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Market Update – Mar 2022

Market Update from Calibre Steel

GDP results for Q4 2021 have just been announced by the Australian Bureau of Statistics (ABS) at a rise of 3.4% on quarterly terms as several states emerge out of prolonged lockdowns. From a year-on-year perspective, the GDP posted a 4.2% gain over Q4 2020. According to the ABS, the spread of the Omicron variant of the coronavirus did not make a significant impact on economic activities for the period. The easing of restrictions has caused an increase in household consumption that contributed to the favourable result.

Total construction starts continue to exhibit an optimistic long-term trend, but although there is an improvement in the short-term comparison, the December spike in value continues to influence the short-term reading. Civil commencements are seen to offset the weakness in the April reading from the building segment, thanks mainly to infrastructure projects making their way out of the pipeline.

Source: BCI Forecaster

market update
Source: BCI Forecaster

Prospects for the residential sector and commercial categories are looking better in the coming months as market conditions also lookup. The residential sector has shown an increase in building approvals and with the reopening of borders and return of immigration after two years, steady progress may be sustained.

Infrastructure projects feature substantially in the coming months, although the utilities sector has been rather quiet, in our recent Pipeline reports, a significant value of developments under planning stages have been reported. Therefore, we are expecting a major replenishment of utilities projects in the future.

 

market update

 

Source: BCI Forecaster
To download the complete update click here

 

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.

 

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