SYDNEY: Construction activity has swung up in Australia ending four months of contraction, according to data released on Monday.
The Australian Industry Group and Housing Industry Association’ s Performance of Construction Index rose 6.7 points to 53.8 in August.
The result compared to July’s 47.1, which was also a rise of 0. 7 points on June.
The August’s result puts the index well above 50 points — the level that separates expansion from contraction. It was the highest reading for the index since it reached 59.1 points in a year ago.
The index had been below 50 since a strong one-off jump bounce in March, and been shrinking for eight of the past nine months.
