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SEPTEMBER KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
During September quarter 2014, non-financial corporations and general government invested $59.4b and $11.7b respectively in capital formation. Non-financial corporations funded these investments mainly through gross saving ($34.1b) and net borrowing ($15.2b). General government funded their investment through net borrowing, which was $16.4b for the quarter. By contrast, household investment in capital formation ($34.2b) was less than their available financing resources for the quarter ($55.7b) therefore lending $14.9b to other sectors.
Graph 1. Total capital formation, current prices
In original terms, national capital formation investment decreased $3.6b from the June quarter 2014 estimate to reach a total of $107.9b in September quarter 2014. The decline was driven by a decrease in gross fixed capital formation of $4.8b by the general government sector. This was partly offset by an increase in gross fixed capital formation by the household sector of $1.0b. The decline in investment of gross fixed capital formation by general government was driven by state and local general government (-$3.8b) and national general government (-$1.0b). The investment by the household sector was driven by investment in dwellings of $1.1b.
Graph 2. Net financial investment (net lending (+) / net borrowing (-))
Source(s): Table 4. National Financial Assets and Liabilities ($ 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 2014, national net borrowing was $14.6b, driven mainly by general government borrowing of $16.4b and non-financial corporations borrowing of $15.2b. By contrast, the household and financial corporations sectors lent $14.9b and $2.1b to other sectors respectively.
The borrowing of $16.4b by general government was a result of incurring $26.3b in liabilities and acquiring $10.0b in financial assets. The $26.3b in liabilities was driven mainly by $18.8b issuance of bonds by the national general government and $2.5b loan borrowing by state and local government from their central borrowing authorities. The $10.0b acquisition of financial assets was driven by the $5.1b of accounts receivable by national general government and $4.3b of bank deposits of state and local general government.
The borrowing of $15.2b by non-financial corporations was a result of incurring $24.5b in liabilities and acquiring $9.3b in financial assets. The $24.5b in liabilities was driven mainly by other private non-financial corporations equity issuance of $21.3b and loan borrowing of $11.3. The $9.3b acquisition of financial assets was driven by $7.3b of accounts receivable and $5.4b bank deposits of other private non-financial corporations.
The net lending of $14.9b by the household sector was a result of acquiring $37.6b in financial assets and incurring $22.7b in liabilities. The $37.6b in acquisition of financial assets was driven mainly by $24.6b in bank deposits and $14.7b in insurance technical reserves in superannuation funds (pension funds), and the incurrence of liabilities was driven by $18.5b loan borrowing.
CHANGES TO THIS ISSUE
From this issue on, this product will be referred to as Australian National Accounts: Finance and Wealth (cat. no. 5232.0), [Formerly: Australian National Accounts: Financial Accounts]. This issue includes the removal of the PDF file and expansion of time series spreadsheets. See Information paper: Product changes to the Financial Accounts: Finance and Wealth, 2014 (cat. no. 5232.0.55.004) for information regarding changes to this issue.
REVISIONS IN THIS ISSUE
There have been revisions to previously published aggregates:
CHANGES IN FUTURE ISSUES
There are no known changes to future issues.
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