Australia Private Capital Expenditure Sinks 2.2% In Q3

(RTTNews) - Private capital expenditure in Australia was down a seasonally adjusted 2.2 percent on quarter in the third quarter of 2021, the Australian Bureau of Statistics said on Thursday - coming in at A$32.699 billion.

That missed expectations for a fall of 2.0 percent following the 4.4 percent increase in the previous three months.

Building capex was down 0.2 percent on quarter at A$16.922 billion after rising 4.6 percent in Q2, while plant machinery capex dropped 4.1 percent to A$15.777 billion after gaining 4.3 percent in the three months prior.

On a yearly basis, overall capital spending was up 12.9 percent, while building capex rose 9.0 percent and plant machinery capex jumped 17.4 percent.