The value of total capital investment projects in Australia has slid to a seven-year low, with construction on major gas developments being completed and as the mining sector shies away from fresh spending.

The deterioration comes despite mining sector profits more than doubling over the past year, while non-mining profits rose 17 per cent in the same period – their best growth rate since 2010, according to advisory firm Deloitte Access Economics. The value of investment projects fell to $744.7 billion at the…