³Ô¹ÏÍøÕ¾

New Capital Expenditure Falls 2.2%: Australia

Private new capital expenditure (capex) fell 2.2 per cent in the June quarter 2024, 0.3 per cent higher than June quarter 2023 (seasonally adjusted, chain volume measures), according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said: “Business investment fell 3.6 per cent in the non-mining industries. This was partly offset by a rise in mining capex, which was up 1.5 per cent after falling in the last quarter.”

Total Mining and Non-mining, Seasonally Adjusted, Chain Volume Measure

Mining – Seasonal ($m) Non Mining – Seasonal ($m) Mining – Trend ($m) Non Mining – Trend ($m)
Jun-043,50014,8663,66214,769
Sep-043,91714,9673,67515,449
Dec-043,70416,8543,75416,145
Mar-053,92916,4164,02016,720
Jun-054,55417,2344,62217,421
Sep-055,72318,2115,62218,250
Dec-056,59019,6846,82918,941
Mar-067,93518,9137,70519,191
Jun-068,36018,9447,94719,047
Sep-067,30719,3037,79418,806
Dec-067,78618,2117,82718,893
Mar-078,29220,6488,26920,484
Jun-079,00221,4088,74020,892
Sep-078,85620,7968,97221,293
Dec-079,22021,8289,31521,497
Mar-089,88821,8999,94421,801
Jun-0810,97121,84210,86522,248
Sep-0811,57723,02611,81322,806
Dec-0812,54723,46912,29323,006
Mar-0912,33022,32011,96122,776
Jun-0910,79523,55511,11622,531
Sep-0910,26421,82810,45722,713
Dec-0910,55623,75510,44922,943
Mar-1011,09022,95411,09022,659
Jun-1011,70121,84911,89722,147
Sep-1013,19521,64512,59122,124
Dec-1013,05223,13813,25222,977
Mar-1114,42624,33714,82523,881
Jun-1117,04824,01917,42524,255
Sep-1121,83724,69420,62324,284
Dec-1122,78324,16123,95224,144
Mar-1227,05724,08926,90123,766
Jun-1229,87522,70928,99123,065
Sep-1229,23022,48529,69322,293
Dec-1229,38421,61329,08621,664
Mar-1328,05621,29628,62121,400
Jun-1328,43321,24628,54121,314
Sep-1328,92021,76928,20821,392
Dec-1327,19221,11627,47321,441
Mar-1425,08721,95126,42321,784
Jun-1425,78522,17025,43522,691
Sep-1424,40124,02724,47023,597
Dec-1423,05424,31523,20423,880
Mar-1521,78422,99221,44323,542
Jun-1519,66723,31119,65623,079
Sep-1517,21422,21818,04322,468
Dec-1517,40022,90316,43422,886
Mar-1614,56023,40014,62323,206
Jun-1612,36623,36412,80623,278
Sep-1611,55523,02511,54923,195
Dec-1611,26323,24811,11023,322
Mar-1710,87223,87710,91223,761
Jun-1710,72324,28910,73124,380
Sep-1710,63925,02110,57924,999
Dec-1710,35125,56810,42225,461
Mar-1810,24325,84710,17325,819
Jun-189,85925,9159,83526,201
Sep-189,40226,8029,43926,643
Dec-189,13327,3649,09827,294
Mar-198,89227,1389,01327,077
Jun-199,10326,4059,10626,497
Sep-199,44725,7919,25725,912
Dec-199,18325,1919,38325,063
Mar-209,52224,2829,43923,878
Jun-209,47921,9869,40322,603
Sep-209,30521,6719,32022,326
Dec-209,14522,9579,28623,136
Mar-219,52024,5049,41524,358
Jun-219,66825,4089,67125,141
Sep-219,90925,2379,99725,381
Dec-2110,39325,24810,37125,225
Mar-2210,64425,16310,59825,111
Jun-2210,74225,08810,52225,307
Sep-2210,10325,90910,37125,814
Dec-2210,35926,67010,41626,703
Mar-2310,90327,43610,75127,605
Jun-2311,06128,66711,22428,097
Sep-2311,63028,05411,49128,417
Dec-2311,65028,31111,50528,632
Mar-2411,18429,55611,40228,834
Jun-2411,34928,48511,25228,988

Capex was down 3.8 per cent for buildings and structures, with the non-mining industries falling 7.7 per cent. New equipment and machinery fell 0.5 per cent.

“The drop in buildings and structures was caused by lower spending on major engineering projects and transport infrastructure projects and was partly offset by a rise in mining industry spending on buildings and structures, which was up 2.8 per cent after falling last quarter,” Mr Ewing said.

“Retail trade investment drove the fall in equipment and machinery capex, down 25.9 per cent. Both small and large retail businesses contributed to this fall, with some businesses telling us capex was down in response to economic conditions in the retail industry,” Mr Ewing said.

Victoria had the largest fall of the states and territories, down 4.1 percent. Northern Territory saw a rise of 23.5 per cent, reflecting higher mining capex.

Figures released today also include the final estimate of capex for 2023-24, which saw a rise of 10.2 per cent (current prices) compared to 2022-23.

This release also includes the third estimate for planned capex for 2024-25. Businesses revised their expected capex spend for 2024-25 to be up by 10.3 per cent since their last estimate.

“The manufacturing industry are expecting a major rise next year, with several large industrial projects ramping up investment,” Mr Ewing said.

/ABS Public Release. View in full .