Private New Capital Expenditure and Expected Expenditure, Australia

Latest release

Quarterly statistics about actual and expected private new capex investment spend on buildings and equipment by industry

Reference period
September 2022
Released
1/12/2022
  • Next Release 23/02/2023
    Private New Capital Expenditure and Expected Expenditure, Australia, December 2022
  • Next Release 1/06/2023
    Private New Capital Expenditure and Expected Expenditure, Australia, March 2023
  • Next Release 31/08/2023
    Private New Capital Expenditure and Expected Expenditure, Australia, June 2023
  • View all releases

Key statistics

  • Total new capital expenditure fell by 0.6%
  • Buildings and structures rose by 0.5%
  • Equipment, plant and machinery fell by 1.6%
  • Estimate 4 for 2022-23 is $155.7b. This is 5.6% higher than Estimate 3 for 2022-23
  Sep Qtr 22Jun Qtr 22 to Sep Qtr 22Sep Qtr 21 to Sep Qtr 22
  $m% change% change
Seasonally adjusted(a)   
 Total new capital expenditure33878-0.61.7
 Buildings and structures175710.51.4
 Equipment, plant and machinery16308-1.62.2
Trend(a)   
 Total new capital expenditure33963-0.21.1
 Buildings and structures17503-0.8-0.1
 Equipment, plant and machinery164690.52.9

a. In volume terms
 

Notes on release

Trend series reinstated in September quarter 2022

Chain volume estimates re-referenced to 2020-21

Each September quarter, the reference and base year for chain volume estimates for the Survey of Private New Capital Expenditure are updated. A new base year, 2020-21, has been introduced into the chain volume estimates which has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2020-21. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the level of but not the movements in chain volume estimates.

Review of trend suspension

In early 2020 the ABS suspended trend series, in addition to adopting forward factors to produce seasonally adjusted series. The trend estimate indicates the medium to long direction of a time series. To estimate the trend, the effect of significant events like disruptions associated with COVID-19 are assigned to either the trend or irregular components of a time series. The rationale for suspending trend series was that it was unknown whether the impacts from COVID-19 would be short or medium to long-term, and therefore there was high probability of needing to significantly revise initial assessments of the impacts of COVID-19 on the trend.

The trend series for New Capital Expenditure has been reviewed and been reinstated.

Over the last two years, the impacts of COVID-19 on New Capital Series have not caused multiple abrupt changes in the series level in short succession, and so it is appropriate to describe a trend level through the past two years. As a result, New Capital Expenditure will also be publishing a trend over the previous two years for relevant series.

New capital expenditure in seasonally adjusted volume terms

Total new capital expenditure

  • The trend estimate for total new capital expenditure fell 0.2%

  • The seasonally adjusted estimate for total new capital expenditure fell 0.6% 

a. Trend break added to 'Total new capital expenditure ' trend series for June 2020, Dec 2018, Sep 2015, Sep 2008, Mar 2007 and Jun 2003.

Buildings and structures

  • The trend estimate for buildings and structures fell 0.8% 

  • The seasonally adjusted estimate for buildings and structures rose 0.5%

a. Trend break added to 'Total new capital expenditure ' trend series for June 2020, Dec 2018, Sep 2015, Sep 2008, Mar 2007 and Jun 2003.

Equipment and machinery

  • The trend estimate for equipment, plant and machinery rose 0.5% 

  • The seasonally adjusted estimate for equipment, plant and machinery fell 1.6% 

Mining and non-mining

  • The trend estimate for Mining fell 1.8%
  • The seasonally adjusted estimate for Mining fell 5.1% 

 

  • The trend estimate for Non-mining rose 0.4%
  • The seasonally adjusted estimate for Non-mining rose 1.4%

a. Trend break added to 'Total non-mining capital expenditure ' trend series for Dec 2018, Sep 2015, Sep 2008, Mar 2007 and Jun 2003.

Financial years at current prices

Timing and composition

The graphs below show the seven estimates of actual and expected expenditure for each financial year.

The timing and composition of these estimates are as follows:

Estimate Based on data reported at:COMPOSITION OF ESTIMATE
Data on long-term expected expenditureData on Short-term expected expenditureData on actual expenditure

1.

Jan-Feb, 5-6 months before period begins

12 months

Nil

Nil

2.

Apr-May, 2-3 months before period begins

12 months

Nil

Nil

3.

Jul-Aug, at beginning of period

6 months

6 months

Nil

4.

Oct-Nov, 3-4 months into period

6 months

3 months

3 months

5.

Jan-Feb, 6-7 months into period

Nil

6 months

6 months

6.

