Home Building rRebounds

The national construction industry returned to growth in June, with the Housing Industry Association’s Performance of Construction Index increasing 6.5 points to 53.2 – the highest rate of expansion in 10 months.

The residential sub-sectors of house and apartment building were the standout performers both in current activity and in new orders, suggesting they are on track for continued expansion. While the commercial and engineering construction sub-sectors improved, both recorded a drop in new orders in June. Housing Industry Association chief economist Harley Dale says new residential construction remains the powerhouse of the economy. “At the same time, non-residential construction has some spark to it, but the breadth of recovery is still proving elusive,” he says.

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