5 years ago
CONSTRUCTION INDUSTRY FACES STEEPEST DECLINE IN SIX YEARS
BRENDAN O’CONNOR MP
The construction industry has faced its steepest decline in six years, under the Morrison Liberal Government.
The Australian Performance of Construction Index (PCI) registered 39.1 points in July – a decrease of 3.9 points from June, indicating that the construction industry on aggregate declined sharply in July, and at the steepest rate in six years.
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 recent 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.
From shirking any responsibility for what is now a broken regulatory and enforcement regime in the building industry, to failing to deal with the importation of non-conforming building products and growing cases of phoenixing, the Government is not effectively dealing with the economic and safety crisis affecting the building and construction industry.
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 economy is floundering, wages and living standards are stagnating, and the Liberals have no plan to turn things around.
The Australian Performance of Construction Index (PCI) registered 39.1 points in July – a decrease of 3.9 points from June, indicating that the construction industry on aggregate declined sharply in July, and at the steepest rate in six years.
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 recent 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.
From shirking any responsibility for what is now a broken regulatory and enforcement regime in the building industry, to failing to deal with the importation of non-conforming building products and growing cases of phoenixing, the Government is not effectively dealing with the economic and safety crisis affecting the building and construction industry.
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 economy is floundering, wages and living standards are stagnating, and the Liberals have no plan to turn things around.