5625.0 private new capital expenditure and expected ... · equipment, plant and machinery rose 3.5%...

(a) In volume terms

–3.02.812 199Equipment, plant and machinery

–25.6–10.616 513Buildings and structures

–17.4–5.428 712Total new capital expenditure

Seasonally adjusted(a)

–2.21.912 132Equipment, plant and machinery

–22.1–7.017 078Buildings and structures

–15.2–3.829 130Total new capital expenditure

Trend estimates(a)

% change% change$m

Jun Qtr 15 toJun Qtr 16

Mar Qtr 16 toJun Qtr 16

JunQtr 16

K E Y F I G U R E S

A C T U A L E X P E N D I T U R E ( V O L U M E T E R M S )

The trend volume estimate for total new capital expenditure fell 3.8% in the June quarter

2016 while the seasonally adjusted estimate fell by 5.4%.

The trend volume estimate for buildings and structures fell by 7.0% in the June quarter

2016 while the seasonally adjusted estimate fell by 10.6%.

The trend volume estimate for equipment, plant and machinery rose by 1.9% in the June

quarter 2016 while the seasonally adjusted estimate rose by 2.8%.

E X P E C T E D E X P E N D I T U R E ( C U R R E N T P R I C E T E R M S )

This issue includes the seventh estimate (Estimate 7) for 2015-16 and the third estimate

(Estimate 3) for 2016-17.

Estimate 7 for 2015-16 is $127,455m. This is 15.4% lower than Estimate 7 for 2014-15.

Estimate 7 is 0.2% higher than Estimate 6 for 2015-16.

Estimate 3 for 2016-17 is $105,173m. This is 9.1% lower than Estimate 3 for 2015-16.

Estimate 3 is 15.2% higher than Estimate 2 for 2016-17.

See pages 7-10 for further commentary on expectations data.

K E Y P O I N T S

E M B A R G O : 1 1 . 3 0 A M ( C A N B E R R A T I M E ) T H U R S 1 S E P 2 0 1 6

PRIVATE NEW CAPITAL EXPENDITUREAND EXPECTED EXPENDITURE A U S T R A L I A

5625.0J U N E Q U A R T E R 2 0 1 6

Inquiries about these andrelated statistics, contactthe National Informationand Referral Service on1300 135 070. The ABSPrivacy Policy outlines howthe ABS will handle anypersonal information thatyou provide to us.

New Capital Expenditurein volume terms

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$b

25

30

35

39

44

TrendSeasonally Adjusted

I N Q U I R I E S

w w w . a b s . g o v . a u

31 August 2017June 2017

1 June 2017March 2017

23 February 2017December 2016

1 December 2016September 2016

RELEASE DATEISSUE (Quarter)FO R T H C O M I N G I S S U E S

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.

DA T A NO T E S

A feature article titled "Modelling for scope exclusions in Private New Capital

Expenditure" is included in this issue.

CH A N G E S TO TH I S I S S U E

type of activity unitTAU

System of National Accounts 2008 versionSNA08

pay-as-you-go taxPAYG

Australian and New Zealand Standard Industrial ClassificationANZSIC

Australian Bureau of StatisticsABS

Australian Business NumberABNAB B R E V I A T I O N S

Da v i d W . Ka l i s c h

Au s t r a l i a n S t a t i s t i c i a n

2 A B S • P R I V A T E N E W CA P I T A L E X P E N D I T U R E A N D EX P E C T E D EX P E N D I T U R E • 5 6 2 5 . 0 • J U N 2 0 1 6

N O T E S

38Appendix: Sampling errors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30Explanatory Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29What if...? Revisions to trend estimates . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

AD D I T I O N A L IN F O R M A T I O N

28Actual total expenditure, By state, Chain volume measures13 . . . . . . . . . . .27

Actual expenditure on equipment, plant and machinery, By state,

Chain volume measures

12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

26

Actual expenditure on buildings and structures, By state, Chain volume

measures

11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25Actual total expenditure, By state, Current prices10 . . . . . . . . . . . . . . . . .24

Actual expenditure on equipment, plant and machinery, By state,

Current prices

9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

23Actual expenditure on buildings and structures, By state, Current prices8 . . . .ST A T E ES T I M A T E S

22

Ratios of actual to short term expectations, By type of asset and

industry, Current prices

7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21Expected expenditure and realisation ratios, By industry, Current prices6 . . . .20

Expected expenditure and realisation ratios, By type of asset, Current

prices

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F I N A N C I A L YE A R EX P E N D I T U R E

19

Actual expenditure, By type of asset and industry, Percentage change,

Chain volume measures

4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18

Actual expenditure, By type of asset and industry, Chain volume

measures

3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16Actual and expected expenditure, By detailed industry, Current prices2 . . . .15

Actual and expected expenditure, By type of asset and industry,

Current prices

1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

AC T U A L AN D EX P E C T E D EX P E N D I T U R E

TA B L E S

11Modelling for scope exclusions in Private New Capital Expenditure . . . . . . . . . . .FE A T U R E AR T I C L E

7Actual and expected new capital expenditure . . . . . . . . . . . . . . . . . . . . . . . . .4Actual new capital expenditure, In volume terms . . . . . . . . . . . . . . . . . . . . . . .

CO M M E N T A R Y

page

A B S • P R I V A T E N E W CA P I T A L E X P E N D I T U R E A N D EX P E C T E D EX P E N D I T U R E • 5 6 2 5 . 0 • J U N 2 0 1 6 3

C O N T E N T S

Jun2011

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$m

15000

18000

21000

24000

27000

30000TrendSeasonally Adjusted

The trend estimate for buildings and structures fell 7.0% in the June quarter 2016.

Buildings and structures for Mining fell 12.6%, Other Selected Industries rose 1.1% and

Manufacturing rose 7.0%. The seasonally adjusted estimate for buildings and structures

fell 10.6% in the June quarter 2016. Mining fell 17.5%, Other Selected Industries fell 1.6%

and Manufacturing rose 23.5% in seasonally adjusted terms.

BU I L D I N G S AN D

ST R U C T U R E S

Jun2011

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$m

27000

30000

33000

36000

39000

42000


The trend estimate for total new capital expenditure fell 3.8% in the June quarter 2016.

By asset type, the trend estimate for buildings and structures fell 7.0% and equipment,

plant and machinery rose 1.9%. The seasonally adjusted estimate for total new capital

expenditure fell 5.4% in the June quarter 2016.

TO T A L CA P I T A L

EX P E N D I T U R E

4 A B S • P R I V A T E N E W CA P I T A L E X P E N D I T U R E A N D EX P E C T E D EX P E N D I T U R E • 5 6 2 5 . 0 • J U N Q T R 2 0 1 6

A C T U A L N E W C A P I T A L E X P E N D I T U R E I N V O L U M E T E R M S

Jun2011

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$m

8000

11000

14000

17000

20000

23000

26000

TrendSeasonally Adjusted

The trend estimate for Mining fell 12.5% in the June quarter 2016. Buildings and

structures fell 12.6% and equipment, plant and machinery fell 4.4%. The seasonally

adjusted estimate for Mining fell 16.1%. Buildings and structures fell 17.5% and

equipment, plant and machinery fell 3.5% in seasonally adjusted terms.

MI N I N G

Jun2011

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$m

11000

12000

13000

14000


The trend estimate for equipment, plant and machinery rose 1.9% in the June quarter

2016. Equipment, plant and machinery for Other Selected Industries rose 3.5%, Mining

fell 4.4% and Manufacturing fell 3.1%. The seasonally adjusted estimate for equipment,

plant and machinery rose 2.8% in the June quarter 2016. Other Selected Industries rose

2.6%, Manufacturing rose 9.6% and Mining fell 3.5% in seasonally adjusted terms.

EQ U I P M E N T , P L A N T AN D

MA C H I N E R Y

A B S • P R I V A T E N E W CA P I T A L E X P E N D I T U R E A N D EX P E C T E D EX P E N D I T U R E • 5 6 2 5 . 0 • J U N Q T R 2 0 1 6 5

A C T U A L N E W C A P I T A L E X P E N D I T U R E I N V O L U M E T E R M S continued

Jun2011

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$m

13000

14000

15000

16000


The trend estimate for Other Selected Industries rose 2.6% in the June quarter 2016.

Equipment, plant and machinery rose 3.5% and buildings and structures rose 1.1%. The

seasonally adjusted estimate for Other Selected Industries rose 0.8% in the June quarter

2016. Equipment, plant and machinery rose 2.6% while buildings and structures fell 1.6%

in seasonally adjusted terms.

OT H E R SE L E C T E D

IN D U S T R I E S

Jun2011

Jun2012

Jun2013

Jun2014

Jun2015

Jun2016

$m

1500

2000

2500

3000

3500


The trend estimate for Manufacturing fell 0.8% in the June quarter 2016. Equipment,

plant and machinery fell 3.1% and buildings and structures rose 7.0%. The seasonally

adjusted estimate for Manufacturing rose 12.9% in the June quarter 2016. Equipment,

plant and machinery rose 9.6% and buildings and structures rose 23.5% in seasonally

adjusted terms.

MA N U F A C T U R I N G


A C T U A L N E W C A P I T A L E X P E N D I T U R E I N V O L U M E T E R M S continued

FINANCIAL YEAR ACTUAL & EXPECTED EXPENDITURE - TOTAL CAPITAL EXPENDITURE

Expected full yearActual year to date

$ billion $ billion

0 0

20 20

40 40

60 60

80 80

100 100

120 120

140 140

160 160

180 180

200 200

1 2 3 4 5 6 72011-2012

1 2 3 4 5 6 72012-2013

1 2 3 4 5 6 72013-2014

1 2 3 4 5 6 72014-2015

1 2 3 4 5 6 72015-2016

1 2 3 4 5 6 72016-2017

Estimate 7 for total capital expenditure in 2015-16 is $127,455m. This is 15.4% lower than

Estimate 7 for 2014-15. The main contributor to this decrease is Mining (-29.8%).

Estimate 7 is 0.2% higher than Estimate 6 for 2015-16. The main contributor to this

increase is Other Selected Industries (3.9%).

