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Australia Capex Slips 0.2% In Q4
(RTTNews) - The total value of new capital expenditure in Australia was down a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Thursday - coming in at A$43.961 billion.
That missed forecasts for an increase of 0.6 percent following the 1.1 percent gain in the previous three months. On a yearly basis, capex was up 0.6 percent.
Capex for buildings and structures was up 0.2 percent on quarter and down 1.0 percent on year at A$23.281 billion.
Capex for equipment, plants and machinery dipped 0.8 percent on quarter but gained 2.4 percent on year at A$20.680 billion.
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Australia Manufacturing PMI Picks Up Steam In August - S&P Global
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Australia Inflation Accelerates To 1-Year High
Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.
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Australia Trims Key Interest Rate For Third Time This Year; Cuts Growth Outlook
The Reserve Bank of Australia reduced its benchmark interest rate by a quarter-point for the third time this year as underlying inflation continued to moderate, while economic growth outlook was lowered due to weaker-than-expected recovery in public demand. The board decided to trim the cash rate target by 25 basis points to 3.60 percent. The decision was unanimous.
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Australia June Trade Surplus A$5.365 Billion
Australia posted a seasonally adjusted merchandise trade surplus of A$5.365 billion in June, the Australian Bureau of Statistics said on Thursday.
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Australia Building Approvals Jump 11.9% In June
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Australia Services Sector Accelerates In July
The services sector in Australia continued to expand in July, and at a faster pace, the latest survey from S&P Global revealed on Tuesday with a services PMI score of 54.1.
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