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The Australian Bureau of Statistics (ABS) today released its Mineral & Petroleum Exploration data for the September quarter, which revealed a rebound in mineral exploration expenditure but an ongoing slump in petroleum exploration expenditure.
Nationally, expenditure on minerals exploration rose by a seasonally-adjusted $38 million (11.5%) over the September quarter, putting a halt to the extended run of falls (see next chart).
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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