ONLY CHARTS #221

Aus resource exploration, Aus government finances, Aus credit & deposits growth, Monetary policy restrictiveness

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1. Nominal spending on resource exploration in Australian declined again in Q3 as mining companies tighten their belts.

That followed yesterday’s CAPEX data which also revealed a decline in mining capital expenditure in Q3.

2. The Australian Government’s underlying cash budget balance for the 4 months to October was a deficit of $23b compared with a deficit of $29.4b forecast in the May Budget.

The headline cash budget deficit - which includes “off-balance sheet” net cash flows from investments in financial assets for policy purposes - was $24.3b over the same period compared with a deficit of $33.8b forecast in May.