As you can see from my chart below, private sector building work is responding rather nicely to low interest rates.
Quarterly public sector expenditure fell to below $2.2 billion, which is far below the more stimulatory levels seen through the financial crisis which peaked at more than $5 billion.
The economy could evidently use some infrastructure investment, though I'm not a tall sure we'll get it.
Part 2 - State versus state building
But the real fun and games are taking place in the apartment construction sector.
Prospective investors clearly need to understand the property markets at a suburb and micro level in this respect.
Part 3 - The mining cliff
However, even the Northern Territory saw engineering construction work done decline from $2.1 billion to $1.7 billion in the first quarter, with some delays to the planned 2017 start-up date having been reported related to Inpex.
My chart packs have shown here previously that the pipeline for mining capital expenditure is desperately weak, and there will be further data to report on expected capital expenditure declines later this morning.
Capex related to Ichthys still has a way to run, granted, while Adani is hoping to proceed with its $10 billion thermal coal project (despite the minor inconvenience issue that at today's prices the project can barely be viable).
But these monster projects aside, weakening commodity prices will ensure that mining investment is heading all the way back down where whence it came, which is why we call it a commodity cycle.