Australian construction industry managed to show positive growth rate for two months at a stretch. But the data shows that the growth rate has slowed down, as the expansion rate went down.

The latest data collected in the Performance of Construction Index shows that the index has gone down by 4.9 points to become 52.8 for the month of February. The collection was done by Australian Industry Group and the Housing Industry Association.

However, the good news is that the level is still above the 50 benchmark, which means that expansion is still happening. Unlike the past, contraction of the building and construction industry has stopped.

Talking about the figures Group Director, Public Policy, Australian Industry Group, Peter Burn said that it was the apartment sector which showed volatility in figures. Others like the engineering, commercial and house building sectors have all shown good growth figures.

Slowing pace, he said is the effect of the growth being linked to new contracts as well. Since February had fewer new contracts, the figures went down.

He further added that the overall economic environment is good for the industry and that the housing activity will perform well in the coming months.