Australia does an unusually large amount of Capital Expenditure for a rich and developed country – a land of opportunity! Capex recently peaked near 29% of GDP in late 2012 and has been falling since as mining investment has slumped. Governor Stevens said again last week that there is plenty of room for the non-mining economy to grow above trend as a replacement. This week’s Q3 Capex numbers are only likely to reveal an ongoing modest recovering in non-mining Capex.
Read the full report: Market Research