Quarterly statistics about actual and expected private new capex investment spend on buildings and equipment by industry
| Mar Qtr 21 | Dec Qtr 20 to Mar Qtr 21 | Mar Qtr 20 to Mar Qtr 21 | ||
|---|---|---|---|---|
| $m | % change | % change | ||
| Seasonally adjusted(a) | ||||
| Total new capital expenditure | 31 494 | 6.3 | 0.8 | |
| Buildings and structures | 16 193 | 3.8 | -3.4 | |
| Equipment, plant and machinery | 15 301 | 9.1 | 5.6 | |
a. In volume terms
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 were 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.
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.
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 expenditure | Data on Short-term expected expenditure | Data 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 |
| Dec Qtr 20 to Mar Qtr 21 | Mar Qtr 20 to Mar Qtr 21 | |
|---|---|---|
| % change | % change | |
| Mining | 4.1 | 0.7 |
| Manufacturing | 15.4 | 14.4 |
| Electricity, Gas, Water and Waste | 5.4 | -8.3 |
| Construction | 17.0 | 55.8 |
| Wholesale Trade | 13.2 | 16.5 |
| Retail Trade | 14.4 | 35.6 |
| Accommodation and Food Services | 8.8 | 21.5 |
| Transport, Postal and Warehousing | 2.8 | -12.0 |
| Information Media and Telecommunications | -2.1 | -16.2 |
| Financial and Insurance Services | 17.6 | -1.9 |
| Rental, Hiring and Real Estate | 4.9 | -11.6 |
| Professional, Scientific and Technical Services | 9.6 | 9.4 |
| Administrative and Support Services | -5.1 | 38.6 |
| Education and Training | 6.9 | -13.4 |
| Health Care and Social Assistance | -7.0 | -14.1 |
| Arts and Recreation Services | 17.3 | -59.7 |
| Other Services | 7.3 | 42.4 |
| Dec Qtr 20 to Mar Qtr 21 | Mar Qtr 20 to Mar Qtr 21 | |
|---|---|---|
| % change | % change | |
| Mining | 2.6 | 1.3 |
| Manufacturing | 16.5 | 9.7 |
| Electricity, Gas, Water and Waste | 2.3 | -9.7 |
| Construction | 34.5 | 54.2 |
| Wholesale Trade | 3.6 | -7.0 |
| Retail Trade | 7.8 | 15.7 |
| Accommodation and Food Services | -8.3 | -7.7 |
| Transport, Postal and Warehousing | 10.1 | 0.3 |
| Information Media and Telecommunications | 3.1 | -8.6 |
| Financial and Insurance Services | 27.8 | -20.2 |
| Rental, Hiring and Real Estate | 6.1 | -11.3 |
| Professional, Scientific and Technical Services | 10.8 | 30.6 |
| Administrative and Support Services | 53.5 | 395.5 |
| Education and Training | -6.4 | -15.0 |
| Health Care and Social Assistance | -8.8 | -17.0 |
| Arts and Recreation Services | 15.8 | -60.7 |
| Other Services | 18.4 | 171.9 |
| Dec Qtr 20 to Mar Qtr 21 | Mar Qtr 20 to Mar Qtr 21 | |
|---|---|---|
| % change | % change | |
| Mining | 8.1 | -0.7 |
| Manufacturing | 14.9 | 16.1 |
| Electricity, Gas, Water and Waste | 28.3 | 0.6 |
| Construction | 16.3 | 55.9 |
| Wholesale Trade | 15.0 | 21.7 |
| Retail Trade | 17.0 | 44.5 |
| Accommodation and Food Services | 19.2 | 42.2 |
| Transport, Postal and Warehousing | -2.7 | -20.2 |
| Information Media and Telecommunications | -20.5 | -39.7 |
| Financial and Insurance Services | 15.9 | 2.5 |
| Rental, Hiring and Real Estate | 2.5 | -12.1 |
| Professional, Scientific and Technical Services | 9.4 | 5.7 |
| Administrative and Support Services | -19.0 | 5.2 |
| Education and Training | 49.2 | -10.3 |
| Health Care and Social Assistance | -4.6 | -10.2 |
| Arts and Recreation Services | 18.9 | -58.9 |
| Other Services | 2.8 | 16.2 |
| Dec Qtr 20 to Mar Qtr 21 | Mar Qtr 20 to Mar Qtr 21 | |
|---|---|---|
| % change | % change | |
| New South Wales | 9.8 | 7.0 |
| Victoria | 3.8 | -8.4 |
| Queensland | -0.4 | -13.2 |
| South Australia | 11.0 | 21.0 |
| Western Australia | 10.9 | 10.3 |
| Tasmania | 9.0 | 7.5 |
| Northern Territory | -46.9 | -41.8 |
| Australian Capital Territory | 6.0 | 0.4 |