AiG Construction PMI

The AiG Construction Purchasing Managers Index (PMI), released on a monthly basis by the Australian Industry Group, is a leading indicator gauging business activity in Australia’s construction sector. The Construction PMI, which is a sub-component of the AiG Industry Index, reflects the real estate developers' assessment of the business situation conditions in the short and medium term in the construction market. Companies answer questions related to production, employment, prices, supplier deliveries, inventories and new orders. A positive reading indicates that activity is expanding; negative indicates contraction. The distance from zero indicates the strength of the expansion or decline. A positive reading tends to be a bullish sign for the Australian Dollar (AUD). Meanwhile, a negative reading is seen as bearish for AUD.