ANZ's Felicity Emmett said that result would be consistent with both an ongoing contraction in the mining sector, as well as a slowly improving outlook in the non-mining parts of the economy.
"In terms of actual activity, we expect a fifth consecutive quarterly decline in capex ... down 2.8 per cent," Ms Emmett said.
"Expenditure on buildings and structures is forecast to have fallen heavily again, down 5 per cent, led as usual by declining mining-related engineering construction."