A nice surprise for investment outlook.The ABS quarterly Capex survey is one of the few forward looking data sets published by the ABS. It gives important information on how much investment various sectors of the economy have planned for the year ahead. The latest survey shows signs the transition is working and confidence is returning to the businesses and their financial controllers. In FY14 $166.8 billion will be ploughed into the economy, which is more than the record amount invested last year. The retail sector alone plans to increase investment by 26% to over $5billion. There are even signs that the worst hit industries may be turning a corner with the outlook for manufacturing improving albeit off a low base. Perhaps the most surprising result is the outlook for the much-maligned mining sector. The capex investment outlook for the industry have now been upgraded for the fourth consecutive survey. (VIEW LINK)
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