The Value Of New Engineering Work In Australia Is Dropping

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ABS data released this morning shows the value of total engineering work for the September quarter fell more than 13% compared to a year before.

Largely driven by the mining investment boom falling away, the figures show total work for the private sector fell 11.2% compared to the same period in 2013 to $22.275 billion for the September quarter.

Compared to the June quarter, total construction was down 3.7% $28.394 billion for the three months from September 2014.

The value of work commenced in the September quarter was $13.6 billion in original terms, down a whopping 17.3% from the June quarter. It’s a stat which shows the massive engineering projects which came with the mining boom are largely no more.

Here’s the chart.

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