Analysts at TD Securities are forecasting Australia’s Q2 CAPEX to come in softer, down 0.5% q/q, led by decreases in building and structures.

• “Plant and Equipment which directly feeds into GDP is also expected to be softer, -0.5% q/q. Accompanying this data, we get final CAPEX for 2018/19, which we forecast to be A$124b, nearly 4% up on 2017/18.
• The 3rd estimate for 2019/20 raw CAPEX is expected to be A$117b, +18% on the 2ndestimate on gains in mining, manufacturing and services CAPEX.”