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JUNE KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
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
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 $25.8b recorded in March quarter 2013.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
Source(s): Table 4. National Financial Assets and Liabilities ($ 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 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).
CHANGES TO THIS ISSUE
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REVISIONS IN THIS ISSUE
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CHANGES IN FUTURE ISSUES
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