Australia business investment jumps 6.5% in Q1 on data rush
Tweet
Share
E-mail
People cross the street in Sydney’s Central Business District, Australia, February 4, 2026. REUTERS/Nikki Short
SYDNEY, May 28 (Reuters) - Australian business investment boomed in the March quarter as firms ploughed yet more money into data centers, figures showed on Thursday, while companies also upgraded spending plans for coming months.
The Australian Bureau of Statistics reported private capital spending climbed 6.5% in the first quarter to an inflation-adjusted A$52.57 billion ($37.46 billion), dwarfing market forecasts of a 1.0% rise.
Spending on plant and machinery jumped 18.1% as firms invested in processing equipment for data centers, while spending on buildings and structures fell 3.8%. An ABS survey of firms showed they planned to spend A$173.4 billion in the year to June 2027, up from an initial A$158.4 billion.
($1 = 1.4035 Australian dollars)
(Reporting by Wayne Cole; Editing by Muralikumar Anantharaman)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Obama voices caution on AI, urges Democrats to tackle it, NYT says
- Australia vows to bolster resilience of telco networks after Optus outage
- Republican senator's TV interview passes muster with FCC's Carr even though Democratic candidate's does not
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!
