figures are also higher.
All 4 sub-sectors of the PCI recorded growth – even the previously struggling engineering sector.