Private Capital Expenditure up by 0.8%

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Thursday, Feb 25 2016

The trend volume estimate for total new capital expenditure fell 4.0% in the December quarter 2015 while the seasonally adjusted estimate rose 0.8%. Analysts were expecting 3.1% decrease. However in general, as markets price today on forward expectations, the first estimate of 2016/17 capex was just AUD82.6b which is down around $40b form this current year and at the low end of estimates ad the first estimate for non-mining capex for the same period is at 48b which is also weak.

The trend volume estimate for buildings and structures fell 3.5% in the December quarter 2015 while the seasonally adjusted estimate rose 1.2%. The trend volume estimate for equipment, plant and machinery fell 4.2% in the December quarter 2015 while the seasonally adjusted estimate rose 0.1%

Aussie is currently being traded around 0.7180 area. Pair is likely to find support around 0.7130 handle and resistance above 0.7250 level. Later today, in the US session, Unemployment Claims and Durable Goods Orders figures are scheduled for a release.

More in this category: « New Home Sales declined 9.2% M3 increased to 5.0% in January »

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