These measures include reforms to protect the integrity of Australia’s medicine supply chain and enhance the government’s ability to respond to any future pandemics. Although economic activity has resumed in most sectors across the economy, some restrictions remain. Find industry analysis, statistics, trends, data and forecasts on Women's and Girls' Wear Manufacturing in Australia from IBISWorld. The ongoing lockdown of Victoria in the wake of a second COVID-19 outbreak has continued to hinder the economy, particularly as interstate borders have remained closed to recreational travel. The Road and Bridge Construction industry is projected to remain an important driver of the Australian economy during 2020-21. Cheese manufacturers also derive a significant share of revenue from export markets. Real household discretionary income is expected to decline by 7.8% in 2020-21, to $499.8 billion. At the height of the COVID-19 outbreak, government-enforced restrictions on auctions and inspections weighed heavily on the number of housing transfers, with buyers and sellers withdrawing from the market. Revenue for the Cheese Manufacturing industry is expected to decline by 12.5% in 2020-21, to $2.9 billion. UNITED STATES HQ. IBISWorld’s information database provides a wealth of information on the UK economy. Under the menu ‘Company Research’, click on ‘Australia Company Reports’ to browse companies by industry. Government stimulus spending on shovel-ready infrastructure projects, which include upgrades to local and arterial roads, is also expected to support the industry. Ibis Sydney World Square: Great Hotel - See 2,168 traveler reviews, 405 candid photos, and great deals for Ibis Sydney World Square at Tripadvisor. The outbreak has prompted a sharp rise in the national unemployment rate, which is expected to reduce discretionary incomes over 2020-21. A team of expert analysts research economic, demographic and government data, saving you significant time and money. This recovery is unlikely to occur within the next three years, suggesting that a near-zero cash rate is likely to persist for an extended period. However, Victoria, one of Australia’s most populous … The Pharmacies industry is set to post modest growth of 3.1% in 2020-21, with revenue totalling an estimated $21.8 billion. In August, Victoria recorded 8,673 cases of COVID-19. As Victoria has now successfully contained COVID-19, recording 0 cases over the two days through 27 October, interstate border restrictions are expected to ease by Christmas 2020. LEARN MORE. Household incomes had previously spiked by 8.8% in 2019-20 as a result of unprecedented fiscal and monetary stimulus. Expert insight from IBISWorld Research Analysts, OD5538 Online Food Ordering and Delivery Platforms in Australia, E3101 Road and Bridge Construction in Australia, J5700 Internet Publishing and Broadcasting in Australia, E3019 Multi-Unit Apartment and Townhouse Construction in Australia, N7220 Travel Agency and Tour Arrangement Services in Australia, N7211 Employment Placement and Recruitment Services in Australia, Coronavirus Impact on Industries & Sectors Around the World, Five Industries Set to Outperform Due to COVID-19: Part 2, Top 10 Industries Expected to Expand in 2019. While the economy is expected to improve over the second half of the year, federal and state governments will likely scale back fiscal stimulus, which is expected to hinder household incomes. Industry Definition This will tell you exactly what the report is about. Real household discretionary income is projected to grow at an annualised 1.5% over the five years through 2025-26, to total $538.4 billion. Rankings are based on the most recently available financial data and include public and private firms, foreign-owned businesses, trusts and governmental departments. The Government has also introduced the HomeBuilder scheme, which provides eligible owner-occupiers, including first home buyers, with a grant of $25,000 to build or renovate a home. Industry revenue is projected to fall by 31.4% in 2020-21, to $30.9 billion. A team of expert analysts research economic, demographic and government data, saving you significant time and money. Revenue is expected to fall by 8.1% over the year, to $26.5 billion. Industry participants will also indirectly benefit from several measures contained in the Federal Government’s 2020-21 Budget, which includes a record investment into essential health services in the wake of the COVID-19 pandemic. Public gatherings remain subject to caps in most states, and these restrictions will likely remain in place until a vaccine for COVID-19 is discovered and distributed. Industry market research reports, statistics, analysis, data, trends and forecasts. A recovery in unemployment and overall economic activity is expected to support a rebound in income growth. Real GDP is projected to grow at an annualised 2.9% over the five years through 2025-26, to total $2.11 trillion. Many Australians remain highly uncertain about the economic outlook, particularly in the wake of the damaging second wave of COVID-19 in Victoria. Plans for an international travel bubble arrangement with New Zealand were also postponed. The reduction in air travel has reduced air freight availability, making it difficult for industry players to transport high-value fresh seafood, such as rock lobster, to export markets. Although uncertain, the likelihood of a vaccine being introduced either prior to or early in the financial year is promising based on current research progress. Strong monetary and fiscal stimulus is forecast to support a rebound in economic activity. As a result, requirements for services from employment placement and recruitment companies is projected to decline significantly over 2020-21. This trend is anticipated to continue over 2021-22, as both consumers and businesses are likely to maintain COVID-normal restrictions, including limitations on gatherings and movement, for the foreseeable future. As rock lobster exports to China fell by 29.0% to $502.1 million in 2019-20, improved international freight capacity is expected to substantially benefit the industry in 2020-21. Mortgage relief offered by the major banks is also expected to alleviate pressure on some households. You get instant access to reports, big discounts and dedicated support. In need Wholesale Trade of industry data? 500+ Industry Reports 250+ Specialized Reports. These measures are expected to be removed entirely by March 2021. IBISWorld is not a software system and no IT development is required to access IBISWorld research. Gain a quick and intelligent overview of thousands of global industries. Revenue for the Employment Placement and Recruitment Services industry is forecast to weaken significantly in 2020-21, dropping by 19.7% to $11.6 billion. Economic uncertainty is set to continue weighing on residential property and rent prices. Get up to speed in no time with easy-to-read charts, tables and paragraphs. Industry revenue is expected to grow by 6.1% in 2020-21, to $4.9 billion.
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