Recap of the Australian capex data for Q3 - weak but not worse

Author: Eamonn Sheridan | Category: News

The business expenditure data is here from earlier:

Some summary comments from Westpac on today's release:
  • In short, the outlook for business investment is weak - although not as weak as 3 months earlier.
  •  there was a relief bounce in capex plans for the service sectors. 
  • Developments locally around the virus and the economy and restrictions have not been as dire as feared.
  • Manufacturing upgraded plans as well.
  • mining was downgraded - with projects delayed or shelved in response to lower commodity prices associated with weaker global demand

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