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SEPTEMBER KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
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
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 $1.1b.
Graph 2. Net financial investment (net lending (+) / net borrowing (-))
Source(s): Table 4. National Financial Assets and Liabilities ($ 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 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.
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:
CHANGES IN FUTURE ISSUES
There are no known changes to future issues.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or National accounts by email <email@example.com>.
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