CANBERRA, ACT, May 28 -- The Treasurer of Australia issued the following media release:
New figures released by the ABS today show private sector investment is soaring under the Albanese Labor Government.
Capital expenditure has far exceeded market expectations, with billions more being poured into productive investments.
This is good news for Australian businesses and good news for our economy.
New private capital expenditure (capex) grew very strongly at 6.5percent in the March quarter - more than six times the median market expectation.
It means capex is up 14.6percent through the year.
Data centres, renewable energy and battery storage drove non‑mining capex, which grew 8.8percent through the quarter and is up 20.9percent th...