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5232.0 - Australian National Accounts: Finance and Wealth, Sep 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 18/12/2014   
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SEPTEMBER KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES

Non-financial corporations
Financial corporations
General government
Household
Total National
Rest of the world
$b
$b
$b
$b
$b
$b

Financing resources
Net saving (a)
-0.6
13.5
-15.6
33.5
30.8
15.1
plus Consumption of fixed capital
34.7
2.4
8.7
21.8
67.6
Gross saving
34.1
15.9
-6.9
55.3
98.5
15.1
plus Net capital transfers
0.6
0.0
-1.1
0.4
-0.1
0.1
plus Statistical discrepancy (b)
-
-
-
-
5.7
-
Total financing resources
34.7
15.9
-8.0
55.7
92.7
15.2
Uses of financing (Investment)
Capital formation
Gross fixed capital formation
57.0
2.5
11.5
35.0
106.1
-
plus Change in inventories
2.6
-
0.1
-0.8
1.8
-
plus Net acquisition of non-produced non-financial assets
-0.2
-
0.1
-
-0.0
-
Total capital formation
59.4
2.5
11.7
34.2
107.9
-
plus Financial investment
Acquisition of financial assets
9.3
33.4
10.0
37.6
7.3
21.9
less Incurrence of liabilities
24.5
31.3
26.3
22.7
21.9
7.3
Net financial investment (Net lending (+) / net borrowing (-))
-15.2
2.1
-16.4
14.9
-14.6
14.6
less Net errors and omissions
9.5
-11.3
3.4
-6.6
0.6
-0.6
Total investment
34.7
15.9
-8.0
55.7
92.7
15.2

- nil or rounded to zero (including null cells)
(a) Net saving for the Rest of the world is the balance on the external income account.
(b) The statistical discrepancy is not able to be distributed amongst the sectors.


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


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.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)Release Date
December 201426 March 2015
March 201525 June 2015
June 201524 September 2015
September 201517 December 2015


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:
  • from September quarter 2012 onwards, revisions are due to quality assurance reviews of the compilation of published estimates and through data providers to the ABS Survey of Financial Information, ABS Survey of International Investment and APRA administrative data sets.
  • from June 1988 onwards, there are small revisions to the sectoral capital accounts due to updated sources and methodology.


CHANGES IN FUTURE ISSUES

There are no known changes to future issues.


INQUIRIES

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