Just noticed i chopped-off the above paste too early. Below is graph specifically referring to mining. Graph in OP is probably the most useful when considering engineering sector.
from MB: 'While Houses and Holes will cover the forward-looking capex plans over the coming year, below are some backward looking charts showing actual capex up to the December 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 fall in total capex (-1.9%) in the December quarter was driven by mining capex (-8.6%), partly offset by manufacturing capex (+3.0%) and “other” (services) capex (+1.8%).
Graph shows the woeful macro, page-3
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