Jan 03, 2016

The construction litmus test on the north’s economy

The construction litmus test on the north’s economy

Screen-Shot-2016-01-01-at-4.05.40-pmConstruction will be a key driver in the future economic development of the north west.

The latest Offermans Northern Exposure September quarter report also shows solid growth in the far northern construction sector over the past two years.

Construction is north Queensland’s second largest industry, contributing $7.8 billion (10.7 per cent) to Gross Regional Product (GRP) in 2013-14. Construction is also a significant employment industry, contributing nearly 35,000 jobs in 2011, according to Offermans.

Cooling investment in coal and gas infrastructure is telling on regions they are centered on, namely the Mackay and Fitzroy (including Gladstone) statistical divisions where demand and associated building activity has been declining over the past 18 months.

It has been flat in the northern region over the same period.

For more detail go to our Industry Reports section on the home page:

https://industryadvocate.com.au/wp-content/uploads/2016/01/Northern_Exposure_Q2_2015_16.pdf

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