5232.0 - Australian National Accounts: Finance and Wealth, Mar 2016 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 30/06/2016
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MARCH KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
During March quarter 2016, non-financial corporations and households invested $42.3b and $35.7b respectively in capital formation. Non-financial corporations funded these investments mainly through gross saving ($17.0b) and net borrowing ($37.3b). Households funded their investment through gross savings ($41.1b). The general government sector invested $12.0b in capital formation, funding it through net borrowings ($14.5b) and gross saving ($1.2b).
Graph 1. Total capital formation, current prices
In original terms, national capital investment decreased $20.4b from the December quarter 2015 estimate to $92.4b in March quarter 2016. The decrease was driven by a $16.3b fall in gross fixed capital formation and a $4.1b decrease in inventories.
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 March quarter 2016, national net borrowing was $20.7b, driven by non-financial corporations borrowing of $37.3b and general government borrowing of $14.5b. By contrast, financial corporations and households lent $19.8b and $11.3b respectively to other sectors.
Net borrowing of $37.3b by non-financial corporations was a result of incurring $46.3b in liabilities while acquiring $9.0b in financial assets. Non-financial corporations net incurrence of financial liabilities ($46.3b) was driven by issuance of equity ($22.7b), loan borrowings ($16.3b) and bond issuances ($9.4b) which was slightly offset by maturities of short term debt securities (-$2.5b).
Net borrowing of $14.5b by general government was due to incurring $31.3b in liabilities while acquiring $16.8b in financial assets. National general government incurred $26.3b in liabilities driven by $22.1b in net issuances of bonds during March quarter 2016. National general government acquired $16.7b in assets through increases in deposit assets ($7.2b) and other accounts receivables ($5.9b).
Financial corporations were net lenders ($19.8b) by acquiring $31.6b in financial assets while incurring $11.8b in liabilities. The financial corporations sector acquired financial assets through net purchases of bonds issued by national general government ($20.1b), increasing loans to households ($25.4b) and other private non-financial corporations ($12.7b), deposits with the rest of world ($10.3b) and increasing equity holdings by $10.0b. These asset acquisitions were partially offset by loan repayments from rest of world (-$33.8b) coupled with derivative settlements of -$18.5b. Financial corporations incurred liabilities through taking deposits ($19.9b), increasing net equity in reserves ($17.0b) and net issuance of bonds ($6.8b). This was partially offset by maturities of one name paper issued offshore (-$23.2b) and derivative settlements of -$22.0b.
Households remained net lenders ($11.3b) in March quarter 2016. Households acquired $38.5b in financial assets through net equity in reserves ($21.4b) and increases in bank deposits ($12.6b) while incurring liabilities through loan borrowings ($24.7b).
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:
CHANGES IN FUTURE ISSUES
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