Australian Bureau of Statistics
5232.0 - Australian National Accounts: Finance and Wealth, Sep 2015 Quality Declaration
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 17/12/2015
|Page tools: Print Page Print All RSS Search this Product|
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
During September quarter 2015, non-financial corporations and households invested $52.9b and $38.5b respectively in capital formation. Non-financial corporations funded these investments mainly through net borrowing ($34.3b) and gross saving ($24.8b). Households funded their investment through gross savings ($58.7b) and remained a net lender ($28.9b) to other sectors. The general government sector invested $10.3b in capital formation funding it mainly through net borrowing of $16.2b.
Graph 1. Total capital formation, current prices
In original terms, national capital formation investment decreased $5.1b from the June quarter 2015 estimate to $104.4b in September quarter 2015. The decrease was driven by an $8.6b fall in gross fixed capital formation, which was slightly offset by a $3.4b increase in change of inventories.
Private non-financial corporations gross fixed capital formation has fallen since peaking in June quarter 2013 ($59.2b), this has been driven by decreased non-dwelling construction investment. Conversely, household sector gross fixed capital formation has continued to grow since March quarter 2014 ($30.0b), this has been driven by increased investment in dwellings.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
Source(s): Table 4. National Financial Assets and Liabilities ($ million); Table 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million); Table 14. Financial Assets and Liabilities of Financial Corporations ($ million); Table 27. Financial Assets and Liabilities of General Government ($ million); Table 33. Financial Assets and Liabilities of Households ($ million)
During September quarter 2015, national net borrowing was $18.9b, driven by non-financial corporations borrowing of $34.3b and general government borrowing of $16.2b. By contrast, the household and financial corporations sectors lent $28.9b and $2.8b to other sectors respectively.
Net borrowing of $34.3b by non-financial corporations was a result of incurring $55.3b in liabilities and acquiring $20.9b in financial assets. Private non-financial corporations incurred $54.3b in liabilities during the quarter driving increases in total liabilities of the non-financial corporation sector. The increase in liabilities of the private non-financial corporations sector was driven by issuance of equity of $30.9b coupled with loan borrowings of $23.9b. This was partially offset by maturities of long term debt securities of $5.4b. The private non-financial corporations sector drove the increase in financial assets with net acquisition of $18.5b during the quarter accruing $9.1b in other accounts receivable and acquiring $6.7b in equities.
Net borrowing of $16.2b by general government was a result of incurring $32.3b in liabilities while acquiring $16.1b in financial assets. The general government incurred liabilities primarily through issuance of Commonwealth government bonds ($24.0b). A net transaction of $2.6b in unfunded superannuation also contributed to general government liabilities. The general government acquired financial assets through other accounts receivable ($8.0b) and loans and placements ($5.6b).
Households continued to be net lenders ($28.9b) in September quarter 2015 for the 28th consecutive quarter since September quarter 2008, when they were a net borrower. Households acquired $51.5b in financial assets through increases in bank deposits ($34.7b) and net equity in reserves ($14.2b) while incurring liabilities through borrowing long term loans ($26.0b).
Financial corporations remained net lenders ($2.8b) by acquiring $78.0b in financial assets while incurring $75.2b in liabilities. The financial corporations sector acquired financial assets through loans and placements ($65.9b) driven by lending to households ($25.1), other private non-financial corporations ($19.3b) and rest of world ($15.1b). Financial corporations also acquired bonds issued by national general government ($13.6b) and securitisers ($10.3b) as well as equities issued by other private non-financial corporations ($14.5b). Financial corporations incurred liabilities through taking deposits ($48.9b), increasing net equity in reserves ($13.8b) and borrowing through the short term loans market ($8.4b).
CHANGES TO THIS ISSUE
There are no changes to this issue.
REVISIONS IN THIS ISSUE
There have been revisions to previously published aggregates due to:
CHANGES IN FUTURE ISSUES
There are no changes to future issues.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or National accounts by email <email@example.com>.
These documents will be presented in a new window.
This page last updated 21 December 2015