Consistent with yesterday’s data on construction activity (see my post from this morning), ABS data released today show private sector capital spending in Queensland has not yet fallen from a peak, as national capital spending has due to a drop in WA mining capital expenditure (see chart below). So it’s possible Queensland resources sector investment hasn’t peaked yet, although it may sometime this year.
As usual, MacroBusiness has a good summary of today’s data:
Actual capital expenditures fall sharply on mining
And Pete Faulkner makes some interesting observations at his blog:
CAPEX data shows no sign of a mining investment cliff
In other economic news today, ABS building approvals data remain uninspiring:
Queensland Economy Watch 