However, the announced Stage 4 restrictions in Melbourne limit the number of workers on  a site, and so will constrain commercial and residential construction activity there. The main reason for the weak investment outlook, though, is that many businesses across Australia have put investment plans on hold in response to the environment of weak demand and heightened uncertainty.
This has been a particular issue for machinery and equipment investment, because this category of investment spending is more sensitive to demand conditions. Dwelling investment is also expected to be weak in the period ahead.