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Australia AiG construction dropped to 55.5, facing capacity constraints

Australia AiG Performance of Construction dropped -2.8 pts to 55.5 in June. Current activity dropped -0.9 to 54.8. Employment dropped -6.1 to 58.3. New orders rose 0.9 to 56.1. Supplier deliveries dropped -8.5 to 50.9. Input prices rose 2.5 to 98.3. Selling prices rose 7.0 to 85.2. Average wages rose 5.4 to 70.4.

Ai Group Head of Policy, Peter Burn, said: “Australia’s construction industry continued its run of strong growth in June but the pace of expansion is slipping as it faces capacity constraints and rising input prices. Activity across house building, engineering construction and commercial construction rose in June while activity in the apartment sector slipped back after a brief recovery. Employment continued to grow although its pace eased with the builders and constructors reporting increasing difficulty filling positions. Input prices and wages are rising at well above their average pace and strong demand is pushing selling prices up too. New orders were at very healthy levels indicating further expansion in the months ahead. However, lag times are extending with capacity already stretched. It will be critical for governments, their agencies, and industry to work together to ensure that sufficient labour is available to deliver on the full range of infrastructure projects in the pipeline.”

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