The Trend in the Construction Sector of the Australian Economy over the Past Ten Years

1.0 Introduction This report will examine the Australian twirl labor and highlight the industries trends over the past go years with specific focus on the Australian economy. It will use discipline obtained from sources including the Australian Bureau of Statistics, Australian Government and other construction related bodies. Research will focus on the coarse value added, employed persons, residential, commercial and engineering/ infrastructure/ minelaying grocery stores, private and public sectors. The report will aim to trace long term trends based on the analysis of the nurture obtained deep down each of the above areas. 2.0 Discussion 2.1 Gross Value Added The contribution of an industry to the overall production of goods and services in an economy, hoggish domestic product, is measured by gross value added. (ABS, category Book Australia 2009-10 Construction, 2010) Gross value added can be describe as a measure of the amount of goods and services produced, little the cost of all the inputs and materials that relate to the product. The Australian economy is market driven and is based on the principles of supply and demand. This suggests that with an expanding economy there should in any case be an expanding construction industry.

The construction industry however, does not forever and a day follow economic trend. This can be seen when we look at the gross value added to the construction industry of the last ten years. The gross value added (GVA) in the construction industry inside Australia peaked in 1999-2000 at approx 50 one thousand thousand dollars. (Refer to interpret 1) After this period GVA within the Australian construction industry dropped sharply. Since 2001 the industries GVA has continued to rise steadily and in 2008 reached 77 billion dollars. From 2001-03 the Australian and International economies began to slow and growth dropped internationally. However this did not impact on the economic growth of construction within Australia. (Refer to Graphs 2 and 3) In... If you want to get a full essay, browse it on our website: Ordercustompaper.com

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