And the hits just keep on coming...
The residential construction sector is facing a deep contraction. The Australian Bureau of Statistics on Wednesday revealed overall construction across the economy fell 11.1% over the past 12 months. In NSW, residential activity fell by 10% to its lowest level since late 2015. In NSW, there were 781 new houses sold in July - down 20% since May - the worst July since records began. In Victoria, sales are down by 26% since May.Economists anticipate the latest figures will cut about 0.4% from the national accounts. Growth is forecast at 1.2% over them past 12 months, the worst annual result since the end of the 1990-91 recessionWestpac senior economist Andrew Hanlan said with the construction sector accounting for 13% of the economy, the sharp drop in activity through the June quarter would have a material impact on the national accounts.Financial markets and economists expect the RBA to use its November meeting to cut official interest rates to a new record low of 0.75%.
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Last
$134.97 |
Change
0.200(0.15%) |
Mkt cap ! $225.8B |
Open | High | Low | Value | Volume |
$134.37 | $136.03 | $133.51 | $212.5M | 1.575M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | $134.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$134.98 | 1713 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 131 | 134.770 |
1 | 2777 | 134.750 |
1 | 335 | 134.710 |
1 | 94 | 134.700 |
1 | 2777 | 134.640 |
Price($) | Vol. | No. |
---|---|---|
134.980 | 1713 | 1 |
135.010 | 1661 | 1 |
135.030 | 609 | 1 |
135.050 | 2259 | 1 |
135.060 | 606 | 1 |
Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
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