Australian companies spent more money in their businesses than expected in the second quarter, according to official data released on Thursday.
Australian companies spent more money in their businesses than expected in the second quarter, according to official data released on Thursday.
The Australian Bureau of Statistics (ABS) said total new capital expenditure by businesses rose by 4.0 percent to just over $35.89 billion in the June quarter, Xinhua reported.
The figure was higher than the market expectation of a 0.8 percent rise.
According to ABS, total new expenditure on building and structures jumped by 7.1 percent, led by a strong 10.2 percent rise in mining sector investment, while manufacturing spending fell by 3.6 percent.
The ABS figures also showed total investment on plants, equipment and machinery declined by 1.2 percent in the quarter, dragged down by a 13.6 percent fall in spending by mining companies and an 11 percent decline in expenditure by manufacturers.
-IANS
