Business Investment Growth
Business Investment Growth (21238) measures how fast private businesses are adding to the capital stock: the change over the year in private investment in non-dwelling construction and in machinery and equipment. Higher readings mean faster investment growth. It belongs to the Employment & GDP family (21230) and is read in its own right.
Business investment is a leading driver of productivity and of demand for construction capacity, which housing also draws on. Dwelling investment is excluded.
Investment is volatile, and non-dwelling construction is dominated by large projects: its record includes the investment cycles of the early 1980s, the 2000s and the 2012 mining peak. The node measures the flow of investment, not the capital stock per worker. The national accounts are revised each quarter.
Primary metric: Node Z-Score (Z21238)
Metric typology: equal-weighted mean of two standardised growth rates, chain volume measures, each against its own 2011–2025 baseline.
| Input | Source | Frequency | Coverage |
|---|---|---|---|
| Private gross fixed capital formation, non-dwelling construction, chain volume, seasonally adjusted | ABS Australian National Accounts (5206.0), Table 2, A2304089R | Quarterly | September quarter 1959 to June quarter 2026 |
| Private gross fixed capital formation, machinery and equipment, chain volume, seasonally adjusted | ABS Australian National Accounts (5206.0), Table 2, A2304085F | Quarterly | September quarter 1959 to June quarter 2026 |
Tier-1 sovereign statistical release. No commercial data provider dependency exists within this node.
The chart shows the node’s reading in every quarter, each input measured against its 2011–2025 baseline.
The June quarter 2026 reading, +0.9727σ, ranks 73.8 against 264 quarters and sits inside the normal range of −0.9677σ to +1.4883σ. The highest ranked reading was +2.5668σ in the March quarter 1998, and the lowest −2.0218σ in the June quarter 1983. The record includes the investment cycles of the early 1980s, the 2000s and the 2012 mining peak.
Show the data
| Quarter | Reading | Basis |
|---|---|---|
| Q3 1960 | +2.3633σ | Ranked |
| Q4 1960 | +1.4886σ | Ranked |
| Q1 1961 | −0.0280σ | Ranked |
| Q2 1961 | −0.4262σ | Ranked |
| Q3 1961 | −0.9244σ | Ranked |
| Q4 1961 | −1.0665σ | Ranked |
| Q1 1962 | +0.0582σ | Ranked |
| Q2 1962 | +0.1683σ | Ranked |
| Q3 1962 | +0.7673σ | Ranked |
| Q4 1962 | +1.0202σ | Ranked |
| Q1 1963 | +1.1542σ | Ranked |
| Q2 1963 | +0.4466σ | Ranked |
| Q3 1963 | +0.8544σ | Ranked |
| Q4 1963 | +1.0218σ | Ranked |
| Q1 1964 | +0.2869σ | Ranked |
| Q2 1964 | +1.8187σ | Ranked |
| Q3 1964 | +0.8560σ | Ranked |
| Q4 1964 | +0.9812σ | Ranked |
| Q1 1965 | +0.7160σ | Ranked |
| Q2 1965 | +0.9488σ | Ranked |
| Q3 1965 | +1.1740σ | Ranked |
| Q4 1965 | +0.8611σ | Ranked |
| Q1 1966 | +1.2521σ | Ranked |
| Q2 1966 | −0.2591σ | Ranked |
