Companies collectively expect to invest $105.1 billion in the 2016/17 financial year, which is 9.1 per cent lower than they expected to invest at this time in 2015/16.But, not only is that a notable improvement on their June estimate of investing $89.2 billion in 2016/17, it's the best upgrade to a capital expenditure outlook in six years.Royal Bank of Canada chief economist Su-Lin Ong said the main drag was from mining, but non-mining investment was firmer and heading in the right direction, albeit slowly.
AGO Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
