Latest release

Private New Capital Expenditure and Expected Expenditure, Australia

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

Reference period
September 2020
Released
26/11/2020
Future releases
  • Next Release 25/02/2021
    Private New Capital Expenditure and Expected Expenditure, Australia, December 2020
  • Next Release 27/05/2021
    Private New Capital Expenditure and Expected Expenditure, Australia, March 2021
  • Next Release 26/08/2021
    Private New Capital Expenditure and Expected Expenditure, Australia, June 2021
  • View all releases

Key statistics

  • Total new capital expenditure fell by -3.0% in the September quarter 2020.
  • Buildings and structures fell by -3.7% in the September quarter 2020.
  • Equipment, plant and machinery fell by -2.2% in the September quarter 2020.
  • Estimate 4 for 2020-21 is $104,984m. This is 6.3% higher than Estimate 3 for 2020-21.
  Sep Qtr 20Jun Qtr 20 to Sep Qtr 20Sep Qtr 19 to Sep Qtr 20
  $m% change% change
Seasonally adjusted(a)   
 Total new capital expenditure25 850-3.0-13.8
 Buildings and structures13 760-3.7-15.0
 Equipment, plant and machinery12 090-2.2-12.3
a. In volume terms
 

Survey impact and changes

Education and Training (ANZSIC Division P) and Health Care and Social Assistance (ANZSIC Division Q) industries

In 2018 the scope of the Survey of Private New Capital Expenditure was expanded to include the Education and Training (ANZSIC Division P) and Health Care and Social Assistance (ANZSIC Division Q) industries. Estimates for these industries were published separately from September quarter 2017 in original (i.e. not seasonally adjusted) current price terms and were not included in the total estimates of Private New Capital Expenditure.

Commencing with the December 2020 publication, seasonally adjusted chain volume estimates will be released for these industries (Division P and Q). These estimates will also be included in the estimates of Total Private New Capital Expenditure.

Historical estimates for these industries (i.e. estimates prior to September 2017) will be produced by modelling the data. The model will assume that Education and Health contribute a constant proportion to the relevant totals over time.

Changes to industry groupings

Currently Total Private New Capital Expenditure estimates are produced for three broad industry groups; Mining, Manufacturing and Other Selected Industries. Commencing with the December 2020 publication, the broad industry groups will be changed to Mining and Non-Mining; that is, Manufacturing and Other Selected Industries will be amalgamated.

Historical estimates will also be available on this new basis.

If you have any queries on these changes please contact the ABS client.services@abs.gov.au.

Update to seasonal adjustment methods

New Capital Expenditure uses the concurrent seasonal adjustment method, meaning that seasonal factors are re-estimated each time a new data point becomes available. If not appropriately accounted for, unusual real-world events such as COVID-19 can distort estimates calculated using this method.

From September quarter 2020 for selected series, seasonal factors will be calculated using data up to and including March quarter 2020, then projected from June quarter 2020 onwards. This approach, known as the forward factor method, ensures that the seasonal factors are not distorted for industries affected by COVID-19 impacts. Switching to the forward factor method may result in revisions in seasonal data for future quarters when the concurrent seasonal adjustment method is reinstated.

Suspension of trend series

The trend series attempts to measure underlying behaviour in business activity. In the short term, this measurement will be significantly affected by changes to regular patterns in spending that will occur during this time, as certain businesses are restricted from trading for example. If the trend estimates in this publication were to be calculated without fully accounting for this irregular event, they would likely provide a misleading view of underlying business activity.

It may be some time before the underlying trend in business activity can be accurately estimated. The New Capital Expenditure trend series have therefore been suspended and will be reinstated when more certainty emerges in the underlying trend in business activity.

Chain volume estimates re-referenced to 2018-19

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, 2018-19, 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 2018-19. 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.

New capital expenditure in seasonally adjusted volume terms

Total capital expenditure

  • Total new capital expenditure fell -3.0% in the September quarter 2020.
     
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Buildings and structures

  • Buildings and structures fell -3.7% in the September quarter 2020.
     
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Equipment and machinery

  • Equipment, plant and machinery fell -2.2% in the Septemeber quarter 2020.
     
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Financial years at current prices

Timing and construction

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

The timing and construction 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 begins12 monthsNilNil
2.Apr-May, 2-3 months before period begins12 monthsNilNil
3.Jul-Aug, at beginning of period6 months6 monthsNil
4.Oct-Nov, 3-4 months into period6 months3 months3 months
5.Jan-Feb, 6-7 months into periodNil6 months6 months
6.Apr-May, 9-10 months into periodNil3 months9 months
7.Jul-Aug, at end of periodNilNil12 months
   

Total capital expenditure

  • Estimate 4 for 2020-21 is $104,984m.
  • This is 6.3% higher than Estimate 3 for 2020-21.
     
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Buildings and structures

  • Estimate 4 for 2020-21 is $59,777m.
  • This is -0.3% lower than Estimate 3 for 2020-21.
     
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Equipment, plant and machinery

  • Estimate 4 for 2020-21 is $45,206m.
  • This is 16.6% higher than Estimate 3 for 2020-21.
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Mining

  • Estimate 4 for 2020-21 is $36,027m.
  • This is -5.8% lower than Estimate 3 for 2020-21.
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Manufacturing

  • Estimate 4 for 2020-21 is $9,378m.
  • This is 13.9% higher than Estimate 3 for 2020-21.
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Other selected industries

  • Estimate 4 for 2020-21 is $59,579m.
  • This is 14.1% higher than Estimate 3 for 2020-21.
     
