Business capital expenditure in Q1 2019 and estimates ahead, due at 0130 GMT
Earlier previews are here:
For the 'headline' capex spend in Q1
- expected +0.5% q/q
- prior +2.0%
In brief what to expect via Westpac:
- we anticipate only a small rise
- equipment spending up (2018 uptrend in for this was was broadly based across services, manufacturing and mining - with consumer spending slowing, the risk is for a stumble in coming quarters.)
- building & structures spending down (lower mining investment as work on remaining gas projects finalised)
The data will also include the 6th estimate of capex spending plans for 2018/19
Westpac again, on estimate 6, say that the update may be less upbeat (than the 5th)
- but not substantially so
- Business conditions have weakened, so too global growth
- However, services investment strength is in transport (spillovers from public infrastructure) and power generation (renewable energy) - and these are largely locked-in. Also, mining is benefitting from higher commodity prices
