In Q2 2026, private new capital expenditure on equipment, plant, and machinery in Australia fell 8.9% quarter-on-quarter, reversing an upwardly revised 18.4% surge in Q1—the strongest quarterly increase since Q4 1992. The downturn was mainly due to a pullback in non-mining investment, which declined 5.3% after a 9.2% rise in the previous quarter, while spending on mining-related equipment continued to grow, up 1.6% after a 0.6% increase in Q1.
By industry, investment fell sharply in information media and telecommunications (-30.2%), professional, scientific and technical services (-12.0%), and arts and recreation services (-11.8%). Despite the quarterly setback, annual growth in spending on equipment, plant, and machinery remained strong at 18.7%, though this represented a moderation from the upwardly revised 30.8% expansion recorded in the previous quarter.