Fewer homes built in September quarter

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Growth in construction work unexpectedly declined in the September quarter, led by a drop in completed residential buildings compared with the previous three months.

The Australian Bureau of Statistics (ABS) on Wednesday said total construction work in the September quarter fell by a seasonally adjusted 2.1 per cent to $41.4 billion, down from a revised record of $42.2 billion in the June quarter.

Economists’ forecasts had centred on a 2.1 per cent rise in the September quarter.

Click here for the rest of the article (Source: Sydney Morning Herald Website)

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