Economic Buzz: Private CAPEX In Australia Surges Around 13% On Year

Economic Buzz: Private CAPEX In Australia Surges Around 13% On Year

Nov 25, 2021 11:11 IST capital market

Private capital expenditure in Australia slipped by a seasonally adjusted 2.2% on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Thursday - coming in at A$32.699 billion. This followed the 4.4% rise in the previous three months. Building capex was down 0.2 percent on quarter at A$16.922 billion after rising 4.6 percent in Q2, while plant machinery capex dropped 4.1 percent to A$15.777 billion after gaining 4.3 percent in the three months prior. On a yearly basis, overall capital spending rose nearly 13% while building capex rose 9%.

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