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
$141.35 |
Change
1.410(1.01%) |
Mkt cap ! $236.5B |
Open | High | Low | Value | Volume |
$140.63 | $141.85 | $140.34 | $223.7M | 1.585M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8000 | $141.28 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$141.36 | 3270 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8000 | 141.280 |
1 | 1000 | 141.160 |
1 | 100 | 140.900 |
1 | 2657 | 140.760 |
1 | 213 | 140.700 |
Price($) | Vol. | No. |
---|---|---|
141.360 | 3270 | 1 |
141.380 | 2657 | 1 |
141.390 | 2410 | 1 |
141.400 | 565 | 1 |
141.420 | 2400 | 1 |
Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
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CBA (ASX) Chart |