Australia Capital Spending Rises 0.6% In Q3

(RTTNews) - Total new capital expenditure in Australia was up a seasonally adjusted 0.6 percent on quarter in the third quarter of 2023, the Australian Bureau of Statistics said on Thursday - coming in at A$39.907 billion.

That missed expectations for an increase of 1.0 percent following the 2.8 percent expansion in the previous three months.

On a yearly basis, capex rose 10.7 percent.

Capex for buildings and structures added 0.7 percent on quarter and 13.7 percent on year at A$21.514 billion.

Capex for equipment, plant and machinery gained 0.5 percent on quarter and 7.4 percent on year at A$18.393 billion.