The latest ABS data on new private business capital expenditure highlights a further fall, with the trend volume estimate falling by 2.8% in the March quarter 2016 while the seasonally adjusted estimate fell by 5.2%. Within that, the estimate for buildings and structures fell by 3.6% in the March quarter 2016 while the seasonally adjusted estimate fell by 7.9% while the trend volume estimate for equipment, plant and machinery fell by 1.0% in the March quarter 2016 while the seasonally adjusted estimate fell by 0.5%.
The proportion of mining related expenditure continues to fall, relative to other sectors.
However. non-mining sectors also took a dive. Further evidence of a lack of business confidence and a reluctance to invest. Not good for prospective economic growth.
