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Subject: DATA SNAP: Australian 3Q New Capex +6.2% Vs +3.1% Consensus


Author:
25/11/2010 11:31AM
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Date Posted: 24/11/10 21:31:18

DATA SNAP: Australian 3Q New Capex +6.2% Vs +3.1% Consensus
25/11/2010 11:31AM

SYDNEY (Dow Jones)--Private new capital spending on buildings and equipment in Australia rose 6.2% to A$28.77 billion in the third quarter of 2010 from A$27.10 billion in the second quarter, the Australian Bureau of Statistics said Thursday.

Spending rose 8.6% from the third quarter of 2009.

Economists on average had expected that spending in the third quarter 2010 rose 3.1% on a quarterly basis.

A fourth estimate of expenditure shows companies expect to invest A$123.94 billion in the fiscal year ending June 30, 2011, a rise of 19.5% from the fourth estimate for 2009-10.

The bureau surveys companies each quarter on their actual business investment and investment plans. It makes seven estimates of spending plans for each fiscal year, beginning six months before the year begins.

The bureau also said that the trend estimate of capital expenditure rose 1.5% to A$28.06 billion in the third quarter from the second.


-By Sydney bureau; 61-2-8272-4680; djnews.sydney@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=mVKII5ha6f8pwiN47B43tw%3D%3D. You can use this link on the day this article is published and the following day.



(END) Dow Jones Newswires

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