Non-Residential Construction Back In Negative Territory
Conditions in the commercial construction sector have fallen back into negative territory according to the latest Master Builders National Survey of Building and Construction
“Despite earlier optimism, the latest survey shows that the anticipated recovery in commercial construction has failed to materialise,” Peter Jones, Chief Economist of Master Builders Australia said.
“In the June quarter the index measuring current conditions in the non-residential building sector fell to 46.1 which has reversed the confidence present in the December 2014 and March 2015 quarters,” he said.
“The index measuring expectations about future activity also dropped back for the second successive quarter as caution about the wider economy and fragile business confidence kept a lid on investment,” Peter Jones said.