Australian Construction Outlook – Resources

The resources construction sector experienced a modest upturn in 2020/21. If we exclude oil & gas however, the upturn has been quite substantial, with the overall sector impacted by persistent declines in gas / LNG investment.

Gas and LNG investment, is still falling from the 2014 peak, and is only expected to begin to recover in 2022/23.

Meanwhile, outside the gas sector, resources construction has doubled in the last 4 years and will reach its peak in 2021/22. Stimulatory fiscal and monetary policies across the globe, combined with vaccine roll-outs are improving economic growth and expectations, and soaring prices in iron ore, coal and other commodities all contribute to continued strength in the sector.

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