New south wales leads construction down under

New South Wales is leading construction in both non-residential and engineering sectors, according to the Summer 2015 edition of the ACI Construction Monitor.

“NSW continues to post consistent strong performances across a range of industry segments without any true stand-out performances. Despite taking out top spot overall, NSW ranked second to Victoria for best performing jurisdiction in non-residential building, and ranked second to the Northern Territory for best performing jurisdiction in engineering construction.

“In an aggregate sense, falling expenditure on non-residential construction will be a weight in the saddlebag for Australia’s economic growth, lasting as long as t takes for mining sector expenditure to normalise. Our forecast shows growth in total non-residential construction is expected to return in 2017/18, but it does not need to take that long. If we see more favourable currency conditions and
interest rates remaining low, we could see investment in non-residential construction make a positive contribution to economic growth sooner,” concluded HIA Economist Geordan Murray.