The Australian Bureau of Statistics released its private capital expenditure data on Thursday. Private capital expenditure in Australia dropped 9.2% in the third quarter, missing expectations for a 3.0% decline, after a 4.4% fall in the second quarter.
The second quarter's figure was revised down from a 4.0% decrease.
Capex for buildings and structures plunged 9.8% in the third quarter, while capital spending for equipment, plants and machinery fell 8.2%.
On a yearly basis, private capital expenditure in Australia declined 20.0% in the third quarter.