Further weakening in engineering and commercial construction expected

(c) constructioncontractor.com.au

Following a sustained period of solid growth, Australia's leading construction companies are forecasting a marked slowdown in the rate of activity growth through 2009, followed by a decline in 2010.

The latest Australian Industry Group/Australian Constructors Association Construction Outlook survey reveals that after rising by 9.9 per cent in 2008, the value of engineering and commercial construction work is forecast to fall to a 2.3 per cent growth rate in 2009.

Demand for building and engineering professionals slumps

The Clarius Skills Index for Building and Engineering professionals fell sharply in the March quarter of 2009, with labour supply exceeding demand in the sector by more than 1,000.


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