Aussie capex down 0.6% in Q3

Thursday 1 December 2022

The Australian Bureau of Statistics (ABS) has released capital expenditure data for the September quarter, which fell a seasonally adjusted 0.6% over the quarter to be 1.7% higher year-on-year. The quarterly decline was driven by a 1.6% fall in Equipment, Pland & Machinery:

The next chart plots the time series:

The result badly missed analysts expectations of a 1.5% rise.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.