From michaelwest.com.au: Businesses are postponing major project investments, with planned project values declining nearly three percent to $601 billion due to economic uncertainty, according to Deloitte Access Economics.

Increasing operating costs, alongside a slowdown in revenue, have prompted companies to implement cost-cutting measures while awaiting a more stable economic outlook.

Despite recent declines in investment, long-term prospects remain strong, driven by population growth and the transition to net zero emissions, which encourages infrastructure and technology investments.