Euro area business climate, US small business employment, Japan retail sales, Australia

Happy Thanksgiving to all!

Who would’ve thought?

Australia Q3 Private Investment Falls More than Estimated

Private capital expenditure in Australia dropped by 0.2 percent quarter-on-quarter in the three months to September 2019, following a revised 0.6 percent fall in the previous period and compared with market expectations of a 0.1 percent drop. This was the third straight quarter of decline in private investment, mainly due to a decrease in capital expenditure for equipment, plant and machinery (-3.5 percent vs 2 percent in Q2). On the other hand, spending for building and structure rebounded (2.7 percent vs -3 percent). Through the year to the third quarter, private capital expenditure shrank 1.3 percent.