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In view of analysts at TD Securities, Australia’s Q3 private capital expenditure (capex) is expected to only post a modest lift of +0.5%/q via flat non-residential building and a small lift in plant and equipment (mkt +1%/q).

Key Quotes

“The fourth estimate for current 2018-19 spending is expected to lift from $A102bn to $A110bn in original terms, with a pickup in non-mining investment commensurate with optimistic business surveys (mkt $A108.5bn).”