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I noted last week how the construction industry has experienced an unprecedented surge in insolvencies since the COVID-19 pandemic:
This surge in insolvencies was caused by a ‘perfect storm’ of factors, including material cost inflation, supply‑chain disruptions, and labour shortages, which drove up construction costs by more than 40%:
Source: Master Builders Australia
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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.