Australian Markets Weekly – Investment outlook poor, still relying on exports

Poor capital expenditure data last week highlighted the business investment challenge that lies ahead for Australia. Some growth is expected in the non-mining sectors in 2014-15, but not enough to fill the hole left by softer mining investment. Australian Q4 GDP is released on Wednesday and after Capex, we now expect to see a 0.7% increase, for 2.5%yoy, down from our 0.9% forecast before Capex