Australia Q2 business investment falls 3.6% as data centre rush fades
Tweet
Share
E-mail
People cross the street in Sydney’s Central Business District, Australia, February 4, 2026. REUTERS/Nikki Short
SYDNEY, Aug 27 (Reuters) - Australian business investment fell in the June quarter as a record rush into data centre construction slowed for now, figures showed on Thursday, while companies upgraded spending plans for coming months.
The Australian Bureau of Statistics reported private capital spending fell 3.6% in the second quarter to an inflation-adjusted A$50.95 billion ($36.58 billion), well under market forecasts of a 0.5% rise.
That was due to a 53% drop in spending on information media and telecommunications equipment after record investments in server racks and processing equipment for data centres last quarter, said ABS.
Spending on plant and machinery skidded 8.9%, while spending on buildings and structures rose 2.1%. An ABS survey of firms showed they planned to spend A$200.7 billion in the year to June 2027, 15.5% higher than the previous estimate.
($1 = 1.3928 Australian dollars)
(Reporting by Stella Qiu; Editing by Muralikumar Anantharaman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Trump says he'll consider whether to release more 9/11 records
- Ukraine's Zelenskiy imposes sanctions on former press secretary
- Kosovo parliament re-elects Albin Kurti as prime minister, political crisis persists
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
