Happy Thanksgiving to all!

Who would’ve thought?

Australia Q3 Private Investment Falls More than Estimated

Private capital expenditure in Australia dropped by 0.2 percent quarter-on-quarter in the three months to September 2019, following a revised 0.6 percent fall in the previous period and compared with market expectations of a 0.1 percent drop. This was the third straight quarter of decline in private investment, mainly due to a decrease in capital expenditure for equipment, plant and machinery (-3.5 percent vs 2 percent in Q2). On the other hand, spending for building and structure rebounded (2.7 percent vs -3 percent). Through the year to the third quarter, private capital expenditure shrank 1.3 percent.