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JUNE KEY FIGURES
JUNE KEY POINTS ACTUAL EXPENDITURE (VOLUME TERMS)
EXPECTED EXPENDITURE (CURRENT TERMS)
NOTES CHANGES IN THIS ISSUE A new base year, 2003-04, has been introduced into the chain volume estimates which has resulted in revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2003-04, thereby preserving additivity in the quarters after the reference year. Re-referencing affects the level of, but not the movements in, chain volume estimates.
BUILDINGS AND STRUCTURES The trend estimate for buildings and structures increased 3.8% this quarter, after two quarters of stronger growth. In seasonally adjusted terms, the estimate increased 2.3% following strong growth in the March quarter 2005. The increase this quarter is mainly driven by the Mining industry. EQUIPMENT, PLANT AND MACHINERY The trend estimate for equipment, plant and machinery increased 3.3% in the June quarter 2005. The estimate has been strong for the past five quarters, with the rate of growth easing slightly in the past two quarters. In seasonally adjusted terms, the estimate has increased 12.7% with the majority of the increase contributed by the Mining and Transport and Storage industries. MINING The trend estimate for Mining increased 6.3% this quarter, the third consecutive quarter of strong growth. There has been strong growth in seasonally adjusted terms for the past two quarters, with the current quarter showing the strongest recent growth (up 13.0%). The increase this quarter is across both asset types. MANUFACTURING The trend estimate for Manufacturing increased 4.7% in the June quarter 2005, the fourth consecutive quarter of similar growth. In seasonally adjusted terms, the estimate has increased slightly (up 1.2%) following two quarters of stronger growth. Expenditure on buildings and structures is the main contributor to this quarter's rise. OTHER SELECTED INDUSTRIES The trend estimate for Other selected industries increased 2.1% in the June quarter 2005. Seasonally adjusted, the estimate increased 8.0% which is being driven by a large increase in equipment expenditure, mainly by the Transport and Storage industry. It is offset slightly by a decrease in buildings and structures. 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 estimates appearing below relate to data contained in tables 5 and 6. Advice about the application of realisation ratios to these estimates is in paragraphs 24 to 27 of the Explanatory Notes.
Composition of Estimate TOTAL CAPITAL EXPENDITURE The final estimate for 2004-05 is $57,406m which is 12% higher than the comparable estimate for 2003-04 and 1% lower than estimate 6. Other selected industries has increased since estimate 6 (up 2%) which is being offset by falls in Mining and Manufacturing (down 6% and 2% respectively).
BUILDINGS AND STRUCTURES Estimate 7 for 2004-05 is 5% lower than estimate 6, but is 23% higher than estimate 7 for the previous financial year. All industries have decreased since estimate 6, with the exception of Construction which has increased (up 7%).
EQUIPMENT, PLANT AND MACHINERY Estimate 7 for 2004-05 is 7% higher than estimate 6 and 1% higher than the comparable estimate for 2003-04. Most industries have increased since estimate 6, with the exception of Mining and Manufacturing which have fallen 10% and 2% respectively.
MINING The final estimate for 2004-05 for Mining is 6% lower than estimate 6, but is still 11% higher than the comparable estimate for 2003-04. Both equipment, plant and machinery and buildings and structures expenditure have fallen since estimate 6.
MANUFACTURING The seventh estimate for 2004-05 is 2% lower than estimate 6, and 11% higher than estimate 7 for 2003-04. Both asset types have had small decreases since estimate 6.
OTHER SELECTED INDUSTRIES Estimate 7 for 2004-05 has increased 2% since estimate 6 and is 13% higher than estimate 7 for 2003-04. A decrease in buildings and structures has partially offset an increase in equipment, plant and machinery since estimate 6.
EXPERIMENTAL PROJECTED CAPITAL EXPENDITURE IN CURRENT PRICE TERMS PROJECTED CAPITAL EXPENDITURE SERIES The projected series below apply historical realisation ratios to contemporary expectations to convert these to quarterly figures. Trend estimates of resultant quarterly time series of actual and expected expenditure are produced.
BUILDINGS AND STRUCTURES In current price terms, trend estimates for buildings and structures have shown steady growth over the past three years. Expectations for the next year indicate that this growth will reach a peak next quarter, and then start to decline slightly over the rest of the 2005-06 financial year. Much of the decline is being driven by Manufacturing, while both Mining and Other selected industries are expecting flat growth over the next year. EQUIPMENT, PLANT AND MACHINERY Current price trend estimates for equipment, plant and machinery have had strong growth over 2004-05 financial year. However expectations indicate that this growth will flatten out over the next financial year. The recent growth is across all major industry groups, with Mining being the largest contributor to the expected decline in growth rates in 2005-06. MINING Trend estimates for Mining in current price terms have increased strongly over the past three quarters. However expectations suggest current growth rates will slow next quarter, and then flatten out over the rest of the 2005-06 financial year. Buildings and structures is the main contributor to the growth, which is expected to continue into next quarter, and will then flatten out. MANUFACTURING Manufacturing trend estimates in current price terms have shown strong growth over the 2004-05 financial year. Expectations indicate that this expenditure will reach a peak next quarter, and will start to decline slightly over the next financial year. The expected decline over the 2005-06 financial year is mainly in expenditure on buildings and structures, whilst equipment, plant and machinery expenditure is expected to be relatively flat. OTHER SELECTED INDUSTRIES The current price trend estimate for Other selected industries has shown strong growth in recent quarters. Expectations suggest that the growth rate of recent quarters will decline over the 2005-06 financial year. Most industry components are expecting a decline in growth rates, with the exception of Transport and Storage and Finance and Insurance where growth is expected to increase over the next financial year. Document Selection These documents will be presented in a new window.
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