SYDNEY, Feb 27 (Reuters) – Australian business investment unexpectedly contracted in the December quarter, with a decline in mining and construction offsetting gains in data centres, signaling a potential slight drag on economic growth.
According to data from the Australian Bureau of Statistics released on Thursday, private capital spending fell by 0.2% in the fourth quarter compared to the previous quarter, where it had increased by a revised 1.6%. Market expectations had forecast a rise of 0.8% for the period.
Spending on buildings and structures saw a modest increase of 0.2%, while investment in plant and machinery dropped by 0.8%. The Australian Bureau of Statistics also noted that businesses have planned to allocate A$148 billion ($93.28 billion) for capital expenditure in the fiscal year ending June 2026, based on an ABS survey.
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