Apr-May, 9-10 months into period

Nil

3 months

9 months

7.

Jul-Aug, at end of period

Nil

Nil

12 months

 

 

Total capital expenditure

  • Estimate 4 for 2022-23 is $155.7b
  • This is 5.6% higher than Estimate 3 for 2022-23
  • This is 12.4% higher than Estimate 4 for 2021-22

Buildings and structures

  • Estimate 4 for 2022-23 is $89.2b

  • This is 2.3% higher than Estimate 3 for 2022-23

  • This is 13.5% higher than Estimate 4 for 2021-22

Equipment, plant and machinery

  • Estimate 4 for 2022-23 is $66.5b

  • This is 10.4% higher than Estimate 3 for 2022-23

  • This is 10.9% higher than Estimate 4 for 2021-22

Mining

  • Estimate 4 for 2022-23 is $46.8b

  • This is 3.0% higher than Estimate 3 for 2022-23

  • This is 11.0% higher than Estimate 4 for 2021-22

Non-mining

  • Estimate 4 for 2022-23 is $108.9b

  • This is 6.8% higher than Estimate 3 for 2022-23

  • This is 12.9% higher than Estimate 4 for 2021-22

Detailed industry movements by asset type

Industry chain volume seasonally adjusted total capex
Jun Qtr 22 to Sep Qtr 22Sep Qtr 21 to Sep Qtr 22
% change% change
Mining-5.11.7
Manufacturing3.39.1
Electricity, Gas, Water and Waste5.04.5
Construction4.29.8
Wholesale Trade-1.3-11.4
Retail Trade-12.3-11.5
Accommodation and Food Services-10.47.6
Transport, Postal and Warehousing7.011.2
Information Media and Telecommunications6.90.7
Financial and Insurance Services-6.9-5.5
Rental, Hiring and Real Estate-2.85.9
Professional, Scientific and Technical Services-9.3-1.4
Administrative and Support Services-7.4-13.5
Education and Training4.63.7
Health Care and Social Assistance10.1-8.2
Arts and Recreation Services-1.11.9
Other Services32.2-26.5
Industry chain volume buildings and structures
Jun Qtr 22 to Sep Qtr 22Sep Qtr 21 to Sep Qtr 22
% change% change
Mining-5.3-2.0
Manufacturing3.221.9
Electricity, Gas, Water and Waste7.06.3
Construction-58.264.0
Wholesale Trade-7.7-15.4
Retail Trade-9.5-27.0
Accommodation and Food Services-21.84.1
Transport, Postal and Warehousing13.01.8
Information Media and Telecommunications8.42.3
Financial and Insurance Services-33.3-51.2
Rental, Hiring and Real Estate4.612.8
Professional, Scientific and Technical Services-25.8-5.0
Administrative and Support Services-6.8-16.3
Education and Training13.48.3
Health Care and Social Assistance17.53.4
Arts and Recreation Services6.724.5
Other Services-27.9-29.2
Industry chain volume equipment and machinery
Jun Qtr 22 to Sep Qtr 22Sep Qtr 21 to Sep Qtr 22
% change% change
Mining-4.911.7
Manufacturing3.35.1
Electricity, Gas, Water and Waste-7.7-7.2
Construction7.59.1
Wholesale Trade0.8-10.1
Retail Trade-13.1-5.6
Accommodation and Food Services-2.79.5
Transport, Postal and Warehousing3.118.8
Information Media and Telecommunications2.0-5.3
Financial and Insurance Services-1.19.4
Rental, Hiring and Real Estate-14.6-5.4
Professional, Scientific and Technical Services-6.9-1.0
Administrative and Support Services-7.9-13.4
Education and Training-21.5-12.8
Health Care and Social Assistance0.8-21.2
Arts and Recreation Services-7.4-13.3
Other Services64.2-26.0

State movements

State chain volume seasonally adjusted total capex
Jun Qtr 22 to Sep Qtr 22Sep Qtr 21 to Sep Qtr 22
% change% change
New South Wales5.37.7
Victoria-6.4-0.1
Queensland-2.43.3
South Australia5.4-3.6
Western Australia-7.6-4.7
Tasmania17.77.6
Northern Territory3.99.3
Australian Capital Territory-8.90.3

Data downloads

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Data files

Data Explorer datasets

Caution: Data in Data Explorer is currently released after the 11:30am release on the ABS website.

Please check the reference period when using Data Explorer.

Private New Capital Expenditure and Expected Expenditure - estimates of actual and expected new capital expenditure by private businesses for selected industries in Australia

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Previous catalogue number

This release previously used catalogue number 5625.0.

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