| Q3 1966 | −0.0471σ | Ranked |
| Q4 1966 | −0.2486σ | Ranked |
| Q1 1967 | −0.0441σ | Ranked |
| Q2 1967 | +0.0802σ | Ranked |
| Q3 1967 | +0.1667σ | Ranked |
| Q4 1967 | +0.5885σ | Ranked |
| Q1 1968 | +0.2461σ | Ranked |
| Q2 1968 | +0.7388σ | Ranked |
| Q3 1968 | +0.8604σ | Ranked |
| Q4 1968 | +1.2531σ | Ranked |
| Q1 1969 | +0.7121σ | Ranked |
| Q2 1969 | +1.2359σ | Ranked |
| Q3 1969 | +0.2599σ | Ranked |
| Q4 1969 | −0.2191σ | Ranked |
| Q1 1970 | +0.2463σ | Ranked |
| Q2 1970 | −0.0976σ | Ranked |
| Q3 1970 | +0.3964σ | Ranked |
| Q4 1970 | +0.7519σ | Ranked |
| Q1 1971 | +1.6126σ | Ranked |
| Q2 1971 | +1.0600σ | Ranked |
| Q3 1971 | +1.3600σ | Ranked |
| Q4 1971 | +0.2830σ | Ranked |
| Q1 1972 | −0.8876σ | Ranked |
| Q2 1972 | −0.8137σ | Ranked |
| Q3 1972 | −0.9306σ | Ranked |
| Q4 1972 | −0.4178σ | Ranked |
| Q1 1973 | +0.2508σ | Ranked |
| Q2 1973 | +0.5423σ | Ranked |
| Q3 1973 | +0.1107σ | Ranked |
| Q4 1973 | +1.0007σ | Ranked |
| Q1 1974 | +0.7479σ | Ranked |
| Q2 1974 | −0.0169σ | Ranked |
| Q3 1974 | +0.1634σ | Ranked |
| Q4 1974 | −1.1222σ | Ranked |
| Q1 1975 | −1.0297σ | Ranked |
| Q2 1975 | −0.5268σ | Ranked |
| Q3 1975 | −0.2723σ | Ranked |
| Q4 1975 | −0.3723σ | Ranked |
| Q1 1976 | +0.2373σ | Ranked |
| Q2 1976 | +0.2586σ | Ranked |
| Q3 1976 | −0.3792σ | Ranked |
| Q4 1976 | +1.0102σ | Ranked |
| Q1 1977 | +0.1193σ | Ranked |
| Q2 1977 | −0.3041σ | Ranked |
| Q3 1977 | +0.3040σ | Ranked |
| Q4 1977 | −0.3036σ | Ranked |
| Q1 1978 | +0.0970σ | Ranked |
| Q2 1978 | +1.4976σ | Ranked |
| Q3 1978 | +1.9171σ | Ranked |
| Q4 1978 | +2.3755σ | Ranked |
| Q1 1979 | +2.0535σ | Ranked |
| Q2 1979 | +0.7883σ | Ranked |
| Q3 1979 | −0.0722σ | Ranked |
| Q4 1979 | −0.5693σ | Ranked |
| Q1 1980 | −0.4897σ | Ranked |
| Q2 1980 | −0.0519σ | Ranked |
| Q3 1980 | +1.4877σ | Ranked |
| Q4 1980 | +1.3318σ | Ranked |
| Q1 1981 | +1.9969σ | Ranked |
| Q2 1981 | +2.2184σ | Ranked |
| Q3 1981 | +0.9252σ | Ranked |
| Q4 1981 | +1.9029σ | Ranked |
| Q1 1982 | +0.7950σ | Ranked |
| Q2 1982 | +0.2522σ | Ranked |
| Q3 1982 | −0.4523σ | Ranked |
| Q4 1982 | −1.1615σ | Ranked |
| Q1 1983 | −1.6315σ | Ranked |
| Q2 1983 | −2.0218σ | Ranked |
| Q3 1983 | −0.9112σ | Ranked |
| Q4 1983 | −1.0297σ | Ranked |
| Q1 1984 | −0.0305σ | Ranked |
| Q2 1984 | +1.3439σ | Ranked |
| Q3 1984 | +0.2484σ | Ranked |
| Q4 1984 | +0.7562σ | Ranked |
| Q1 1985 | +1.8726σ | Ranked |
| Q2 1985 | +1.3317σ | Ranked |
| Q3 1985 | +1.9698σ | Ranked |
| Q4 1985 | +1.4102σ | Ranked |
| Q1 1986 | −0.1681σ | Ranked |
| Q2 1986 | +0.0291σ | Ranked |
| Q3 1986 | −0.5535σ | Ranked |
| Q4 1986 | +0.6519σ | Ranked |
| Q1 1987 | +0.2948σ | Ranked |
| Q2 1987 | +0.8254σ | Ranked |
| Q3 1987 | +1.1076σ | Ranked |
| Q4 1987 | +0.7715σ | Ranked |
| Q1 1988 | +1.8935σ | Ranked |
| Q2 1988 | +1.4643σ | Ranked |
| Q3 1988 | +0.6766σ | Ranked |
| Q4 1988 | +1.0668σ | Ranked |
| Q1 1989 | +1.2982σ | Ranked |
