Australian housing construction records strongest growth

GMT 16:21 2014 Tuesday ,07 October

Arab Today, arab today Australian housing construction records strongest growth

Australian housing
Sydney - XINHUA

A private construction index measuring the development of residential housing industry has posted its strongest reading on record Tuesday.
The Australian Industry Group - Housing Industry Association Performance of Construction Index (PCI) jumped 4.1 points to 59.1 in September.
It is the strongest pace of growth recorded in the survey's nine-year history.
Residential property development is leading the growth with the house building subsector at 61.7 points, and apartment building rising to 60.5. Commercial construction rose 3 points to 58.4.
Engineering construction (including mining and infrastructure) did not match the pace of residential and commercial sectors but did grow slightly, rising 4.6 points to 48.3.
The building boom is also feeding through to employment, with that subindex also at a record level of 62.8 after jumping 9.1 points last month.

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