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ACTUAL AND EXPECTED NEW CAPITAL EXPENDITURE
TOTAL CAPITAL EXPENDITURE
The seventh and final estimate for 2007-08 for total capital expenditure is $86,404 million. This is the highest seventh estimate on record and has shown an increase of 11.4% from the final estimate for 2006-07. There has been growth in both asset classes, particularly building which rose 17.4% while equipment rose 6.6%. The seventh estimate is 1.6% below the sixth estimate. A 1.3% rise in equipment was offset by a 4.7% fall in the building asset class.
The third estimate for 2008-09 is a series high at $99,758 million which is 26.2% higher than the same measure for 2007-08. The third estimate reflects some deferral of planned 2007-08 spending and reveals some spread of investment intentions into downstream industries connected to mining. Both asset classes have shown substantial growth when compared to the third estimate of the previous year with building rising 29.5% and equipment rising 22.5%. The third estimate is also 14.5% stronger than the second estimate. Building has risen 15.1% and equipment 14.0% between the second and third estimates.
BUILDING AND STRUCTURES
The seventh and final estimate for 2007-08 for the building asset class is $40,449 million. This is a rise of 17.4% from the final estimate in the previous year. Most of this growth has come from Mining (21.3%) and Other services (25.2%). When compared to the sixth estimate building fell 4.7%. Mining contributed significantly to this movement, falling 8.1%. Amongst other industries, Wholesale (-10.8%) was notably weak between these two estimates for building.
The third estimate for 2008-09 is 29.5% higher than it was in 2007-08. Most of this growth has come from Mining, which has risen 36.8% while Manufacturing also increased 59%, from a much lower 2007-08 level. When compared to the second estimate for 2008-09, the third estimate rose 15.1% for building with Mining, Manufacturing and Transport driving this growth.
EQUIPMENT, PLANT AND MACHINERY
The seventh and final estimate for 2007-08 is $45,955 million. This is a rise of 6.6% from the seventh estimate of the previous year. The growth in this comparison was lead by Mining (30.0%) and Construction (23.2%). When compared to the sixth estimate equipment rose 1.3%. There was marginal growth seen across most industries yet falls in Mining (-1.2%) and Manufacturing (-1.9%).
The third estimate for 2008-09 rose 22.5% from the previous year to $45,936 million. There were strong gains in Transport (55.9%) and Mining (51.9%). When compared to the second estimate for 2008-09 estimate 3 rose 14.0%. Mining increased (24.7%), Construction (26.2%) and Wholesale (27.2%).
The seventh and final estimate for 2007-08 of $27,347 million for the Mining industry is 23.6% greater than the seventh estimate in 2006-07. Growth was strong in both asset classes with equipment rising 30.0% and building 21.3%. When compared to estimate 6, the seventh estimate is 6.3% lower. Both asset classes fell (equipment -1.2%, building -8.1%).
The third estimate for 2008-09 is strong at $39,935 million, a rise of 40.4% from the corresponding estimate of 2007-08. Both asset classes recorded very strong gains in this comparison with equipment rising 51.9% and building 36.8%. The third estimate is 16.8% higher than estimate 2.
Estimate 7 of 2007-08 for Manufacturing rose 0.9% when compared to the same estimate of 2006-07 to $13,390 million. Equipment rose 1.6% in this comparison while the building asset class fell 0.5%. The seventh estimate is 1.4% lower than the sixth estimate with equipment falling 1.9% and building decreasing 0.2%.
The third estimate at $13,819 million is 18.9% higher than the third estimate of the previous year. Building has gained 59.0% and equipment is up 4.3%. Estimate 3 is 21.3% higher than the second estimate. The rise in the building asset class was 27.0% and equipment rose 18.3%.
OTHER SELECTED INDUSTRIES
Estimate 7 for Other selected industries is 8.3% higher than the previous seventh estimate at $45,666 million. The building asset class (18.0%) was much stronger than equipment which rose 3.4%. When compared to the sixth estimate, estimate 7 rose 1.4%. Equipment was the stronger asset class rising 3.1% while building fell 1.4%.
The third estimate for 2008-09 for Other selected industries is $46,004 million, following a rise of 18.0% on the previous year. Equipment rose 20.5% and building 14.6%. When compared to the second estimate Other selected industries rose 10.8%. Both asset classes rose strongly in this comparison, building 13.4% and equipment 9.0%.
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