Australia’s project pipeline shrinks on resources slowdown

The value of Australian resource projects either committed or already under construction fell by 2.5% quarter-on-quarter in the three months to March, on the back of declining commodity prices, advisory firm Deloitte reported on Thursday. In its latest Investment Monitor, Deloitte noted that overall the value of projects in the database fell by A$21-billion during the March quarter to A$812.3-billion. This was 7.6% below the level recorded a year earlier.