Australian data: Q3 Capex headline rose 1.1% vs. +0.9% expected & -2.2% prior

A small beat for the headline.

• Total new capital expenditure rose by 1.1%
• Buildings and structures rose by 1.1%
• Equipment, plant and machinery rose by 1.1%
• Estimate 4 for 2024-25 is $178.2b. This is 5.1% higher than Estimate 3 for 2024-25

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Background to this.

The Australian Bureau of Statistics (ABS) publishes data on private new capital expenditure (capex). This quarterly report provides insights into the actual capital expenditures by businesses on buildings, structures, equipment, plant, and machinery, as well as their future investment intentions. Today we’ll get the Q3 2024 data. The previous 2024 quarter summaries:

June 2024 Quarter Highlights:

• Total New Capital Expenditure: Decreased by 2.2% to $39,834 million.
• Buildings and Structures: Fell by 3.8% to $20,866 million.
• Equipment, Plant, and Machinery: Slight decline of 0.5% to $18,967 million.
• Estimate 3 for 2024-25: Projected at $170.7 billion, marking a 10.3% increase from Estimate 2.

March 2024 Quarter Highlights:

• Total New Capital Expenditure: Rose by 1.0% to $40,487 million.
• Buildings and Structures: Decreased by 0.9% to $21,449 million.
• Equipment, Plant, and Machinery: Increased by 3.3% to $19,038 million.
• Estimate 2 for 2024-25: Estimated at $155.4 billion, a 6.8% rise from Estimate

This article was written by Eamonn Sheridan at www.forexlive.com.