SYDNEY (Reuters) – Australian business investment unexpectedly dipped in the December quarter as a pullback in mining and construction outweighed strength in data centres, suggesting a slight drag on economic growth.
Data from the Australian Bureau of Statistics on Thursday showed private capital spending fell an inflation-adjusted 0.2% in the fourth quarter from the previous quarter, when it rose an upwardly revised 1.6%. Market forecast had been for an increase of 0.8% in the December quarter.
Spending on buildings and structures rose 0.2%, while spending on plant and machinery fell 0.8%. An ABS survey of firms showed they planned to spend A$148 billion ($93.28 billion) in the fiscal year to June 2026.
($1 = 1.5865 Australian dollars)
(Reporting by Wayne Cole; Editing by Muralikumar Anantharaman)
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