SCOREBOARD: Capex sting

Today's capex data highlights strong downside risks to GDP and could see markets again pricing in aggressive rate cuts.

Beyond that, businesses are telling us that investment will continue to surge this year and next – by a cumulative 70 per cent. Most of it is expected to be in the mining space which, according to this survey, is forecast to rise 78 per cent this year and 62 per cent next. Massive. Investment in manufacturing is expected to rise 8 per cent this year but then fall 9 per cent in 2012-13. Meanwhile, in ‘other’ sectors (construction, wholesale, retail services), investment is expected to be flat this year and then rise 4 per cent next.

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