Q3 CAPEX tops expectations: Australian Q3 capital expenditure figure have just been released with the data coming in stronger-than-expected

David Scutt

Scutt Partners

Q3 CAPEX tops expectations: Australian Q3 capital expenditure figure have just been released with the data coming in stronger-than-expected. Total spend rose by 0.2% to $38.254b while equipment, plant and machinery, a direct GDP input, jumped by 4.4% to $12.872b. As hinted at yesterday in the construction report the only segment to drag was building and structures which declined 1.9% to $25.382b. Adding to the reasonable quarterly print the 4th estimate for 2014/15 spend was revised up to $153.2b from $145.2b in Q2. In what is a good sign for economic rebalancing, albeit only an estimate, expected spend for manufacturing and 'other' industries in the current fiscal year increased by 4.2% and 4.6% receptively from what was seen in the 3rd estimate. Mining, somewhat surprisingly, also logged an increase of 0.4%. (VIEW LINK)


David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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