RTTNews - Total new private capital expenditure in Australia, in volume terms, declined a seasonally adjusted 8.9% sequentially in the first quarter, the Australian Bureau of Statistics said Thursday. Economists expected a drop of 6%. In the fourth quarter, the capital expenditure was up 6%.
During the first quarter, the plant and machinery volume slipped 10.8% on an adjusted basis, while it fell 4.7% for building and structures.
Year-on-year, the total new capital expenditure rose 6.8% in the first quarter, with the volume for building and structures rising 21.2%. However, the volume for plant and machinery declined 4.9%.
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