Australian based illion published its latest business expectations survey, which has confirmed a cooling economic outlook.
The composite expectations index fell to its weakest level since the December quarter 2017, while the actuals index dipped to its lowest level since the September quarter 2017. The economy is on a path to slower growth.
The falls in the indexes fit with the general theme of the economy in recent months, which has seen a range of indicators, particularly as they relate to housing, pointing to a period of weaker growth. The construction sector appears to be on the cusp of a slowing in activity. A decline in dwelling construction activity and the pull-back in non-residential investment are starting to weigh on actual and expected capital expenditure in construction. Credit for property developers has also tightened appreciably since around the middle of 2018 and this is feeding into a concerning outlook for the construction sector.
Source: Illion Press Release To read the full release click here