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Market Update – Jan 2022

Market Update from Calibre Steel

Towards the end of the year, even in the face of uncertainty as variants of the coronavirus emerge, several indicators are showing signs of optimism. The unemployment rate declined in November as restrictions are eased and more jobs become available. Some state borders have re-opened and international travel with qualifications has also resumed. Skilled migrants and foreign students are also being welcomed back, heralding an increase in economic activity. With this increase, the pandemic is still seen as a risk and can threaten stability as Omicron infection cases surge. Despite the near-term fluctuation in construction start values, the long-term comparison over the previous period shows a hearty overall gain.

Source: BCI Forecaster

In light of the discovery of the new Omicron variant of the coronavirus, the reopening of the country to skilled workers and foreign students has been delayed until more information is known. Nonetheless, commentators are accepting of the fact that people must carry on with the virus and its variants in everyday life. Total construction starts for the coming three months are seen to reach an 18% increase compared to the earlier period, thanks mostly to the contribution of the civil sector which is propelling the total upward.

Source: BCI Forecaster

 

 

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This market update data is provided by BCI Forecaster.

BCI Forecaster delivers research on well over 100,000 construction projects p.a. in all stages of development from early concept-design to construction.

Source: BCI Forecaster

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