5232.0 - Australian National Accounts: Finance and Wealth, Jun 2018 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 27/09/2018
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JUNE KEY FIGURES
In the June quarter 2018, non-financial corporations funded their investments of $53.0b through both gross saving of $44.5b; and net borrowing of $28.3b, funded through share issuance mainly held by rest of the world. Overall the Australian economy borrowed $12.7b during the quarter, driven by the borrowings of the private non-financial sector.
Graph 1. Total capital formation, current prices
National investment increased $20.7b in June quarter 2018 to $120.2b. The increase takes national investment to its highest level, surpassing the previous peak of $118.8b in the December quarter 2017. Prior to December quarter 2017, national investment had peaked in the December quarter 2012 at $116.0b, before falling steadily due to a decline in mining investment. Growth in recent quarters has been driven by public infrastructure investment as well as improvements in business conditions and confidence for private sector corporations.
Private non-financial corporations investment was $45.7b in the June quarter 2018. Investment peaked for private non-financial corporations in the June quarter 2013, before falling to a low of $36.7b in March quarter 2017 with the decline in mining investment. Household investment was $43.2b in June quarter 2018 and has grown steadily since the $24.6b recorded in March quarter 2012, driven by dwellings.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
During June quarter 2018, national net borrowing was $12.7b, driven by the issuance of shares and other equity by private non-financial sector.
Net borrowing of $28.4b by non-financial corporations was a result of disposing of $9.3b of financial assets and incurring $19.1b in liabilities. Non-financial corporations incurred liabilities through the issuance of shares and other equity.
Net borrowing of $10.6b by financial corporations was a result of acquiring $45.2b of financial assets and incurring $55.8b in liabilities. The acquisition of financial assets by financial corporations was driven by issuance of loans and acquisition of one name paper and bonds, which were partly offset by derivative settlements. Financial corporations' net incurrence of liabilities was driven by an increase in insurance technical reserves and issuance of one name paper and bonds. These were partly offset by settlement in derivative liabilities.
Net lending of $0.4b by general government was a result of acquiring $17.8b of financial assets and incurring $17.5b in liabilities mainly through bond issuance. The financial assets primarily acquired by general government were loans and placements, and one name paper holdings. These were partly offset by divestment in bonds.
Households were net lenders in June quarter 2018. Households acquired $37.4b in net equity in reserves with $4.2b of unfunded superannuation claims. Households acquired $4.0b in shares and other equity assets and incurred liabilities through $26.4b in loan borrowings.
CHANGES TO THIS ISSUE
Following ongoing quality assurance work a number of data quality issues have been identified with Table 52. Nominal Value of Short Term Loans and Placements Market ($ million) and Table 53. Nominal Value of Long Term Loans and Placements Market ($ million). These tables will be unavailable until further notice. However, Table 45. The Short Term Loans and Placements Market ($ million) and Table 46. The Long Term Loans and Placements Market ($ million), which are on a market value basis, are available.
REVISIONS IN THIS ISSUE
There have been revisions to previously published aggregates due to:
CHANGES IN FUTURE ISSUES
There are no 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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