Australia data – construction PMI for March higher to 57.2 (56.0 was the Feb result)

Australian Industry
Group Performance of Construction Index (PCI) for March comes in at its 14th consecutive month of expansion, a  jump to 57.2

From some of the sub-measures:

  • A surge in new orders, up 8 points on the month to 59.9
  • Employment dropped by 3.1 to 55.7, wages -2.1 points to 62.0
  • Input prices down 1.1 to 75.9, sales prices +5.1 points to 57.8
  • Housing activity and apartment activity both dropped, commercial and engineering activity both up – all 4 in expansion except for apartment activity to 49.9

This data point is not generally much of an FX market mover upon release. 

AIg’s earlier two PMIs for March also should improvement and further strong expansion:

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