As table 19.15 shows, new capital expenditure by private sector businesses in the manufacturing industry rose slightly (by 2.6%) between 1998-99 and 1999-2000 following a fall of almost 15% between 1997-98 and 1998-99. Five of the nine manufacturing subdivisions experienced an increase in new capital expenditure. Largest percentage rises were for Wood and paper product manufacturing (by 26%), Petroleum, coal, chemical and associated product manufacturing (by 19%) and Machinery and equipment manufacturing (by 14%). Largest percentage falls were for Textile, clothing, footwear and leather manufacturing (by 26%) and Metal product manufacturing (by 24%).
Comparing private new capital expenditure levels in 1999-2000 with those of two years earlier shows lower levels in seven of the nine manufacturing subdivisions. Largest decreases were in Non-metallic mineral product manufacturing (by 46%), Textile, clothing, footwear and leather manufacturing (by 26%), Machinery and equipment manufacturing (by 28%) and Other manufacturing (by 27%). The only increases were for Petroleum, coal, chemical and associated product manufacturing (by 13%) and Wood and paper product manufacturing (by 9%).
19.15 PRIVATE NEW CAPITAL EXPENDITURE IN MANUFACTURING INDUSTRY |
|
Industry subdivision | 1997-98
$m | 1998-99
$m | 1999-2000
$m |
|
Food, beverage and tobacco manufacturing | 2,443 | 2,088 | 2,221 |
Textile, clothing, footwear and leather manufacturing | 289 | 263 | 196 |
Wood and paper product manufacturing | 906 | 786 | 987 |
Printing, publishing and recorded media | 796 | 803 | 782 |
Petroleum, coal, chemical and associated product manufacturing | 1,595 | 1,512 | 1,801 |
Non-metallic mineral product manufacturing | 870 | 499 | 469 |
Metal product manufacturing | 1,666 | 1,941 | 1,482 |
Machinery and equipment manufacturing | 2,130 | 1,335 | 1,524 |
Other manufacturing | 301 | 209 | 221 |
Total manufacturing | 10,996 | 9,435 | 9,685 |
|
Source: Private New Capital Expenditure, Australia, Actual and Expected Expenditure (5625.0). |