Private New Capital Expenditure and Expected Expenditure, Australia

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Quarterly statistics about actual and expected private new capex investment spend on buildings and equipment by industry

Reference period
September 2023
Released
30/11/2023

Key statistics

  • Total new capital expenditure rose by 0.6%
  • Buildings and structures rose by 0.7%
  • Equipment, plant and machinery rose by 0.5%
  • Estimate 4 for 2023-24 is $171.2b. This is 8.5% higher than Estimate 3 for 2023-24
Key data items
  Sep Qtr 23 ($m)Jun Qtr 23 to Sep Qtr 23 (% change)Sep Qtr 22 to Sep Qtr 23 (% change)
Seasonally adjusted(a)   
 Total new capital expenditure399070.610.7
 Buildings and structures215140.713.7
 Equipment, plant and machinery183930.57.4
Trend(a)   
 Total new capital expenditure401752.111.0
 Buildings and structures216212.213.7
 Equipment, plant and machinery185161.87.9

a. In volume terms

Source: Australian Bureau of Statistics, Private New Capital Expenditure and Expected Expenditure, Australia September 2023

New capital expenditure in seasonally adjusted volume terms

Total new capital expenditure

  • The trend estimate for total new capital expenditure rose 2.1%

  • The seasonally adjusted estimate for total new capital expenditure rose 0.6% 

a. Trend break added to 'Total new capital expenditure' trend series for June 2020, Dec 2018, Sep 2015, Sep 2008, Mar 2007 and Jun 2003.

Buildings and structures

  • The trend estimate for buildings and structures rose 2.2% 

  • The seasonally adjusted estimate for buildings and structures rose 0.7%

a. Trend break added to 'Buildings and Structures new capital expenditure' trend series for Dec 2018, Sep 2015, Sep 2008, Mar 2007 and Jun 2003.

Equipment and machinery

  • The trend estimate for equipment, plant and machinery rose 1.8%

  • The seasonally adjusted estimate for equipment, plant and machinery rose 0.5% 

a. Trend break added to 'Equipment and machinery new capital expenditure' trend series for Mar 2007.

Mining and non-mining

  • The trend estimate for Mining rose 3.5%

  • The seasonally adjusted estimate for Mining rose 5.6% 

  • The trend estimate for Non-mining rose 1.4%

  • The seasonally adjusted estimate for Non-mining fell 1.3%

a. Trend break added to 'Total non-mining capital expenditure' trend series for Dec 2018, Sep 2015, Sep 2008, Mar 2007 and Jun 2003.

Financial years at current prices

Timing and composition

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

The timing and composition of these estimates are as follows:

Composition of estimates 
Estimate Based on data reported at:Data on long-term expected expenditureData on Short-term expected expenditureData on actual expenditure
1Jan-Feb, 5-6 months before period begins12 monthsNilNil
2Apr-May, 2-3 months before period begins12 monthsNilNil
3Jul-Aug, at beginning of period6 months6 monthsNil
4Oct-Nov, 3-4 months into period6 months3 months3 months
5Jan-Feb, 6-7 months into periodNil6 months6 months
6Apr-May, 9-10 months into periodNil3 months9 months
7Jul-Aug, at end of periodNilNil12 months

Source: Australian Bureau of Statistics, Private New Capital Expenditure and Expected Expenditure, Australia September 2023

Total capital expenditure

  • Estimate 4 for 2023-24 is $171.2b

  • This is 8.5% higher than Estimate 3 for 2023-24

Buildings and structures

  • Estimate 4 for 2023-24 is $100.9b

  • This is 6.5% higher than Estimate 3 for 2023-24

Equipment and machinery

  • Estimate 4 for 2023-24 is $70.4b

  • This is 11.6% higher than Estimate 3 for 2023-24

Mining

  • Estimate 4 for 2023-24 is $50.7b

  • This is 6.9% higher than Estimate 3 for 2023-24

Non-mining

  • Estimate 4 for 2023-24 is $120.6b

  • This is 9.2% higher than Estimate 3 for 2023-24

Detailed industry movements by asset type

Industry chain volume seasonally adjusted total capex
Jun Qtr 23 to Sep Qtr 23Sep Qtr 22 to Sep Qtr 23
% change% change
Mining5.615.0
Manufacturing3.115.0
Electricity, Gas, Water and Waste-3.70.7
Construction15.19.7
Wholesale Trade-15.8-6.9
Retail Trade-3.70.7
Accommodation and Food Services-9.133.9
Transport, Postal and Warehousing-2.511.7
Information Media and Telecommunications2.36.0
Financial and Insurance Services4.518.9
Rental, Hiring and Real Estate-11.4-6.6
Professional, Scientific and Technical Services-1.54.4
Administrative and Support Services2.4-7.9
Education and Training22.759.8
Health Care and Social Assistance1.012.5
Arts and Recreation Services-14.56.8
Other Services-3.447.0
Industry chain volume buildings and structures
Jun Qtr 23 to Sep Qtr 23Sep Qtr 22 to Sep Qtr 23
% change% change
Mining5.420.4
Manufacturing-1.942.1
Electricity, Gas, Water and Waste-5.1-2.1
Construction18.0195.0
Wholesale Trade-14.8-6.8
Retail Trade-15.8-16.3
Accommodation and Food Services-23.237.3
Transport, Postal and Warehousing8.711.7
Information Media and Telecommunications-3.2-1.3
Financial and Insurance Services20.683.3
Rental, Hiring and Real Estate-11.3-7.5
Professional, Scientific and Technical Services21.495.3
Administrative and Support Services19.068.3
Education and Training26.568.7
Health Care and Social Assistance-3.8-1.7
Arts and Recreation Services-20.917.6
Other Services0.022.5
Industry chain volume equipment and machinery
Jun Qtr 23 to Sep Qtr 23Sep Qtr 22 to Sep Qtr 23
% change% change
Mining5.92.2
Manufacturing5.85.0
Electricity, Gas, Water and Waste6.020.7
Construction15.05.9
Wholesale Trade-16.0-6.8
Retail Trade-0.55.6
Accommodation and Food Services1.932.3
Transport, Postal and Warehousing-9.411.7
Information Media and Telecommunications23.536.4
Financial and Insurance Services1.610.3
Rental, Hiring and Real Estate-11.8-4.8
Professional, Scientific and Technical Services-7.0-8.9
Administrative and Support Services-1.7-18.8
Education and Training4.621.6
Health Care and Social Assistance6.532.3
Arts and Recreation Services-4.8-4.2
Other Services-3.952.8

State movements

State chain volume seasonally adjusted total capex
Jun Qtr 23 to Sep Qtr 23Sep Qtr 22 to Sep Qtr 23
% change% change
New South Wales-2.52.7
Victoria0.620.1
Queensland-10.8-0.4
South Australia2.513.6
Western Australia7.524.0
Tasmania-1.7-20.8
Northern Territory2.06.3
Australian Capital Territory7.38.2

Data downloads

Data downloads

Data files

Data Explorer datasets

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Please check the reference period when using Data Explorer.

Private New Capital Expenditure and Expected Expenditure - estimates of actual and expected new capital expenditure by private businesses for selected industries in Australia

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Previous catalogue number

This release previously used catalogue number 5625.0.

Notes on release

Chain volume estimates re-referenced to 2021-22

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, 2021-22, 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 2021-22. 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.

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