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
Slowdown in 2023, except for Chinese cities
Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.Find Out More
European cities face a tough winter as recession spreads
Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.Find Out More