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Australian data overstated mining boom - RBA
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Wednesday, 26 Sep 2012
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Bloomberg recently reported that A central bank research paper showed that Australian government statistics on business investment plans have overestimated the extent of the nation’s mining boom since 2010,

Economists Natasha Cassidy, Emma Doherty and Troy Gill wrote in a report in the Reserve Bank of Australia’s quarterly bulletin that “Forecasts derived from the capital expenditure survey must be interpreted with a fair degree of caution.”

They said “If used on their own, the CAPEX expectations data have tended to over predict the upswing in mining investment over the past two years. This may be because the mining projects under way are large and complex in nature particularly the projects in the Liquefied Natural Gas sector and there have been unanticipated delays in work on these projects.”

They were referring to the quarterly survey data released by the Australian Bureau of Statistics.

Source - Bloomberg

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