Australian construction work completed falls in Q3, engineering drags: While it is clear that there is some rebalancing taking place, residential construction...

Australian construction work completed falls in Q3, engineering drags: While it is clear that there is some rebalancing taking place, residential construction is trending higher, it should be noted that engineering construction, despite the sharp decline witnessed in recent quarters, still makes up 56.1% of all construction spend. With the largest component sliding sharply it does beg the question whether the other components are likely to offset the continued slide expected in the year ahead? As they have noted many times this year the RBA lowered rates to spur construction activity in non-mining sectors of the economy. As it sits at present the pick-in those areas looks unlikely to stem the overall decline ahead. Would be great to hear the views from @SCallow, @jeliseo, @dbassanese, @ccaton, @cweston, @msomasundaram, @CKusher, @SKoukoulas and @peteal on this one. (VIEW LINK)