| Q2 1989 | +0.8553σ | Ranked |
| Q3 1989 | +1.3708σ | Ranked |
| Q4 1989 | +0.0933σ | Ranked |
| Q1 1990 | −0.8309σ | Ranked |
| Q2 1990 | −1.4680σ | Ranked |
| Q3 1990 | −1.3242σ | Ranked |
| Q4 1990 | −1.4969σ | Ranked |
| Q1 1991 | −1.8755σ | Ranked |
| Q2 1991 | −1.6183σ | Ranked |
| Q3 1991 | −1.8614σ | Ranked |
| Q4 1991 | −1.6470σ | Ranked |
| Q1 1992 | −0.6210σ | Ranked |
| Q2 1992 | −0.6835σ | Ranked |
| Q3 1992 | −0.8897σ | Ranked |
| Q4 1992 | +1.4905σ | Ranked |
| Q1 1993 | +0.2358σ | Ranked |
| Q2 1993 | +0.5582σ | Ranked |
| Q3 1993 | +0.9286σ | Ranked |
| Q4 1993 | −0.8537σ | Ranked |
| Q1 1994 | +0.8980σ | Ranked |
| Q2 1994 | +0.9249σ | Ranked |
| Q3 1994 | +1.7412σ | Ranked |
| Q4 1994 | +2.1607σ | Ranked |
| Q1 1995 | +1.0652σ | Ranked |
| Q2 1995 | +1.4886σ | Ranked |
| Q3 1995 | +0.9519σ | Ranked |
| Q4 1995 | +0.4186σ | Ranked |
| Q1 1996 | +1.3358σ | Ranked |
| Q2 1996 | +1.1415σ | Ranked |
| Q3 1996 | +1.1998σ | Ranked |
| Q4 1996 | +1.0833σ | Ranked |
| Q1 1997 | +0.4943σ | Ranked |
| Q2 1997 | +1.1424σ | Ranked |
| Q3 1997 | +0.8872σ | Ranked |
| Q4 1997 | +0.8216σ | Ranked |
| Q1 1998 | +2.5668σ | Ranked |
| Q2 1998 | +0.0289σ | Ranked |
| Q3 1998 | +0.1683σ | Ranked |
| Q4 1998 | +0.4522σ | Ranked |
| Q1 1999 | −1.4639σ | Ranked |
| Q2 1999 | +0.3104σ | Ranked |
| Q3 1999 | +0.4665σ | Ranked |
| Q4 1999 | +0.3068σ | Ranked |
| Q1 2000 | +1.7023σ | Ranked |
| Q2 2000 | +0.5181σ | Ranked |
| Q3 2000 | +0.5880σ | Ranked |
| Q4 2000 | −1.0242σ | Ranked |
| Q1 2001 | −1.3498σ | Ranked |
| Q2 2001 | −1.3286σ | Ranked |
| Q3 2001 | −1.1588σ | Ranked |
| Q4 2001 | +0.4639σ | Ranked |
| Q1 2002 | +0.4404σ | Ranked |
| Q2 2002 | +1.2488σ | Ranked |
| Q3 2002 | +1.3315σ | Ranked |
| Q4 2002 | +2.1911σ | Ranked |
| Q1 2003 | +1.7157σ | Ranked |
| Q2 2003 | +1.2595σ | Ranked |
| Q3 2003 | +1.2405σ | Ranked |
| Q4 2003 | +0.6070σ | Ranked |
| Q1 2004 | +0.7439σ | Ranked |
| Q2 2004 | +0.8225σ | Ranked |
| Q3 2004 | +0.5992σ | Ranked |
| Q4 2004 | +1.1308σ | Ranked |
| Q1 2005 | +0.8846σ | Ranked |
| Q2 2005 | +1.3124σ | Ranked |
| Q3 2005 | +1.5676σ | Ranked |
| Q4 2005 | +1.3692σ | Ranked |
| Q1 2006 | +1.3954σ | Ranked |
| Q2 2006 | +0.7950σ | Ranked |
| Q3 2006 | +0.1935σ | Ranked |
| Q4 2006 | −0.2853σ | Ranked |
| Q1 2007 | +0.5086σ | Ranked |
| Q2 2007 | +0.8586σ | Ranked |
| Q3 2007 | +1.2486σ | Ranked |
| Q4 2007 | +1.3315σ | Ranked |
| Q1 2008 | +0.9272σ | Ranked |
| Q2 2008 | +0.7120σ | Ranked |
| Q3 2008 | +0.6041σ | Ranked |
| Q4 2008 | +0.4495σ | Ranked |
| Q1 2009 | −0.3807σ | Ranked |
| Q2 2009 | −0.5724σ | Ranked |
| Q3 2009 | −1.1966σ | Ranked |
| Q4 2009 | −0.3694σ | Ranked |
| Q1 2010 | −0.5315σ | Ranked |
| Q2 2010 | −0.5392σ | Ranked |
| Q3 2010 | +0.0443σ | Ranked |
| Q4 2010 | −0.1999σ | Ranked |
| Q1 2011 | +0.9004σ | Ranked |
| Q2 2011 | +1.3419σ | Ranked |
| Q3 2011 | +2.4227σ | Ranked |
| Q4 2011 | +1.5576σ | Ranked |
