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    The Australian Bureau of Statistics released its private capital expenditure data on Thursday. Private capital expenditure in Australia dropped 4.4% in the first quarter, missing expectations for a 2.4% decline, after a 1.7% fall in the fourth quarter.



    The fourth quarter's figure was revised up from a 2.2% decrease.



    Capex for buildings and structures plunged 6.5% in the first quarter, while capital spending for equipment, plants and machinery fell 0.5%.



    On a yearly basis, private capital expenditure in Australia declined 5.3%.

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