The overall index of construction activity across Australia declined by 8.0 points to 45.4 last month, a study by the Australia Industry Group and Australian Housing Association has revealed.
The report said expansions of detached houses and apartment building projects have slowed as well, with industry players pointing their fingers to slow public building activity, project delays, and a
further decline in new mining-related projects.
The November figure falls below the 50 threshold that separates growth from contraction.
"It will be disappointing if the rate of expansion in these Australian PCI components fails to reaccelerate in coming months given new home construction is currently the key domestic sector with promise of healthy activity in 2015," said HIA chief economist Harley Dale, as quoted by Reuters.
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