Business is unlikely to increase their investment spending this financial year after a disappointing June quarter for capital expenditure forced economists to predict economic growth will be just 1.5 per cent - the slowest since financial year 2009.
ABS figures released on Thursday showed actual business investment was down 0.5 per cent in the June quarter in seasonally-adjusted terms, lower than market expectations of a 0.4 per cent gain.
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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
