INVESTMENT


PRIVATE NEW CAPITAL EXPENDITURE

Between the September and December quarters of 2009, the South Australian chain volume (trend) estimate of private new capital expenditure fell by 2.2% to $1,267m. Expenditure on Equipment, plant and machinery rose slightly to $727m (0.8%), while expenditure on Buildings and structures fell $34m (5.9%) to $542m.

Over the same period, private new capital expenditure for Australia rose $149m (0.5%) to $27,223m. Expenditure on Equipment, plant and machinery rose 4.5%, whist expenditure on Buildings and structures fell 3.4%.

Note: Use of new classification

The frame information and sample design for the Survey of Private New Capital Expenditure have been improved by incorporation of the 2006 Australian and New Zealand Standard Industrial Classification (ANZSIC), (cat. no. 1292.0), replacing the 1993 ANZSIC, the inclusion of non-employing businesses which contribute significantly to economic activity and integration of updated size variable information for each business on the frame.

These changes have resulted in statistical impacts on our previously published historic data series. This publication and other Survey of Private New Capital Expenditure outputs released on or after November 26, 2009, feature revised historic series which align past published estimates to the estimates including statistical changes introduced from this quarter. An information paper (cat. no. 5625.0.55.001) describing these changes in more detail is available at www.abs.gov.au.


MINERAL AND PETROLEUM EXPLORATION EXPENDITURE

The value of South Australian mineral exploration expenditure (in original terms) was $37.0m in the December quarter 2009; a decrease of 23.3% over the previous quarter and 61.1% below the peak recorded in the June quarter 2008 ($95.2m). Australian expenditure on mineral exploration was $578.8m in the December quarter 2009; an increase of 3.8% from the September quarter estimate ($557.4m).

Exploration expenditure on Copper ($13.4m) and Uranium ($11.1m) accounted for approximately two thirds (66.2%) of all South Australian mineral exploration expenditure in the December quarter 2009. A further $5.7m was spent on exploration for Gold.

Expenditure on petroleum exploration in South Australia in the December quarter 2009 was $28.1m, up 3.7% from the previous quarter. Nationally, expenditure on petroleum exploration also increased (3.7%) rising from $797.7m to $827.0m over the same period.