Australia’s Capex rises in Q3 ’24

Australia’s capital expenditure (capex) increased 1.1 per cent year-on-year in Q3 2024, according to figures released on Thursday by the Australian Bureau of Statistics (ABS).

The data showed that business investment in non-mining industries rose by 2.3 per cent, offset by a 1.9 per cent decline in mining capex. Both buildings and structures, as well as new equipment and machinery, saw a 1.1 per cent increase in capex.

Key drivers for the rise in non-mining investment included finance and insurance, healthcare and social assistance, and manufacturing industries, where equipment and machinery capex increased by 1.4 per cent, said ABS head of business statistics.

Attribution: The Australian Bureau of Statistics report

Subediting: M. S. Salama