Qld defies national trend in capital spending – Qld resources sector investment hasn’t peaked yet

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.

capexAs 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:

buildingapprovals

 

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