Flash: What happened to Australia’s investment peak? – Nomura

FXstreet.com (Barcelona) – The Australian capex increased by a better-than-expected 3.6% q-o-q in Q3 2013 from a downwardly revised increase of 1.6% q-o-q in Q2 (from 4.0% q-o-q), with Charles St-Arnaud, Economist at Nomura, noting that “the increase in mining industry capex is surprising given the RBA has been saying the peak in investment has already occurred.”

Key Quotes

“Overall, the report was better than expected and, with mining investment increasing on the quarter; it signals that the peak in mining investment may be delayed. However, capex expectations continue to show that investment by the mining sector should be weaker …read more