Private capital expenditure (capex) data from Australia for Q4 2018 is due at 0030GMT

A couple of bank previews (in summary)

Via Westpac

  • Private business spending on capex trended lower over the past year, with a Q3 outcome of -0.5%qtr, -0.6%yr. Weakness was in building & structures (-2.8%qtr, -6.9%yr), more than offsetting a lift in equipment (+2.2%qtr, 7.7%yr).
  • For Q4, we anticipate a flat result.
  • Building & structures is expected to move lower still
  • Equipment spending is forecast to rise ... Spare capacity has been reduced over recent years, hence the need to add new capacity.

And on the 5th estimate of capex spending plans for 2018/19

  • Est 4, of $114bn, was a positive one, some 4.4% above Est 4 a year earlier
  • Historically, Est 5 is a 2% upgrade on Est 4,... This update may be less upbeat, but not substantially so. Business conditions have weakened, so too global growth. However, services investment strength ... mining is benefitting from higher commodity prices

Via TD:

  • (headline) expected to lift by +0.2%/q via a fall of -1%/q in non-residential building and a +1.5%/q lift in plant and equipment (the latter feeding into Q4 GDP).
  • This issue includes the 5th estimate for 2018/19 (TD $A119.7b in raw terms, half actual/half forecast) and the 1st estimate for 2019/20 (TD $94.5b, raw and historically unreliable 'guess')