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Australia and New Zealand Construction Forecast 2019

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Across the board, economists are predicting a downturn in the
market. Yet many still remain positive as we move toward 2019.
Hans Kunnen, Principal & Chief Economist at Compass Economics
shared his forecast for the Construction Industry heading into the
new year.

“There are some real positives for the construction industry in 2019.
Interest rates should remain low, the population continues to grow
and governments are spending on infrastructure.
Is it all upside? No. Residential building approvals are in decline.
Banks are tightening their lending conditions, investors are being
scared off by lower house prices and Chinese demand is falling due
to restrictions on capital flowing out of China.”

“Despite softness in the residential
construction sector, activity will
remain at historically high levels. The
slack from residential construction
should be taken up by government
spending on social infrastructures
such as schools, hospitals and
correctional facilities.

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