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Builders expect recovery in the medium term

A national survey suggests that the construction sector will experience a recovery in the medium term.
<p $$hash="7286-0"><span $$hash="7285-0">Australian builders expect a recovery within the construction industry in the medium term, although they will be struggling in the short term.

<p $$hash="7303-0"><span $$hash="7302-0">This was the opinion found in the Master Builders National Survey for the March quarter of 2013, which surveyed 500 builders and contractors across Australia.

<p $$hash="7305-0"><span $$hash="7304-0">Chief economist of Master Builders Australia, Peter Jones, explained how the expectation levels for activity in the industry were above the neutral level for the survey, which could spell better prospects in the short and medium term for construction.

<p $$hash="7307-0"><span $$hash="7306-0">He said: “As a major driver of economic growth and employment, a strong recovery in the building and construction sector is vital for Australia’s economy.”

<p $$hash="7309-0"><span $$hash="7308-0">Recently, work in the construction sector has appeared to be picking up, as recent figures from the Australian Bureau of Statistics has shown a 3.1 per cent increase in the number of new dwellings to be built across the country. This follows on from a two month decline in new build approvals.

<p $$hash="7310-0">Posted by Craig Francis

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