Craig James celebrates the infrastructure bust

Great excitement at COMMSEC:

Engineering: Engineering construction work done fell for the third straight quarter, easing by 4.9 per cent in real (inflation-adjusted) terms in the March quarter. And work done is down 13.5 per cent on a year ago.

 Infrastructure boom: Excluding the resource sector (coal, oil, pipelines etc.) work yet to be done stood at a record high of $47 billion in the March quarter. A record $36.6 billion of engineering work is yet to be done in NSW and Victoria. The data on engineering construction work is important for builders, building material companies, professional services, developers, government businesses and other dependent sectors and industries.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.