Sort of feel a bit strange posting on this while BTC gets trashed and GBP remains under pressure due to the antics of the sleazy Boris Johnson.
But, here we go.
Australian Private new capital expenditure (capex) data is due out on Thursday 29 August at 0130GMT
The 'headlines' to watch on this are:
the Q2 spend
- expected is a bounce back to +0.4% q/q form Q1's -1.7%
the 3rd estimate for 2019/20 planned spending
- 2nd estimate was 99bn AUD
There will also be attention paid to plant, machinery and equipment spending. Gvien the poor figures for construction yesterday (Australia - Q2 Construction work done: -3.8% q/q (expected -1.0%)) the building and structures number will also be eyed.
Further weak data would not bode well for Q2 GDP due next week (exports are a bright spot) and will be a factor in RBA decisions ahead. AUD remains soft.
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Via ANZ:
- Private new capital expenditure (capex) data due out on Thursday 29 August are expected to show a modest 0.5% q/q rise in Q2.
- We could see a 0.6% q/q increase in building and structure capex if mining and public infrastructure tick up but only a 0.3% q/q rise in machinery and equipment capex.
- We expect another improvement in the outlook for both mining and non-mining capex in 2019-20, but weak business conditions and elevated global uncertainty will contained that somewhat.
