'Private New Capital Expenditure and Expected Expenditure for Q1 of 2016

Down 5.2%

  • expected -3.5%, prior +1.8%, revised higher from +0.8%
  • Building capex down 7.9% (expected down 3%) (the prior was revised to +1.9% from -3.0%)
  • Plant/machinery down 0.5% (-2% expected) (prior was revised to +1.8% from -2.0%)
  • Estimate 6 for 2015/16 in at $A126.8bn (the previous estimate, which was 'Estimate 5 for 15/16, published in the Q4 2015 data was $124bn, -17.8% y/y)
  • Estimate 2 for 2016/17 in at $A89.2bn (the previous estimate for this was 'Estimate 1' for 16/17, at $82.6bn, -19.5% y/y)

A mixed bag here, a poor headline and building capex a miss also, but beats on the estimates going forward
.

AUD had a small dip under 0.7165 but the data not bad enough to send it any lower and its more or less unchanged now as I update (around 0.7190).

I expect the AUD may well remained offered though.

Let me add in some URGLY charts .... from the Australia Bureau of Statistics:

Had enough bad news? No? Keep going then ... this all via the ABS

more to come