If you’re in the construction sector you’ll be pleased to hear that construction activity recorded its highest levels of activity in 10 months in June.
In fact according to the Australian Industry Group’s Performance of Construction Index (PCI) the construction sector moved from contraction in May, to its highest level of growth in 10 months in June.
The PCI increased from 6.5 points to 53.2 points in June, this was the highest growth in 10 months. When the PCI goes above 50 points, this indicates that the industry is in expansion rather than contraction.
While residential construction remains the star of the construction sector, commercial construction also swung back, coming in at 53.3 points.