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Industry News, Latest News, Victoria

Engineering construction activity breaks VIC records

Victoria’s engineering construction activity has broken records for being the highest state total on record, valued at a total $16.7 billion in the 12 months to September 2018 according new Australian Bureau of Statistics (ABS) data.

Victoria’s engineering construction activity has broken records for being the highest state total on record, valued at a total $16.7 billion in the 12 months to September 2018 according new Australian Bureau of Statistics (ABS) data.

Engineering construction activity increased by 25.8 per cent, the highest of the mainland states, while the national average dropped by 34 per cent.

Victoria’s building work done totalled more than $36 billion over the year to September according to the ABS data.

The national average value of building work down increase by 3.5 per cent during the year to the September quarter, with the Victorian value increasing by more than double at 8.1 per cent.

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The state’s consumer index also increased by 3.1 per cent in January to 106.6, according to results from the Westpac Melbourne Institute. The national average dropped by 4.7 per cent to 99.6 over the same period.

Victorian Acting Treasurer, Ben Carroll, said the state government was delivering a pipeline of investment for the future of the state.

“These results are a fantastic start for Victorian economy in the new year, as we continue to bolster the nation with our strong economic growth,” Carroll said.