Construction slump
Australia's construction sector contracted for a 5th consecutive month in October.
House and apartment building, previously disrupted by flooding, still remain deeply contractionary territory.
The employment index also notably fell into contraction.
Overall, the PCI gauge dropped another 3.2 points to 43.3 (under 50 denoting contraction).
Source: AIG
Rental vacancies sunk to an all-time low last month, just as immigration is beginning to ramp up rapidly.
On the plus side, this will begin to take the heat off construction materials and trade prices.
