The value of total construction work done in Australia was down a seasonally adjusted 0.9 percent on quarter in the fourth quarter of 2020, the Australian Bureau of Statistics said on Wednesday – coming in at A$51.170 billion.

That missed expectations for an increase of 1.0 percent following the 1.8 percent contraction in the previous three months.

On a yearly basis, construction work was down 1.4 percent.

Building work was up 0.6 percent on quarter and down 2.2 percent on year at A$29.373 billion, while residential work was up 2.7 percent on quarter and down 0.7 percent on year at A$17.865 billion.

Non-residential work fell 2.4 percent on quarter and 4.5 percent on year to A$11.508 billion and engineering work slipped 2.8 percent on quarter and 0.3 percent on year to A$21.796 billion.

The material has been provided by InstaForex Company – www.instaforex.com

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