The PCI measures perceived changes in activity levels across Australia’s construction sector from one month to the next. Anything above 50 signals that activity levels are improving while a reading below suggests they’re deteriorating. The distance away from 50 indicates how quickly activity levels are expanding or contracting. So at 57.2, activity levels not only improved in March, they did so at a faster pace than February. The Ai Group reports that activity levels have now improved in each of the past 14 months, a prolonged period of growth never before seen in the 13-year history of the survey.
Australia's construction sector is strengthening as non-residential work soars
Activity levels across Australia’s construction sector continue to strengthen, underpinned by surging growth in non-residential work. The Australian Industry Group’s (Ai Group) Performance of Construction Index (PCI) rose 1.2 points to 57.2 in March in seasonally adjusted terms, leaving it well above the levels seen in prior years.
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