Estimate 3 for total capital expenditure for 2016-17 is $105,173m. This is 9.1% lower than

Estimate 3 for 2015-16. The main contributor to the decrease is Mining (-24.2%).

Estimate 3 is 15.2% higher than Estimate 2 for 2016-17. The main contributor to the

increase was Other Selected Industries (15.5%).

TO T A L CA P I T A L

EX P E N D I T U R E

TIMING & CONSTRUCT ION OF SEVEN ESTIMATES

The graphs below show the seven estimates of actual and expected expenditure for each

financial year. The estimates appearing below relate to data contained in Tables 5 and 6.

Advice about the application of realisation ratios to these estimates is in paragraph 26 to

29 of the Explanatory Notes.

The timing and construction of these estimates are as follows:

F I N A N C I A L YE A R S A T

CU R R E N T PR I C E S


A C T U A L A N D E X P E C T E D N E W C A P I T A L E X P E N D I T U R E

FINANCIAL YEAR ACTUAL & EXPECTED EXPENDITURE - EQUIPMENT, PLANT AND MACHINERY


$ billion $ billion

0 0

10 10

20 20

30 30

40 40

50 50

60 60

70 70

1 2 3 4 5 6 72011-2012

1 2 3 4 5 6 72012-2013

1 2 3 4 5 6 72013-2014

1 2 3 4 5 6 72014-2015

1 2 3 4 5 6 72015-2016

1 2 3 4 5 6 72016-2017

Estimate 7 for equipment, plant and machinery for 2015-16 is $50,223m. This is 5.1%

lower than Estimate 7 for 2014-15. The main contributor to this decrease is Mining

(-30.6%). Estimate 7 is 4.6% higher than Estimate 6 for 2015-16. The main contributor to

this increase is Other Selected Industries (6.2%).

Estimate 3 for equipment, plant and machinery for 2016-17 is $40,815m. This is 4.8%

higher than Estimate 3 for 2015-16. The main contributor to this increase is Other

Selected Industries (10.0%). Estimate 3 is 17.4% higher than Estimate 2 for 2016-17. The

main contributor to the increase is Other Selected Industries (20.9%).

EQ U I P M E N T , P L A N T AN D

MA C H I N E R Y

FINANCIAL YEAR ACTUAL & EXPECTED EXPENDITURE - BUILDINGS AND STRUCTURES


$ billion $ billion

0 0

20 20

40 40

60 60

80 80

100 100

120 120

140 140

1 2 3 4 5 6 72011-2012

1 2 3 4 5 6 72012-2013

1 2 3 4 5 6 72013-2014

1 2 3 4 5 6 72014-2015

1 2 3 4 5 6 72015-2016

1 2 3 4 5 6 72016-2017

Estimate 7 for buildings and structures in 2015-16 is $77,232m. This is 21.0% lower than

Estimate 7 for 2014-15. The main contributor to this decrease is Mining (-29.7%).

Estimate 7 for buildings and structures is 2.4% lower than Estimate 6 for 2015-16. The

main contributor to this decrease is Mining (-4.3%).

Estimate 3 for buildings and structures for 2016-17 is $64,357m. This is 16.2% lower than

Estimate 3 for 2015-16. The main contributor to the decrease was Mining (-25.8%).

Estimate 3 is 13.8% higher than Estimate 2 for 2016-17. The main contributor to the

increase was Mining (16.5%).

BU I L D I N G S AN D

ST R U C T U R E S


A C T U A L A N D E X P E C T E D N E W C A P I T A L E X P E N D I T U R E continued

FINANCIAL YEAR ACTUAL & EXPECTED EXPENDITURE - MANUFACTURING


$ billion $ billion

0 0

5 5

10 10

15 15

20 20

1 2 3 4 5 6 72011-2012

1 2 3 4 5 6 72012-2013

1 2 3 4 5 6 72013-2014

1 2 3 4 5 6 72014-2015

1 2 3 4 5 6 72015-2016

1 2 3 4 5 6 72016-2017

Estimate 7 for Manufacturing for 2015-16 is $8,507m. This is 1.4% lower than Estimate 7

for 2014-15. Estimate 7 is 0.5% higher than Estimate 6 for 2015-16. Equipment, plant and

machinery is 1.4% higher and buildings and structures is 2.7% lower than the

corresponding sixth estimate for 2015-16.

Estimate 3 for Manufacturing for 2016-17 is $8,471m. This is 6.8% higher than Estimate 3

for 2015-16. Estimate 3 is 16.5% higher than Estimate 2 for 2016-17. Equipment, plant

and machinery is 16.8% higher and buildings and structures is 15.9% higher than the

corresponding second estimate for 2016-17.

MA N U F A C T U R I N G

FINANCIAL YEAR ACTUAL & EXPECTED EXPENDITURE - MINING


$ billion $ billion

0 0

20 20

40 40

60 60

80 80

100 100

120 120

140 140

1 2 3 4 5 6 72011-2012

1 2 3 4 5 6 72012-2013

1 2 3 4 5 6 72013-2014

1 2 3 4 5 6 72014-2015

1 2 3 4 5 6 72015-2016

1 2 3 4 5 6 72016-2017

Estimate 7 for Mining for 2015-16 is $53,452m. This is 29.8% lower than Estimate 7 for

2014-15. Estimate 7 is 4.0% lower than Estimate 6 for 2015-16. Buildings and structures is

4.3% lower and equipment, plant and machinery is 1.6% lower than the corresponding

sixth estimate for 2015-16.

Estimate 3 for Mining for 2016-17 is $41,705m. This is 24.2% lower than Estimate 3 for

2015-16. Estimate 3 is 14.5% higher than Estimate 2 for 2016-17. Buildings and structures

is 16.5% higher and equipment, plant and machinery is 4.4% higher than the

corresponding second estimate for 2016-17.

MI N I N G



FINANCIAL YEAR ACTUAL & EXPECTED EXPENDITURE - OTHER SELECTED INDUSTRIES


$ billion $ billion

0 0

10 10

20 20

30 30

40 40

50 50

60 60

70 70

80 80

1 2 3 4 5 6 72011-2012

1 2 3 4 5 6 72012-2013

1 2 3 4 5 6 72013-2014

1 2 3 4 5 6 72014-2015

1 2 3 4 5 6 72015-2016

1 2 3 4 5 6 72016-2017

Estimate 7 for Other Selected Industries for 2015-16 is $65,496m. This is 0.6% lower than

Estimate 7 for 2014-15. Estimate 7 is 3.9% higher than Estimate 6 for 2015-16. Equipment,

plant and machinery is 6.2% higher and buildings and structures is 1.0% higher than the

corresponding sixth estimate for 2015-16.

Estimate 3 for Other Selected Industries for 2016-17 is $54,997m. This is 4.2% higher

than Estimate 3 for 2015-16. Estimate 3 is 15.5% higher than Estimate 2 for 2016-17.

Equipment, plant and machinery is 20.9% higher and buildings and structures is 10.3%

higher than the corresponding second estimate for 2016-17.

OT H E R SE L E C T E D

IN D U S T R I E S



MO D E L L I N G FO R SC O P E EX C L U S I O N S IN PR I V A T E NE W CA P I T A L EX P E N D I T U R E

Capex is one of a suite of economic surveys. A broader measure of capital expenditure is

published annually in Australian Industry, which includes total expenditure by private

businesses on acquiring 'building and structures', 'plant, machinery and equipment' and

'other intangible assets'. Australian Industry publishes estimates of capital investment on

land and intangible assets including capitalised exploration expenditure, patents, licences

and goodwill. It also includes both new and second-hand purchases of capital by all

industry divisions except for Division K: Financial and Insurance Services.

The quarterly Australian National Accounts: National Income, Expenditure and Product

(ABS Cat. No. 5206.0) presents private business investment through the expenditure

measure of Private Gross Fixed Capital Formation. The assets included are non-dwelling

construction, machinery and equipment, intellectual property products and cultivated

biological resources. 'Non-produced' capital items, including goodwill and licence fees

are excluded. The Australian National Accounts measure makes no exclusions of

industries but separates the Private and Public sectors.

Australian Industry and Capex are key components of National Accounts Gross Fixed

Capital Formation data, but levels and movement estimates differ as a result of a number

of factors including scope and the use of Supply-Use benchmarks that underpin National

Accounts data.

OT H E R AB S SO U R C E S OF

CA P I T A L EX P E N D I T U R E

The New Capital Expenditure Survey, published in Private New Capital Expenditure and

Expected Expenditure (ABS Cat. No. 5625.0), provides estimates of actual and expected

new capital expenditure for selected industries in Australia and is used as a measure of

increasing or decreasing levels of investment by private sector businesses. The survey

contains a number of exclusions in terms of selected industries and asset types.

The New Capital Expenditure Survey (Capex) does not include a number of industries in

the scope of the survey. These industries are:

Agriculture, Forestry and Fishing (Division A)

Public Administration and Safety (Division O)

Education and Training (Division P)

Health Care and Social Assistance (Division Q)

Superannuation Funds (Class 6330)

The Capex survey also excludes certain asset types that can be classified as capital

expenditure. Capital expenditure on intangible assets such as intellectual property,

patents, licences, goodwill and capitalised computer software, including software licence

fees, installation costs and software developed in house, are excluded.

Data for these excluded industries and asset types are published by the ABS, for example,

as part of quarterly Australian National Accounts: National Income, Expenditure and

Product (ABS Cat. No. 5206.0) and the annual Economic Activity Survey, as published in

Australian Industry (ABS Cat. No. 8155.0). This data can be used to model what data in

Capex may look like if the scope of the survey was expanded, firstly by the inclusion of

additional industries, and then by the inclusion of expenditure on additional asset types.

