Construction sector weak but pace of decline eases

News Story
- 10 Nov 2011 ( #539 ) - Canberra, ACT, Australia
1 min read
Ai Group director - public policy, Peter Burn.
Ai Group director - public policy, Peter Burn.
The construction industry declined at a slower rate in October, according to the latest Australian Industry Group Performance of Construction Index (Australian PCI).

Though still in the red, there were signs of improvement, with rates of decline in activity easing across sub-sectors.

Ai Group director - public policy Peter Burn says the ongoing weakness in the construction sector, most notably in the housing, apartment and commercial construction sub-sectors, continues to hold back overall economic activity and, in particular, activity in those industries, such as manufacturing, with close links to construction.

"The easing of the pace of decline in overall construction activity and the turnaround in the Australian PCI new orders sub-index after a steepening pace of decline over the year to date is somewhat encouraging. While global economic uncertainties persist and domestic confidence is yet to bounce back, the Reserve Bank's decision last week to reduce interest rates could help build the momentum towards recovery in the sector over coming months," says Burn.

Housing Industry Association acting chief economist Andrew Harvey says while it's disappointing that the level of house building activity continues to contract, it is good news that the speed of decline in that contraction looks to be moderating.

"This trend combined with the eventual impact of (last) Tuesday's interest rate cut will hopefully see a return to expansion in activity in the longer term. A moderation in the rate of decline in new orders for houses and apartments also gives some hope of an eventual return to growth in residential building activity levels."
Lancashire, United Kingdom UK third-party logistics provider Kammac has boosted its forklift fleet in a significant contract with Jungheinrich UK. The five-year rental fleet management deal will see Jungheinrich supply electric counterbalance...
Neede, Netherlands Magazino has secured an order from Schuurman Schoenen for its TORU mobile picking robot. The Dutch company, known for offering a wide range of shoes, will use the robots...

Movers & Shakers

senior marketing manager
Tompkins Robotics, United States
chief digital officer
Wiferion, Germany
director of dealer development
Toyota Material Handling, United States
director of national accounts
Toyota Material Handling, United States
Albion, MI, United States Caster Concepts has announced a 16,000 sqft. (1,500 sqm) USD2 million expansion at its headquarters in Central Michigan. The expansion will accommodate a larger engineering department, additional floor space...
Lancashire, United Kingdom UK third-party logistics provider Kammac has boosted its forklift fleet in a significant contract with Jungheinrich UK. The five-year rental fleet management deal will see Jungheinrich supply electric counterbalance...

Movers & Shakers

senior marketing manager
Tompkins Robotics, United States
chief digital officer
Wiferion, Germany
director of dealer development
Toyota Material Handling, United States
director of national accounts
Toyota Material Handling, United States

FOR SALE ON MACHINERY-ONQ

Xcmg XCB-D20
China
Canada Ontario
China
Denmark

Inside Forkliftaction

After some pessimism last year, the International Monetary Fund has increased its 2022 and 2023 growth forecasts. Global growth will slow from 3.4% in 2022 to 2.9% in 2023 and then rebound to 3.1%, the global agency predicts.
The IMF is encouraged by the recent reopening of China, which it
...Continue Reading