Business Investment
THE value of investment by Western Australian companies decreased by $663 million (26.1 per cent) to $1,878 million in March 2004, from its record value of more than $2.5 billion in December. The decrease was one of the steepest quarterly drops ever recorded, but it followed a year of strongly rising investment over 2003. Investment increased by 9.8 per cent in the four quarters to March 2004.
Investment by the WA mining sector accounted for much of the drop in total investment, falling by $354 million (25.1 per cent) to $1,054 million between the December and March quarters. Mining investment rose by 6.9 per cent in the four quarters to March 2004.
National corporate investment is much less volatile than WA’s.
The seasonally adjusted value of investment by Australian companies decreased by $621 million (4.8 per cent) to $12,315 million between the December and March quarters. Investment fell by 4.0 per cent in the four quarters to March 2004.
Source: ABS Cat. 53625