Deloitte Access Economics’ quarterly Investment Monitor is out and forecasts that Australian business investment will collapse to its lowest level in around 20 years:
Deloitte Access Economics partner and report lead author, Stephen Smith, said: “COVID-19 has led to a collapse in both demand and business confidence, and many businesses are responding by consolidating their operations and making savings where they can.
“That is likely to see an increase in the number of investment projects being cancelled or delayed, while there will also be fewer new projects announced, and private business investment is forecast to fall by 15% in 2020, reaching its lowest point as a share of the economy in almost two decades.