I N T R O D U C T I O N


F E A T U R E A R T I C L E

08-09 09-10 10-11 11-12 12-13 13-14 14-15

$m

100000

120000

140000

160000

180000Current SeriesModelled Series

MODEL 1, Tota l Capex (Or ig ina l cur ren t pr ice)

Due to the level of detail collected, data from the Economic Activity Survey can be

adjusted to create a comparable dataset to Capex by excluding the purchase of

second-hand assets and removing asset types such as land from the Economic Activity

Survey data. It is then possible to create a model of annualised Capex data including an

expanded industry and asset scope. The model is only designed to give an indication of

the scale of excluded industries and asset types and is not designed to indicate quarterly

changes in investment levels. Data is only available annually, up to the 2014-15 financial

year.

The first model estimates how the inclusion of Division P (Education and Training) and

Division Q (Health Care and Social Assistance) may impact levels of capital expenditure

within the current asset scope of the Capex survey. The modelling shows that the

inclusion of these industries in Capex would raise total capital expenditure levels by an

average of around $5.7bn a year, or around 4% of total capital expenditure on Buildings

and Structures, and Plant, Machinery and Equipment.

In 2014-15, Division P and Q would have raised the level from $150.7bn to $157.4bn.

Health Care and Social Assistance contributes more to the increased level, making up

around 60% of the additional capital expenditure, with 40% of the remaining additional

spend coming from Education and Training. At the Other Selected Industries1 level, the

inclusion of Divisions P and Q raise levels by an average of 9%, from a low of 6% in

2012-13 to a high of 15% in 2010-11.

I N C L U D I N G ED U C A T I O N

AN D TR A I N I N G , AN D

HE A L T H CA R E AN D

SO C I A L AS S I S T A N C E

There are a number of reasons why the data from Capex and Australian Industry are not

directly comparable, even when the differences in industries and asset types are

removed. Firstly, Capex only collects expenditure on new assets (or imported assets) as

the aim of the survey is to capture investment that adds to the production capacity of the

economy. Australian Industry on the other hand includes purchases of second-hand

capital items as transfers between industries are an important output of this collection.

Secondly, the primary objectives of the surveys are different. Capex is primarily

concerned with presenting a timely quarterly indicator of changes in levels of private

business investment, whereas the Economic Activity Survey, which has the benefit of

being collected after a business' annual financial accounts have been finalised, is

primarily focused on presenting more detailed annual levels of private business activity.

CO M P A R I N G CA P E X DA T A

W I T H AU S T R A L I A N

IN D U S T R Y


Modelling for scope exclusions in Private New Capital Expenditure continued

1 Other Selected Industries refers to all in-scope industries collected except Mining and Manufacturing.

In a similar way, we can also model capital expenditure data to include other intangible

assets, defined here as capital purchases of intellectual property, patents, licences,

goodwill and capitalised computer software, including software licence fees, installation

costs and software developed in-house. Capitalised exploration expenditure is also

included.

I N C L U D I N G OT H E R

IN T A N G I B L E AS S E T S FO R

AL L D I V I S I O N S

08-09 09-10 10-11 11-12 12-13 13-14 14-15

$m

34000

36000

38000

40000


MODEL 1, Other Selec ted Indust r ies —Plant , Mach inery andEqu ipment (Or ig ina l cur ren t pr ice)

For Plant, Machinery and Equipment, the inclusion of Divisions P and Q trends closely

with the current series in 5625.0, adding an average of $2bn a year to current levels.

08-09 09-10 10-11 11-12 12-13 13-14 14-15

$m

20000

22500

25000

27500

30000


MODEL 1, Other Selec ted Indus t r ies —Bui ld ings and Struc tu res(Or ig ina l cur ren t pr ice)

Analysis of this data by asset shows that the inclusion of a modelled figure for Divisions P

and Q increases levels for Other Selected Industries by 16% in Buildings and Structures

and around 5% in Plant, Machinery and Equipment. The data was calculated and applied

annually and has a high of 29% for Building and Structures in 2010-11 and a low of 10% in

2012-13. The Plant, Machinery and Equipment number is far more stable, between 4% in

2012-13 and 7% in 2014-15.

The inclusion of Divisions P and Q has little impact in terms of year-on-year movement at

a total industry level, with movements dominated by Mining investment. At an Other

Selected Industries level though, it does have an impact, although much of this is due to

a one-off significant increase in Education and Training capital expenditure on Building

and Structures during 2010-11. This is in line with the "Building the Education

Revolution"2 program.

I N C L U D I N G ED U C A T I O N

AN D TR A I N I N G , AN D

HE A L T H CA R E AN D

SO C I A L AS S I S T A N C E

continued



2 Building the Education Revolution. Nation Building: Economic Stimulus Plan. Department of Employment,Education and Workplace Relations.

When looking at Other Selected Industries only, the average spend on other intangible

assets increases to 15%, with a high of 17% in 2013-14 and a low of 13% in 2009-10.

08-09 09-10 10-11 11-12 12-13 13-14 14-15

$m

0

20000

40000

60000

80000

100000

120000Bldg.Eqp.Intangibles

MODEL 2, Tota l Capex by Asset (Or ig ina l cur ren t pr ice)

The below graph shows Total Capex including a modelled component for other

intangibles assets (excluding land) and including Health and Education by asset type. On

average, other intangible assets makes up around 12% of total modelled capital

purchases, with a low of 10% in 2008-09 and a high of 15% in 2009-10.

(a) inclusive of the modelled component for Divisions P and Q

08-09 09-10 10-11 11-12 12-13 13-14 14-15

$m

100000

120000

140000

160000

180000

200000Current Series (a)Modelled Series

MODEL 2, Tota l Capex (Or ig ina l cur ren t pr ice)

Purchases of land are included in the Economic Activity Survey but all land purchases

have been excluded from the model to align with the Capex scope of new assets.

The inclusion of a modelled estimate for other intangible assets would, on average,

increase Capex levels by a further $20.3bn a year from 2008-09 to 2014-15 at a total asset

level. This is from a low of $13.8bn in 2008-09 to a high of $23.2bn in 2013-14. It would

raise Capex levels in Mining by an average of $7.0bn, Manufacturing by $1.4bn and Other

Selected Industries by $11.8bn over the same period.

I N C L U D I N G OT H E R

IN T A N G I B L E AS S E T S FO R

AL L D I V I S I O N S continued



^ estimate has a relative standard error of 10% to less than 25% and should be used with caution(a) Not directly comparable with estimates of actual expenditure due to likely over/under realisation. See paragraphs 26 to 29 of the Explanatory Notes.

30 15316 8972 05411 20212 6859 7871 5341 35817 4827 1195209 844June31 36816 5702 07412 72312 5529 5401 5901 42218 8167 03048411 301March32 63716 2992 11414 22412 5139 3571 6511 50520 1256 94346312 718December33 88016 1362 14315 60112 6599 3331 6971 62921 2226 80444613 972September

2015–1635 26916 1812 16816 92112 9719 4431 6771 85022 2986 73749115 071June36 95916 4062 16918 38413 2629 5781 5842 10023 6986 82858516 285March

2014–15

TR E N D (A c t u a l )


2015–1635 71616 8462 05216 81813 1699 7741 5681 82622 5487 07248414 991June36 85615 9022 15818 79513 2989 5271 6692 10223 5576 37549016 692March

2014–15

SE A S O N A L L Y AD J U S T E D ( A c t u a l )

105 17354 9978 47141 70540 81528 2096 2246 38364 35726 7882 24735 322Total fin year49 58926 4174 01719 15519 62313 4303 0283 16529 96612 98699015 9906 mths to Jun55 58428 5804 45322 55121 19314 7783 1963 21934 39113 8011 25719 3326 mths to Dec

2016–17

OR I G I N A L ( E x p e c t e d ) (a)


2015–1637 41117 9892 18017 24214 16910 5401 6791 95023 2427 450^50115 292June32 54713 7791 95716 81111 4068 1441 5191 74321 1415 63643715 068March

2014–15

127 45565 4968 50753 45250 22337 7686 5625 89277 23227 7271 94547 5602015–16150 65565 9108 62876 11752 92538 2866 1458 49597 72927 6252 48367 6222014–15

OR I G I N A L ( A c t u a l )

$m$m$m$m$m$m$m$m$m$m$m$m

Total

Other

Selected

Industries

Manu-

facturingMiningTotal

Other

Selected

Industries

Manu-

facturingMiningTotal

Other

Selected

Industries

Manu-

facturingMining

TOTALEQUIPMENT, PLANT AND MACHINERYBUILDINGS AND STRUCTURES

Per i od

ACTUAL AND EXPECTED EXPENDITURE, By type of asset and indus t r y —Curren t pr ices1



2 4791 3101 2351 4641 3252 05411 202June2 5291 2881 1341 3311 3532 07412 723March2 6901 2801 0271 2431 3642 11414 224December2 9331 2889091 2741 3352 14315 601September

2015–163 0721 3338411 4561 2772 16816 921June3 1291 3988371 6051 2422 16918 384March

2014–15


2 4021 3261 2401 5111 3142 16610 684June2 6541 2891 1781 3871 3341 92212 742March2 5481 2639801 1341 3962 15514 816December2 8521 2829141 2271 3592 25315 097September

2015–163 3461 3589011 5241 2472 05216 818June3 0271 3426941 5891 2332 15818 795March

2014–15


9 4465 1443 5373 0375 6758 47141 705Total fin year4 3882 686^1 716^1 4152 7814 01719 1556 mths to Jun5 0582 4571 821^1 6222 8944 45322 5516 mths to Dec

2016–17


2 5221 449^1 207^1 7711 3792 29510 938June2 113984^1 030^1 2661 1341 74011 400March2 8131 447^1 143^1 1741 5432 37816 227December3 0061 282899^1 0751 3502 09514 888September

2015–163 2751 535899^1 7871 3122 18017 242June2 607994608^1 4381 0511 95716 811March

2014–15

10 4545 1634 2795 2865 4078 50753 4522015–1612 4955 6793 4496 2795 0978 62876 1172014–15


$m$m$m$m$m$m$m

Transport,

Postal and

Warehousing

Retail

Trade

Wholesale

TradeConstruction

Electricity, Gas,

Water and

Waste ServicesManufacturingMining

Pe r i od

ACTUAL AND EXPECTED EXPENDITURE, By deta i l ed indus t r y —Curren t pr ices2



30 1532 0581 1163 2721 0251 613June31 3682 0421 0313 2161 0091 638March32 6372 0179413 1479881 602December33 8801 9888883 0429721 508September

