Despite Joe Hockey talking up the non-mining investment picture, a more accurate description is that it’s bad, but not as bad as we thought it could be

The new capital expenditure figures released last week continue to reinforce that the mining boom is done and dusted, and that the transition from the boom continues at a slow pace. The budget measures designed to spur investment by small business as yet don’t appear to have had much impact, but there are some small signs of improvement.

Capital expenditure is essentially spending done by the private sector on infrastructure, buildings and machinery and equipment. So when companies are increasing their investment in such things, the signs are generally good. Not only will companies need to employ someone to construct the buildings and structures, they will also need people to use the machinery and equipment.

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Source: The Guardian Circular Economy RSS