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Government stimulus packages expected to help Australian construction industry
August 15, 2011
By wmi
A large government stimulus package, aimed at increasing infrastructure spending and creation of jobs, is expected to help the Australian construction industry stabilise over the next few years.
The Australian construction industry is expected to grow at a CAGR of 6% to 2015 with the help of the government stimulus package and increased private sector construction spending. The Australian government is anticipated to spend AUD17.5 billion (US$16.0 billion) on improving the education sector over the next three years under Building Education Revolution (BER) scheme.
In 2010, Australia's population grew by 1.2%which was higher than many developed countries. The rapidly growing population is expected to drive demand for houses during the forecast period. The residential construction market is expected to demonstrate a CAGR of 4.88%, representing strong growth in line with other markets.
All these and many more facts and figures in addition to an in-depth analysis can be found in the report The Future of Construction in Australia to 2015: Government's AUD45.8 Billion Stimulus Package to Increase Social Construction Projects published by World Market Intelligence (WMI).
To access the complete report, please visit our premium subscription Construction Intelligence Center product www.worldmarketintelligence.com/ic/construction.
Posted by wmi on August 15, 2011 7:54 AM
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