Australian budget breakdown 2019: construction spending

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The 2019 Federal Budget promises to boost construction spending, especially for infrastructure projects. Our Australian budget breakdown looks at the implications for Queensland and the rest of the nation. Will the assistance go far enough to combat the bleak conditions affecting the industry?

It’s been a tough year for Australia’s construction sector, and we’re not even at the halfway mark yet.

Both residential and commercial projects are struggling, margin pressures are strong, there are fewer new orders and jobs are being shed for the eighth consecutive month.

Not a whole lot to feel good about, but there could be some relief around the corner!

Thankfully, conditions aren’t as severe as they were at the start of the year.

The Performance of Construction Index measures activity levels across the sector each month. It currently sits at 45.6 points, which is 1.8 points higher than February levels. The higher this number gets, the better, as anything above 50 indicates performance growth.

With any luck, these levels will continue to rise – especially in light of the promises made in the 2019 Federal Budget earlier this month.

Infrastructure, small businesses, regional communities and apprentices look set to benefit from this budget, depending on the outcome of the upcoming Federal election.

Now more than ever, we need to attract and retain anyone who’s a good fit.

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