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Forecasting Business Investment Using the Capital Expenditure Survey

Author

Listed:
  • Natasha Cassidy

    (Reserve Bank of Australia)

  • Emma Doherty

    (Reserve Bank of Australia)

  • Troy Gill

    (Reserve Bank of Australia)

Abstract

Business investment is a key driver of economic growth and is currently around record highs in Australia as a share of GDP. In compiling forecasts for business investment, the Reserve Bank uses a variety of different indicators, including information from liaison as well as survey measures of firms’ investment intentions. The most comprehensive survey is the Australian Bureau of Statistics’ (ABS) quarterly survey of Private New Capital Expenditure and Expected Expenditure (Capex survey). While firms’ expectations of capital expenditure from the Capex survey are a useful guide for forecasting business investment, the relatively large forecast errors suggest that the Capex expectations data should be used in conjunction with other sources of information

Suggested Citation

  • Natasha Cassidy & Emma Doherty & Troy Gill, 2012. "Forecasting Business Investment Using the Capital Expenditure Survey," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 1-10, September.
    • Handle: RePEc:rba:rbabul:sep2012-01
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2012/sep/pdf/bu-0912-1.pdf
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    Citations

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    Cited by:

    1. Gulnara Nolan & Jonathan Hambur & Philip Vermeulen, 2023. "Does Monetary Policy Affect Non-mining Business Investment in Australia? Evidence from BLADE," RBA Research Discussion Papers rdp2023-09, Reserve Bank of Australia.
    2. Leon Berkelmans & Gareth Spence, 2013. "Realisation Ratios in the Capital Expenditure Survey," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 1-6, December.

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