Capital expenditure has dropped 2.8 per cent in the December quarter, far worse than economists expected and creating a drag on the final quarter of GDP.
Economists had forecast a rise of 0.5 per cent during the quarter. The most pessimistic forecast was for a decline of 1.5 per cent.
Loading...
Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