2015–1635 2691 9598802 9489661 449June36 9591 9098902 9769651 455March

2014–15


29 6352 0121 0873 2591 0651 568June31 4292 0571 0783 2029201 668March33 3272 0939913 2481 0811 623December32 9251 8536872 8939371 570September

2015–1635 7162 0471 0693 1279251 301June36 8561 9038352 7531 0191 509March

2014–15


105 1736 0002 5439 9502 9866 680Total fin year49 589^2 646^1 281^4 7311 5613 2116 mths to Jun55 584^3 354^1 262^5 2191 4243 4696 mths to Dec

2016–17


31 1292 269^1 1473 5001 1241 527June27 6241 740^9702 8047731 671March36 2932 140^1 0453 5101 1731 701December32 409^1 847^6772 8009551 535September

2015–1637 4112 404^1 1393 3839801 275June32 547^1 564^7442 4168531 505March

2014–15

127 4557 9963 83812 6144 0256 4342015–16150 6557 4763 63912 1923 7945 8102014–15


$m$m$m$m$m$m

Total

Other

Selected

Services

Professional,

Scientific and

Technical Services

Rental, Hiring

and Real

Estate Services

Financial and

Insurance

Services

Information

Media and

Telecommunications

Pe r i od

ACTUAL AND EXPECTED EXPENDITURE, By deta i l ed indus t r y —Curren t pr ices co n t i n u e d2


(a) Reference year for chain volume measures is 2013-14.

29 13016 2901 95010 86829 13012 13217 078June30 27215 8841 96612 42330 27211 90318 365March31 47315 5842 00313 88731 47311 79219 673December32 73715 4482 04015 24932 73711 93420 803September

2015–1634 33415 6452 09616 59334 33412 40821 926June36 29216 0862 13418 07236 29212 95123 340March37 99516 3082 17019 51637 99513 18924 806December38 87616 0472 19320 63538 87613 05425 823September

2014–1539 06215 3972 21021 45539 06212 72126 342June

2013–14

TR E N D



2014–1538 98715 1542 19721 63238 98712 49726 494June

2013–14

SE A S O N A L L Y AD J U S T E D



2014–1540 62316 0632 33622 22640 62313 43727 191June

2013–14

122 91162 7508 06352 098122 91147 52075 3912015–16148 18964 7478 50174 942148 18952 00696 1832014–15157 95858 3369 22990 393157 95851 158106 8002013–14164 06057 5179 91496 636164 06058 242105 9312012–13

OR I G I N A L

$m$m$m$m$m$m$m

Total

Other

Selected

IndustriesManufacturingMiningTotal

Equipment,

Plant and

Machinery

Buildings

and

Structures

INDUSTRYASSET

Per i od

ACTUAL EXPENDITURE, By type of asset and indus t r y —Chain volume measures (a )3


(a) Reference year for chain volume measures is 2013-14.

–3.82.6–0.8–12.5–3.81.9–7.0June–3.81.9–1.8–10.5–3.80.9–6.6March–3.90.9–1.8–8.9–3.9–1.2–5.4December–4.7–1.3–2.7–8.1–4.7–3.8–5.1September

2015–16–5.4–2.7–1.8–8.2–5.4–4.2–6.1June–4.5–1.4–1.6–7.4–4.5–1.8–5.9March–2.31.6–1.1–5.4–2.31.0–3.9December–0.54.2–0.7–3.8–0.52.6–2.0September

2014–15–0.45.2–2.9–3.8–0.41.6–1.3June

2013–14

TR E N D

–5.40.812.9–16.1–5.42.8–10.6June–5.42.7–10.3–13.4–5.40.3–8.7March0.95.2–5.0–2.60.91.90.3December

–8.6–8.78.0–10.5–8.6–7.7–9.1September2015–16

–3.94.6–6.8–10.7–3.9–3.1–4.3June–4.7–5.7–7.2–3.6–4.7–1.3–6.5March–3.30.89.3–7.9–3.3–0.9–4.5December0.78.0–4.6–3.90.76.3–1.9September

2014–152.03.4–5.51.82.0–1.53.7June

2013–14


12.924.232.1–4.012.929.03.0June–23.4–17.7–26.4–29.2–23.4–21.2–24.8March11.615.012.78.111.614.99.8December

–14.1–15.4–5.4–13.9–14.1–16.9–12.5September2015–16

13.928.99.12.313.921.69.9June–22.5–24.0–23.5–21.1–22.5–22.7–22.4March

6.49.429.01.96.411.63.8December–4.70.8–16.4–7.5–4.7–3.9–5.2September

2014–1519.926.010.716.919.923.118.4June

2013–14

–17.1–3.1–5.2–30.5–17.1–8.6–21.62015–16–6.211.0–7.9–17.1–6.21.7–9.92014–15–3.71.4–6.9–6.5–3.7–12.20.82013–142.8–5.3–28.513.62.8–0.24.52012–13

OR I G I N A L

%%%%%%%

Total

Other

Selected

IndustriesManufacturingMiningTotal

Equipment,

Plant and

Machinery

Buildings

and

Structures

INDUSTRYASSET

Per i od

ACTUAL EXPENDITURE, By type of asset and indus t r y —Percentage change, Cha in volume

measures (a )4


nya not yet available(a) Ratio of actual expenditure for the financial year to each progressive estimate for the financial year. See paragraphs 26 to 29 of the Explanatory Notes.

nyanyanyanya–9.1–12.6–18.22016–17–15.4–15.1–18.3–18.0–22.8–24.3–18.22015–16

–4.6–8.2–9.7–8.2–7.2–11.3–17.12014–15–1.60.20.4–2.7–9.8–10.2–8.82013–143.72.42.83.119.323.823.02012–13

29.728.325.132.719.731.432.52011–12

TO T A L ( P e r c e n t a g e ch a n g e o v e r c o r r e s p o n d i n g e s t i m a t e f o r p r e v i o u s f i n a n c i a l y e a r )

1.001.001.031.021.101.221.242015–161.001.011.000.991.001.091.202014–151.000.970.950.950.981.011.042013–141.000.990.970.940.900.930.972012–131.000.970.960.941.031.111.152011–12

TO T A L (R ea l i s a t i o n R a t i o ) (a)

nyanyanyanya105 17391 30983 9372016–17127 455127 182123 245124 722115 704104 499102 5712015–16150 655149 814150 798152 094149 948138 060125 3782014–15157 958163 118166 985165 702161 621155 691151 2652013–14160 530162 789166 308170 227179 279173 457165 8922012–13154 841158 958161 701165 180150 305140 108134 8742011–12

TO T A L ($ m i l l i o n )

1.001.051.121.161.291.481.502015–161.001.041.071.151.151.281.462014–151.001.001.061.091.141.231.232013–141.001.031.061.071.061.161.212012–131.001.001.030.991.081.291.352011–12

EQ U I P M E N T , P L A N T AN D MA C H I N E R Y (R ea l i s a t i o n R a t i o ) (a)

nyanyanyanya40 81534 76833 3742016–1750 22348 02344 90143 23838 94433 89333 4742015–1652 92550 75449 26446 22146 10541 27336 3262014–1551 15851 10048 46746 72744 83841 64941 4902013–1456 12654 75152 89152 59652 84148 18546 2522012–1356 72856 98354 90557 18452 71043 81541 9202011–12

EQ U I P M E N T , P L A N T AN D MA C H I N E R Y ($ m i l l i o n )

1.000.980.990.951.011.091.122015–161.000.990.960.920.941.011.102014–151.000.950.900.900.910.940.972013–141.000.970.920.890.830.830.872012–131.000.960.920.911.011.021.062011–12

BU I L D I N G S AN D ST R U C T U R E S (R ea l i s a t i o n R a t i o ) (a)

nyanyanyanya64 35756 54150 5632016–1777 23279 15978 34481 48476 75970 60769 0972015–1697 72999 060101 534105 873103 84296 78789 0512014–15

106 800112 018118 518118 975116 782114 042109 7752013–14104 404108 037113 418117 631126 439125 271119 6402012–13

98 113101 975106 796107 99697 59496 29292 9532011–12

BU I L D I N G S AN D ST R U C T U R E S ($ m i l l i o n )

12 months

actual

(Estimate 7)

9 months actual

and 3 months

expectation as

reported in Apr-May

(Estimate 6)

6 months actual

and 6 months

expectation as

reported in Jan-Feb

(Estimate 5)

3 months actual

and 9 months

expectation as

reported in Oct-Nov

(Estimate 4)

12 months

expectation as

reported in

Jul-Aug

(Estimate 3)

12 months

expectation as

reported in Apr-May

of previous

financial year

(Estimate 2)

12 months

expectation as

reported in Jan-Feb

of previous

financial year

(Estimate 1)

F inanc i a l

Yea r

EXPECTED EXPENDITURE AND REAL ISAT ION RAT IOS, By type of asset —Current Pr i ces5


nya not yet available(a) Ratio of actual expenditure for the financial year to each progressive estimate for the financial year. See paragraphs 26 to 29 of the Explanatory Notes.

