Despite levels of engineering construction work in South Australia falling off from a peak, the state’s engineering construction industry still has plenty of work to do, say industry forecasts from Australian Construction Industry Forum (ACIF).
The short term outlook shows a softening before a return to moderate growth, which remains at historically high levels for the state. Notwithstanding the Olympic Dam setback, there is still strong demand in mining and related engineering over the next nine quarters, as well as telecommunications, pipelines and electricity.
This forecast is something that the other sectors of residential and non residential building would relish, however, as the forecasts show an enduring flat market for these sectors.
“Businesses in South Australia need to keep aware of the work that is coming in order to stave off poor decisions,” said Executive Director of ACIF, Peter Barda.”The outlook for work outside of engineering construction remains soft throughout ACIF’s forecasting term of 10 years, so ACIF Forecasts are a crucial business resource to help businesses shape their plans to make the most of their market.”
The industry reports are developed from data generated by the ACIF Forecasts, industry forecasts of demand that are built on reliable indicators of demand, plus the input of a unique set of industry experts, so businesses and individuals are able to plan effectively.
“ACIF Forecasts have a reputation for accuracy because they are draw together not only high quality data but also infuse the results with the knowledge of our Construction Forecasting Council, a panel of experts who temper the numbers with an important reality filter.”
“South Australian residential and non residential building will remain soft for the remaining of our rolling ten year forecasting outlook,” said Mr Barda.
The chart at right shows the relatively strong outlook for the South Australian engineering construction sector.
Businesses can access information on residential, non residential building and engineering construction from the ACIF Forecasts, as summaries, data and state Construction Market Reports. All are available at www.acif.com.au.