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Australian Capex Q2 exceeds expectations

FXStreet (Bali) - Private capital xependiture (Q2) in Australian came at +1.1% vs -0.3% exp and -2.5% last, revised from -4.2%. The 2014/15 3rd estimate stood at $145.2b, up from $137.1b last, with equipment, plant & machinery coming at -0.9%.

JUNE KEY POINTS

ACTUAL EXPENDITURE (VOLUME TERMS): The trend volume estimate for total new capital expenditure decreased by 1.7% in the June quarter 2014 while the seasonally adjusted estimate increased by 1.1%. The trend volume estimate for buildings and structures decreased by 1.9% in the June quarter 2014 while the seasonally adjusted estimate increased by 2.0%. The trend volume estimate for equipment, plant and machinery decreased by 1.1% in the June quarter 2014 while the seasonally adjusted estimate decreased by 0.9%.

EXPECTED EXPENDITURE (CURRENT PRICE TERMS): This issue includes the seventh estimate (Estimate 7) for 2013-14 and the third estimate (Estimate 3) for 2014-15. Estimate 7 for 2013-14 is $157,869m. This is 1.7% lower than Estimate 7 for 2012-13. Estimate 7 is 3.2% lower than Estimate 6 for 2013-14. Estimate 3 for 2014-15 is $145,158m. This is 10.2% lower than Estimate 3 for 2013-14. See pages 7 to 10 for further commentary on expectations data.

Australia Private Capital Expenditure above expectations (-0.3%) in 2Q: Actual (1.1%)

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