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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
December Quarter 2019
Released
27/02/2020

Key statistics

  • Trend estimate for total new capital expenditure fell 1.4% in Dec 2019.
  • Seasonally adjusted estimate for total new capital expenditure fell 2.8% in Dec 2019.
  • Buildings and structures fell 5.9% seasonally adjusted in Dec 2019.
  • Equipment, plant and machinery rose 0.8% in Dec 2019.

Main features

December key figures

  Dec Qtr 19Sep Qtr 19 to Dec Qtr 19Dec Qtr 18 to Dec Qtr 19
  $m% change% change
Trend estimates(a)   
 Total new capital expenditure
28 663
-1.4
-4.5
 Buildings and structures
15 083
-1.7
-6.6
 Equipment, plant and machinery
13 599
-0.8
-1.9
Seasonally adjusted(a)   
 Total new capital expenditure
28 454
-2.8
-5.8
 Buildings and structures
14 815
-5.9
-9.6
 Equipment, plant and machinery
13 639
0.8
-1.3
a. In volume terms
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December key points

Actual expenditure (volume terms)

  • The trend estimate for total new capital expenditure fell by -1.4% in the December quarter 2019. This follows a fall of -1.3% in the September quarter 2019.
  • The seasonally adjusted estimate for total new capital expenditure fell by -2.8% in the December quarter 2019. This follows a fall of -0.4% in the September quarter 2019.
  • The trend volume estimate for buildings and structures fell by -1.7% in the December quarter 2019. This follows a fall of -1.9% in the September quarter 2019.
  • The seasonally adjusted estimate for buildings and structures fell by -5.9% in the December quarter 2019. This follows a rise of 2.5% in the September quarter 2019.
  • The trend volume estimate for equipment, plant and machinery fell by -0.8% in the December quarter 2019. This follows a fall of -0.7% in the September quarter 2019.
  • The seasonally adjusted volume estimate for equipment, plant and machinery rose by 0.8% in the December quarter 2019. This follows a fall of -3.6% in the September quarter 2019.
     

Expected expenditure (current price terms)

  • This issue includes the fifth estimate (Estimate 5) for 2019-20 and the first estimate (Estimate 1) for 2020-21.
  • Estimate 5 for 2019-20 is $120,344m. This is 2.1% higher than Estimate 5 for 2018-19. Estimate 5 is 2.8% higher than Estimate 4 for 2019-20.
  • Estimate 1 for 2020-21 is $100,186m. This is 8.8% higher than Estimate 1 for 2019-20.

Actual new capital expenditure, in volume terms

Total capital expenditure

  • The trend estimate for total new capital expenditure fell -1.4% in the December quarter 2019.
  • The seasonally adjusted estimate for total new capital expenditure fell -2.8% in the December quarter 2019.
     
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Buildings and structures

  • The trend estimate for buildings and structures fell -1.7% in the December quarter 2019.
  • The seasonally adjusted estimate for buildings and structures fell -5.9% in the December quarter 2019.
     
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Equipment, plant and machinery

  • The trend estimate for equipment, plant and machinery fell -0.8% in the December quarter 2019.
  • The seasonally adjusted estimate for equipment, plant and machinery rose 0.8% in the December quarter 2019.
     
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Mining

  • The trend estimate for Mining rose 0.6% in the December quarter 2019.
  • The seasonally adjusted estimate for Mining fell -2.7% in the December quarter 2019.
     
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Manufacturing

  • The trend estimate for Manufacturing fell -0.6% in the December quarter 2019.
  • The seasonally adjusted estimate for Manufacturing fell -10.1% in the December quarter 2019.
     
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Other selected industries

  • The trend estimate for Other Selected Industries fell -2.2% in the December quarter 2019.
  • The seasonally adjusted estimate for Other Selected Industries fell -1.9% in the December quarter 2019.
     
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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:

  COMPOSITION OF ESTIMATE
 Estimate Based on data reported at: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 5 for 2019-20 is $120,344m. This is 2.1% higher than Estimate 5 for 2018-19.
  • Estimate 1 for 2020-21 is $100,186m. This is 8.8% higher than Estimate 1 for 2019-20.
     
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Buildings and structures

  • Estimate 5 for 2019-20 is $68,475m. This is 2.4% higher than Estimate 5 for 2018-19.
  • Estimate 1 for 2020-21 is $61,049m. This is 10.8% higher than Estimate 1 for 2019-20
     
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Equipment, plant and machinery

  • Estimate 5 for 2019-20 is $51,869m. This is 1.7% higher than Estimate 5 for 2018-19.
  • Estimate 1 for 2020-21 is $39,137m. This is 5.6% higher than Estimate 1 for 2019-20.
     
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Mining

  • Estimate 5 for 2019-20 is $38,447m. This is 11.4% higher than Estimate 5 for 2018-19.
  • Estimate 1 for 2020-21 is $38,518m. This is 28.0% higher than Estimate 1 for 2019-20
     
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Manufacturing

  • Estimate 5 for 2019-20 is $9,789m. This is 2.5% higher than Estimate 5 for 2018-19.
  • Estimate 1 for 2020-21 is $7,831m. This is 6.8% higher than Estimate 1 for 2019-20.
     
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Other selected industries

  • Estimate 5 for 2019-20 is $72,107m. This is 2.3% lower than Estimate 5 for 2018-19.
  • Estimate 1 for 2020-21 is $53,837m. This is 1.6% lower than Estimate 1 for 2019-20.
     
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Changes in this issue

From this issue (December quarter 2019), this publication will include financial year estimates and realisation ratios for the Education and Training and Health Care and Social Assistance industries. Data from these industries have been collected over the past several quarters through the Survey of New Capital Expenditure. This new series will be ongoing and will be presented in current price original data. This series is available in the Data downloads section in Table 13B and Table 13C.

Mining projects

Mining projects tend to be complex in structure and comprise a number of different investment activities including exploration, engineering construction, plant and equipment and buildings. A feature article released in the March 2012 issue of Private New Capital Expenditure and Expected Expenditure, Australia (cat. no. 5625.0) provides a summary of the conceptual basis of the relevant ABS publications that measure investment in Australia, using a hypothetical mining project to illustrate how this investment is reflected in ABS data.

Inquiries

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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