Australian Private Capital Expenditure for Q2 2022 drops -0.3% q/q in Q2
- expected +1.5, prior -0.3%
Plant/Machinery Capex +2.1% q/q
- prior +1.2%
Building Capex -2.5% q/q
- prior -1.7%
A mixed bag. Plant/machinery lifting is a positive. As is that estimate '3' for 22/23 (see pic below):
For the AUD, its being pushed around much more by global developments (Powell 'forceful' the most recent example) than local data.
