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Private New Capital Expenditure and Expected Expenditure, Australia

Contains estimates of actual and expected new capital expenditure by type of asset and by selected industries

Reference period
March 2020
Released
28/05/2020

Key statistics

  • Total new capital expenditure fell by -1.6% in the March quarter 2020.
  • Buildings and structures fell by -1.1% in the March quarter 2020.
  • Equipment, plant and machinery fell by -2.3% in the March quarter 2020.

Main features

March key figures

  Mar Qtr 20Dec Qtr 19 to Mar Qtr 20Mar Qtr 19 to Mar Qtr 20
  $m% change% change
Seasonally adjusted(a)   
 Total new capital expenditure
27 964
-1.6
-6.1
 Buildings and structures
14 699
-1.1
-7.9
 Equipment, plant and machinery
13 265
-2.3
-4.0
a. In volume terms
 
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March key points

Actual expenditure (seasonally adjusted in volume terms)

  • Total new capital expenditure fell by -1.6% in the March quarter 2020. This follows a fall of -2.6% in the December quarter 2019.
  • Buildings and structures fell by -1.1% in the March quarter 2020. This follows a fall of -5.2% in the December quarter 2019.
  • Equipment, plant and machinery fell by -2.3% in the March quarter 2020. This follows a rise of 0.4% in the December quarter 2019.
     

Expected expenditure (current price terms)

  • This issue includes the sixth estimate (Estimate 6) for 2019-20 and the second estimate (Estimate 2) for 2020-21.
  • Estimate 6 for 2019-20 is $115,434m. This is -5.6% lower than Estimate 6 for 2018-19.
  • Estimate 6 is -3.8% lower than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $90,891m. This is -7.9% lower than Estimate 2 for 2019-20.
  • Estimate 2 is -8.8% lower than Estimate 1 for 2020-21.
     

Corona virus (COVID-19) in March quarter

The World Health Organisation (WHO) commenced daily situation reports of the coronavirus (COVID-19) outbreak on 21 January 2020 and identified it as an international health emergency on 30 January. From 1 February, the Australian Government placed travel restrictions on those travelling to Australia from mainland China. These restrictions were progressively increased until they applied to all non-residents. In March, regulations to encourage social distancing saw further impacts on the ability of businesses to trade as normal. This included restrictions on dining-in at restaurants and restrictions on the number of people that could be in a shop at a particular time.

COVID-19 saw a minor impact on data collection activities for the March quarter 2020 reference quarter.

Individual businesses reported a number of impacts attributed to COVID-19 but mainly in regard to expectations data published in this release.

Suspension of trend series

The trend series attempts to measure underlying behaviour in business investment. 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 new capital expenditure.

It may be some time before the underlying trend in business spend on new capital expenditure can be accurately estimated. The new capital expenditure trend series has therefore been suspended as at March quarter 2020. The trend series will be reinstated when more certainty emerges in the underlying trend.

Actual new capital expenditure in seasonally adjusted volume terms

​​​​​​​Total capital expenditure

  • Total new capital expenditure fell -1.6% in the March quarter 2020.
     
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Buildings and structures

  • Buildings and structures fell -1.1% in the March quarter 2020.
     
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Equipment and machinery

  • Equipment, plant and machinery fell -2.3% in the March quarter 2020.
     
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Mining

  • Mining rose 4.2% in the March quarter 2020.
     
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Manufacturing

  • Manufacturing rose 5.7% in the March quarter 2020.
     
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Other selected industries

  • Other Selected Industries fell -5.2% in the March quarter 2020.
     
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Actual and expected new capital expenditure

​​​​​​​Financial years at current prices

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 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 6 for 2019-20 is $115,434m. This is -3.8% lower than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $90,891m. This is -8.8% lower than Estimate 1 for 2020-21.
     
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Buildings and structures

  • Estimate 6 for 2019-20 is $62,781m. This is -8.3% lower than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $53,935m. This is -11.6% lower than Estimate 1 for 2020-21.
     
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Equipment, plant and machinery

  • Estimate 6 for 2019-20 is $52,653m. This is 2.0% higher than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $36,955m. This is -4.5% lower than Estimate 1 for 2020-21.
     
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Mining

  • Estimate 6 for 2019-20 is $35,469m. This is -7.3% lower than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $35,827m. This is -6.8% lower than Estimate 1 for 2020-21.
     
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Manufacturing

  • Estimate 6 for 2019-20 is $9,557m. This is -1.6% lower than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $7,299m. This is -7.0% lower than Estimate 1 for 2020-21.
     
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Other selected industries

  • Estimate 6 for 2019-20 is $70,408m. This is -2.3% lower than Estimate 5 for 2019-20.
  • Estimate 2 for 2020-21 is $47,764m. This is -10.6% lower than Estimate 1 for 2020-21.
     
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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