Australia AiG Construction Index dropped to 37.9 in March, down from 42.7. That’s the lowest level since May 2013. Across the four construction sectors, the house building sector indicated modest growth for a fourth consecutive month (trend). Contractions in the apartment and commercial construction sectors were steeper (a lower index result), while the contraction in engineering construction activity eased slightly in March.
Retail sales rose 0.5% mom in February. “Retailers reported a range of impacts from COVID-19 in February” said Ben James, Director of Quarterly Economy Wide Surveys, “with increases in food retailing slightly offset by falls in more discretionary spending.”
