Australian mining investment bottoms

Tuesday 30 October 2018

On Friday, the ABS has released the annual national accounts to June 2018, which reported that overall capital expenditure (“Gross fixed capital formation”) increased 4.4% in 2017-18, and rose to 24.2% of GDP from 23.9% the year prior:

However, mining investment continued to fall to 3.0% of GDP from 3.2% the year prior and a peak of 8.9% in 2012-13:

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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.