As you can see in the chart below, engineering construction - mainly related to resources projects - peaked at the heady levels of nearly $35 billion back in 2012, but has been retracing ever since.
The quarterly decline was more or less offset by a 1.3 per cent increase in building work done to $26.7 billion, leaving total construction work done in the fourth quarter all but flat at -0.2 per cent.
Mining cliff nearing the end
Iron ore projects pump out high volumes and reserves tend to be depleted quickly, and as such further investment will be required in existing projects in the Pilbara.
This is one reason why the chart below now appears to be flattening out.
Another reason is that in all of the other densely populated states, including Queensland, engineering construction is no longer in decline.
The rolling annual figures do now look peaky, though.
Looking specifically at the construction of attached dwellings (being townhouses, units, and apartments) this sector was still going like the absolute clappers at the end of 2016, particularly in Sydney and Brisbane.