Australia's Building Capital Expenditure Rises 0.2% in Q4

Private new capital expenditure on buildings and structures in Australia increased by 0.2% quarter-on-quarter in the three months to December 2024, slowing from an upwardly revised 1.9% rise in the previous quarter.

By industry, capital expenditure on buildings and structures saw the biggest gains in wholesale trade (16%), electricity, gas, water & waste (8.9%), accommodation & food services (8.8%), rental, hiring & real estate (8.5%), and financial & insurance services (7.5%).

Robert Ewing, head of business statistics at the Australian Bureau of Statistics (ABS), commented, "Capital expenditure in the electricity, gas, water, and waste sectors rose 8.9%, driven by increased investment in electricity transmission and generation, along with continued spending on renewable energy projects.

However, this growth was offset by a decline in spending within the mining industry, with a 1.1% drop largely due to reduced expenditure by lithium miners.".