Australian Construction Contracts at Slower Pace on Resources
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Australia’s construction industry contracted at a slower pace last month as work related to the nation’s resource boom partly offset weakness in residential building, a private report showed.
The construction performance index was 41 in December from 39.6 a month earlier, a survey by the Australian Industry Group and the Housing Industry Association released in Sydney today showed. The result was the 19th consecutive month under 50, the dividing line between expansion and contraction.