1.001.041.101.161.241.451.532015–161.001.041.071.131.181.301.492014–151.001.001.051.111.171.271.322013–141.001.021.051.081.151.291.342012–131.001.011.071.031.131.301.352011–12

OT H E R SE L E C T E D IN D U S T R I E S (R ea l i s a t i o n R a t i o ) (a)

nyanyanyanya54 99747 60243 2312016–1765 49663 01959 75056 41352 78145 03242 7302015–1665 91063 28061 57658 38155 96850 62444 3642014–1558 33658 22855 39852 67249 65045 90544 2032013–1456 35055 50253 48252 08848 88243 77242 1432012–1359 61859 25855 64157 99252 69245 86144 3242011–12

OT H E R SE L E C T E D IN D U S T R I E S ( $ m i l l i o n )

1.001.001.031.041.071.331.412015–161.000.991.021.031.071.191.272014–151.000.971.020.981.071.111.182013–141.000.981.030.940.830.910.912012–131.000.990.960.960.981.111.152011–12

MA N U F A C T U R I N G (R ea l i s a t i o n R a t i o ) (a)

nyanyanyanya8 4717 2696 5632016–178 5078 4688 2448 1997 9316 4106 0212015–168 6288 7038 4708 3868 0537 2346 8142014–159 2299 5249 0599 4228 5928 3047 8382013–149 4709 7009 20410 07411 41410 39410 3532012–13

13 22613 33013 81213 81013 47611 86711 5452011–12

MA N U F A C T U R I N G ($ m i l l i o n )

1.000.960.970.890.971.010.992015–161.000.980.940.890.890.951.032014–151.000.950.880.870.870.890.912013–141.000.970.910.880.800.790.842012–131.000.950.890.880.971.001.042011–12

MI N I N G (R ea l i s a t i o n R a t i o ) (a)

nyanyanyanya41 70536 43834 1432016–1753 45255 69655 25160 11054 99153 05853 8202015–1676 11777 83280 75285 32785 92780 20174 1992014–1590 39395 365102 528103 608103 379101 48299 2242013–1494 71097 587103 622108 065118 984119 290113 3962012–1381 99786 37092 24893 37784 13782 38079 0042011–12

MI N I N G ( $ m i l l i o n )

12 months actual

(Estimate 7)

9 months

actual and

3 months

expectation as

reported in

Apr-May

(Estimate 6)

6 months

actual and

6 months

expectation as

reported in

Jan-Feb

(Estimate 5)

3 months

actual and

9 months

expectation as

reported in

Oct-Nov

(Estimate 4)

12 months

expectation as

reported in

Jul-Aug

(Estimate 3)

12 months

expectation as

reported in

Apr-May of

previous

financial year

(Estimate 2)

12 months

expectation as

reported in

Jan-Feb of

previous

financial year

(Estimate 1)Financ i a l Yea r

EXPECTED EXPENDITURE AND REAL ISAT ION RAT IOS, By indust r y —Current pr i ces6


(a) For more information on Realisation Ratios see paragraphs 26 to 29 of the Explanatory Notes.

1.081.071.010.962015–161.001.031.020.992014–150.891.010.890.972013–140.930.930.950.952012–130.921.010.910.902011–12

Total

1.221.201.161.102015–161.161.181.171.152014–151.111.151.011.062013–141.121.141.061.052012–131.161.121.020.972011–12

Other selected industries

1.071.041.021.002015–161.041.070.970.972014–151.041.100.890.952013–141.060.880.910.842012–130.910.970.970.912011–12

Manufacturing

0.930.960.830.842015–160.880.930.910.892014–150.770.930.820.932013–140.830.840.890.912012–130.810.940.850.852011–12

Mining

TY P E OF IN D U S T R Y

1.081.071.010.962015–161.001.031.020.992014–150.891.010.890.972013–140.930.930.950.952012–130.921.010.910.902011–12

Total

1.281.281.191.132015–161.171.151.181.152014–151.121.161.001.082013–141.141.071.101.042012–131.071.050.980.942011–12

Equipment, Plant and Machinery

0.970.970.900.882015–160.920.970.950.932014–150.810.950.840.932013–140.850.870.880.902012–130.860.990.880.882011–12

Buildings and Structures

TY P E OF AS S E T

30 June (collected

in December survey)

31 December (collected

in June Survey)

30 June (collected

in March Survey)

31 December (collected

in September Survey)

6 MONTHS ENDING3 MONTHS ENDING

Financ i a l Yea r

RAT IOS OF ACTUAL TO SHORT TERM EXPECTAT IONS (a) , By type of asset and

indust r y —Current pr i ces7


^ estimate has a relative standard error of 10% to less than 25% and should be used with caution* estimate has a relative standard error of 25% to 50% and should be used with cautionnp not available for publication but included in totals where applicable, unless otherwise indicated

17 482931 155917 3776863 0211 8473 280June18 816901 200898 5036713 3731 8263 041March20 125921 266899 6316373 7671 8112 833December21 222981 3138510 5535944 1171 8152 671September

2015–1622 2981011 3417311 1336234 5621 8542 640June23 698951 3946311 5937515 2551 8412 718March25 163841 5106211 8159076 1951 7822 811December26 129791 5886511 6959847 1211 7242 835September

2014–1526 543801 6176511 4929477 8961 6842 719June

2013–14

TR E N D

16 910npnpnp6 7316812 9691 8403 274June18 910npnpnp8 7036673 2451 8553 087March20 756npnpnp10 0156684 0251 7822 845December20 552npnpnp10 1825933 9381 8032 492September

2015–1622 548npnpnp11 1405664 6471 8602 877June23 557npnpnp11 8957435 0771 8542 485March25 160npnpnp11 5019496 2901 8492 935December26 320npnpnp11 9229987 1291 5692 838September

2014–1526 692npnpnp11 4949467 9331 8162 740June

2013–14


17 412^1041 239^996 901^6903 0511 9353 393June16 896811 067767 859^5722 7841 6672 791March22 533901 33110510 793^7494 4711 9223 072December20 3911011 3597710 104^5963 9531 7572 444September

2015–1623 2421071 3168711 459^5764 7691 9502 978June21 141881 3174410 7636394 3751 6672 247March27 199891 5686912 298^1 0596 9641 9883 164December26 147761 630*7211 874^1 0007 1601 5402 796September

2014–1527 415721 601^5811 8539718 1351 8932 832June

2013–14

77 2323764 99635735 6572 60714 2597 28011 7002015–1697 7293605 83127246 3953 27323 2687 14511 1852014–15

106 8003186 33724846 0603 34634 0646 8229 6062013–14104 4044216 79935345 0352 91231 6677 08210 1342012–13

OR I G I N A L

$m$m$m$m$m$m$m$m$m

Total

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South

AustraliaQueenslandVictoria

New

South

Wales

Pe r i od

ACTUAL EXPENDITURE ON BUILDINGS AND STRUCTURES, By state —Current pr i ces8


^ estimate has a relative standard error of 10% to less than 25% and should be used with caution* estimate has a relative standard error of 25% to 50% and should be used with cautionnp not available for publication but included in totals where applicable, unless otherwise indicated

12 685961361501 8716192 3743 0454 380June12 552961291451 8626422 3823 0734 218March12 5131031391441 8476822 4653 0884 067December12 6591091741491 8477202 6433 0693 972September

2015–1612 9711032361571 9367442 8373 0003 958June13 262932951612 1097492 9512 9043 983March13 277893131522 2797382 9712 8243 896December13 065922891412 4027152 9162 7713 718September

2014–1512 765942481392 4076682 8972 7233 571June

2013–14

TR E N D



2014–1512 527npnpnp2 3876792 8172 8113 400June

2013–14


13 717^109^164^1661 9446472 8583 2824 549June10 72865*97^1191 609^5671 9152 6533 702March13 760^991341522 081^7642 5723 3854 574December12 018^1451841501 796^6632 5292 9213 630September

2015–1614 169^111251^1691 9678273 1543 3164 375June11 406*61237^1261 839^618^2 6092 4943 421March14 458*883521812 571^8733 0913 0444 258December12 893*133^326^1472 3406572 8782 6473 765September

2014–1513 451^742201162 5127123 2083 0453 565June

2013–14

50 2234195795867 4302 6419 87312 24016 4552015–1652 9253931 1666238 7172 97511 73211 50115 8192014–1551 1583538595969 8862 67112 08211 02913 6822013–1456 12652564567313 1342 62613 40411 14613 9742012–13

OR I G I N A L

$m$m$m$m$m$m$m$m$m

Total

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South


New

South

Wales

Pe r i od

ACTUAL EXPENDITURE ON EQUIPMENT, PLANT AND MACHINERY, By state —Curren t pr ices9


* estimate has a relative standard error of 25% to 50% and shouldbe used with caution

^ estimate has a relative standard error of 10% to less than 25%and should be used with caution



2014–1539 3081741 86520313 8991 61410 7934 4076 290June

2013–14

TR E N D



2014–1539 2191471 81216513 8811 62510 7504 6286 140June

2013–14


31 129^2131 4032658 8451 3375 9085 2167 942June27 6241461 164^1959 468^1 1394 7004 3206 493March36 2931891 46525712 8741 5137 0425 3067 646December32 4092461 54322711 9001 2606 4824 6776 074September

2015–1637 4112181 566^25613 4261 4037 9235 2667 353June32 547^1491 554^17012 6031 2586 9844 1625 668March41 657^1771 92125014 8691 93110 0555 0327 422December39 039*2091 955^21914 214^1 65710 0384 1876 561September

2014–1540 866^1461 82117414 3641 68311 3434 9386 396June

2013–14

127 4557945 57594343 0875 24824 13219 51928 1552015–16150 6557536 99689555 1126 24935 00018 64627 0042014–15157 9586727 19684455 9466 01746 14717 85023 2872013–14160 5309467 4441 02658 1695 53745 07218 22824 1082012–13

OR I G I N A L

$m$m$m$m$m$m$m$m$m

Total

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South


New

South

Wales

Pe r i od

ACTUAL TOTAL EXPENDITURE, By sta te —Cur ren t pr ices10


(a) Reference year for chain volume measures is 2013-14.np not available for publication but included in totals where applicable,unless otherwise indicated


2015–1621 926991 3127310 9866204 4561 8312 573June23 340931 3556311 4367495 1611 8212 671March24 806831 4656211 6459066 1111 7642 775December25 823781 5526511 5449827 0511 7102 805September

2014–1526 342791 6026411 3919447 8451 6782 697June

2013–14

TR E N D



2014–1526 494npnpnp11 3829427 8971 8022 719June

2013–14



2015–1622 8341051 2928711 3305714 6321 9232 895June20 786861 2804410 6386344 2591 6452 200March26 775881 5156912 1281 0516 8501 9653 109December25 789751 5897211 7429967 0381 5262 753September

2014–1527 191711 5895811 7459688 0741 8752 810June

2013–14

75 3913654 90434735 2132 56713 6317 17211 1902015–1696 1833555 67627145 8373 25122 7787 05810 9572014–15

106 8003186 33724846 0603 34634 0646 8229 6062013–14105 9314306 88335245 5922 95832 2667 15010 2912012–13

OR I G I N A L

$m$m$m$m$m$m$m$m$m

Total

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South


New

South

Wales

Pe r i od

ACTUAL EXPENDITURE ON BUILDINGS AND STRUCTURES, By state —Chain vo lume

measures (a )11


(a) Reference year for chain volume measures is 2013-14.np not available for publication but included in totals whereapplicable, unless otherwise indicated



2014–1512 721952461382 3876642 8862 7183 563June

2013–14

TR E N D



2014–1512 497npnpnp2 3716762 8092 8083 394June

2013–14




2014–1513 437742191162 5097103 2043 0393 564June

2013–14

47 5203995425546 9432 4829 34411 62715 6282015–1652 0063881 1476138 5712 91511 52611 29815 5472014–1551 1583538595969 8862 67112 08211 02913 6822013–1458 24253567870013 7852 73513 92911 49214 4232012–13

OR I G I N A L

$m$m$m$m$m$m$m$m$m

Total

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South


New

South

Wales

Pe r i od

ACTUAL EXPENDITURE ON EQUIPMENT, PLANT AND MACHINERY, By state —Chain volume

measures (a )12


(a) Reference year for chain volume measure is 2013-14.