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Detailed industry movements by asset type

Industry chain volume total capex
Jun Qtr 20 to Sep Qtr 20Sep Qtr 19 to Sep Qtr 20
% change% change
Mining -3.1 -2.8
Manufacturing -1.0 -12.9
Electricity, Gas, Water and Waste 4.6 -11.6
Construction -16.8 -13.5
Wholesale Trade 10.6 5.8
Retail Trade 4.6 1.0
Transport, Postal and Warehousing -19.1 -34.9
Information Media and Telecommunications -15.0 -9.8
Financial and Insurance Services 3.7 -14.3
Rental, Hiring and Real Estate -1.5 -33.4
Professional, Scientific and Technical Services 0.0 28.5
Other Selected Services 20.2 -30.1
Industry chain volume buildings and structures
Jun Qtr 20 to Sep Qtr 20Sep Qtr 19 to Sep Qtr 20
% change% change
Mining -4.1 -1.7
Manufacturing -0.7 -9.7
Electricity, Gas, Water and Waste 3.4 -14.7
Construction 14.5 -31.5
Wholesale Trade 1.9 39.7
Retail Trade 6.9 1.6
Transport, Postal and Warehousing -13.2 -39.1
Information Media and Telecommunications -15.7 -6.5
Financial and Insurance Services 16.0 -18.2
Rental, Hiring and Real Estate -1.5 -31.0
Professional, Scientific and Technical Services -15.6 45.1
Other Selected Services 5.9 -48.4
Industry chain volume equipment and machinery
Jun Qtr 20 to Sep Qtr 20Sep Qtr 19 to Sep Qtr 20
% change% change
Mining -0.4 -5.1
Manufacturing -1.1 -14.0
Electricity, Gas, Water and Waste 11.7 12.5
Construction -17.9 -12.3
Wholesale Trade 13.3 -1.0
Retail Trade 3.7 0.8
Transport, Postal and Warehousing -24.0 -30.2
Information Media and Telecommunications -12.0 -19.5
Financial and Insurance Services 0.6 -13.0
Rental, Hiring and Real Estate -1.6 -38.7
Professional, Scientific and Technical Services 2.9 26.3
Other Selected Services 27.5 -18.0

State movements

State chain volume seasonally adjusted total capex
Jun Qtr 20 to Sep Qtr 20Sep Qtr 19 to Sep Qtr 20
% change% change
New South Wales -3.7 -21.0
Victoria -7.7 -23.7
Queensland -0.7 -13.7
South Australia -3.7 -8.5
Western Australia -1.4 4.8
Tasmania -3.4 -4.2
Northern Territory -2.3 -26.7
Australian Capital Territory -7.0 -3.1

Data downloads

Table 1A. Actual expenditure by type of asset and industry - current prices $m

Table 1B. Expected expenditure - short term, by type of asset and industry - current prices $m

Table 1C. Expected expenditure - long term, by type of asset and industry - current prices $m

Table 1E. Actual expenditure, by type of asset and industry - seasonally adjusted current prices $m

Table 1F. Actual expenditure, by type of asset and industry - trend current prices $m

Table 2A. Actual expenditure, detailed industries - current prices $m

Table 2B. Expected expenditure, short term, detailed industries - current prices $m (a)

Table 2C. Expected expenditure, long term, detailed industries - current prices $m (a)

Table 2E. Actual expenditure, detailed industries - seasonally adjusted current prices $m

Table 2F. Actual expenditure, detailed industries - trend current prices $m

Table 3A. Actual expenditure, by type of asset - chain volume measures $m

Table 3B. Actual expenditure, by type of industry - chain volume measures $m

Table 4A. Actual expenditure, by type of asset and state - current prices: original $m

Table 4B. Actual expenditure, by type of asset and state - current prices: seasonally adjusted $m

Table 4C. Actual expenditure, by type of asset and state - current prices: trend $m

Table 5A. Actual expenditure, by type of asset and state - chain volume measures: original $m

Table 5B. Actual expenditure, by type of asset and state - chain volume measures: seasonally adjusted $m

Table 5C. Actual expenditure, by type of asset and state - chain volume measures: trend $m

Table 6A. Actual and expected capital expenditure by asset - New South Wales: current prices $m

Table 6B. Actual and expected capital expenditure by industry - New South Wales: current prices $m

Table 7A. Actual and expected capital expenditure by asset - Victoria: current prices $m

Table 7B. Actual and expected capital expenditure by industry - Victoria: current prices $m

Table 8A. Actual and expected capital expenditure by asset - Queensland: current prices $m

Table 8B. Actual and expected capital expenditure by industry - Queensland: current prices $m

Table 9A. Actual and expected capital expenditure by asset - South Australia: current prices $m

Table 9B. Actual and expected capital expenditure by industry - South Australia: current prices $m

Table 10A. Actual and expected capital expenditure by asset - Western Australia: current prices $m

Table 10B. Actual and expected capital expenditure by industry - Western Australia: current prices $m

Table 11A. Actual and expected capital expenditure by asset - Tasmania: current prices $m

Table 11B. Actual and expected capital expenditure by industry - Tasmania: current prices $m

Table 12A. Financial year estimates combining actual and expected expenditure by type of asset and industry - current prices

Table 12B. Realisation ratios comparing actual to expected expenditure by type of asset and industry - current prices

Table 13A. Experimental estimates of education and health - actual expenditure by type of asset and state/territory - current prices

Table 13B. Experimental estimates of education and health - financial year estimates combining actual and expected expenditure by type of asset and industry - current Prices

Table 13C. Experimental estimates of education and health - realisation ratios comparing actual to expected expenditure by type of asset and industry - current prices

All time series spreadsheets

Previous catalogue number

This release previously used catalogue number 5625.0.
 

Inquiries

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