December key figures
Financing resources and investment, original, current prices
| Non-financial corporations | Financial corporations | General government | Household | Total National | Rest of world | |||
|---|---|---|---|---|---|---|---|---|
| $b | $b | $b | $b | $b | $b | |||
| Financing resources | ||||||||
| Net saving (a) | 23.3 | -2.9 | 6.2 | 4.2 | 30.8 | -1.8 | ||
| plus Consumption of fixed capital | 42.4 | 3.1 | 10.8 | 30.9 | 87.3 | - | ||
| Gross saving | 65.7 | 0.2 | 17.1 | 35.2 | 118.1 | -1.8 | ||
| plus Net capital transfers | 0.8 | - | -1.6 | 0.7 | -0.2 | 0.2 | ||
| less Statistical discrepancy (b) | - | - | - | - | -6.6 | - | ||
| Total financing resources | 66.5 | 0.2 | 15.4 | 35.8 | 124.5 | -1.7 | ||
| Uses of financing (Investment) | ||||||||
| Capital formation | ||||||||
| Gross fixed capital formation | 53.3 | 3.4 | 20.8 | 41.0 | 118.5 | - | ||
| plus Change in inventories | 1.8 | - | 0.1 | 2.5 | 4.4 | - | ||
| plus Net acquisition of non-produced non-financial assets | -0.2 | - | 0.2 | - | - | - | ||
| Total capital formation | 54.8 | 3.4 | 21.1 | 43.6 | 122.9 | - | ||
| plus Financial investment | ||||||||
| Acquisition of financial assets | 4.8 | 20.3 | 2.1 | 43.5 | -6.3 | -7.9 | ||
| less Incurrence of liabilities | 21.7 | 17.2 | 9.5 | 20.6 | -7.9 | -6.3 | ||
| Net financial investment (Net lending (+) / net borrowing (-)) | -17.0 | 3.1 | -7.4 | 22.9 | 1.7 | -1.7 | ||
| less Net errors and omissions | -28.6 | 6.3 | -1.7 | 30.6 | - | - | ||
| Total investment | 66.5 | 0.2 | 15.4 | 35.8 | 124.5 | -1.7 | ||
- nil or rounded to zero (including null cells)
a. Net saving for the Rest of world is the balance on the external income account.
b. The statistical discrepancy is not able to be distributed among the sectors.
National investment reaches a record high
National investment rose by $10.2b this quarter to $122.9b, the highest level on record.
Household investment grew to $43.6b, up from $38.9b in the previous quarter.
General government investment increased by $4.1b this quarter to $21.1b. This was impacted by the purchase of assets from the public corporations sector.
Non-financial corporations investment increased by $1.2b to $54.8b. There was a stronger than usual build up of mining inventories this quarter. Inventories of coal increased as production returned to more typical levels following planned and unplanned maintenance during the September quarter.
Australia is a net lender for a third consecutive quarter
National net lending was $1.7b in December quarter 2019, a slowdown from the $6.1b and $3.1b recorded in the June and September quarters 2019. Australia repaid $7.9b of liabilities with non-residents and disposed $6.3b of financial assets.
The decrease in Australia's liabilities to rest of the world of $53.4b was driven by the settlement of $41.5b in derivative contracts by authorised deposit taking institutions (ADIs). This was partly offset by non-residents acquiring private non-financial corporations' shares and other equity ($9.9b) and short term debt securities ($25.7b) issued by ADIs. Australia's transactions of financial assets during the quarter was -$6.3b as residents settled $42.3b of ADI derivative contracts with the rest of world, this was partly offset by acquisition of $21.2b in overseas shares and lending of $9.5b in loans to rest of world.
Non-financial corporations were net borrowers of $17.0b, driven by issuance of equity ($23.5b).
The general government was a net borrower of $7.4b, driven by the disposal of currency and deposit assets ($9.1b) and the issuances of short term debt securities ($7.5b) and loan borrowings ($6.0b).
Households were net lenders of $22.9b, accumulating $11.7b in deposits and accruing $19.3b in net equity in reserves of pension funds (superannuation), these were offset by loan borrowings of $19.8b.
