From the Australian Bureau of Statistics, Private New Capital Expenditure and Expected Expenditure
For the September 2015 quarter, in at -9.2%
- -2.9% q/q
- prior -4.0%
Dreadful headline result, much worse than expected
The fourth estimate 2015/16 investment: A$120.4bn ... on consensus median expectations
- Expected was A$120bn
- Estimate 3 was A$115bn
More details to come
- Q3 building capex -9.8% q/q (sa)
- Plant and machinery capex -8.2% q/q (sa)
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AUD/USD was marked lower immediately on the big headline miss.
That miss really was terrible. I can't help thinking, though, the drop in the AUD would have been larger had the 4th estimate for capex plans not come in pretty much bang on expectations, and above the 3rd estimate. AUD bulls ... this was a saving on this data ... not a lot to go on but it did cushion the fall.
