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But that growth currently remains on trend, 'A very impressive position to be in at the tail of a resources boom' says today's Deloitte statement.
The Investment Monitor had a total recorded value of projects of $822.4 billion, a 5.4% increase from the previous quarter and 0.3% above the level recorded a year earlier.
The value of under-construction or committed projects increased by just over $48.6 billion over the quarter, a 12.7% rise. This takes the value of definite projects to its highest level since June 2015.
The value of planned projects in the database contracted by $6.7 billion, a 1.7% fall from the previous quarter.
Engineering construction is down by 27% over the year and activity in this sector is expected to fall back to 2005-06 levels by 2019-20.
Commercial property construction and other non-mining investment are showing weakness. "If the latest survey of private sector investment intentions published by the Australian Bureau of Statistics turns out to be correct, non-mining capital investment could fall to 4% of GDP in 2016-17 the lowest level since the survey began in 1987."
The Investment Monitor data follows Deloitte's monthly business outlook for July, which was released last week.
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