Latest figures: Public infrastructure to rebound $7.3 billion - eclipses mining infrastructure

02 October 2017

The latest forecasts show Australia set to enjoy a $7.3 billion surge in transport and utilities infrastructure – the strongest growth in nearly a decade, and sees overall construction activity set to expand for the first time infour years – according to the latest Australian Infrastructure Metric from Infrastructure Partnerships Australia and BIS Oxford Economics.

“We forecast that transport and utilities infrastructure will surge by $7.3 billion next year, the strongest growthin a decade and the strongest sign yet that we’ve finally hit bottom and rebounded on infrastructure,” said IPA Chief Executive Brendan Lyon.

“This confirms Australia’s transport infrastructure-led recovery, with the last quarter seeing the highest-ever level of rail infrastructure activity.

“Our forecasts will see the $7.3 billion in non-mining infrastructure more than fill the $6.6 billion retreat in mining infrastructure, with total engineering construction to grow for the first time since FY2012/13.
“The last four years have seen average falls of circa $14 billion year on year, meaning less infrastructure, less money in the economy and less jobs for people.

“These figures largely reflect the massive infrastructure programmes in NSW and Victoria, which are masking the collapse in infrastructure in the other states.”

 

--ENDS--

 

Source:  Infrastructure Partnerships Australia - wwww.infrastructure.org.au

Contact:  Sarah Dagg T 0438 380 464

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