ANZ is not upbeat on Australian capex outlook - bleak outside mining sector
new capital expenditure in the fourth quarter of 2019, data is here:
- The outlook for Australian private new capex is bleak outside the mining sector.
- Non-mining firms plan to reduce capex by 2% in 2019-20 and by 1% in 2020-21
- but with effects of COVID-19 on supply chains emerging, there are significant downside risks
AUD is managing to add a few points on the session: