Australia’s construction industry contracted for the first time in July after nine months of continuous expansion after harsh lockdown restrictions were implemented in various states around the country.
The fall, which was noted by the Australian Industry Group (Ai Group) and the Housing Industry Association’s (HIA) construction performance index, fell 6.8 points to 48.7 in July. According to the Index, any reading below 50 points indicates contraction in activity, with lower numbers indicating a stronger pace of contraction.
