5232.0 - Australian National Accounts: Finance and Wealth, Mar 2018 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/06/2018
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MARCH KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
In the March quarter 2018, non-financial corporations funded their investments of $43.8b through both gross saving of $22.2b; and net borrowing of $21.6b, funded through both loan borrowing from banks and rest of the world, and share issuance mainly held by rest of the world. Overall the Australian economy borrowed $7.4b during the quarter, driven by the borrowings of the private non-financial sector.
Graph 1. Total capital formation, current prices
National investment decreased $19.4b in March quarter 2018 to $98.5b. The fall follows national investment reaching its highest level of $118.0b in the December quarter 2017. National investment previously peaked in the December quarter 2012 at $116.0bn, before falling steadily due to a decline in mining investment. Growth in recent quarters was driven by both the private and public sector.
Private non-financial corporations investment was $38.1b in the March quarter 2018. It has recovered from a low of $36.7b in March quarter 2017, following a steady decline since reaching its peak in June quarter 2013. Household investment was $37.9b in March quarter 2018 and has grown steadily since the $24.6b recorded in March quarter 2012.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
During March quarter 2018, national net borrowing was $7.4b, driven by the borrowings of the private non-financial sector.
Net borrowing of $32.4b by non-financial corporations was a result of acquiring $9.4b of financial assets and incurring $41.8b in liabilities. Financial assets acquired were deposits, equities, and bonds. Non-financial corporations incurred liabilities through long term loan borrowing.
Net lending of $1.8b by financial corporations was a result of acquiring $68.6b of financial assets and incurring $66.9b in liabilities. The acquisition of financial assets by financial corporations was driven by issuance of loans and acquisition of equities, which were partially offset by derivative settlements. Financial corporations' net incurrence of liabilities was driven by an increase in insurance technical reserves and bond issuance. These were partially offset by settlement in derivative liabilities.
Net lending of $1.6b by general government was a result of acquiring $13.7b of financial assets and incurring $12.0b in liabilities. The financial assets primarily acquired by general government were account receivables, loans and placements, and equities. These were partially offset by divestment in debt securities.
Households were net lenders in March quarter 2018. Households acquired $35.9b in net equity in reserves, of which unfunded super contributed $3.1b. Households acquired $9.0b in deposits assets and incurred liabilities through $24.3b in loan borrowings.
CHANGES TO THIS ISSUE
Following ongoing quality assurance work a number of data quality issues have been identified with Table 52. Nominal Value of Short Term Loans and Placements Market ($ 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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