Australia Private New Capital Expenditure and Expected Expenditure, for the March quarter of 2017
I'll post these 2 first, then more detail ...
1. Headline: +0.3%% - a miss
- expected +0.5%
- previous was -1.0%, revised higher from -2.1%
2. The 2nd estimate for 2017/18 investment expectations $ 85.4bn - a solid result
- Compared to the first estimate of 2017/18 capex plans of 80.6bn
- there is no median consensus estimate for this
Q1 building capex at +0.7% q/q
Q1 plant an machinery -0.1% q/q
2016/17 6th estimate 112.6bn
I am scoring this 'could have been much worse' ... which for Australian capex is a pretty decent result.
Along with the beat in retail sales (for April, on a separate post) the market is scoring it a positive for the Australian dollar