Australia: Capital expenditure is forecast to have fallen in Q3 - ANZ

Analysts at ANZ are out with their preview of the third quarter Australian private capital expenditure due next Thursday at 0030 GMT.

Key Quotes:

“The bank is expected -1.9% q/q.

Estimate 4 is expected at 106 bn AUD.

Capital expenditure is forecast to have fallen in Q3, led by declines in the engineering sector, as mining projects in Western Australia get closer to completion.

The key input to GDP, plant, and machinery spending, is expected to have increased in line with strong capital imports in the quarter.

Further, we anticipate a solid upward revision to firms' spending plans for 2017-18, given strength in business conditions.”