2014–1539 0621741 84720113 7791 60910 7274 3966 260June

2013–14

TR E N D



2014–1538 9871471 79716413 7541 61910 7014 6096 115June

2013–14




2014–1540 6231461 80817414 2561 67911 2754 9136 375June

2013–14122 9117645 44690142 1575 04922 97518 79926 8192015–16148 1897436 82388454 4086 16634 30418 35626 5042014–15157 9586727 19684455 9466 01746 14717 85023 2872013–14164 0609657 5691 05359 2595 68846 15918 64224 7162012–13

OR I G I N A L

$m$m$m$m$m$m$m$m$m

Total

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South


New

South

Wales

Pe r i od

ACTUAL TOTAL EXPENDITURE, By sta te —Chain volume measures (a )13


EF F E C T OF NE W SE A S O N A L L Y AD J U S T E D ES T I M A T E S ON TR E N D ES T I M A T E S

–3.829 139–3.029 385–3.829 130June–3.630 285–3.430 303–3.830 272March

2016

–4.031 422–4.231 371–3.931 473December–4.732 737–4.732 737–4.732 737September

2015%$m%$m%$m

(2) falls by 2.0%

on this quarter

(1) rises by 2.0%

on this quarter

WHAT IF NEXT QUARTER'SSEASONALLY ADJUSTED ESTIMATE:

Trend as

published

Jun2014

Jun2015

Jun2016

$m

29000

32500

36000

39500

Trend(1)(2)

TO T A L CA P I T A L EX P E N D I T U R E

1.212 0522.112 1611.912 132June1.211 9061.411 9140.911 903March

2016


2015%$m%$m%$m

(2) falls by 1.9%

on this quarter

(1) rises by 1.9%

on this quarter


Trend as

published

Jun2014

Jun2015

Jun2016

$m

11700

12100

12500

12900

13300

Trend(1)(2)

EQ U I P M E N T , P L A N T AN D MA C H I N E R Y

–7.017 078–6.317 217–7.017 078June–6.618 360–6.418 371–6.618 365March

2016


2015%$m%$m%$m

(2) falls by 2.1%

on this quarter

(1) rises by 2.1%

on this quarter


Trend as

published

Jun2014

Jun2015

Jun2016

$m

16500

20000

23500

27000

Trend(1)(2)

BU I L D I N G S AN D ST R U C T U R E S

Recent seasonally adjusted and trend estimates are likely to be revised when original

estimates for subsequent quarters become available. The approximate effects of possible

scenarios on trend estimates for capital expenditure in chain volume terms are presented

below by illustrating the impact if next quarter's seasonally adjusted estimate rises or falls

by a specified percentage (based on the historical average of movements in seasonally

adjusted estimates). For further information, see paragraphs 41 and 42 in the

Explanatory Notes.

TR E N D RE V I S I O N S


W H A T I F . . . ? RE V I S I O N S TO TR E N D ES T I M A T E S

2 The Survey of New Capital Expenditure includes the following industries classified

according to the Australian and New Zealand Standard Industrial Classification, ANZSIC,

2006:

Mining (Division B)

Manufacturing (Division C)

Other selected industries:

Electricity, Gas, Water and Waste Services (Division D)

Construction (Division E)

Wholesale Trade (Division F)

Retail Trade (Division G)

Transport, Postal and Warehousing (Division I)

Information Media and Telecommunications (Division J)

Finance and Insurance (Division K, excluding ANZSIC class 6330,

Superannuation Funds)

Rental, Hiring and Real Estate Services (Division L)

Professional, Scientific and Technical Services (Division M)

Other selected services:

Accommodation and Food Services (Division H)

Administrative and Support Services (Division N)

Arts and Recreation Services (Division R)

Other Services (Division S)

3 The survey excludes the following industries:

Agriculture, Forestry and Fishing (Division A)

Public Administration and Safety (Division O)

Education and Training (Division P)

Health Care and Social Assistance (Division Q)

Superannuation Funds (Class 6330)

4 The scope excludes public sector business units (i.e. all departments, authorities and

other organisations owned and controlled by Commonwealth, State and Local

Government).

5 The Survey of New Capital Expenditure, like most ABS economic collections, takes its

frame from Employing and Non-Employing Units on the ABS Business Register which is

primarily based on ABN registrations to the Australian Business Register, which is

managed by the Australian Taxation Office (ATO). The frame is updated quarterly to take

account of new businesses and changes in the characteristics of businesses, such as

industry and size.

6 Businesses which have ceased employing are identified when the Australian Taxation

Office (ATO) cancels their Australian Business Number (ABN) registration. In addition,

businesses which do not remit for Goods and Services Tax and/or Income Tax

Withholding purposes for the previous five quarters, are removed from the frame.

7 As noted, the Survey frame includes Employing and Non-Employing Units on the ABS

Business Register. However, micro non-employing businesses are excluded. These are

very small units on the ABS Business Register, by standard measures of size. While there

are a substantial number of these businesses, it is expected that they would not

contribute significantly to the estimates, although the impact would vary from industry

to industry.

SC O P E OF TH E SU R V E Y

1 This publication contains estimates of actual and expected new capital expenditure

by private businesses for selected industries in Australia. The series have been compiled

from data collected by the Australian Bureau of Statistics (ABS) in its quarterly Survey of

New Capital Expenditure.



E X P L A N A T O R Y N O T E S

PERIOD TO WHICH REPORTED DATA RELATES

Period to which reported data relates

Survey Quarter Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun

December 2014

March 2015

June 2015

September 2015

December 2015

March 2016

June 2016

E1

Act E2Act E1

Act Act Act

Act Act Act Act

Act

Act

Act

Act

Act

Act Act

Act Act Act

E1

E1 E2

E1 E2

E1 E2

E1

2014-15 2015-16 2016-17

E2

E2

E2

12 Surveys are conducted in respect of each quarter and returns are completed in the

8 or 9 week period after the end of the quarter to which the survey data relate (e.g. June

quarter survey returns are completed during July and August).

13 Businesses are requested to provide 3 basic figures each survey:

Actual expenditure incurred during the reference period (Act)

A short term expectation (E1) and a longer term expectation (E2).

T I M I N G AN D CO N S T R U C T I O N

OF SU R V E Y CY C L E

10 The survey is conducted on a quarterly basis. It is based on a random sample of

approximately 8,500 units which is stratified by industry, state/territory and derived

employment size. The figures obtained from the selected units are supplemented by data

from units which have large capital expenditure and are outside the sample framework,

or not adequately covered by it.

11 Respondents are asked to provide data on the same basis as their own management

accounts. Where a selected unit does not respond in a given survey period, a value is

estimated. If data are subsequently provided, the estimated value is replaced with

reported data. Aggregates are calculated from all data using the ‘number raised’

estimation technique. Data are edited at both individual unit level and at aggregate level.

SU R V E Y ME T H O D O L O G Y

8 In the Survey of New Capital Expenditure, the statistical unit used to represent

businesses, and for which statistics are reported, is the Australian Business Number

(ABN) unit, in most cases. The ABN unit is the business unit which has registered for an

ABN, and thus appears on the ATO administered Australian Business Register. This unit

is suitable for ABS statistical needs when the business is simple in structure.

9 For more significant and diverse businesses where the ABN unit is not suitable for

ABS statistical needs, the statistical unit used is the Type of Activity Unit (TAU). A TAU is

comprised of one or more business entities, sub-entities or branches of a business entity

within an Enterprise Group that can report production and employment data for similar

economic activities. When a minimum set of data items is available, a TAU is created

which covers all the operations within an industry subdivision (and the TAU is classified

to the relevant subdivision of the Australian and New Zealand Standard Industrial

Classification (ANZSIC)). Where a business cannot supply adequate data for each

industry, a TAU is formed which contains activity in more than one industry subdivision

and the TAU is classified to the predominant ANZSIC subdivision. Further details about

the ABS economic statistical units used in this survey, and in other ABS economic

surveys (both sample surveys and censuses), can be found in Chapter 2 of the Standard

Economic Sector Classifications of Australia (SESCA) 2008 (cat. no. 1218.0).

ST A T I S T I C A L UN I T


E X P L A N A T O R Y N O T E S continued

22 The chain volume measures appearing in this publication are annually reweighted

chain Laspeyres indexes referenced to current price values in the chosen reference year

(currently 2013-14). The current price values may be thought to be the product of a price

and quantity. The value in chain volume terms can be derived by linking together

movements in volumes, calculated using the average prices of the previous financial year

CH A I N VO L U M E ME A S U R E S

20 The Australian and New Zealand Standard Industrial Classification (ANZSIC) has

been developed for use in both countries for the production and analysis of industry

statistics. For more information, users are referred to Australian and New Zealand

Standard Industrial Classification (ANZSIC), 2006 (cat. no. 1292.0).

