Australia Q4 business investment dips 0.2%, misses forecasts

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February 26, 2025 7:47 PM EST

FILE PHOTO: Office buildings and construction site are seen in the Central Business District of Sydney, Australia, June 3, 2020. Picture taken June 3, 2020. REUTERS/Loren Elliott/File Photo

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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