Australia Markets closed

Business investment disappoints again

Business investment slumped by a worse-than-expected 0.2 per cent during the Sept quarter

Business investment slumped by a worse-than-expected 0.2 per cent during the September quarter to $29.41 billion, weighed down by a drop in private spending on equipment, plant and machinery

Seasonally adjusted data released Thursday by the Australian Bureau of Statistics defied consensus expectations of a flat quarterly result, signalling that private capital expenditure will drag on next week's GDP data.

At 1135 AEDT, the Australian dollar had fallen to 67.66 US cents from 67.72 immediately before the release.