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The Australian Bureau of Statistics said on Thursday that real capital investment by businesses increased by 2.4 percent in Q1 compared to Q4 after adding 2.2 percent in the October-December quarter.
The largest quarterly gain in the last two years was seen in spending on new machinery and equipment, which increased by 3.7%.
Companies also increased their capital budgets, which now total A$137.6 billion for the fiscal year that ends in June 2024, a rise of 6.4% from the previous quarter.
source: nasdaq.com
The largest quarterly gain in the last two years was seen in spending on new machinery and equipment, which increased by 3.7%.
Companies also increased their capital budgets, which now total A$137.6 billion for the fiscal year that ends in June 2024, a rise of 6.4% from the previous quarter.
source: nasdaq.com