21 In order to classify new capital expenditure by industry, each statistical unit (as

defined above) is classified to the (ANZSIC) industry in which it mainly operates.

CL A S S I F I C A T I O N BY

IN D U S T R Y

17 The survey frames and samples are revised each quarter to ensure that they remain

representative of the survey population. The timing for creating each quarter's survey

frame is consistent with that of other ABS business surveys. This provides for greater

consistency when comparing data across surveys.

18 Additionally, with these revisions to the sample, some of the units from the

sampled sector are rotated out of the survey and are replaced by others to spread the

reporting workload equitably.

19 Adjustments are included in the estimates to allow for lags in processing new

businesses to the ABS Business Register, and the omission of some businesses from the

register. The majority of businesses affected and to which adjustments apply are small in

size. As an indication of the size of these adjustments, in the June quarter 2016 they

represented about 0.83% of the total estimate of new capital expenditure.

SA M P L E RE V I S I O N

14 This survey cycle facilitates the formation of estimates of expenditure for financial

years (12 months ending 30 June) which are presented in tables 5 and 6 of this

publication. For example, as the previous table shows for 2015-2016:

the first estimate was available from the December 2014 survey as a longer term

expectation (E2)

the second estimate was available from the March 2015 survey (again as a longer

term expectation)

the third estimate was available from the June 2015 survey as the sum of two

expectations (E1 + E2)

in the September 2015, December 2015 and March 2016 surveys the fourth, fifth and

sixth estimates, respectively, are derived from the sum of actual expenditure (for

that part of the year completed) and expected expenditure (for the remainder of the

year) as recorded in the current quarter's survey

the final (or seventh) estimate from the June quarter 2016 survey is derived from the

sum of the actual expenditure for each of the four quarters in the 2015–16 financial

year.

15 Businesses are requested to provide actual expenditure data by state/territory each

quarter. Prior to 2002, businesses were also asked to provide expected expenditure data

by state/territory each December quarter. Since 2002 state/territory expectations data for

businesses which operate in more than one state or territory are pro-rated to

states/territories based on actual expenditure for the December quarter in each state or

territory. Expectations data for businesses operating within a single state/territory are

allocated to that state/territory. Expectations for businesses which report no actual

expenditure for the December quarter are split equally among the states in which the

businesses are known to operate.

16 These expectations data by state/territory are not included in this publication but

are released on the ABS Website.

T I M I N G AN D CO N S T R U C T I O N

OF SU R V E Y CY C L E continued



26 Once actual expenditure for a financial year is known, it is useful to investigate the

relationship between each of the prior six estimates of expenditure for that financial year

and the actual expenditure (see page 7 for an explanation of the derivation of the seven

estimates). The resultant realisation ratios (subsequent actual expenditure divided by

expected expenditure) then indicate how much expenditure was actually incurred

against the amount expected to be incurred at the various times of reporting. Realisation

ratios can also be formed separately for three or six month expectations as well as the 12

month E2 estimates or combinations of estimates containing at least some expectation

components (e.g. six months actual and six months expected expenditure).

27 Realisation ratios provide an important tool in understanding and interpreting

expectation statistics for future periods. The application of realisation ratios enables the

adjustment of expectation data for known under (or over) realisation patterns in the past

and hence provides a valid basis for comparison with other expectation data and actual

expenditure estimates. Once this has been done the predictions can be more validly

compared with each other and with previously derived estimates of actual expenditure

for earlier years. For example, if one wished to make a prediction about actual

expenditure for 2016–17 based on the forthcoming September 2016 survey results and

compare this with 2015-16 expenditure, it is necessary to apply the relevant realisation

factors to the expectation to put both estimates on the same basis.

28 There are many ways in which realisation ratios can be applied to make predictions

of actual expenditure for a future period. A range of realisation ratios for both type of

asset and industry estimates is provided in tables 5 and 6.

29 In using realisation ratios to adjust expectations data, attention should be paid to

the range of values that has occurred in the past. A wide range of values is indicative of

volatility in the realisation patterns and hence greater caution should be exercised

regarding the predictive value of the expectation, even after adjustment by application of

realisation ratios. This is particularly the case with the early 12 month expectations for

the following financial year collected in the December and March surveys.

DE R I V A T I O N AN D

US E F U L N E S S OF

RE A L I S A T I O N RA T I O S

and applying compound movements to the current price estimates of the reference year.

Each year's quarter-to-quarter growth rates in the chain volume series are based on the

prices of the previous financial year, except for those quarters of the latest incomplete

year which are based upon the second most recent financial year. Quarterly chain

volume estimates for a financial year sum to the corresponding annual estimate.

23 With each release of the September quarter issue of this publication, a new base

year is introduced and the reference year is advanced one year to coincide with it. With

the release of the September quarter 2015 issue of this publication, the chain volume

measures currently have 2013-14 as their base year rather than 2012-13.

24 A change in the reference year changes levels but not growth rates for all periods. A

change in the base year can result in revisions, small in most cases, to growth rates for

the last year.

25 Chain volume measures are not generally additive. In other words, component

chain volume measures do not, in general, sum to a total in the way original current

price components do. For capital expenditure data, this means that the original chain

volume estimates for the states will not add to total capital expenditure for Australia. In

order to minimise the impact of this, the ABS uses the latest base year as the reference

year. By adopting this approach, additivity does exist for the quarters following the

reference year and non-additivity is relatively small for the quarters in the reference year

and those immediately preceding it. For further information on chain volume measures

refer to Information Paper: Introduction of Chain Volume Measures in the Australian

National Accounts (cat. no. 5248.0)

CH A I N VO L U M E ME A S U R E S

continued



37 The quarterly original actual new capital expenditure series in this publication are

affected in varying degrees by seasonal influences. The seasonal adjustment process

estimates and removes the effects of normal seasonal variations from the original series

so that the effects of other influences can be more easily recognised.

SE A S O N A L AD J U S T M E N T

30 Estimates provided in this publication are subject to non-sampling and sampling

errors. The most common way of quantifying sampling error is to calculate the standard

error for the published estimate. Details of standard errors are on pages 38 and 39 of this

publication.

31 Estimates that have an estimated relative standard error between 10% and 25% are

annotated with the symbol '^' . These estimates should be used with caution as they are

subject to sampling variability too high for some purposes. Estimates with an RSE

between 25% and 50% are annotated with the symbol '*', indicating that the estimate

should be used with caution as it is subject to sampling variability too high for most

practical purposes. Estimates with an RSE greater than 50% are annotated with the

symbol '**' indicating that the sampling variability causes the estimates to be considered

too unreliable for general use. These annotations have only been applied to estimates

from the March quarter 2009.

32 Non-sampling errors may arise as a result of errors in the reporting, recording or

processing of the data and can occur even if there is a complete enumeration of the

population. These errors can be introduced through inadequacies in the questionnaire,

treatment of non-response, inaccurate reporting by respondents, errors in the

application of survey procedures, incorrect recording of answers, and errors in data entry

and processing.

33 Estimates for the latest quarter presented in this publication are considered

preliminary and revised estimates will be released with the next issue. As discussed in

Paragraphs 37 to 42 below, seasonally adjusted and trend estimates are also subject to

revision as data are revised and more data become available.

34 It is difficult to measure the size of non-sampling errors. However, every effort is

made in the design of the survey and development of survey procedures to minimise

their effects. In addition, respondents may have difficulties in allocating to the

appropriate state(s) expenditure on some equipment items such as mobile assets (e.g.

aircraft, bulk oil carriers, satellites, off-shore drilling platforms and large computer

installations supporting a national network). Where such difficulties exist expenditure is

allocated to the state of the businesses' head office or, in the case of aircraft, is allocated

across states in proportion to the likely use of the asset.

35 The Australian equivalents to International Financial Reporting Standards (AIFRS)

were progressively implemented in Australia from 1 January 2005. As a result, a number

of items in the financial accounts of Australian businesses were affected by changed

definitions which in turn impacted upon both Income Statements and Balance Sheets. A

range of ABS economic collections source data from financial accounts of businesses and

use those data to derive economic statistics. There have been no changes in the

associated economic definitions.

36 After monitoring data items in the immediate years following March quarter 2005 it

was concluded that most affected published data series were impacted by data breaks

but that the magnitude of such breaks could not be determined without imposing

disproportionate load upon data providers to ABS surveys and other administratively

collected data.

RE L I A B I L I T Y OF TH E

ES T I M A T E S



43 A description of the terms used in this publication is given below:

44 New capital expenditure refers to the acquisition of new tangible assets either on

own account or under a finance lease and includes major improvements, alterations and

additions. In general, this is expenditure charged to fixed tangible assets accounts

excluding expenditure on second hand assets unless these are imported for the first

time.

DE S C R I P T I O N OF TE R M S

41 The trend estimates are derived by applying a 7-term Henderson moving average to

the seasonally adjusted estimates. The 7-term Henderson moving average is symmetric,

but as the end of a time series is approached, asymmetric forms of the moving average

are applied. The asymmetric moving average has been tailored to suit the particular

characteristics of individual series and enable trend estimates for recent quarters to be

produced. Estimates of the trend will be improved at the current end of the time series

as additional observations become available. This improvement is due to the application

of different asymmetric moving averages for the most recent three quarters. As a result of

the improvement, revisions to the trend estimates will generally be observed for the

most recent three quarters.

42 There may also be revisions because of changes in the original estimates. As a result

of these revisions, the seasonally adjusted and trend estimates will also be revised. For

further information, see Information Paper: A Guide to Interpreting Time Series -

Monitoring Trend, An Overview (cat. no. 1349.0) or contact the Assistant Director,

Time Series Analysis on Canberra (02) 6252 6345 or email

<[email protected]>.