| Q1 2012 | +2.0105σ | Ranked |
| Q2 2012 | +1.8766σ | Ranked |
| Q3 2012 | +0.7531σ | Ranked |
| Q4 2012 | +0.6070σ | Ranked |
| Q1 2013 | −0.4287σ | Ranked |
| Q2 2013 | −0.6544σ | Ranked |
| Q3 2013 | −0.9873σ | Ranked |
| Q4 2013 | −0.9836σ | Ranked |
| Q1 2014 | −0.8346σ | Ranked |
| Q2 2014 | −1.0368σ | Ranked |
| Q3 2014 | −0.5647σ | Ranked |
| Q4 2014 | −0.2606σ | Ranked |
| Q1 2015 | −0.5850σ | Ranked |
| Q2 2015 | −0.7800σ | Ranked |
| Q3 2015 | −1.3651σ | Ranked |
| Q4 2015 | −1.2777σ | Ranked |
| Q1 2016 | −1.2466σ | Ranked |
| Q2 2016 | −1.1656σ | Ranked |
| Q3 2016 | −0.8532σ | Ranked |
| Q4 2016 | −0.8331σ | Ranked |
| Q1 2017 | −0.5440σ | Ranked |
| Q2 2017 | −0.3781σ | Ranked |
| Q3 2017 | +0.7180σ | Ranked |
| Q4 2017 | +0.6665σ | Ranked |
| Q1 2018 | +0.7015σ | Ranked |
| Q2 2018 | +0.6764σ | Ranked |
| Q3 2018 | −0.0770σ | Ranked |
| Q4 2018 | −0.1592σ | Ranked |
| Q1 2019 | −0.2339σ | Ranked |
| Q2 2019 | −0.2173σ | Ranked |
| Q3 2019 | −0.2933σ | Ranked |
| Q4 2019 | −0.1873σ | Ranked |
| Q1 2020 | −0.4129σ | Ranked |
| Q2 2020 | −0.7791σ | Ranked |
| Q3 2020 | −0.9008σ | Ranked |
| Q4 2020 | −0.3736σ | Ranked |
| Q1 2021 | +0.4324σ | Ranked |
| Q2 2021 | +1.0561σ | Ranked |
| Q3 2021 | +1.1751σ | Ranked |
| Q4 2021 | +0.5507σ | Ranked |
| Q1 2022 | −0.0673σ | Ranked |
| Q2 2022 | +0.0773σ | Ranked |
| Q3 2022 | +0.1864σ | Ranked |
| Q4 2022 | +0.0789σ | Ranked |
| Q1 2023 | +0.4396σ | Ranked |
| Q2 2023 | +0.5756σ | Ranked |
| Q3 2023 | +0.3736σ | Ranked |
| Q4 2023 | +0.4941σ | Ranked |
| Q1 2024 | +0.0912σ | Ranked |
| Q2 2024 | −0.2653σ | Ranked |
| Q3 2024 | −0.2627σ | Ranked |
| Q4 2024 | −0.3519σ | Ranked |
| Q1 2025 | −0.3908σ | Ranked |
| Q2 2025 | −0.3474σ | Ranked |
| Q3 2025 | +0.1773σ | Ranked |
| Q4 2025 | +0.1581σ | Ranked |
| Q1 2026 | +1.2585σ | Ranked |
| Q2 2026 | +0.9727σ | Ranked |
At +0.9727σ (Q2 2026), business investment is growing well above its 2011–2025 average, led by machinery and equipment (+15.95% over the year) with non-dwelling construction also up (+7.65%). Position. 73.8, ranked against 264 quarters since September 1960.
The reading eased from +1.2585σ in March 2026, the highest since June 2012, after a large rise in machinery and equipment investment in the March quarter. From June 2024 to June 2025 the node read below zero.
The other nodes of the Employment & GDP family. Only Labour Market Tightness (21231) and Growth per Person (21235) compose into Employment & GDP (21230); the others are read in their own right.
- Both inputs are sourced from a Tier-1 sovereign statistical release (ABS national accounts)
- The Z-score of +0.9727σ (Q2 2026) is derived directly from the certified inputs against their 2011–2025 baselines, not manually entered or estimated
- The position is an empirical percentile rank against 264 quarters
- No commercial data provider dependency exists within this node
