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JUNE KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
During June quarter 2016, non-financial corporations and households invested $47.3b and $38.7b respectively in capital formation. Non-financial corporations funded these investments through gross saving ($41.3b) and net borrowing ($11.9b). Households funded their investment through gross saving ($36.5b). The general government sector invested $19.4b in capital formation, funding it through net borrowings ($7.5b) and gross saving ($8.5b).
Graph 1. Total capital formation, current prices
In original terms, national capital investment increased $16.1b from the March quarter 2016 estimate to $108.0b in June quarter 2016. The increase was driven by a $15.1b increase in gross fixed capital formation.
Private non-financial corporations gross fixed capital formation has fallen since peaking in June quarter 2013 ($59.3b), this has been driven by decreased non-dwelling construction investment. Conversely, household sector gross fixed capital formation has continued to grow since March quarter 2013 ($26.8b), this has been driven by increased investment in dwellings.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
Source(s): Table 4. National Financial Assets and Liabilities ($ 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 June quarter 2016, national net borrowing was $14.2b, driven by non-financial corporations borrowing of $11.9b and general government borrowing of $7.5b. By contrast, households lent $5.3b to other sectors.
Net borrowing of $11.9b by non-financial corporations was a result of incurring $33.2b in liabilities while acquiring $21.3b in financial assets. Non-financial corporations net incurrence of financial liabilities was driven by issuance of equity ($22.8b) and loan borrowings ($13.2b). Non-financial corporations acquired assets through bank deposits ($10.6b) and other accounts receivables from rest of world ($8.8b).
Net borrowing of $7.5b by general government was due to incurring $4.0b in liabilities while disposing $3.6b in financial assets. National general government incurred $5.7b in liabilities, driven by $5.8b in net issuances of bonds, while disposing of $0.5b in financial assets.
Financial corporations were net borrowers ($0.1b), incurring $31.2b in liabilities while acquiring $31.1b in financial assets. Financial corporations incurred liabilities by accepting deposits ($30.9b) and increasing net equity in reserves ($29.7b). The increase in liabilities was partially offset by derivative settlements ($39.1b). Financial assets were acquired by increasing loans to households ($31.7b) and the rest of world ($7.1b) coupled with purchasing bonds issued by securitisers ($10.6b) and national general government ($6.2b). These asset acquisitions were partially offset by derivative settlements with the rest of world (-$30.0b).
Households remained net lenders ($5.3b) in June quarter 2016. Households acquired $44.7b in financial assets through increases insurance technical reserves ($33.7b) and bank deposits ($9.2b). Households incurred liabilities through loan borrowings ($30.3b).
CHANGES TO THIS ISSUE
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REVISIONS IN THIS ISSUE
There have been revisions to previously published aggregates due to:
CHANGES IN FUTURE ISSUES
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