5232.0 - Australian National Accounts: Finance and Wealth, Mar 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 29/06/2017 Released Today  
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MARCH 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)
-12.2
15.9
1.5
7.7
13.0
3.5
plus Consumption of fixed capital
39.1
2.8
9.6
28.8
80.3
-
Gross saving
26.9
18.7
11.2
36.5
93.3
3.5
plus Net capital transfers
0.4
-
-0.8
0.2
-0.1
0.1
less Statistical discrepancy (b)
-
-
-
-
-0.1
-
Total financing resources
27.3
18.7
10.4
36.7
93.2
3.7
Uses of financing (Investment)
Capital formation
Gross fixed capital formation
44.2
2.7
13.8
36.3
97.0
-
plus Change in inventories
-0.5
-
-
0.4
-0.1
-
plus Net acquisition of non-produced non-financial assets
-0.2
-
0.1
-
-
-
Total capital formation
43.6
2.7
13.8
36.7
96.9
-
plus Financial investment
Acquisition of financial assets
-1.3
1.3
21.4
27.7
-35.6
-30.1
less Incurrence of liabilities
13.6
-5.3
18.5
27.8
-30.1
-35.6
Net financial investment (Net lending (+) / net borrowing (-))
-15.0
6.6
2.9
-0.1
-5.5
5.5
less Net errors and omissions
1.4
-9.4
6.4
-
-1.8
1.8
Total investment
27.3
18.7
10.4
36.7
93.2
3.7

- 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 March quarter 2017, non-financial corporations and households invested $44.2b and $36.3b respectively. Non-financial corporations funded these investments through gross saving ($26.9b) and net borrowing ($15.0b). Households funded their investment through gross saving ($36.5b). The general government sector invested $13.8b and funded it through gross savings ($11.2b).

Graph 1. Total capital formation, current prices
Graph Image for Graph 1. Total capital formation, current prices



In original terms national investment decreased $14.3b in the March quarter 2017 to $97.0b from the December quarter 2016 estimate.

Private non-financial corporations gross fixed capital formation has decreased to $38.7b in March quarter 2017 after falling from its peak in June quarter 2013 ($61.7b). Household sector gross fixed capital formation was $36.3b in March quarter 2017, compared to $25.6b recorded in March quarter 2013.

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


During March quarter 2017, national net borrowing was $5.5b with non-financial corporations borrowing of $15.0b. By contrast, financial corporations and general government lent $6.6b and $2.9b respectively to other sectors.

Net borrowing of $15.0b by non-financial corporations was a result of incurring $13.6b in liabilities and disposal of financial assets ($1.3b). Non-financial corporations net incurrence of liabilities was driven by issuance of equity ($12.3b). The net disposal of financial assets by non-financial corporations was driven by a reduction in other accounts receivable ($3.9b) and a disposal of bonds ($2.2b), which were partially offset by acquisition of loans ($2.7b) and equities ($2.2b).

Financial corporations were net lenders ($6.6b), acquiring $1.3b in financial assets while reducing $5.3b in liabilities. Financial assets acquired were one name paper ($15.3b) and bonds ($15.6b). These asset acquisitions were offset by derivative settlements ($31.4b). Financial corporations reduced liabilities through the settlement of derivative contracts ($32.4b) and the repayment of bond liabilities ($11.2b), this was offset by an increase in net equity in reserves of $17.1b and acceptance of deposits ($13.8b).

Net lending of $2.9b by general government was due to the acquisition of financial assets ($21.4b) while incurring $18.5b in liabilities. National general government acquired $15.4b in financial assets during the quarter mainly through deposits ($8.0b) and other accounts receivable ($7.3b). During the quarter they issued $17.2b of bonds contributing to the increase in their liabilities. State and local general government acquired loan and placement assets of $5.7b.

Households remained net borrowers ($0.1b) in March quarter 2017. Households acquired $27.7b in financial assets through bank deposits ($10.7b) and increases net equity in reserves of pension funds ($19.5b). Households incurred liabilities through loan borrowings ($21.3b) and other accounts payable ($7.1b).


NOTES

FORTHCOMING ISSUES


ISSUE (QUARTER)Release Date
June 201728 September 2017
September 201714 December 2017
December 201729 March 2018
March 201828 June 2018


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:
  • Quality assurance reviews of compilation methodology (affecting the series after March quarter 2015) in addition to amendments to data collected in the ABS Survey of Financial Information, ABS Survey of International Investment and to data derived from Australian Prudential Regulation Authority (APRA) administrative data sets.
  • Revisions to the sectoral capital accounts are due to more up-to-date being incorporated and concurrent seasonal adjustment.


CHANGES IN FUTURE ISSUES

There are no changes to future issues.


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