5232.0 - Australian National Accounts: Finance and Wealth, Sep 2017 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 20/12/2017
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SEPTEMBER KEY FIGURES
FINANCING RESOURCES AND INVESTMENT, ORIGINAL, CURRENT PRICES
In the September quarter 2017, non-financial corporations and households invested $52.9b and $40.5b respectively. Households funded these investments mainly through gross saving ($52.9b) while non-financial corporations funded investment through a mix of gross saving ($25.7b) and net borrowing ($4.7b). The general government sector invested $13.4b and funded it through net borrowing ($15.7b) and gross saving ($2.4b).
Graph 1. Total capital formation, current prices
In original terms national investment decreased $1.3b in the September quarter 2017 to $109.6b from June quarter 2017.
Private non-financial corporations investment was $47.6b in September quarter 2017 having fallen from its peak in June quarter 2013 ($63.5b). Household investment was $40.5b in September quarter 2017, compared to $25.4b recorded in March quarter 2013.
Graph 2. Net financial investment (Net lending (+) / net borrowing (-))
During September quarter 2017, national net borrowing was $14.2b with financial corporations borrowing of $37.0b, general government borrowing $15.7b and non-financial corporations borrowing $4.7b. In contrast, households lent $43.2b to other sectors.
Net borrowing of $37.0b by financial corporations was a result of disposal of financial assets $19.0b and incurring $17.9b in liabilities. The disposal of financial assets by financial corporations was driven by settlement in derivatives assets ($25.2b), disposal of bonds ($15.1b) and one name paper ($11.8b), which was partly offset by the acquisition of equities $33.2b. Financial corporations net incurrence of liabilities was driven by an increase of net equity in reserves $27.5b and the issuance of debt securities $21.7b, which was partly offset by settlement in derivatives liabilities ($31.1b).
Net borrowing of $4.7b by non-financial corporations was a result of incurring $34.3b in liabilities and acquisition of financial assets $29.6b. Financial assets acquired were loans and placements ($6.5b), deposits ($5.8b) and equities ($4.9b). Non-financial corporations incurred liabilities through the issuance of equity ($30.7b).
Net borrowing of $15.7b by general government was a result of disposal of financial assets ($12.6b) and incurring $3.1b in liabilities. National general government withdrew $21.2b deposit assets, partly offset by acquisition of equities ($3.0b) and one name paper ($1.3b). National general government and state and local general government incurred unfunded superannuation liabilities of $1.8b and $0.8b respectively.
Households were net lenders ($43.2b) in September quarter 2017. Households acquired $29.9b in net equity in reserves of pension, of which unfunded super contributed $2.6b. Households also acquired $24.1b in deposits. Households incurred liabilities through loan borrowings ($16.6b).
CHANGES TO THIS ISSUE
There are no changes to this issue.
REVISIONS IN THIS ISSUE
This issue contains revisions to the capital accounts, financial accounts and balance sheets back to June quarter 1988, the final part of the overall historical revisions implemented throughout the Australian National Accounts in 2017. Please refer to the Feature Article in the Australian System of National Accounts, 2016-17 (cat. no. 5204.0) for specific details on the revisions, including changes to estimates within the capital accounts, and the range of improvements incorporated in the historical revisions already released.
The revisions to the financial accounts and balance sheets in this release are a result of implementation of the quality assurance work undertaken for the historical revision through reviews of compilation methods and through source data provided to the ABS. Revisions have been applied to all financial instruments and sectors for the entire time series:
To incorporate the most up to date data coming through from the financial accounts and financial balance sheets, the following tables in Australian System of National Accounts, 2016-17, (cat no 5204.0) will be re-released with this issue:
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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