2022-02-09-牛津经济研究院-Australia_Business_investment_primed_for_post-COVID_upswing_3页_461kb

The report analyzes the post-COVID outlook for non-mining business investment in Australia. Investment stalled during the pandemic, particularly for buildings and structures due to high costs and longer lead times. However, forward indicators suggest an uptick in activity post-Financial Year 2022, with delayed rather than abandoned plans. Structural headwinds include persistently low investment rates and firm risk aversion, despite fiscal support like instant asset write-offs, which boosted machinery and equipment spending. Historical context shows pre-pandemic growth often tied to under-investment, and services sectors remain vulnerable to COVID uncertainty, while goods sectors show steadier demand. Recovery is expected in H2 2022, contingent on reduced uncertainty, but long-term trends like declining investment rates and sector shifts toward lower-investment areas pose limitations. Overall, the pandemic delayed investment cycles, but recovery may begin soon.