Private new capital spending on buildings and equipment fell 0.2% to $27.7bn in the first quarter of 2010 from $27.75bn in the fourth quarter 2009, the Australian Bureau of Statistics said.
Spending rose 1% from the first quarter of 2009. A sixth estimate of expenditure shows companies expect to invest $108.7bn in the fiscal year ending June 30, 2010, a fall of 2.5% from the sixth estimate for 2008-09.
The second estimate for 2010-11 is $103.9bn, up 16.9% from the corresponding estimate for 2009-10.