Aus CAPEX: Further evidence transition toward non-mining some time away - ANZ

FXStreet (Bali) - The ANZ Economics Team notes that in summary, today’s CAPEX release provides further evidence that the transition toward investment in the non-mining sectors remains quite some time away.

Key Quotes

"today’s CAPEX release provides further evidence that the transition toward investment in the non-mining sectors remains quite some time away."

"The further decline, from an already weak outlook, suggests that businesses are severely lacking in the confidence required to lift investment. The RBA will be disappointed by this soft result, which provides further confirmation that rates are likely to remain on hold for an extended period."