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Australia Third Quarter Capital Spending Rises 12.3%

Australian private new capital expenditure rose 12.3 percent in the third quarter in seasonally adjusted real terms, compared with the previous quarter, the Australian Bureau of Statistics said on Wednesday.

Forecasts centred on a rise of 8.3 percent on the quarter, a Reuters poll showed.

Real capital expenditure in the quarter was A$37.3 billion, seasonally adjusted.

The latest estimate for business investment spending for the financial year ending June 2011 was A$158.03 billion in current prices.