Australia | Road maintenance races ahead, construction in pit stop
Governments around Australia pursued an ‘infrastructure-led recovery’ to kickstart the economy following the coronavirus induced 2020 recession. As part of this recovery the Federal Government announced the fast-tracking of shovel-ready’ infrastructure projects and an acceleration of work on a number of major transportation projects that were already in the pipeline.
What you will learn:
- Public funded road construction activity fell 4.4% over FY21 to an estimated $11bn, its lowest annual level since FY15
- The upcoming boom in road construction activity will be driven by major publicly funded urban highway and arterial projects in Australia’s four largest cities
- Major government funded projects are expected to see public road construction activity increase from $11bn in FY21 to a record $19.9bn in FY24
Tags:
Related Services
Post
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
Post
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