This is why I'm so pessimistic re future for WOR. Hot off...

This is why I'm so pessimistic re future for WOR. Hot off today's press from the ABS:

By Leith van Onselen
The Australian Bureau of Statistics (ABS) today released data on capital expenditures (capex) for the September quarter of 2016, which registered a sharp 4.0% seasonally adjusted fall in capex volumes over the quarter and a 13.7% decrease over the year (see below table).

While Houses and Holes has covered the forward-looking capex plans over the coming year, below are some backward looking charts showing actual capex up to the September quarter of 2016.
The first chart below shows actual capex by industry in dollar terms (rather than volume terms as shown above). As you can see, the slump in total capex (-4.3%) in the September quarter was driven by mining capex (-7.0%), although manufacturing capex (-5.4%) and “other” (services) capex (-2.4%) also fell.