Here is the what today’s capex data says about the prospects for Australian manufacturing:
The red dot and line is the investment prospect for 2014/15 and it includes an uplift from a decent realisation ratio. It is at 1992 depths of the recession levels and that’s in unadjusted dollar terms. In real terms it is far lower.
I know I poke the media quite a bit for ineptitude, but the silence around this is staggering.