|Page tools: Print Page Print All RSS Search this Product|
MARCH KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
During March quarter 2016, non-financial corporations and households invested $42.3b and $35.7b respectively in capital formation. Non-financial corporations funded these investments mainly through gross saving ($17.0b) and net borrowing ($37.3b). Households funded their investment through gross savings ($41.1b). The general government sector invested $12.0b in capital formation, funding it through net borrowings ($14.5b) and gross saving ($1.2b).
Graph 1. Total capital formation, current prices
In original terms, national capital investment decreased $20.4b from the December quarter 2015 estimate to $92.4b in March quarter 2016. The decrease was driven by a $16.3b fall in gross fixed capital formation and a $4.1b decrease in inventories.
Private non-financial corporations gross fixed capital formation has fallen since peaking in June quarter 2013 ($59.3b), this has been driven by decreased non-dwelling construction investment. Conversely, household sector gross fixed capital formation has continued to grow since March quarter 2013 ($26.8b), this has been driven by increased investment in dwellings.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
Source(s): Table 4. National Financial Assets and Liabilities ($ 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 March quarter 2016, national net borrowing was $20.7b, driven by non-financial corporations borrowing of $37.3b and general government borrowing of $14.5b. By contrast, financial corporations and households lent $19.8b and $11.3b respectively to other sectors.
Net borrowing of $37.3b by non-financial corporations was a result of incurring $46.3b in liabilities while acquiring $9.0b in financial assets. Non-financial corporations net incurrence of financial liabilities ($46.3b) was driven by issuance of equity ($22.7b), loan borrowings ($16.3b) and bond issuances ($9.4b) which was slightly offset by maturities of short term debt securities (-$2.5b).
Net borrowing of $14.5b by general government was due to incurring $31.3b in liabilities while acquiring $16.8b in financial assets. National general government incurred $26.3b in liabilities driven by $22.1b in net issuances of bonds during March quarter 2016. National general government acquired $16.7b in assets through increases in deposit assets ($7.2b) and other accounts receivables ($5.9b).
Financial corporations were net lenders ($19.8b) by acquiring $31.6b in financial assets while incurring $11.8b in liabilities. The financial corporations sector acquired financial assets through net purchases of bonds issued by national general government ($20.1b), increasing loans to households ($25.4b) and other private non-financial corporations ($12.7b), deposits with the rest of world ($10.3b) and increasing equity holdings by $10.0b. These asset acquisitions were partially offset by loan repayments from rest of world (-$33.8b) coupled with derivative settlements of -$18.5b. Financial corporations incurred liabilities through taking deposits ($19.9b), increasing net equity in reserves ($17.0b) and net issuance of bonds ($6.8b). This was partially offset by maturities of one name paper issued offshore (-$23.2b) and derivative settlements of -$22.0b.
Households remained net lenders ($11.3b) in March quarter 2016. Households acquired $38.5b in financial assets through net equity in reserves ($21.4b) and increases in bank deposits ($12.6b) while incurring liabilities through loan borrowings ($24.7b).
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 <firstname.lastname@example.org>.
These documents will be presented in a new window.