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gross terms. On investment in property, statistics
are available on building completions and on consents
to commence work.
Investment in plant and machinery
(all growth rates quoted in this section are on a
year-on-year comparison and are expressed in real
terms, unless otherwise indicated)
(a) Capital expenditure on plant and
machinery
Table 1
3.
According to the preliminary quarterly GDP
estimates, private sector expenditure on plant and
machinery rose by 1% in the first quarter of 1990,
while public sector expenditure was 11% higher. The.
private sector continued to dominate investment in
plant and machinery, accounting for about 96% of the
total. Taking both sectors together overall
expenditure on plant and machinery showed an
increase of only 1% (Table 1). Although this already
represented an improvement from the declines of 5% and
13% respectively in the third and fourth quarters of
1989, investment intentions were still generally
subdued.
G.F. 326
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