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Private capex recovers from COVID slump

New private capital expenditure rose by 1.1 per cent in the December quarter and by 9.8 per cent in 2021, according to figures released by the Australian Bureau of Statistics yesterday.

With A$33.3 billion invested over the quarter, private capex has recovered to pre-pandemic levels.

Investment in buildings and structures rose 2.2 per cent during the quarter, while investment in equipment, plant and machinery was down 0.1 per cent.

The industry with the strongest capex growth in the quarter was education and training, up 18.6 per cent, followed by accommodation and food services (up 17.5 per cent), administrative and support services (up 14.4 per cent) and information media and telecommunications (up 8.4 per cent).

New private capital expenditure in the wholesale trade, transport and warehousing, and professional services sectors fell.

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