5232.0 - Australian National Accounts: Finance and Wealth, Jun 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 28/09/2017   
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JUNE 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)
3.8
1.7
5.2
4.8
15.4
6.7
plus Consumption of fixed capital
39.7
2.9
9.8
29.2
81.5
-
Gross saving
43.4
4.5
14.9
34.0
96.9
6.7
plus Net capital transfers
0.3
-
-0.8
0.3
-0.2
0.2
less Statistical discrepancy (b)
-
-
-
-
-9.9
-
Total financing resources
43.7
4.5
14.2
34.2
106.6
6.9
Uses of financing (Investment)
Capital formation
Gross fixed capital formation
50.3
3.0
22.0
41.2
116.5
-
plus Change in inventories
-2.3
-
0.2
-0.9
-3.0
-
plus Net acquisition of non-produced non-financial assets
-0.9
-
0.7
0.1
-0.0
-
Total capital formation
47.1
3.0
22.9
40.4
113.5
-
plus Financial investment
Acquisition of financial assets
26.8
83.7
18.7
63.3
21.9
25.8
less Incurrence of liabilities
22.4
91.8
22.1
60.0
25.8
21.9
Net financial investment (Net lending (+) / net borrowing (-))
4.4
-8.1
-3.5
3.2
-3.9
3.9
less Net errors and omissions
7.7
-9.6
5.1
9.4
2.9
-2.9
Total investment
43.7
4.5
14.3
34.2
106.6
6.9

- 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 June quarter 2017, non-financial corporations and households invested $47.1b and $40.4b respectively. Both non-financial corporations and households funded these investments mainly through gross saving $43.4b and $34.0b respectively. The general government sector invested $22.9b and funded it through gross saving ($14.9b) and net borrowing ($3.5b).

Graph 1. Total capital formation, current prices

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


In original terms national investment increased $15.6b in the June quarter 2017 to $113.5b from the March quarter 2017 estimate.

Private non-financial corporations investment was $40.5b in June quarter 2017 having fallen from its peak in June quarter 2013 ($63.1b). Household investment was $40.4b in June quarter 2017, compared to $25.8b 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 June quarter 2017, national net borrowing was $3.9b with financial corporations borrowing of $8.1b. General government borrowed $3.5b. By contrast, non-financial corporations and households lent $4.4b and $3.2b to other sectors respectively.

Net borrowing of $8.1b by financial corporations was a result of incurring $91.8b in liabilities and acquisition of financial assets ($83.7b). Financial corporations net incurrence of liabilities was driven by an increase of net equity in reserves ($55.1b), issuance of debt securities ($14.1b), loans and placements borrowing ($13.8b) and acceptance of deposits ($11.6b). The net acquisition of financial assets by financial corporations was driven by an increase in loans and placements ($50.0b), acquisition of bonds ($21.1b) and acquisition of deposits assets ($10.5b).

Non-financial corporations were net lenders ($4.4b), acquiring $26.8b in financial assets while incurring $22.4b in liabilities. Financial assets acquired were deposits ($7.8b), offset by a repayment of loans ($2.1b). Non-financial corporations incurred liabilities through issuances of equity ($14.7b), incurrence of other accounts payable ($6.6b) and loan borrowing ($5.0b), offset by repayments of bills of exchange ($1.9b) and bonds redemption ($1.5b).

Net borrowing of $3.5b by general government was a result of incurring $22.1b in liabilities and acquisition of financial assets ($18.7b). National general government borrowed $18.0b through bonds issuances while increasing assets through the acquisition of deposits $16.8b and holding $6.2b of one name paper. During the quarter state and local general government acquired loan and placement assets of $8.4b while disposing of $9.3b equity assets. National general government and state and local general government incurred unfunded superannuation liabilities of $2.5b and $0.8b respectively.

Households were net lenders ($3.2b) in June quarter 2017. Households acquired $58.0b in net equity in reserves of pension, of which unfunded super contributed $3.2b. Households incurred liabilities through loan borrowings ($36.7b) and other accounts payable ($23.0b).


NOTES

FORTHCOMING ISSUES


ISSUE (QUARTER)Release Date
September 201714 December 2017
December 201729 March 2018
March 201828 June 2018
June 201827 September 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 June 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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