Private Capital Expenditure for Australia on the third quarter of 2018
There are two 'headlines':
1. Private Capex: -0.5% q/q … a miss
- expected +1.0%, prior revised to -0.9% from -2.5%
and
2. The 4th estimate of capex spending plans for 2018/19, comes in at AUD 114.1bn … an improvement
- 3rd estimate was AUD 102bn
- an improvement for the 4th estimate, better 'services' investment plans (+6.7%), better manufacturing plans (+7.4%), mining sluggish (at -1%)
- this 4th estimate is up nearly 4.5% on the 4th estimate this time last year
More:
- building capex -2.8% q/q (prior was -1.3%, revised from -3.9%)
- plant and machinery capex +2.2% q/q (prior was -0.3%, revised from -0.9%)
I think the expression 'a mixed bag' might have been invented for this data release. Swings and roundabouts here. The Q3 result (down 0.5%) is a miss while the forward looking estimate is above most of the expectations I had seen. Focusing on the forward-looking parts (ie future estimates) this is a decent set of numbers.
More:
Headline capex tracking more or less sideways:
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Equipment, pant and machinery improving, a positive ahead:
Estimates, not anything like the boom years, those have long since past:
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AUD …
Doing very little on the data release.
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Background to this:
