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Total New Capital Expenditure in Australia Rises in March Quarter

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Total new capital expenditure in Australia in seasonally adjusted terms was AU$52.57 billion in the March quarter, up nearly 15% on the same period last year, according to figures from the Australian Bureau of Statistics (ABS) released on Thursday.

The seasonally adjusted estimate for equipment, plant, and machinery surged 31% to AU$27.49 billion, while buildings and structures rose 0.8% to AU$25.08 billion.

"The lift in investment was the result of investment in data centre equipment, specifically server racks and processing equipment, significantly boosting overall investment figures," said Tom Lay, ABS head of business statistics.

Meanwhile, the trend estimate for total new capital expenditure was AU$51.96 billion, up over 13% on last year.

The trend estimate for buildings and structures rose 3.2% to AU$25.55 billion, while equipment, plant, and machinery jumped past 25% to AU$26.38 billion, according to the ABS data.

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