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CONSTRUCTION INDUSTRY CONTRACTS AGAIN

October 07, 2019

The construction industry has faced another steep decline for the 13th consecutive month, under the Morrison Liberal Government and yet they have no plan whatsoever to deal with the significant structural issues facing the industry.
 
The Australian Industry Group Performance of Construction Index (PCI) registered 42.6 points in September – a decrease of 2.0 points from August.

There were falls in activity across residential, commercial and engineering construction sectors.  Employment also took a hit with job declines continuing in September 2019.

The fall in the construction industry reflects falls in residential building activity, particularly apartment buildings, and a continued drop in commercial construction.
 
The economy is floundering under the Morrison Liberal Government and they must heed these economic warnings.
 
The Australian PCI follows and reflects Australian Bureau of Statistics data that revealed a significant drop in the number of new homes being built and the potential of 100,000 construction jobs losses due to declining building approvals.
 
The data follows rising instances of problems in the building industry from cracking apartments, increases in professional indemnity insurance, the use of combustible cladding, and growing cases of phoenixing, all of which are threatening a downturn in the sector along with public safety.  

Each day the Morrison Government fails to take leadership and respond to the building industry crisis, businesses are closing down, the safety and lives of Australians are put at risk.

The construction industry is national and is critical to the Australian economy, but this Government is failing to manage the many challenges it’s facing.
 
The Government must heed these warnings along with other recent warnings from a number of economists and the latest Australian Bureau of Statistics figures, that show the construction sector slowing.

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