Aussie capex is a shadow of its former self

Thursday 25 November 2021

The Australian Bureau of Statistics (ABS) today released data on capital expenditures (capex) for the September quarter, which registered a 2.2% seasonally adjusted fall in capex volumes over the quarter but a 12.9% increase over the year (see below table).

The annual nation accounts were also released recently, which recorded a small increase in capex over 2020-21; albeit weak investment as a share of GDP:

Below are charts tracking capex across the major categories:

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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.