The Australian Bureau of Statistics capital expenditure figures for March were higher than some expected. You can clearly see the upwards trend.
The expectations data on future capital expenditure also continues strong.
The multiple speed nature of the Australian economy continues, with some data very soft indeed.
Postscript
In this morning's Australian (27 May), Sarah-Jane Tasker reports that the Australian Bureau of Agricultural & Resource Economics & Sciences planned investment in Australia's resources sector has hit a record $173.5 billion.
Some care must be exercised in interpreting these major project figures. I know from my own experience, my then area was responsible for similar monitoring back in the early 1980s, that the numbers can bounce around. If prices fall, projects can be deferred or re-scheduled.
