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Australia

Australia Construction Costs

Australia has avoided an economic slowdown thanks in some part to decent growth in the private housing & commercial construction sector.  Skilled labor availability has picked up substantially, salaries & hourly wage rates are forecast to remain stable or moderate slightly for the 2nd half of 2017.  Unemployment in the construction sector is expected to increase marginally in the 2nd half of 2017.  Low commodity (oil, gas & minerals) prices will continue to stymie the Australian economy & construction sector.  Australian construction inflation is forecast to be in the 1.3% to 1.9% range for the 2nd half of 2017.  Australia’s GDP is forecast to grow in the 2.5% to 2.9% range in the 2nd half of 2017.  Unemployment in 2017 is forecast to be in the 5.5% to 5.9% range.  It appears that the majority of the “mega” LNG projects are just about completed (Wheatstone, Pluto, Browse etc.), these projects employed tens of thousands of construction related workers.

New Zealand construction inflation is forecast to be in the 1.5% to 1.9% range for the 2nd half of 2017.  New Zealand’s GDP is forecast to grow in the 2.2% to 2.7% range in the 2nd half of 2017, New Zealand unemployment in the 2nd half of 2017 is forecast to be in the 4.9% to 5.5% range.


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