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The March quarter national accounts, released on Wednesday, showed that investment in data centres is booming and driving economic activity.
Data centre investment rocketed by $6 billion in the March quarter of 2026, offsetting a small decline in other business investment.
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Treasurer “Spin” Jim Chalmers was quick to claim credit, even though the federal government had precious little to do with the investment.
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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.
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