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New 'compass' for construction industry

01 April, 2014

In May, Australian Construction Industry Forum (ACIF) will release its new Customised Forecasts Dashboard, a new data portal for businesses large and small to generate tailored Forecasts that give them specific and relevant information on their business prospects.

Since 2002, ACIF has provided the industry with a compass to its future, as the ACIF Forecasts details the upcoming demand for work across all sectors, as well as what is happening with construction costs and labour requirements.

"Our new Dashboard continues the forecasting service we have provided to the industry for more than 12 years," said Peter Barda, Executive Director for ACIF. 

"The new Dashboard makes it easier for the industry to access our Forecasts, and to get accurate local or national data to plan effectively."

The Forecasts source data comes from high quality sources including ABS, Cordell Information and expert economic reports, before analysis by ACIL Allen Consulting. The Forecasts are scrutinised by ACIF's Construction Forecasting Council, a panel of economists and industry experts from finance, housing, commercial property and more.

The new Dashboard provides subscribers with access to data in four key areas: work forecasts; labour requirements, major projects, and the Big Picture, which looks at construction costs.

Under work forecasts, subscribers can customise a query on the upcoming demand for their business over the next ten years.

Queries can be specific to each business, forecasting work for residential or non residential building, or engineering construction, for over 20 work types and for locations across Australia. Forecasts can be generated as short term of eight quarters or a long term of ten years. The information is delivered as both data ready for further processing and as charts ready for inclusion in reports.

Also included in the ACIF Customised Forecasts Dashboard are tools to query where the major projects are, using data from Cordell Information, as well as information on what kind and quantity of workers will be needed plus what is happening with the costs of construction.

ACIF's Customised Forecasts Dashboard will be presented at DesignBUILD Expo 2-4 April at Melbourne's Exhibition and Convention Centre.

ACIF will release the Dashboard with its May 2014 data release on 26 May 2014.

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