New economic figures show that the Information media and IT industries are growing at extraordinary rates
Fri 28 Nov 2025 07.00
Photo: AAP Image/Rounak Amini
The latest “Private New Capital Expenditure” (Capex) figures released today are the first of a series of data out over the next week that leads up to the GDP figures next Wednesday.
These cover business investment in either building and structures or machinery and equipment.
In the September quarter, total new capex rose 6.4% in volume terms (i.e. accounting for inflation), and non-mining capex went up 8.6%. This meant overall new capital expenditure was at the highest level since March 2015, when the mining construction boom was about to end:
What we are seeing at the moment is not a boom in mining capex, but non-mining, and specifically Information media and IT, and even more specifically datacentres for AI. Over the past year new capex in the Information media and IT industry accounted for 64% of the total increase in capex across all industries. That’s pretty surprising given that industry is pretty small – usually accounting for about 6% of all investment.
But what is happening now is very unusual – a doubling on investment compared to 2 years ago.
So anyone wondering if governments have time to wait before thinking about AI an the impact on energy supply and use and all other manner of issues, the answer is no.
Advertisement
A new report on the amount of revenue expected to be raised by the changes to superannuation tax on balances over $3m highlights yet again how the tax system is weighted in favour of the rich and that the government never gets thanks for doing what conservative forces demand.
Unemployment in November remained steady at 4.3% according to the latest figures out today from the Bureau of Statistics.
The easiest way to boost the supply of housing in Australia would be for governments to build new houses. And the easiest way to provide affordable rental accommodation would be to rent the new government-built houses to people at affordable rents. Fixing a housing crisis is not complicated.
Author of Vulture Capitalism, Grace Blakeley, has told Australian consumers they need to stand up to the huge companies which dominate their way of life.
