Expected capex decelerates sharply

David Llewellyn-Smith

Thursday, 1 June 2023

The ABS is out with capex intentions for 2023/24 and the news is a sharp deceleration in plans.

The first estimate for the next financial year was a 14% rise. That has pulled back sharply to just 6.4%:

When we apply an average realisation ratio, we are probably now sitting around zero growth if not a small fall.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.