Australia Construction Index Falls to Lowest Since March 2009
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A gauge of Australia’s building industry fell last month to the lowest level in almost 2 1/2 years as new orders and hiring slumped.
The construction performance index fell 4 points to 32.1 in August, the 15th consecutive contraction and the lowest level since March 2009, according to a survey by the Australian Industry Group and the Housing Industry Association released in Sydney today. A reading below 50 indicates the industry is contracting.