Australia is forecast to experience a $7.3 billion surge in transport and utilities infrastructure – the strongest growth in nearly a decade, according to the latest Australian Infrastructure Metric from Infrastructure Partnerships Australia (IPA) and BIS Oxford Economics.
The metric also forecast the nation’s construction activity is set to expand for the first time in four years.
IPA Chief Executive Brendan Lyon said the growth is the strongest sign yet that Australia has finally hit bottom and rebounded on infrastructure.
“This confirms Australia’s transport infrastructure-led recovery, with the last quarter seeing the highest-ever level of rail infrastructure activity,” said Mr. Lyon.
“Our forecasts will see the $7.3 billion in non-mining infrastructure more than fill the $6.6 billion retreat in mining infrastructure, with total engineering construction to grow for the first time since FY2012/13.
“The last four years have seen average falls of circa $14 billion year on year, meaning less infrastructure, less money in the economy and [fewer] jobs for people.”
Mr. Lyon says the figures largely reflect the significant infrastructure programs in New South Wales and Victoria, which are masking the collapse in infrastructure in other states.