Engineering construction keeps the economy moving

Master Builders Australia Media Release

There was a 3.3 per cent increase in the volume of engineering construction work done during the September 2024 quarter, according to new data from the Australian Bureau of Statistics.

This was predominately driven by a strong 5.5 per cent expansion in public sector projects.

However, private sector engineering construction work saw a more modest increase of 1.4 per cent during the quarter.

Shane Garrett, Chief Economist, Master Builders Australia said:

“Engineering construction is now one of the economy’s strongest performers, and is keeping economic growth above the waterline.

“The contribution of public infrastructure work is crucial: activity here is +13.4 per cent higher than a year earlier.

“Boosting our stock of infrastructure like this means that our economy will have more room to growth over the long term and reduces inflationary pressures re-emerging in the future,” Mr Garrett said.

Denita Wawn, CEO Master Builders Australia said:

“When the building and construction industry is strong, so too is the economy. For every $1 million invested into the industry, $3 million is returned to the economy.

“Investment in engineering construction like roads, rail and other critical infrastructure, plays a crucial role in addressing the housing crisis.

“Private sector demand has been lacking in momentum for some time and the upcoming federal budget needs to address this,” Ms Wawn concluded.

 

See also: Statement regarding Whyalla Steelworks

 

Dear reader, we need your support

Independent sites like The AIMN provide a platform for public interest journalists. From its humble beginning in January 2013, The AIMN has grown into one of the most trusted and popular independent media organisations.

One of the reasons we have succeeded has been due to the support we receive from our readers through their financial contributions.

With increasing costs to maintain The AIMN, we need this continued support.

Your donation – large or small – to help with the running costs of this site will be greatly appreciated.

You can donate through PayPal or credit card via the button below, or donate via bank transfer: BSB: 062500; A/c no: 10495969