The Australian Bureau of Statistics (ABS) on Friday released its annual national accounts for the year ended June 2015, which revealed that Australian mining investment is around one-third of the way through its adjustment as it retraces from all-time highs, with the worst still to come (see next chart).
As shown in the above chart, Australia’s mining capex peaked at 7.5% of GDP in June 2013, and has fallen 1.9% to 5.6% of GDP as at June 2015.
