Private new capital expenditure in Australia increased by 6.4 per cent in the September quarter, according to the Australian Bureau of Statistics. This places investment 6.9 per cent above the same period last year. ABS head of business statistics Tom Lay noted that the rise represents the largest increase since the March quarter of 2021. The growth was largely fuelled by significant spending on data centres and air transport infrastructure across the country.
Non-mining industries experienced the most substantial gains, rising by 8.6 per cent, while investment in the mining sector saw a more modest increase of 0.9 per cent. The information media and telecommunications sector led all industries with a 40.7 per cent surge in investment, primarily driven by record investment in data centres. This surge pushed equipment and machinery spending within the sector up by 91.5 per cent.
Overall, new equipment and machinery investment rose by 11.5 per cent. Non-mining equipment investment saw a 13.0 per cent increase, while mining equipment investment rose by 4.5 per cent. Investment in transport, postal, and warehousing equipment also played a significant role, climbing 40.7 per cent due to increased spending on air transport. Spending on buildings and structures saw a more moderate increase of 2.1 per cent, supported by non-mining industries which grew by 3.6 per cent, partially offset by a 0.4 per cent decline in mining. Growth was strongest in manufacturing, accommodation and food services, and information media and telecommunications.
Across different states, South Australia recorded the largest rise at 8.2 per cent, followed by Queensland at 7.3 per cent, and Victoria at 6.7 per cent. These figures highlight a widespread increase in capital expenditure across key sectors and regions of the Australian economy.
