Australia Construction Index Falls In January - AiG
"An index measuring construction activity in Australia came in at 40.2 in January, the Australian Industry Group said on Monday, declining for the eighth consecutive month. Among the individual categories, home building dropped 2.2 points to 37.3, while engineering work plunged 19.6 points to 38.7 and commercial work declined 5.6 points to 38.6. "
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2 comments:
Australia has a huge housing bubble. If China ever slows down Australia will be in a world of pain. Steve Keen has an excellent blog on the housing bubble there. Good read.
SO does China, I think things are already in motion but it is being masked by the world stock markets.
I am watching interest rates and the US $ for my keyoffs, but the BERNANK in or appears clueless in what he is unleashing here....
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