It always seemed unlikely to us that non-mining investment would seamlessly fill the hole left by the plunge in mining investment. This is especially the case when the economy is saddled with a large amount of spare capacity, which means non-mining businesses don’t need to invest to meet demand. With the economy still growing at a rate below its potential, this isn’t going to change soon.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.