Private new capital expenditure on equipment, plant, and machinery in Australia fell 8.9% quarter-on-quarter in Q2 2026, reversing an upwardly revised 18.4% surge in the previous period, which marked the strongest growth since Q4 1992. The decline was largely driven by lower non-mining investment, which dropped 5.3% after rising 9.2% in Q1, while spending on mining-related equipment increased 1.6% following a 0.6% gain. By industry, investment contracted sharply in information media and telecommunications (-30.2%), professional, scientific and technical services (-12.0%), and arts and recreation services (-11.8%). On an annual basis, spending on equipment, plant, and machinery rose 18.7%, easing from an upwardly revised 30.8% growth rate in the previous quarter.