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Building Industry Prospects June 2021 Bulletin

The trajectory for housing demand and private business investment has firmed over recent months, indicating a stronger near-term building investment outlook. Total building is estimated to have returned to growth in FY2021 (+6%), with activity receiving a significant boost from pandemic related stimulus. Further expansion is forecast for FY2022 (+2%) and FY2023 (+4%), lifting total building to a near record $127.68 billion.

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