Australia’s plant and machinery capital expenditure sharply reversed course in the fourth quarter of 2025, falling by 1.7% quarter-over-quarter after a strong 11.5% expansion in the previous quarter, according to data updated on 26 February 2026.
The latest figures mark a notable loss of momentum in investment, with the third quarter of 2025 having shown robust quarter-on-quarter growth. The fourth-quarter reading, by contrast, points to a pullback in spending by businesses on productive equipment and machinery.
On a comparative basis, the “actual” result for the current quarter reflects the change from the third to the fourth quarter of 2025, while the “previous” figure captured the shift from the second to the third quarter of 2025. The move from double-digit growth to a modest contraction suggests a more cautious investment stance among Australian firms heading into the end of 2025.
