The Australian Bureau of Statistics has released its all important private capital expenditure outlook for the June QTR and the result is a decent firming from shocking levels but absolutely nothing to get excited about:
Estimate 7 for total capital expenditure in 2014-15 is $150,579m. This is 4.7% lower than Estimate 7 for 2013-14. The main contributor to this decrease is Mining (-15.8%). Estimate 7 is 0.5% higher than Estimate 6 for 2014-15. The main contributor to this increase is Other Selected Industries (+4.0%).
Estimate 3 for total capital expenditure in 2015-16 is $114,814m. This is 23.4% lower than Estimate 3 for 2014-15. The main contributor to this decrease is Mining (-37.1%). Estimate 3 is 9.9% higher than Estimate 2 for 2015-16. The main contributor to this increase is Other Selected Industries (+17.2%).