TR E N D ES T I M A T E S

38 In the seasonal adjustment process, account has been taken of normal seasonal

factors (e.g. increase in June quarter capital expenditure due to the impending end of

the financial year) to produce the seasonally adjusted estimates. Particular care should be

taken in interpreting quarterly movements in the seasonally adjusted estimates because

seasonal adjustment does not remove the effect of irregular or non-seasonal influences

(e.g. change in interest rates) and reflects the sampling and other errors to which the

original estimates are subject.

39 The revision properties of the seasonally adjusted and trend estimates can be

improved by the use of Autoregressive Integrated Moving Average (ARIMA) modelling.

The Survey of Private New Capital Expenditure uses ARIMA modelling where appropriate

for individual time series. ARIMA modelling relies on the characteristics of the series

being analysed to project future period data. The projected values are temporary,

intermediate values that are only used internally to improve the estimation of the

seasonal factors. The projected data do not affect the original estimates and are

discarded at the end of the seasonal adjustment process. For more information on the

details of ARIMA modelling see Feature article: Use of ARIMA modelling to reduce

revisions in the October 2004 issue of Australian Economic Indicators (cat. no. 1350.0).

40 Seasonally adjusted estimates by asset type for Tasmania, Northern Territory and

Australian Capital Territory are not separately available because of the high sampling

variability associated with them. They are included in totals for Australia and while a

combined residual can be derived, the measure should not be considered reliable.

SE A S O N A L AD J U S T M E N T

continued



46 The statistics for new capital expenditure shown in this publication differ from

estimates of private gross fixed capital expenditure shown in the Australian National

Accounts for the following reasons:

National Accounts estimates incorporate data from other sources as well as

information from the new capital expenditure survey. For example, annual estimates

for capital expenditure on 'machinery and equipment' are based on the ABS' annual

Economic Activity Survey combined with data from the Australian Taxation Office.

Quarterly estimates are interpolated between and extrapolated from the annual

estimates using a variety of indicators including this survey. The ABS's quarterly

Building Activity Survey and Engineering Construction Survey are the main sources

for estimating the National Accounts dwellings and other buildings and structures

items.

National Accounts estimates include capital expenditure by all private businesses

including units classified to agriculture, forestry and fishing, education, and health

and community services industries and capital expenditure on dwellings by

households. Data for these sectors are excluded from this publication.

National Accounts estimates include the value of work done on speculative

construction projects as the work is put into place. The statistics in this publication,

however, include full value of the speculative projects as new capital expenditure of

the purchases (if in scope), when the project is sold.

National accounts estimates of gross fixed capital formation relate to acquisitions

less disposals of new or existing fixed assets, whereas the survey figures are

acquisitions of new fixed tangible assets only.

47 For a more detailed explanation of the concepts and methods used in compiling

the National Accounts estimates see Australian National Accounts: Concepts, Sources

and Methods (cat. no. 5216.0).

48 The estimates of capital expenditure on buildings and other structures will differ

with estimates of Construction activity published in Construction Work Done, Australia,

Preliminary (cat. no. 8755.0). The latter publication presents estimates of building and

engineering construction work collected by the Building Activity Survey and the

Engineering Construction Survey. Estimates of construction activity are based on the

value of actual work done during the quarter of individual building or construction jobs

by builders, and do not necessarily equate to capitalisation of this work by the builders'

eventual clients. Estimates of capital expenditure in this publication are based on data

reported by businesses (that is, the builders' clients) from their financial or management

accounts for purchases of buildings and structures.

CO M P A R I S O N W I T H NA T I O N A L

AC C O U N T S AN D OT H E R AB S

ST A T I S T I C S

45 Some estimates are dissected by type of asset:

Buildings and structures: Includes industrial and commercial buildings, houses,

flats, home units, water and sewerage installations, lifts, heating, ventilating and

similar equipment forming an integral part of buildings and structures, land

development and construction site development, roads, bridges, wharves, harbours,

railway lines, pipelines, power and telephone lines. Also includes mine development

(e.g. construction of shafts in underground mines, preparation of mining and

quarrying sites for open cut extraction and other developmental operations

primarily for commencing or extending production). Excludes purchases of land,

previously occupied buildings and speculatively built projects intended for sale

before occupation:

Equipment, plant and machinery: Includes plant, machinery, vehicles, electrical

apparatus, office equipment, furniture, fixtures and fittings not forming an integral

part of buildings, durable containers, special tooling, etc. Also includes goods

imported for the first time whether previously used outside Australia or not.



53 ABS publications draw extensively on information provided freely by individuals,

businesses, governments and other organisations. Their continued cooperation is very

much appreciated; without it, the wide range of statistics published by the ABS would

not be available. Information received by the ABS is treated in strict confidence as

required by the Census and Statistics Act 1905.

AC K N O W L E D G M E N T

52 The ABS website contains most of the data included in this publication but with a

longer time series. In addition to the series in this publication, data for Manufacturing

Subdivisions and State by Industry data are also available.

AB S WE B S I T E

51 In addition to the data contained in this publication, more detailed industry and

state information may be made available on request, the cost for such a service being

dependent upon the amount of data requested. For example, data are generally available

at the ANZSIC subdivision (2 digit) level.

AB S DA T A AV A I L A B L E ON

RE Q U E S T

49 Users may also wish to refer the following publications:

Information Paper: Changes to Private New Capital Expenditure and Expected

Expenditure statistics, September 2009 (cat. no. 5625.0.55.001)

Australian National Accounts: National Income, Expenditure and Product

(cat. no. 5206.0)

Australian National Accounts: Concepts, Sources and Methods (cat. no. 5216.0)

Building Activity, Australia (cat. no. 8752.0)

Business Indicators, Australia (cat. no. 5676.0)

Business Operations and Industry Performance, Australia (cat. no. 8140.0)

Construction Work Done, Australia (cat no 8755.0)

Engineering Construction Activity, Australia (cat. no. 8762.0)

Information Paper: Australian National Accounts, Introduction of Chain Volume

and Price Indexes (cat. no. 5248.0)

50 Current publications and other products released by the ABS are available from the

Statistics View. The ABS also issues a daily Release Advice on the web site which details

products to be released in the week ahead.

RE L A T E D PU B L I C A T I O N S



553427301Australia

402023Australian Capital Territory582148Northern Territory252114Tasmania

190133118Western Australia853869South Australia

298243173Queensland22119796Victoria335270103New South Wales

553427301Total

206150122Other Selected Services15313243Professional, Scientific and Technical Services209134138Rental, Hiring and Real Estate Services

595713Financial and Insurance Services53534Information Media and Telecommunications

13311864Transport, Postal and Warehousing774559Retail Trade

1309678Wholesale Trade2462465Construction

372627Electricity, Gas, Water and Waste Services1178940Manufacturing11833115Mining

$m$m$m

Total

Equipment,

Plant and

Machinery

Buildings

and

Structures

The following example illustrates how to use the standard error to interpret a level

estimate.

Let us say that the published level estimate for total capital expenditure is $31,129 and

the calculated standard error in this case is $553m. The standard error is then used to

interpret the level estimate of $31,129.

For instance, the standard error of $553m indicates that:

There are approximately two chances in three that the real value falls within the

range $30,576m to $31,682m ($31,129m ± $553m)

There are approximately 19 chances in 20 that the real value falls within the range

$30,023m to $32,235m ($31,129m ± $1,106m)

The real value in this case is the result we would obtain if we could enumerate the total

population.

The following table shows the standard errors for June Quarter 2016 estimates.

EX A M P L E OF US E

The estimates in this publication are based on a sample drawn from units in the surveyed

population. Because the entire population is not surveyed, the published estimates are

subject to sampling error. The most common way of quantifying such sampling error is

to calculate the standard error for the published estimate or statistic.


LE V E L ES T I M A T E S


A P P E N D I X SA M P L I N G ER R O R S

486352322Australia

371923Australian Capital Territory694445Northern Territory322714Tasmania

206119168Western Australia898448South Australia

279191193Queensland247228115Victoria302250147New South Wales

486352322Total

199166147Other Selected Services13312829Professional, Scientific and Technical Services260158198Rental, Hiring and Real Estate Services

777512Financial and Insurance Services42424Information Media and Telecommunications

147124104Transport, Postal and Warehousing633948Retail Trade

10910174Wholesale Trade2782778Construction

453525Electricity, Gas, Water and Waste Services1179539Manufacturing11735114Mining

$m$m$m

Total

Equipment,

Plant and

Machinery

Buildings

and

Structures

The following example illustrates how to use the standard error to interpret a movement

estimate.

Let us say that one quarter the published level estimate for total capital expenditure is

$27,624m and the next quarter the published level estimate is $31,129m.

In this example, the calculated standard error for the movement estimate is $486m. The

standard error is then used to interpret the published movement estimate of $3,505m.

For instance, the standard error of $486m indicates that:

There are approximately two chances in three that the real movement over the

two-quarter period falls within the range $3,019m to $3,991m ($3,505m ± $486m).

There are approximately 19 chances in 20 that the real movement falls within the

range $2,533m to $4,477m ($3,505m ± $972m)

The following table shows the standard errors for June Quarter 2016 movement

estimates.

EX A MP L E OF US E

MO V E M E N T ES T I M A T E S


A P P E N D I X SA M P L I N G ER R O R S continued

www.abs.gov.auWEB ADDRESS

All statistics on the ABS website can be downloaded freeof charge.

F R E E A C C E S S T O S T A T I S T I C S

Client Services, ABS, GPO Box 796, Sydney NSW 2001POST

1300 135 211FAX

[email protected]

1300 135 070PHONE

Our consultants can help you access the full range ofinformation published by the ABS that is available free ofcharge from our website. Information tailored to yourneeds can also be requested as a 'user pays' service.Specialists are on hand to help you with analytical ormethodological advice.

I N F O R M A T I O N A N D R E F E R R A L S E R V I C E

www.abs.gov.au the ABS website is the best place fordata from our publications and information about the ABS.

INTERNET

F O R M O R E I N F O R M A T I O N . . .

© Commonwealth of Australia 2016Produced by the Australian Bureau of Statistics

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ISSN 1323–2568

5625.0 private new capital expenditure and expected ... · equipment, plant and machinery rose 3.5%...

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