The ABS has released private capex expectations for the June quarter and it met market expectations:

Total capital expenditure

- Estimate 7 for total capital expenditure for 2018-19 is $122,119m. This is 2.3% higher than Estimate 7 for 2017-18.
- Estimate 7 is 0.1% lower than Estimate 6 for 2018-19.
- Estimate 3 for total capital expenditure for 2019-20 is $113,404m. This is 10.7% higher than Estimate 3 for 2018-19.
- Estimate 3 is 14.9% higher than Estimate 2 for 2019-20.

Buildings and structures

- Estimate 7 for buildings and structures for 2018-19 is $65,330m. This is 2.8% lower than Estimate 7 for 2017-18.
- Estimate 7 is 3.7% lower than Estimate 6 for 2018-19.
- Estimate 3 for buildings and structures for 2019-20 is $66,922m. This is 12.3% higher than Estimate 3 for 2018-19.
- Estimate 3 is 12.9% higher than Estimate 2 for 2019-20.

Equipment, plant and machinery

- Estimate 7 for equipment, plant and machinery for 2018-19 is $56,790m. This is 8.8% higher than Estimate 7 for 2017-18.
- Estimate 7 is 4.5% higher than Estimate 6 for 2018-19.
- Estimate 3 for equipment, plant and machinery for 2019-20 is $46,482m. This is 8.4% higher than Estimate 3 for 2018-19.
- Estimate 3 is 17.9% higher than Estimate 2 for 2019-20.

Mining

- Estimate 7 for Mining for 2018-19 is $33,372m. This is 8.3% lower than Estimate 7 for 2017-18.
- Estimate 7 is 5.7% lower than Estimate 6 for 2018-19.
- Estimate 3 for Mining for 2019-20 is $38,082m. This is 20.7% higher than Estimate 3 for 2018-19.
- Estimate 3 is 17.4% higher than Estimate 2 for 2019-20.

Manufacturing

- Estimate 7 for Manufacturing for 2018-19 is $9,609m. This is 1.7% higher than Estimate 7 for 2017-18.
- Estimate 7 is 0.6% lower than Estimate 6 for 2018-19.
- Estimate 3 for Manufacturing for 2019-20 is $9,335m. This is 8.6% higher than Estimate 3 for 2018-19.
- Estimate 3 is 20.1% higher than Estimate 2 for 2019-20.

Other selected industries

- Estimate 7 for Other Selected Industries for 2018-19 is $79,115m. This is 7.6% higher than Estimate 7 for 2017-18.
- Estimate 7 is 2.5% higher than Estimate 6 for 2018-19.
- Estimate 3 for Other Selected Industries for 2019-20 is $65,987m. This is 5.8% higher than Estimate 3 for 2018-19.
- Estimate 3 is 12.8% higher than Estimate 2 for 2019-20.

Once average realisation ratios are used this projects capex growth a little above 1%. Well below the Budget outlook of 5%.

Actual capex to come.

Latest posts by Leith van Onselen (see all)

- Productivity Commission: JobKeeper stifles economic recovery - September 24, 2020
- ScoMo’s failed SME ‘corona loan’ scheme receives fake makeover - September 24, 2020
- Universities cry poor as they hose funds on trophy buildings - September 24, 2020