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1.Market Observations

28 Feb 2014 (AFR) – Sharp spending drop stirs fears of ‘investment cliff’

(28 Feb 2014, AFR, p3, Jacob Greber Economics correspondent)

‘A nationwide business spending strike is hurtling the economy towards the sharpest investment retraction since the early 1990s recession.’

‘Though the rapid pullback has been anticipated, official figures released on Thursday by the Australian Bureau of Statistics suggest it may be stronger than first thought – triggering fresh speculation about whether there need to be more rate cuts from the Reserve Bank of Australia. In a wake-up call for policymakers in Canberra and Martin Place, companies signalled they planned to cut investment spending next financial year by 17 per cent, which would be the most in more than two decades.’

Read more at AFR.com (might need AFR login access)

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