Aussie CAPEX smashes estimates but well below prior

Australia’s second-quarter CAPEX survey has been launched and beats expectations through a mile.

Australia Q2 New Capital Expenditure +4.4 pct QoQ s/adj (Reuters ballot +2.5 pct).
Australia Q2 Building CAPEX +4.6 pct QoQ, s/adj.
Australia Q2 Plant/Machinery CAPEX +4.3 pct QoQ s/adj.
The focal point beforehand of Gross Domestic Product, however, is the gear funding sub-component, which too was once a robust number.

Nevertheless, the Aussie is no longer impressed and stays subdued, down 0.14% at the time of writing.

About CAPEX
The Private Capital Expenditure launched via the Australian Bureau of Statistics measures cutting-edge and future capital expenditure intentions of the non-public sector. It is viewed as an indicator for inflationary pressures. A excessive studying is viewed as nice (or bullish) for the AUD, whilst a low analyzing is considered as terrible (or bearish).

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