ID :
23070
Tue, 10/07/2008 - 11:06
Auther :
Shortlink :
http://m.oananews.org//node/23070
The shortlink copeid
CONSTRUCTION ACTIVITY IN AUSTRALIA DETERIORATES
MELBOURNE, Oct 7 (Bernama) -- Activity in the construction sector
deteriorated considerably in September, a survey has found.
The Australian Industry Group-Housing Industry Association performance of
construction index (PCI) fell 11.3 index points to 31.8 points in September,
its weakest reading since the survey was established in September 2005.
The index was below the key 50 level, which separates expansion from
contraction, for the seventh straight month.
The report found substantial falls in commercial and apartment building
activity, as firms delayed construction due to the on-going credit squeeze and
slowing economy.
Companies also reduced their workforces at the fastest rate in the
three-year history of the survey.
-- BERNAMA
deteriorated considerably in September, a survey has found.
The Australian Industry Group-Housing Industry Association performance of
construction index (PCI) fell 11.3 index points to 31.8 points in September,
its weakest reading since the survey was established in September 2005.
The index was below the key 50 level, which separates expansion from
contraction, for the seventh straight month.
The report found substantial falls in commercial and apartment building
activity, as firms delayed construction due to the on-going credit squeeze and
slowing economy.
Companies also reduced their workforces at the fastest rate in the
three-year history of the survey.
-- BERNAMA
