Construction Industry Falling Like Dominoes
Announcement posted by DesignBuild Source 07 May 2012
Construction and the economy
As Australia’s construction industry remains in contraction, construction companies are experiencing the repercussions with job losses, insolvencies and long lists of debtors.
In last month’s Australian Industry Group’s Performance Index, results showed that low demand and slow conditions, particularly in the residential and commercial construction sub-sectors, continued with house building in particular reaching its lowest level in six months.
In a recent Australian Industry Group press release, AIG Director Public Policy, Peter Burn, said, “Large parts of the national construction industry remained stuck in the doldrums. Very weak conditions continue in the house and apartment building and commercial construction sectors and this is flowing on to a cross-section of service and manufacturing businesses. Engineering construction also softened during March but from a much more robust base than the rest of the industry. The further fall in new orders points to a continuation of flat conditions over the coming months.”
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In last month’s Australian Industry Group’s Performance Index, results showed that low demand and slow conditions, particularly in the residential and commercial construction sub-sectors, continued with house building in particular reaching its lowest level in six months.
In a recent Australian Industry Group press release, AIG Director Public Policy, Peter Burn, said, “Large parts of the national construction industry remained stuck in the doldrums. Very weak conditions continue in the house and apartment building and commercial construction sectors and this is flowing on to a cross-section of service and manufacturing businesses. Engineering construction also softened during March but from a much more robust base than the rest of the industry. The further fall in new orders points to a continuation of flat conditions over the coming months.”
Continue Reading