The detail of the ABS Construction Work Done release sounded two very significant alarm bells

The detail of the ABS Construction Work Done release sounded two very significant alarm bells. Firstly, as an input into the Q3 National Accounts declining engineering construction - particularly in Western Australia & Queensland - is set to act as a significant drag on the economy over the years ahead. And secondly, the record number of apartment approvals over the past year is now beginning to manifest itself in reality, with apartment construction ramping up to levels not previously seen in Australia, which itself introduces a systemic risk. Caveat emptor - we take a look at some specific areas of looming oversupply and the related risks. (VIEW LINK)