The current decline in engineering construction is set to become a sharp collapse over the next few years, a new report shows. There is a perfect storm facing the engineering construction market with oil and gas now joining the downturn already well underway in other resource segments. This will negatively impact industry employment and the broader economy, according to construction industry analysts BIS Shrapnel. Its new report, Engineering Construction in Australia 2014/15 - 2028/29, reveals that the total work done in the sector is set to fall by 13%, a steeper drop than expected. Following this, it will drop another 15% in 2015/16 with further "substantial declines" in the subsequent two years.
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