A recovery in business investment is tipped to slow markedly in federal budget forecasts, as a cooling economy forces firms to reassess capital expenditure plans.
The government’s numbers show real business investment growth is forecast to be 5.5 per cent in the current 2023-24 fiscal year, but slow to 1 per cent in 2024-25 and 2 per cent in 2025-26.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
