WOR - up 8% and over 52 week high, page-33

Graph to illustrate point re public v pvt capex.


Construction activity is likely to fall in 2Q16, but public infrastructure spending is rising. Earlier (1Q16) commencements data suggest some early signs of the long-awaited upswing in infrastructure spending. Whilst this will support construction activity as a whole, it is unlikely to be enough to offset headwinds in the private engineering and non-residential construction segments.
 The economy’s ongoing difficult transition away from the mining sector remains a dominant feature of the economic landscape. As an early partial component of the 2Q16 GDP outcome, the construction data will provide some early clues to where we stand now. Our expectation and the consensus point to little challenge from the construction data to the prevailing view that the 2Q16 GDP outcome is likely to be a soft one.
http://www.macrobusiness.com.au/201...are&utm_term=More on the fiscal spending rush