5232.0 - Australian National Accounts: Finance and Wealth, Sep 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 20/12/2017   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

SEPTEMBER KEY FIGURES

FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES

Non-financial corporations
Financial corporations
General government
Household
Total National
Rest of world
$b
$b
$b
$b
$b
$b

Financing resources
Net saving (a)
-12.5
17.0
-7.1
24.1
21.5
11.6
plus Consumption of fixed capital
38.2
2.8
9.4
28.8
79.2
-
Gross saving
25.7
19.8
2.4
52.9
100.8
11.6
plus Net capital transfers
1.3
-
-1.5
0.1
-0.1
0.1
less Statistical discrepancy (b)
-
-
-
-
2.7
-
Total financing resources
27.0
19.8
0.9
53.0
97.9
11.7
Uses of financing (Investment)
Capital formation
Gross fixed capital formation
49.0
2.9
13.6
41.6
107.0
-
plus Change in inventories
3.6
-
0.1
-1.1
2.6
-
plus Net acquisition of non-produced non-financial assets
0.3
-
-0.3
-
-
-
Total capital formation
52.9
2.9
13.4
40.5
109.6
-
plus Financial investment
Acquisition of financial assets
29.6
-19.0
-12.6
55.8
-15.1
-0.9
less Incurrence of liabilities
34.3
17.9
3.1
12.6
-0.9
-15.1
Net financial investment (Net lending (+) / net borrowing (-))
-4.7
-37.0
-15.7
43.2
-14.2
14.2
less Net errors and omissions
21.2
-53.9
-3.2
30.8
-2.5
2.5
Total investment
27.0
19.8
0.9
53.0
97.9
11.7

- nil or rounded to zero (including null cells)
(a) Net saving for the Rest of world is the balance on the external income account.
(b) The statistical discrepancy is not able to be distributed amongst the sectors.


In the September quarter 2017, non-financial corporations and households invested $52.9b and $40.5b respectively. Households funded these investments mainly through gross saving ($52.9b) while non-financial corporations funded investment through a mix of gross saving ($25.7b) and net borrowing ($4.7b). The general government sector invested $13.4b and funded it through net borrowing ($15.7b) and gross saving ($2.4b).

Graph 1. Total capital formation, current prices

Graph 1 shows  Total capital formation, current prices



In original terms national investment decreased $1.3b in the September quarter 2017 to $109.6b from June quarter 2017.

Private non-financial corporations investment was $47.6b in September quarter 2017 having fallen from its peak in June quarter 2013 ($63.5b). Household investment was $40.5b in September quarter 2017, compared to $25.4b recorded in March quarter 2013.

Graph 2. Net financial investment (Net lending (+) / net borrowing (-))

Graph 2 shows Net financial investment (Net lending (+) / net borrowing (-))



During September quarter 2017, national net borrowing was $14.2b with financial corporations borrowing of $37.0b, general government borrowing $15.7b and non-financial corporations borrowing $4.7b. In contrast, households lent $43.2b to other sectors.

Net borrowing of $37.0b by financial corporations was a result of disposal of financial assets $19.0b and incurring $17.9b in liabilities. The disposal of financial assets by financial corporations was driven by settlement in derivatives assets ($25.2b), disposal of bonds ($15.1b) and one name paper ($11.8b), which was partly offset by the acquisition of equities $33.2b. Financial corporations net incurrence of liabilities was driven by an increase of net equity in reserves $27.5b and the issuance of debt securities $21.7b, which was partly offset by settlement in derivatives liabilities ($31.1b).

Net borrowing of $4.7b by non-financial corporations was a result of incurring $34.3b in liabilities and acquisition of financial assets $29.6b. Financial assets acquired were loans and placements ($6.5b), deposits ($5.8b) and equities ($4.9b). Non-financial corporations incurred liabilities through the issuance of equity ($30.7b).

Net borrowing of $15.7b by general government was a result of disposal of financial assets ($12.6b) and incurring $3.1b in liabilities. National general government withdrew $21.2b deposit assets, partly offset by acquisition of equities ($3.0b) and one name paper ($1.3b). National general government and state and local general government incurred unfunded superannuation liabilities of $1.8b and $0.8b respectively.

Households were net lenders ($43.2b) in September quarter 2017. Households acquired $29.9b in net equity in reserves of pension, of which unfunded super contributed $2.6b. Households also acquired $24.1b in deposits. Households incurred liabilities through loan borrowings ($16.6b).


NOTES

FORTHCOMING ISSUES


ISSUE (QUARTER)Release Date
December 201729 March 2018
March 201828 June 2018
June 201827 September 2018
September 201713 December 2018


CHANGES TO THIS ISSUE

There are no changes to this issue.


REVISIONS IN THIS ISSUE

This issue contains revisions to the capital accounts, financial accounts and balance sheets back to June quarter 1988, the final part of the overall historical revisions implemented throughout the Australian National Accounts in 2017. Please refer to the Feature Article in the Australian System of National Accounts, 2016-17 (cat. no. 5204.0) for specific details on the revisions, including changes to estimates within the capital accounts, and the range of improvements incorporated in the historical revisions already released.

The revisions to the financial accounts and balance sheets in this release are a result of implementation of the quality assurance work undertaken for the historical revision through reviews of compilation methods and through source data provided to the ABS. Revisions have been applied to all financial instruments and sectors for the entire time series:
To incorporate the most up to date data coming through from the financial accounts and financial balance sheets, the following tables in Australian System of National Accounts, 2016-17, (cat no 5204.0) will be re-released with this issue:
  • Table 9 - National Financial Account
  • Table 10- National Balance sheets
  • Table 11 -Balance sheet Accounts and Accumulation Accounts
  • Table 12 -Analytical Measures of National Income, Saving and Wealth
  • Table 19 - Non-Financial Corporations Financial Account
  • Table 20 - Non-Financial Corporations Balance sheet
  • Table 27 - Financial Corporations Financial Account
  • Table 28 - Financial Corporations Balance sheet
  • Table 29 - Life Insurance and Superannuation Funds
  • Table 33 - General Government Financial Account
  • Table 34 - General Government Balance sheet
  • Table 38 - Analytical Measures of Household Income, Consumption, Savings and Wealth
  • Table 40 - Household Financial Account
  • Table 41 - Household Balance sheet
  • Table 44 - External Financial Account
  • Table 41 - External Balance sheet
  • Table 59 - Consolidated Balance sheet and Accumulation Accounts


CHANGES IN FUTURE ISSUES

There are no changes to future issues.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or National accounts by email <national.accounts@abs.gov.au>.


PRIVACY POLICY

The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.