Australian Private Capital Expenditure (capex) for Q1 2021: +6.3% q/q (expected +2%, prior +3%)

Capex data from Australia for January - Match 2021, headline number above with a very solid beat indeed. Up 0.8% y/y

• equipment and machinery +9.1% q/q
• buildings and structures +3.8% q/q

Capex will be a very supportive input to the GDP figure due for Q1 next week Wednesday 2 June)

Also, sixth estimate for capex in 2020/21

• up 2.2% on est5, to A$124bn

And, the second estimate for 2021/22

• 113bn aud (from 105bn)