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Economic Outlook Report.pdf

MCA-PRESIDENTS-REPORT-SEPT-2023.pdf
Preview of Economic Outlook Report
🔗 Source: masonrycontractors.com.au
📊 Size: 98 KB
📄 Pages: 2 pages
⬇️ Downloads: 240

Summary

GDP growth is expected to remain restrained due to cost-of-living pressures and higher interest rates, with the construction industry facing elevated uncertainty, subdued growth, and potential recession. Local challenges include tighter monetary policy, lower household purchasing power, labour and supply chain costs, and material wait times. The industry is shifting towards collaborative, cost-based contracts, and companies must recalibrate their partnerships to deliver work successfully. Despite a predicted 2.6% shrinkage in 2023, the long-term outlook is positive, with 3.1% annual growth forecast from 2024 to 2027, driven by sustained infrastructure development.

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Description

GDP growth is expected to remain restrained due to cost-of-living pressures and higher interest rates, with the construction industry facing elevated...

Technical Information

  • File Format: PDF
  • File Size: 98 KB
  • Pages: 2
  • Language: EN
  • Total Downloads: 240
  • Last Updated: 1 week ago

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