June quarter capex beats estimates; sharp contraction expected in 2021 FY

27 August 2020

 

Summary: Private capital expenditures down but better than expected; fall larger than in March quarter; points to sharp contraction in 2021/21; mining hold up, other sectors suffer larger drops; 2020/21 capex estimates noticeably lower than comparable estimates from 2019/20.   Australia’s capital expenditure (capex) slump was thought to be coming to an end as investment in the mining sector reverted back to its long-term mean after a spike early in...

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