Building pace starts to slacken

Construction work in Australia fell 1.9 per cent in the June quarter, the first decline in two years. However, after the record $17.8 billion reached in March, economists expect activity to remain fairly strong in the coming months. Despite the June quarter slip, there is still a substantial amount of construction work waiting to be completed, according to CommSec. Residential construction to be completed stands at almost double the level in March 2001. Non-residential work for completion totalled $8 billion, the highest level since the early 1990s.