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ACTUAL AND EXPECTED NEW CAPITAL EXPENDITURE
TOTAL CAPITAL EXPENDITURE
The sixth estimate for 2007-08 for total capital expenditure is $87,007 million. This is the highest sixth estimate on record and has shown an increase of 11.1% from the same estimate for 2006-07. There has been growth in both asset classes, particularly building and structures which rose 18.2% while equipment rose 5.0%. The sixth estimate is 1.3% stronger than the fifth estimate. A 4.0% rise in equipment was offset by a 1.4% fall in the building asset class.
The second estimate for 2008-09 is $84,835 million which is 19.5% higher than the same reading for 2007-08. This is also a series high. Both asset classes have shown substantial growth when compared to the second estimate of the previous year with building rising 21.0% and equipment rising 17.8%. The second estimate is also 6.9% stronger than the first estimate. Building is stronger in this comparison for 2008-09 rising 10.1% while equipment (3.3%) had a more modest rise.
BUILDING AND STRUCTURES
The sixth estimate for 2007-08 for the building and structures asset class is $42,608 million. This is a rise of 18.2% from the same estimate in the previous year. Most of this growth has come from Mining (24.5%) and Other services (30.5%). When compared to the fifth estimate building and structures fell 1.4%. Most industries with the exception of Retail (-16.9%) and Finance (-12.3%) had small movements between these two estimates.
The second estimate for 2008-09 is 21.0% higher than it was in 2007-08. Most of this growth has come from Mining (22.9%), Manufacturing (51.8%) and Property and business services (40.4%). When compared to the first estimate for 2008-09, the second estimate rose 10.1% for building with again Mining, Manufacturing and Property and business services driving this growth.
EQUIPMENT, PLANT AND MACHINERY
The sixth estimate for 2007-08 is $44,400 million. This is a rise of 5.0% from the sixth estimate of the previous year. The growth in this comparison was lead by Mining (22.2%) and Construction (27.6%). When compared to the fifth estimate equipment rose 4.0%. There was small growth seen across most industries with falls in Mining (-1.9%) and Retail (-3.2%).
The second estimate for 2008-09 rose 17.8% from the previous year to $38,720 million. There were strong gains in Transport (102.5%) and Mining (30.4%). When compared to the first estimate for 2008-09 estimate 2 rose 3.3%. Mining (9.7%), Other services (20.2%) and Retail (21.2%) were the main drivers of this growth which was offset by Transport falling (-10.5%).
The sixth estimate for 2007-08 of $28,992 million for the Mining industry is 23.9% greater than the sixth estimate in 2006-07. Growth was consistent between asset classes with equipment rising 22.2% and building 24.5%. When compared to estimate 5, the sixth estimate is 3.4% lower. Both asset classes fell (equipment -1.9%, building -3.8%).
The second estimate is strong for 2008-09 at $33,569 million, a rise of 24.5% from the corresponding estimate of 2007-08. Both asset classes recorded strong gains in this comparison with equipment rising 30.4% and building 22.9%. The second estimate is 9.7% higher than estimate 1. Both asset classes rose 9.7% between the two estimates.
Estimate 6 of 2007-08 for Manufacturing fell 0.6% when compared to the same estimate of 2006-07 to $13,639 million. Equipment rose 0.5% in this comparison while the building asset class fell 3.0%. The sixth estimate is 3.6% higher then the fifth estimate with equipment rising 2.7% and building 5.7%.
The second estimate at $11,549 million is 13.0% higher than the second estimate of the previous year. There was a small fall of $2 million in the larger asset class of equipment while building rose 51.8%. Estimate 2 is 5.6% higher than the first estimate. This growth came through again in the building asset class which rose 26.0% while equipment fell 2.5%.
OTHER SELECTED INDUSTRIES
Estimate 6 for Other selected industries is 7.7% higher than the previous sixth estimate at $44,376 million. The building asset class (16.8%) was much stronger than equipment which rose 2.8%. When compared to the fifth estimate, estimate 6 rose 3.9%. Equipment was the stronger asset type rising 6.1% while building saw a modest rise of 0.4%.
The second estimate for 2008-09 for Other selected industries at $39,718 million rose 17.5% from the previous year. Equipment rose 21.1% and building 12.7%. When compared to the first estimate Other selected industries rose 4.9%. Both asset classes rose in this comparison, building 7.3% and equipment 3.4%.
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