PREVIEW: Q1 Private New Capital......>

AUSTRALIA DATA: PREVIEW: Q1 Private New Capital Expenditure (May 28 0130GMT)

- The seasonally adjusted result for Q4 2019 was a -2.8% decline from Q3, down

to AUD28.4 billion. On a yearly basis, this was a fall of -5.8%. Q1 is seen

little changed, with estimates at -2.6%, although the full impact of the

Covid-19 disruptions are not likely to emerge until Q2. Some reconstruction

plans after the bushfire crisis may boost the figure.

- Estimates are also expected to be lower. The last estimate for 2019-20 was

AUD120 billion, up 2.1% on the previous estimate.

- The last estimate for 2020-21 was AUD110 billion, up 8.8% on the previous

estimate. This was made before the pandemic disruptions.

- Mining investment, which rose through 2019, could continue in positive

territory after showing signs of new momentum through 2019.