Australian capex data for Q4, headline +3.0% q/q (expected +1.0%, prior -3%)


Private capital expenditure for the December quarter of 2020, well ahead of expectations. 

  • Equipment, plant and machinery +5.7% q/q
  • Builidng/structures +0.7% q/q 

The headline is a beat, and those two components are also ahead of what was expected. Capex has not yet recovered to its pre-pandemic level and is nowhere even close to its peak level back in the mining infrastructure boom days (peak set in 2012).

“Estimate 5” for 2020/21 is AUD 121.4bn

“Estimate 1” for 2021/2022 is AUD 105.5bn 

Private capital expenditure for the December quarter of 2020, well ahead of expectations. 

AUD is little changed on the data release, the focus is on global reflation and not so much local data.

 



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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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