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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Q4 capital expenditure rose a stronger-than-expected 0.8% q/q but Q3 was revised down 0.3pp to 0.3% q/q. The annual rate is off its recent double-digit growth rates but is still strong at 7.9% y/y. The increase was in both the mining and non-mining sectors at 1.1% q/q and 0.6% q/q respectively. Investment overall should remain solid going forward given robust intentions. Q4 GDP prints on March 6.
- Buildings & structures capex volumes were solid rising 1.5% q/q to be up 9.3% y/y, while machinery & equipment fell 0.1% q/q, due to the non-mining sector, but still grew 6.4% over the last year.
- The government’s renewable energy plan has boosted investment sharply with the utilities’ sector seeing 14.7% q/q growth in Q4 overall and +17.5% in buildings & structure.
- Investment intentions for FY24 were revised up 4% while the first estimate for FY25 was 12.6% y/y higher, supported by the ongoing shift to renewables and strong IT/telecomms capex plans.
Australia real capex y/y%
Source: MNI - Market News/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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