September key figures
Financing resources and investment, original, current prices
|Non-financial corporations||Financial corporations||General government||Household||Total National||Rest of world|
|Net saving (a)||-8.7||15.0||-6.6||33.0||32.7||-5.2|
|plus Consumption of fixed capital||41.9||3.1||10.7||30.7||86.4||-|
|plus Net capital transfers||0.9||-||-1.5||0.5||-0.2||0.2|
|less Statistical discrepancy (b)||-||-||-||-||3.4||-|
|Total financing resources||34.1||18.1||2.6||64.2||115.6||-5.0|
|Uses of financing (Investment)|
|Gross fixed capital formation||50.3||3.1||16.7||39.9||110.1||-|
|plus Change in inventories||2.0||-||-0.1||-1.5||0.5||-|
|plus Net acquisition of non-produced non-financial assets||-0.1||-||0.0||0.0||0.0||-|
|Total capital formation||52.3||3.1||16.7||38.4||110.5||-|
|plus Financial investment|
|Acquisition of financial assets||25.9||25.5||13.5||53.7||7.8||0.1|
|less Incurrence of liabilities||33.6||47.9||31.4||-0.6||0.1||7.8|
|Net financial investment (Net lending (+) / net borrowing (-))||-7.7||-22.5||-17.9||54.3||7.7||-7.7|
|less Net errors and omissions||10.5||-37.5||-3.8||28.6||2.7||-2.7|
- 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 falls in September quarter
National investment decreased by $5.1b to $110.5b this quarter.
The general government sector invested $16.7b over the quarter, down from $23.8b in June. A fall is typical for the September quarter.
Household investment decreased by $0.5b, falling to $38.4b overall. This was driven by declines in machinery and equipment and dwelling investment, partly offset by an increase in ownership transfer costs.
Private non-financial corporations investment increased by $3.5b this quarter to $46.5b. This was driven by a build up of inventories leading into the Christmas period.
Australia continues to be a net lender
National net lending was $7.7b in September quarter 2019 as gross saving of $119.1b was used to fund national investment.
During the quarter, residents acquired $19.7b of shares and other equity issued by the rest of world, with non-money market financial investment funds and pension funds acquiring $11.3b and $8.2b respectively. The rest of the world borrowed $20.9b in loans from domestic authorised deposit taking institutions (ADIs).
ADIs settled $20.9b of their derivative contracts with rest of the world. The rest of the world acquired $17.4b of shares and other equity issued by residents.
Non-financial corporations were net borrowers of $7.7b, driven by loan borrowings ($17.6b) and issuance of equity ($4.8b) partly offset by maturities of $3.7b in debt securities.
The general government was a net borrower of $17.9b, driven by issuances of long term debt securities ($11.8b) and loan borrowings ($9.3b).
Households were net lenders of $54.3b, depositing $23.8b and accruing $16.1b in net equity in reserves of pension funds (superannuation).