Fed: Business investment continues to grow - ABS

AAP General News (Australia)
08-31-2006
Fed: Business investment continues to grow - ABS

CANBERRA, Aug 31 AAP - Business investment continued to grow in the June quarter, new
figures showed.

The Australian Bureau of Statistics (ABS) said capital expenditure rose 1.1 per cent
to $18.6 billion, boosted by a seven per cent surge in spending on buildings and structures.

Capital spending was up 18.4 per cent for the year, driven by the mining industry.

Spending on equipment, plant and machinery fell 0.6 per cent to $11.2 billion with
the mining sector again the biggest influence.

Businesses also ramped up their expectations for spending this financial year.

The estimate of $72.1 billion capital expenditure for 2005-06, is 25 per cent more
than the comparable estimate a year ago.

"The increase since 2004-05 is mainly driven by mining which has increased by 76.2
per cent," the ABS said.

AAP so/sb/cjh/sd

KEYWORD: INVESTMENT

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