New capital expenditure rises 1.1%

Media Release

Released

28/11/2024

Source

Private New Capital Expenditure and Expected Expenditure, Australia, September 2024

Private new capital expenditure (capex) rose 1.1 per cent in September quarter 2024, to be 1.0 per cent higher than September quarter 2023 (seasonally adjusted, chain volume measures), according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said: “Business investment rose 2.3 per cent in the non-mining industries. This was partly offset by a fall in mining capex of 1.9 per cent.”

Building and Equipment, Seasonally Adjusted, Chain Volume Measure
	Building - Seasonal ($m)	Building - Trend ($m)	Equipment - Seasonal ($m)	Equipment - Trend ($m)
Sep-04	8,961	9,009	11,440	11,711
Dec-04	9,232	9,355	12,916	12,192
Mar-05	10,139	9,997	12,056	12,512
Jun-05	10,725	11,041	12,938	12,956
Sep-05	12,493	12,173	13,567	13,748
Dec-05	13,675	13,393	14,870	14,496
Mar-06	14,101	14,459	14,774	14,677
Jun-06	15,616	14,812	14,196	14,496
Sep-06	14,535	14,620	14,448	14,285
Dec-06	13,739	14,565	14,314	14,420
Mar-07	16,835	16,455	14,895	15,006
Jun-07	17,708	17,070	15,653	15,397
Sep-07	16,621	17,440	15,657	15,730
Dec-07	17,908	17,547	16,069	16,108
Mar-08	18,088	17,709	16,519	16,771
Jun-08	17,689	18,383	17,664	17,455
Sep-08	19,526	19,861	17,955	17,641
Dec-08	22,239	21,047	17,147	17,406
Mar-09	20,856	21,137	16,848	16,936
Jun-09	20,427	20,071	17,160	16,881
Sep-09	18,482	19,129	16,441	17,213
Dec-09	19,003	18,983	18,279	17,448
Mar-10	20,010	19,654	17,072	17,095
Jun-10	20,139	20,708	16,417	16,437
Sep-10	22,478	21,630	15,647	16,279
Dec-10	22,204	22,537	17,293	17,002
Mar-11	24,091	24,350	18,211	17,927
Jun-11	26,469	27,040	18,328	18,581
Sep-11	31,744	30,334	18,986	18,863
Dec-11	32,136	33,570	19,044	19,016
Mar-12	36,630	36,095	19,086	19,127
Jun-12	38,114	37,303	19,110	19,314
Sep-12	36,582	37,059	19,634	19,465
Dec-12	35,920	35,854	19,510	19,305
Mar-13	35,040	35,486	18,596	18,886
Jun-13	35,771	36,006	18,277	18,218
Sep-13	37,298	36,455	17,842	17,519
Dec-13	36,226	36,434	16,400	16,817
Mar-14	34,474	36,038	16,702	16,465
Jun-14	36,029	35,740	16,257	16,701
Sep-14	35,205	35,172	17,556	17,205
Dec-14	34,208	33,887	17,431	17,413
Mar-15	31,550	31,958	17,156	17,042
Jun-15	30,578	30,275	16,302	16,278
Sep-15	27,569	28,438	15,406	15,739
Dec-15	28,218	27,244	15,753	15,635
Mar-16	25,522	25,398	15,823	15,843
Jun-16	22,886	23,358	16,109	15,985
Sep-16	21,797	21,985	15,884	15,899
Dec-16	21,911	21,799	15,737	15,754
Mar-17	22,257	22,136	15,642	15,692
Jun-17	22,384	22,504	15,846	15,816
Sep-17	22,819	22,689	16,103	16,158
Dec-17	22,693	22,656	16,522	16,531
Mar-18	22,301	22,360	17,149	16,931
Jun-18	22,058	21,990	16,930	17,329
Sep-18	21,494	21,732	18,017	17,653
Dec-18	22,108	21,855	17,748	17,885
Mar-19	21,520	21,500	17,895	17,925
Jun-19	20,789	21,093	17,932	17,790
Sep-19	20,985	20,669	17,467	17,624
Dec-19	20,037	20,207	17,488	17,339
Mar-20	19,802	19,525	17,119	17,151
Jun-20	18,765	18,752	15,547	17,210
Sep-20	18,126	18,264	15,659	17,513
Dec-20	18,216	18,332	16,825	17,934
Mar-21	18,910	18,915	18,242	18,229
Jun-21	19,854	19,619	18,374	18,345
Sep-21	19,983	20,161	18,376	18,377
Dec-21	20,514	20,396	18,393	18,442
Mar-22	20,534	20,382	18,536	18,586
Jun-22	20,203	20,402	18,878	18,719
Sep-22	20,589	20,691	18,803	18,847
Dec-22	21,537	21,454	18,943	19,104
Mar-23	22,255	22,375	19,577	19,527
Jun-23	23,349	23,063	20,052	19,901
Sep-23	23,288	23,461	20,125	20,149
Dec-23	23,518	23,511	20,111	20,332
Mar-24	23,555	23,316	20,802	20,530
Jun-24	22,777	23,098	20,585	20,705
Sep-24	23,023	22,885	20,816	20,835

Building and Equipment, Seasonally Adjusted, Chain Volume Measure

[""," Building - Seasonal"," Building - Trend","  Equipment - Seasonal"," Equipment - Trend"]

