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5625.0 - Private New Capital Expenditure and Expected Expenditure, Australia, Mar 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 29/05/2008   
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ACTUAL AND EXPECTED NEW CAPITAL EXPENDITURE


FINANCIAL YEARS AT CURRENT PRICES

The graphs below show the seven estimates of actual and expected expenditure for each financial year. The estimates appearing below relate to data contained in tables 5 and 6. Advice about the application of realisation ratios to these estimates is in paragraphs 25 to 28 of the Explanatory Notes.

The timing and construction of these estimates are as follows:

Composition of Estimate


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.

Graph: Total Capital Expenditure


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.

Graph: Building and Structures


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%).

Graph: Equipment, Plant and Machinery


MINING

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.

Graph: Mining


MANUFACTURING

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%.

Graph: Manufacturing


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%.

Graph: Other Selected Industries


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