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Construction sector to provide further drag on GDP -

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With seemingly endless numbers of cranes lining our city skylines, it might seem surprising that the construction industry is actually contracting.

The AIG Housing Industry Association Performance of Construction Index shows new orders fell in all four sectors included in the index: house building, apartments, commercial work and engineering construction.

Peter Burn is the head of policy at the Australian Industry Group and he explained the results to our finance reporter David Taylor.

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Peter Burn, Australian Industry Group, head of policy