Virus to exacerbate building construction bust

Tuesday 10 March 2020

2020 was already shaping as a tough year for Australia’s construction industry.

According to the ABS, dwelling approvals collapsed in the 2019 calendar year, down 28% from peak, with commencements following close behind:

Now, picture has worsened with Australian Shop & Office Fitting Industry Association CEO, Gerard Ryan, claiming its members are looking at delays to projects of up to six weeks because the coronavirus outbreak is delaying the supply of products from overseas:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.