Webinar: ACIF Forecasts May 2016
Exclusive event for Subscribers
|Date:||Thurs 16 Jun 2016|
|Venue:||Online Webinar - Your desk, iPad/Tablet etc|
|Cost:||AU $ 200|
Exclusive online webinar for ACIF Forecasts Subscribers
ACIF Forecasts Subscribers are invited to hear the details behind the ACIF Forecasts for May 2016, released only weeks ago. Kerry Barwise, Chief Economist and author of the ACIF Forecasts presents the key highlights and big issues for the building and construction industry as we look forward into the next decade of work across 20 work types, across Australia.
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Australian Construction Industry Forum (ACIF) recently released the latest ACIF Forecasts, revealing how the sector is coping with another double digit fall in engineering construction plus the impending peak of residential building.
In this exclusive online event for subscribers and partners only, hear Kerry's explanation on the macro and market shifts of greatest concern - and intrigue - to this industry.
“The May 2016 ACIF Forecasts re-chart the course of building and construction industry as it surfs the downside of tsunami-sized waves of investment,” said Kerry Barwise, Chief Economist for ACIF.
“The building and construction industry is playing a key role in the transition of our economy away from resources towards a more diversified economy.
“The industry has ramped up residential building following the once in a lifetime mining boom, but that too is now coming to an end.”
The May 2016 ACIF Forecasts reveal a second consecutive 5% annual fall in aggregate activity, reducing 2015-16 total construction activity by $12 billion to $212 billion.
These forecasts have also ground $5-10 billion off the level of construction activity that was projected in each year over the next three years, largely reflecting a more stringent downgrade to the outlook in Engineering Construction following the mining boom and the expected dip in Residential Building. Residential builders are still working through an enlarged construction pipeline and building work is expected to top $91 billion in real terms in 2016-17 before falling.
However, despite the sweeping changes and challenges, this is not the time for doom and gloom. Irrespective of the passing of booms in two major construction sectors, these forecasts also identify areas of construction activity that will assist an economy in transition.back