AI revolution and consumer spending give economy a lift

AI Summary

Private business investment in Australia surged by 6% in the March quarter, boosted by a 30-year high in machinery and equipment purchases primarily used for building data centres. This investment surge reflects growing momentum in the AI technology and realestate sectors.

Private business investment jumped by 6 per cent in the March quarter, driven by a 30-year-high increase in machinery and equipment, much of which is used to build data centres.