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Better than expected business investment in the December quarter offered some good news yesterday for the weak economy.
New private capital expenditure rose by 6 per cent in real terms, seasonally adjusted, in the December quarter to $24.894 billion, ABS data showed yesterday.
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The result was markedly better than the median market forecast for a fall of 3 per cent.
The ABS’ fifth estimate of expenditure for 2008/09 also rose 14.3 per cent from 2007/08 to $98.145 billion.
