Financial News: Australia Capex Value Climbs 1.1% In Q3

Australia Capex Value Climbs 1.1% In Q3

11/27/2024 - 19:46:00 (RTTNews)

(RTTNews) - The value of new capital expenditure in Australia was up a seasonally adjusted 1.1 percent on quarter in the third quarter of 2024, the Australian Bureau of Statistics said on Thursday - coming in at A$43.838 billion.

That beat forecasts for an increase of 0.9 percent following the 2.2 percent decline in the three months prior.

On a yearly basis, overall capex was up 1.0 percent.

Capex for buildings and structures rose 1.1 percent on quarter and fell 1.1 percent on year at A$23.023 billion. Capex for equipment, plant and machinery was up 1.1 percent on quarter and 3.4 percent on year at A$20.816 billion.

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