The ABS has released private capex intentions for the March quarter and the outlook remains luke warm at best:
Estimate 6 for total capital expenditure in 2016-17 is $112,629m. This is 11.4% lower than Estimate 6 for 2015-16. The main contributor to this decrease is Mining (-29.6%). Estimate 6 is 0.8% higher than Estimate 5 for 2016-17. The main contributor to this increase is Other Selected Industries (2.6%).
Estimate 2 for total capital expenditure for 2017-18 is $85,436m. This is 6.4% lower than Estimate 2 for 2016-17. The main contributor to the decrease is Mining (-21.7%). Estimate 2 is 5.2% higher than Estimate 1 for 2017-18. The main contributor to the increase was Other Selected Industries (6.5%).