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EXPERIMENTAL PROJECTED CAPITAL EXPENDITURE
BUILDINGS AND STRUCTURES
The projections for buildings and structures remain strong in the period to end June 2010. While expenditure expectations for the first half of 2009 decreased in the December survey data compared to September quarter, the first estimate of 2009-10 expenditure is strong relative to previous years. The buildings and structures projections are the main driver behind the strength displayed in the projection for total Capex.
EQUIPMENT, PLANT AND MACHINERY
Projections of expenditure for equipment, plant and machinery indicate near term weakness before recovery to levels near current quarter actual expenditure levels. The actual trend noticeably outpaced the projected level in the December 2008 quarter.
The Mining industry has experienced high growth since the start of 2005. The actual trend continued that pattern in the December quarter. Expectations for the first half of 2009 have weakened since the September survey. The first estimate for 2009-10 is a record high first estimate. The modelled projections suggest that this series will build towards the $12,000m level by the end of the 2009-10 financial year.
The Manufacturing actual trend series was stronger in the December quarter compared to recent quarters. The actual trend has diverged above the projected trend. The model is projecting imminent weakness in the series before significant growth through 2009-10. Expectations for the first half of 2009 decreased substantially in data collected in the December quarter survey.
OTHER SELECTED INDUSTRIES
In the December quarter, the Other selected industries series continued the recent growth in actual trend. The projected trend suggests an easing in growth of quarterly expenditure for Other selected industries in the six month period ahead. Growth is projected to resume in the series through the 2009-10 financial year.
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