Value of construction work done falls by unexpected 2% in March quarter led by engineering slump: ABS

The total value of construction work done fell by an estimated 2% to just over $51 billion in the March quarter on a seasonally-adjusted basis, according to the latest ABS data.

This was well down on expectations of a 1% rise over the quarter, according to a Bloomberg survey of 17 economists.

The latest ABS figures show falls in all sectors led by a 2.5% decline in the value of engineering work done, some of which would be tied to the slowdown in the mining sector.

The value of residential construction work done fell 1% while the value of non-residential construction work done fell 1.2% with the total value of building work (residential and non-residential) down 1.1% to $20.2 billion.

Trend estimates show a 0.4% decline over the quarter for all construction work done.

Taking a longer term view, the value of construction work done is up by a marginal 0.2% when comparing the March 2013 quarter with March 2012 quarter on a seasonally-adjusted basis and up by 2.9% using trend estimates over this period.

On a state-by-state basis the strongest growth trends are in Queensland and the Northern Territory.

Construction work done Queensland has risen for fourteen quarters and for eight quarters in the Northern Territory.

Construction work done in Victoria has risen for three quarters

Construction work done in Western Australia has fallen for three quarters.

Construction work done in New South Wales has fallen for one quarter.