AUSTRALIA

Capital Investment Exceeds Forecast: The country’s business sector expects that the government will substantially exceed its forecast for business investment growth of 14.5% in the year ending June 30. A survey by the Business Council of Australia, which covers the nation’s major companies, said three-fifths of respondents now expect capital expenditure to grow by more than 20%. The council’s ninth half-yearly survey of current business conditions indicates that most businesses believe strong economic growth will continue. The economy grew 6.4% in the year ended Sept. 30, a nine-year high. However, respondents said they expect inflation will rise slightly over the next five years.