REBUILDING AUSTRALIA: A Plan for a Civil Infrastructure Led Recovery
BIS Oxford Economics was commissioned by Civil Contractors Federation National to provide a study detailing how civil construction investment can be a tool for broader economic recovery in the face of the COVID-19 downturn.
The report is an independent assessment of the economic impact of civil construction activity to the financial year FY23, the impact on employment and activity under different scenarios, challenges and risks to an ‘infrastructure-led’ recovery and potential solutions.
The Australian heavy and civil engineering industry is a significant contributor to the Australian economy and has significant multipliers on investment. For every $1 million invested in the Australian heavy and civil engineering industry:
- 7.2 workers are employed in the construction and related industries
- $1.3m is contributed to Australian GDP
- $2.95m of output is contributed to the economy
BoK’s monetary policy to tighten even as hiking cycle ends
Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.Find Out More
China: Emerging green shoots in Spring, but not out of the woods
We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).Find Out More