The December quarter capital expenditure data published by the ABS today have beaten expectations (e.g. see Business investment rebounds in otherwise cooling economy), which means the GDP figures which will be released next week will very likely be better than expected. In Queensland, mining capital investment has been growing strongly, with $9.55 billion of private capital expenditure in the industry in 2018 compared with $8.46 billion in 2017. Nonetheless, I’m still concerned about the economic outlook given recent data we’ve seen on building approvals and business sentiment (e.g. see Qld: Hot or not?).
If you’re interested in learning how to create facet plots like the one in this post, please consider enrolling in my one-day intensive workshop on 12 April in Brisbane: