NSW CONSTRUCTION FUELS ECONOMY

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 per cent in 2017.  

Engineering spending surged 20 per cent over the year, led by the NSW Government’s massive infrastructure program. This is compared with 6.6 per cent growth for the rest of Australia.  

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

New home construction also remained at record levels in NSW, despite a fall of 7.5 per cent for the rest of Australia. 

NSW 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 NSW. 

“Our record infrastructure means that NSW’s economic momentum will continue for years to come,” Mr Perrottet said. 

“That’s good news for families and businesses who 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 NSW.  

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

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