The Australian Bureau of Statistics released its private capital expenditure data on Thursday. Private capital expenditure in Australia increased 0.8% in the fourth quarter, beating forecasts of a 3.0% drop, after a 8.4% decline in third quarter. The third quarter's figure was revised up a 9.2% fall.
Capex for buildings and structures rose 1.2% in the fourth quarter, while capital spending for equipment, plants and machinery was up 0.1%.
On a yearly basis, private capital expenditure in Australia declined 16.4% in the fourth quarter.