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1.Market Observations, 8.Was Sticky

8 June 2017 (AFR) -Apartment building surge pushes construction index to two-year high

(8 June 2017, AFR, p37, by Michael Bleby)

‘A burst of apartment-building, along with growth in infrastructure work and commercial activity lifted a leading indicator of construction to its highest level in more than two years in May. The monthly Performance of Construction Index rose 4.8 points to 56.7 last month, the fourth straight month of growth, Ai Group/Housing Industry Association said on Wednesday. Apartment construction jumped, with the sub-index tracking that sector gaining 13.2 points to 68.5, while a separate index of new orders – a measure of future work – rose 10.3 points to…’

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