Yesterday we had a big disappointment on the construction figures from Australia:

This will be a drag on Q4 2021 GDP (data for this is due on March 2 local time, 0030 GMT).

Coming up today at 0030 GMT is data for Q4 2021 Capital expenditure.

Australian Private Capital Expenditure (capex)

  • headline expected 2.6% q/q, prior -2.2%

  • also includes a breakdown for plant & machinery capex (prior -4.1% q/q)and also for building capex (prior -0.2% q/q)

  • I’ll have more to come on this separately