Capex outlook overheats amid economic burnout

This will not please the RBA.

Despite endless per capita recession, the Australian private capex outlook is overheating:

• Estimate 4 for 2023-24 is $171.2b
• This is 8.5% higher than Estimate 3 for 2023-24

The fourth estimate tends to be predictive of the realisation ratios, so the outlook is strong.

Where’s it coming from? Everywhere:

Remember, this is only private capex. Public investment is even more manic.

Yet the capital available to the supply side of the economy is still shallowing despite the overheating investment because quantitative peopling is so far out of control.

This is total economic mismanagement as the capex engine roars with the handbrake hard on, and all living standards do is burn rubber on the spot, covering everybody with toxic smoke.