Most industrial businesses have no plans to lift their spending on R&D this year despite reporting a positive investment outlook, according to an annual survey of industry leaders in the sector.
The survey, conducted by Australian Industry Group (Ai Group), shows only 19 per cent of firms intend to raise their level of R&D investment, with 69 per cent expected to maintain spending at 2023 levels.
While firms report a positive investment outlook, including for R&D, the net balance score for the indicator has fallen from +26 to +6 — the lowest investment expectation since 2013. This is broadly in line with CAPEX expectations, which fell from +31 to +5.
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