Investment by businesses is not keeping pace with the growing workforce, the Productivity Commission has warned, as new data shows spending on equipment edged lower in December, cementing expectations of weak GDP growth.
Machinery, plant and equipment investment fell by 0.1 per cent in the three months to December, the Australian Bureau of Statistics said on Thursday. This includes spending on things like vehicles, office equipment and electrical items.
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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