[["Sep-04","Dec-04","Mar-05","Jun-05","Sep-05","Dec-05","Mar-06","Jun-06","Sep-06","Dec-06","Mar-07","Jun-07","Sep-07","Dec-07","Mar-08","Jun-08","Sep-08","Dec-08","Mar-09","Jun-09","Sep-09","Dec-09","Mar-10","Jun-10","Sep-10","Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[8961],[9232],[10139],[10725],[12493],[13675],[14101],[15616],[14535],[13739],[16835],[17708],[16621],[17908],[18088],[17689],[19526],[22239],[20856],[20427],[18482],[19003],[20010],[20139],[22478],[22204],[24091],[26469],[31744],[32136],[36630],[38114],[36582],[35920],[35040],[35771],[37298],[36226],[34474],[36029],[35205],[34208],[31550],[30578],[27569],[28218],[25522],[22886],[21797],[21911],[22257],[22384],[22819],[22693],[22301],[22058],[21494],[22108],[21520],[20789],[20985],[20037],[19802],[18765],[18126],[18216],[18910],[19854],[19983],[20514],[20534],[20203],[20589],[21537],[22255],[23349],[23288],[23518],[23555],[22777],[23023]],[[9009],[9355],[9997],[11041],[12173],[13393],[14459],[14812],[14620],[14565],[16455],[17070],[17440],[17547],[17709],[18383],[19861],[21047],[21137],[20071],[19129],[18983],[19654],[20708],[21630],[22537],[24350],[27040],[30334],[33570],[36095],[37303],[37059],[35854],[35486],[36006],[36455],[36434],[36038],[35740],[35172],[33887],[31958],[30275],[28438],[27244],[25398],[23358],[21985],[21799],[22136],[22504],[22689],[22656],[22360],[21990],[21732],[21855],[21500],[21093],[20669],[20207],[19525],[18752],[18264],[18332],[18915],[19619],[20161],[20396],[20382],[20402],[20691],[21454],[22375],[23063],[23461],[23511],[23316],[23098],[22885]],[[11440],[12916],[12056],[12938],[13567],[14870],[14774],[14196],[14448],[14314],[14895],[15653],[15657],[16069],[16519],[17664],[17955],[17147],[16848],[17160],[16441],[18279],[17072],[16417],[15647],[17293],[18211],[18328],[18986],[19044],[19086],[19110],[19634],[19510],[18596],[18277],[17842],[16400],[16702],[16257],[17556],[17431],[17156],[16302],[15406],[15753],[15823],[16109],[15884],[15737],[15642],[15846],[16103],[16522],[17149],[16930],[18017],[17748],[17895],[17932],[17467],[17488],[17119],[15547],[15659],[16825],[18242],[18374],[18376],[18393],[18536],[18878],[18803],[18943],[19577],[20052],[20125],[20111],[20802],[20585],[20816]],[[11711],[12192],[12512],[12956],[13748],[14496],[14677],[14496],[14285],[14420],[15006],[15397],[15730],[16108],[16771],[17455],[17641],[17406],[16936],[16881],[17213],[17448],[17095],[16437],[16279],[17002],[17927],[18581],[18863],[19016],[19127],[19314],[19465],[19305],[18886],[18218],[17519],[16817],[16465],[16701],[17205],[17413],[17042],[16278],[15739],[15635],[15843],[15985],[15899],[15754],[15692],[15816],[16158],[16531],[16931],[17329],[17653],[17885],[17925],[17790],[17624],[17339],[17151],[17210],[17513],[17934],[18229],[18345],[18377],[18442],[18586],[18719],[18847],[19104],[19527],[19901],[20149],[20332],[20530],[20705],[20835]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"$ million","axis_units":"","tooltip_units":"($m)","table_units":"($m)","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"$","data_unit_suffix":"","reverse_axis":false}]

Capex was up 1.1 per cent for buildings and structures, with the non-mining industries rising 3.5 per cent. New equipment and machinery rose 1.1 per cent.

“The rise in buildings and structures was caused by higher spending on large scale upgrades in the manufacturing industry, and data centre projects in the information, media and telecommunications industry. This was partly offset by a fall in mining industry spending on buildings and structures, which was down 2.5 per cent after rising last quarter,” Mr Ewing said.

“Non-mining investment drove up equipment and machinery capex by 1.4 per cent. Finance and insurance, health care and social assistance, and manufacturing industries were the main contributors to the rise,” Mr Ewing said.

The largest growth for states and territories was in New South Wales (+3.6 per cent) and Victoria (+3.2 per cent). The largest falls were in South Australia (-10.9 per cent) and the Northern Territory (-17.1 per cent).

Figures released today also include the fourth estimate of capex for 2024-25.

Businesses revised up their expected capex spend for 2024-25 by 5.1 per cent since their last estimate. The main drivers of this rise were construction (+33.3 per cent), electricity, gas, water and waste services (+10.9 per cent), and transport, postal and warehousing (+8.3 per cent).

More detailed industry and state analysis and further information on the statistical methodology is available in 5625.0 Private New Capital Expenditure and Expected Expenditure, Australia Sep 2024.

The ABS gratefully acknowledges the contributions of businesses across Australia in providing data for this release.

Media notes

New capital expenditure refers to the acquisition of new tangible assets and includes major improvements, alterations, and additions.
All statistical figures in this media release are in seasonally adjusted volume terms unless otherwise noted.
Seasonal adjustment is the process of estimating and removing seasonal effects to allow comparison of data for adjacent months. See methodology for more details.
When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
For media requests and interviews, contact the ABS Media Team on 1300 175 070 or media@abs.gov.au (monitored 8:30am-5pm Canberra time, Monday-Friday).
Watch our data crash course, designed especially for journalists to learn how to find, download and interpret our data.
Subscribe to our media release notification service to get notified of ABS media releases or publications on their release.

APA

Citation

New capital expenditure rises 1.1%

APA

Citation

Media notes

Provide feedback