Aussie non-residential work balloons
Non-residential building work in Australia soared by a fifth in the first month of this year, official figures have revealed
Data from the Australian Bureau of Statistics showed the total value of non-residential building approvals was $2.8 billion (£1.9billion) in January 2013.
This was 20.9 per cent higher than in the previous month, in seasonally adjusted terms.
However, a slight decline in the value of new work in the much larger residential building sector moderated the overall impact to architects.
In total, the seasonally adjusted estimate of the total value of new building approvals was 6.6 per cent up in January 2013.
The more closely watched trend estimate, calculated as a moving average of recent approvals, increased just 1.2 per cent.
But this still represented the 12th consecutive month of growing values of new work Down Under – a welcome sign of gradual recovery from the global slump.
Private sector home approvals rose, in seasonally adjusted terms, in Western Australia (7.4 per cent), Queensland (4.2 per cent) and Victoria (3.6 per cent).
They fell in South Australia (8.4 per cent) and New South Wales (0.9 per cent).