THE last interest rate hike in November continues to cast a shadow over our $100-billion-a-year construction industry, despite a strong performance by the sector towards the end of 2006.
That's according to a survey released yesterday on both housing and commercial construction, which shows the rate rise has not been fully absorbed by either.
The survey of companies for the Australian Industry Group-Housing Industry Association Performance of Construction Index (Australian PCI), showed a rise of 4.5 points in the index in December to 52.1 points. A reading above 50 indicates expansion. Below 50 is contraction.
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