Australia Construction Output

Total construction work done in Australia rose by 0.5% quarter-on-quarter to AUD 73.94 billion in Q4 of 2024, slowing from an upwardly revised 2.0% growth in Q3 and missing market estimates of 1.0%. However, it was the third consecutive quarter of increase in construction activity. Engineering work slowed (1.8% vs 3.5% in Q3), as did the residential sector (0.9% vs 2.5%). In addition, non-residential output declined at a steeper rate (-3.1% vs -2.3%). Moreover, construction of buildings fell by 0.7% after increasing by 0.6% in the previous period. Geographical-wise, construction work done expanded in New South Wales (3.0%), Western Australia (3.7%), and Northern Territory (6.9%); but contracted in Victoria (-1.8%), Queensland (-2.6%), South Australia (-1.7%), Tasmania (-2.6%), and Australian Capital Territory (-1.1%). Through the year to Q4, construction activity grew by 1.8%, moderating from a 3.6% gain in Q3.