NAB Short Course - Sponsored Feature
This is an excerpt from Business Spectator’s new short course on company results. Click here toread the rest of the article, plus the remaining nine articles in the course.
What the big construction companies are telling your business
The latest round of profit results from the major building, construction and engineering companies – and those involved in allied industries – present a fairly bleak picture for businesses in this sector at this point, especially those with links to resources projects.
The impact of lower consumer confidence, combined with lower selling prices and industry wage pressures, has flowed right through the big companies.
The Australian construction sector contracted for a 27th consecutive month in August, as project delays affected demand, according to a leading survey.
The latest Australian Industry Group/Housing Industry of Australia performance of construction index sank to a seasonally-adjusted 32.2 in the month, from 32.6 in July.
Any reading below 50 indicates the sector is in contraction.
The report found apartment building was the weakest sub-sector during August, recording a drop of 10.8 points to just 22.1…
Click here to read the rest of the article, plus the remaining nine articles in the course.