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New business investments fall

New business investments have slumped by 8.9 percent in the first quarter of the year, according to the Australian Bureau of Statistics.

The figures highlight the pressure currently being felt by businesses in the downturn, as they cut back on capital spending, as well as staff.

In this month’s Federal Budget, the Government forcast business investment to slump by 18.5 percent in 2009/10, before growing 3.5 percent in 2010/11.

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