Completed Construction Work Up 8.1 % For 2017

Completed Construction Work Up 8.1 % For 2017

New South Wales Treasurer Dominic Perrottet

New South Wales Construction Fuels Economy

Victor P Taffa

Completed construction activity in New South Wales rose strongly over the year as both building and engineering spending notched up strong growth according to latest ABS construction data, with construction work completed climbing 8.1 % in 2017.

Engineering spending surged 20 % over the year, led by the New South Wales Government’s massive infrastructure program. This is compared with 6.6 % growth for the rest of Australia.

 

Building spending remained at record levels, growing by 2.1 %, compared to 0.9 % growth for the rest of Australia.

New home construction also remained at record levels in New South Wales, despite a fall of 7.5 % for the rest of Australia.

New South Wales Treasurer Dominic Perrottet said these results were yet more evidence that the Government’s record infrastructure investment is delivering opportunities and growth for the people of New South Wales.

“Our record infrastructure means that New South Wales’s economic momentum will continue for years to come.” Treasurer Perrottet said.

“That’s good news for families and businesses that are looking to establish themselves in this great State.”

“There is no doubt the strong growth in spend on both engineering and building means there is more opportunity, more jobs and more security for the people of New South Wales.”

“When we came to government, the Liberals & Nationals Government presented a vision of hope to the people of New South Wales, and now the numbers tell the story of why the people of New South Wales backed us.” Treasurer Perrottet said.

Recent data from ABS showed that New South Wales retained its position as the state with the lowest unemployment rate of any state for 32 consecutive months, 0.6 % lower than the rest of Australia.

Abbreviations

ABS                Australian Bureau Of Statistics