Australia’s Capex index better-than-expected

FXstreet.com (Barcelona) – Private capital expenditure in Australia came at +3.6% vs -1.2 expected and +4.0% prior. Meanwhile, Q3 Capex – 4th estimate for 2013/14 Capex spending – stood at $167bn vs $159.2bn in 3rd estimate.

The data indicates a nice improvement, and as David Scutt, Treasury Dealer at Arab Bank in Australia, notes in Twitter: “Net/net the increase in expected 2013/14 CAPEX spend for 2013/14 will offset weakness in the equipment,plant & machinery figure…”
For more information, read our latest forex news. …read more