More chief executives will go on a technology and capital investment strike this year than in any year since 2015 due to concerns about consumer demand.
Despite the Reserve Bank governor Philip Lowe, Treasurer Josh Frydenberg, Productivity Commissioner Michael Brennan and competition watchdog chairman Rod Sims all urging business to lift their efforts on investment, business has refused, with actual investment falling 1.7 per cent in the year to September.
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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
