ACIF forecast end of mining and residential booms

The best could be over for the nation’s mining and residential sectors, according to a recent Australian Construction Industry Forum (ACIF) forecast.

ACIF Chief Economist, Kerry Barwise, said the forecast was precipitated by a double digit fall in engineering construction for both sectors.

“The May 2016 ACIF Forecasts re-chart the course of building and construction industry as it surfs the downside of tsunami-sized waves of investment,” Barwise said.

“The industry has ramped up residential building following the once in a lifetime mining boom, but that too is now coming to an end.”

The May 2016 ACIF Forecasts revealed a second consecutive 5% annual fall in aggregate activity, reducing 2015-16 total construction activity by $12 billion.

The ACIF is responsible for producing economic forecasts on engineering construction regarding residential and non-residential building.

This year, ACIF is partnering with Expotrade in regards to the 8th Annual Victorian Transport Infrastructure Conference.

Pia Argiratos of ACIF, said they were excited to be supporting the conference.

“We are interested to hear how this sector is handling the end mining resources boom, and where businesses will be focused next,” Argiratos said.

“Building Information Modelling (BIM) and project team integration are changing the business case for major projects, with new efficiencies possible through technology but also change in project management methodology.”

The 8th Annual Victorian Transport Infrastructure Conference will be taking place at the Melbourne Convention and Exhibition Centre on the 15^th  & 16^th  of June 2016.

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