September key figures

		Sep Qtr 19	Jun Qtr 19 to Sep Qtr 19	Sep Qtr 18 to Sep Qtr 19
		$m	% change	% change
Trend estimates(a)
	Total new capital expenditure	29 346	-0.6	-1.5
	Buildings and structures	15 620	-0.5	-2.9
	Equipment, plant and machinery	13 736	-0.6	0.2
Seasonally adjusted(a)
	Total new capital expenditure	29 413	-0.2	-1.3
	Buildings and structures	15 853	2.7	-0.3
	Equipment, plant and machinery	13 560	-3.5	-2.4
(a) In volume terms

New Capital Expenditure, in volume terms

September key points


Actual expenditure (Chain volume terms)

• The trend estimate for total new capital expenditure fell by 0.6% in the September quarter 2019. This follows a fall of 0.8% in the June quarter 2019.
• The seasonally adjusted estimate for total new capital expenditure fell by 0.2% in the September quarter 2019. This follows a fall of 0.6% in the June quarter 2019.
• The trend estimate for buildings and structures fell by 0.5% in the September quarter 2019. This follows a fall of 1.0% in the June quarter 2019.
• The seasonally adjusted estimate for buildings and structures rose by 2.7% in the September quarter 2019. This follows a fall of 3.0% in the June quarter 2019.
• The trend estimate for equipment, plant and machinery fell by 0.6% in the September quarter 2019. This follows a fall of 0.5% in the June quarter 2019.
• The seasonally adjusted estimate for equipment, plant and machinery fell by 3.5% in the September quarter 2019. This follows a rise of 2.0% in the June quarter 2019.

Expected expenditure (Current price terms)

• This issue includes the fourth estimate (Estimate 4) for 2019-20.
• Estimate 4 for 2019-20 is $116,692m. This is 2.5% higher than Estimate 4 for 2018-19.
• Estimate 4 is 3.4% higher than Estimate 3 for 2019-20.

Notes

Forthcoming issues

ISSUE (QUARTER)	Release Date
December 2019	27 February 2020
March 2020	28 May 2020
June 2020	27 August 2020
September 2020	26 November 2020

Changes in this issue

Each September quarter, the reference and base year for chain volume estimates for the Survey of Private New Capital Expenditure are updated. A new base year, 2017-18, has been introduced into the chain volume estimates which has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2017-18. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the level of but not the movements in chain volume estimates.


Change to Australia's Economic Territory

A new Maritime Boundary Treaty between Australia and Timor-Leste came into force on 30 August 2019. The new treaty provides exclusive jurisdiction of the former Joint Petroleum Development Area excluding Greater Sunrise in the Timor Sea to the Democratic Republic of Timor-Leste. From this publication onwards, data contained within Private New Capital Expenditure and Expected Expenditure, Australia (cat.no.5625.0) will reflect the new maritime boundary.


Data Notes

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.


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