5232.0 - Australian National Accounts: Finance and Wealth, Dec 2018 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/03/2019
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DECEMBER KEY FIGURES
AUSTRALIA’S NATIONAL INVESTMENT REACHES RECORD HIGH
National investment increased $9.2b in December quarter 2018 to a record high of $123.5b. The upwards trend since September quarter 2016 has been led by public infrastructure investment.
Graph 1. Total capital formation, current prices
Private non-financial corporations invested $48.5b over the quarter, up $1.6b from the previous quarter. Growth continues to be supported by investment in machinery and equipment, which is partly offsetting the decline in mining investment as significant LNG projects near completion.
Households invested $45.9b, up $3.2b from the previous quarter. The increase was driven by a build-up of farm inventories, typical for this time of the year. Dwelling investment, the driver of growth in household investment since 2012, experienced a weak result off the back of declines in residential approvals.
AUSTRALIA CONTINUES TO BORROW AS INVESTMENT EXCEEDS SAVING
National net borrowing was $10.1b, driven by rest of the world holding short term debt securities issued by banks, settling their derivatives contracts with banks and paying off their short term bank loans.
Non-financial corporations funded their investments through $54.0b of gross saving and $11.2b bank loans.
Households lent $9.9b during the quarter due to their acquisition of net equity in reserves of pension funds (superannuation) and deposit assets being greater than loan borrowings.
State and local general government drove the public infrastructure investment during the quarter, funded by gross saving and borrowing. Borrowing occurred due to significant withdrawal of their deposit assets and increase in loan borrowing.
Graph 2. Net financial investment (net lending (+) / net borrowing (-))
CHANGES TO THIS ISSUE
Following ongoing quality assurance work a number of data quality issues have been identified with Table 52. Nominal Value of Short Term Loans and Placements Market ($ 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 <firstname.lastname@example.org>.
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