Building in space? How Australian researchers are leading the way

3D printing could be the future of construction in remote regions, including space, according to research underway at the University of NSW. Dr Kate Dunn from the School of Built Environment is investigating ways to combine materials endemic to site, including mud brick and hemp, with robotics and large-scale 3D printing.

Together with Associate Professor M. Hank Haeusler, Director of Computational Design (CoDe), and Master’s student Alex Tohidi, Dr Dunn will research the material processes and optimal design for building in remote areas, including in space, as part of a memorandum of understanding signed with Melbourne-based 3D printing firm, Luyten.

Transporting materials and machinery to site is one of the greatest obstacles to overcome for building in remote areas such as the moon.

“3D printing building components using site-specific materials is one way to circumvent this,” says Dr Dunn. “Computer scripts can direct the 3D printing of complex architectural structures made from materials, such as clay and soil, even regolith, a material found on the Moon’s surface.”

Work has already begun on the test site at Fowlers Gap Arid Zone Research Station in western NSW to look at the impacts of introducing fibres such as hemp, straw and bamboo to optimise the material for construction. Using readily available, local materials eliminates the need for delivering concrete, gravel and other heavy materials to site.

At the same time, Luyten is developing a lightweight, compact 3D printer ideal for transportation that is capable of printing large scale structures able to deal with rough terrain.

“Australia’s perfectly suited to this. It’s hugely sustainable,” Dr Dunn says. “The biggest problem with those traditional processes is that they’re super labour-intensive. But if we can use technology to speed those processes up, it becomes a much more affordable and feasible means of building things in Australia and around the world.”

Tuesday’s retail sales report could be the scrap of evidence that tips the balance as Federal Reserve officials decide how much to cut interest rates on Wednesday.

It is practically a given that the central bank will reduce rates. Inflation has fallen to its lowest point since February 2021, giving the Fed more flexibility to focus on the second component of its dual mandate—achieving maximum employment. Although the labor market remains resilient, the most recent two jobs reports have been weaker than expected, putting some pressure on the Fed to loosen monetary policy.

The question now is by how much rates will fall—0.5 percentage point, or 0.25 point? The indications from interest-rate futures are split , recently favoring the more aggressive half-percentage-point decrease.

Andrew Hollenhorst, an economist at Citi , leans toward the likelihood the Fed is more cautious on Wednesday, cutting rates by 0.25 percentage points. But he notes that it it is a close call that depends on the dynamics of the bank’s rate-setting committee and the strength or weakness of Tuesday’s retail sales report.

A positive surprise would suggest that both consumers and the labor market remain resilient, paving the way for a more modest cut. If the report comes in well below expectations, however, Fed officials may grow concerned that a weaker labor market is weighing on consumer spending, which could lead to a bigger cut, Hollenhorst added.

Louis Navellier, founder and chief investment officer of the money-management firm Navellier agrees. “In theory, if the August retail sales report is horrible, then a 0.5% Fed key interest rate cut may be forthcoming on Wednesday,” he said.

Economists are expecting retail sales will decline by 0.2% in August from July, according to FactSet. They jumped by a surprising 1% in July .

Lower gasoline prices and car sales will likely drag the headline number lower. Indeed, stripping out car and gas sales, retail sales are projected to increase by about 0.3% month over month.

Yet there is growing concern that even excluding autos and gas sales, the sales figure will be soft. While spending was remarkably strong in July, the Fed’s latest Beige Book flagged that consumer spending ticked down in August, points out Bill Adams, chief economist for Comerica Bank . Many retailers, particularly those catering to lower-income shoppers, have warned that Americans are being cautious and exceedingly choosy about what they are buying and where.

The impact of the retail sales report will likely extend beyond the immediate rate cut. The insights it contains about U.S. consumers will also factor into the Fed’s quarterly update to its Summary of Economic Projections, containing officials’ latest forecasts for the U.S. economy, inflation, and near-term interest rates.

The so-called dot plot , which charts the individual interest-rate projections of the seven members of the Fed’s board of governors and the 12 regional Fed presidents, is always closely watched as investors try to chart the Fed’s future actions.

Hollenhorst believes the median dot showing where rates will be at the end of 2024 should show “at least” 0.75 percentage-point of cuts, factoring in 0.25 point at each meeting through the end of the year. But it is likely that officials will leave the door open for more cuts in case data on the job market or consumer spending sour faster than expected.