Australian Bureau of Statistics

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1345.0 - Key National Indicators, 2014  
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  • Glossary

Actual New Capital Expenditure

New capital expenditure refers to the acquisition of new tangible assets either on own account or under a finance lease and includes major improvements, alterations and additions. In general, this is expenditure charged to fixed tangible assets accounts excluding expenditure on second hand assets unless these are imported for the first time.

Average weekly earnings for full-time adults

Full-time adult average weekly ordinary time earnings represents average gross (before tax) earnings of Full-Time adult employees and do not relate to average award rates nor the earnings of the 'average person'. Estimates of full-time adult average weekly ordinary time earnings are derived by dividing the estimates of weekly ordinary time earnings by estimates of the number of employees.

Balance on Current Account

The current account shows flows of goods, services, primary income, and secondary income between residents and non-residents. Primary income refers to the amounts payable and receivable in return for providing temporary use to another entity of labour, financial resources, or produced non-financial assets. Secondary income refers to the redistribution of income, that is, when resources for current purposes are provided by one party without anything of economic value being supplied as a direct return to that party. Examples include personal transfers and current international assistance. The Balance on Current Account is the difference between the sum of exports and income receivable and the sum of imports and income payable.

Balance on Goods and Services

Goods are physical, produced items over which ownership rights can be established and whose economic ownership can be passed from one institutional unit to another by engaging in transactions. They may be used to satisfy the needs or wants of households or the community or used to produce other goods or services. The production of a good can be separated from its subsequent sale or resale. Services are the result of a production activity that changes the conditions of the consuming units, or facilitates the exchange of products or financial assets. Services are not generally separate items over which ownership rights can be established and cannot generally be separated from their production.

Building approvals

A building is a rigid, fixed and permanent structure which has a roof. Its intended purpose is primarily to house people, plant, machinery, vehicles, goods or livestock. An integral feature of a building's design is the provision for regular access by persons in order to satisfy its intended use.

Building work done

The value of building work done including only work carried out during the quarter

Company gross operating profits

Selected items are excluded from company profits before income tax to provide a measure of underlying company profits. These items include interest income and expenses; depreciation and amortisation; and selected items which do not involve the production of goods and services such as net foreign exchange gains/losses, gains/losses arising from the sale of non-current assets, and net unrealised gains/losses from the revaluation of current or non-current assets.

Consumer Price Index

The Consumer Price Index is a social and economic indicator that is constructed to measure the changes over time in the prices paid by households for consumer goods and services.

Dwelling unit approvals

A dwelling unit is a self-contained suite of rooms, containing cooking and bathing facilities and intended for long-term residential use.

Employed persons

Employed includes all persons aged 15 years and over who, during the reference week: worked for one hour or more for pay, profit, commission or payment in kind in a job or business, or on a farm (comprising employees, employers and own account workers); or worked for one hour or more without pay in a family business or on a farm (i.e. contributing family workers); or were employees who had a job but were not at work and were: away from work for fewer than four weeks up to the end of the reference week; or away from work for more than four weeks up to the end of the reference week and received pay for some or all of the four week period to the end of the reference week; or away from work as a standard work or shift arrangement; or on strike or locked out; or on workers' compensation and expected to return to their job; or were employers or own account workers, who had a job, business or farm, but were not at work.

Employment to Population ratio

For any group, the number of employed persons expressed as a percentage of the civilian population in the same group.

Engineering construction work done

Engineering construction work done is the value of construction work carried out in the quarter on fixed infrastructure excluding buildings. It includes commodities such as roads, railways, pipelines, mines and so forth.

Estimated resident population

The official measure of the population of Australia is based on the concept of usual residence. It refers to all people, regardless of nationality or citizenship, who usually live in Australia, with the exception of foreign diplomatic personnel and their families. It includes usual residents who are overseas for less than 12 months. It excludes overseas visitors who are in Australia for less than 12 months.

Export Price Index

The Export Price Index measures the change in the prices received of goods purchased by other countries, which were produced in Australia.

Goods and Services Credits

Goods are physical, produced items over which ownership rights can be established and whose economic ownership can be passed from one institutional unit to another by engaging in transactions. They may be used to satisfy the needs or wants of households or the community or used to produce other goods or services. The production of a good can be separated from its subsequent sale or resale. Services are the result of a production activity that changes the conditions of the consuming units, or facilitates the exchange of products or financial assets. Services are not generally separate items over which ownership rights can be established and cannot generally be separated from their production.

Goods and Services Debits

Goods are physical, produced items over which ownership rights can be established and whose economic ownership can be passed from one institutional unit to another by engaging in transactions. They may be used to satisfy the needs or wants of households or the community or used to produce other goods or services. The production of a good can be separated from its subsequent sale or resale. Services are the result of a production activity that changes the conditions of the consuming units, or facilitates the exchange of products or financial assets. Services are not generally separate items over which ownership rights can be established and cannot generally be separated from their production.

Gross domestic product GDP

Gross domestic product is the total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production, but before deducting allowances for the consumption of fixed capital.

Gross domestic product GDP - Annual

Gross domestic product is the total market value of goods and services produced in Australia annually after deducting the cost of goods and services used up in the process of production, but before deducting allowances for the consumption of fixed capital.

Housing finance for owner occupied housing

Time series data on secured housing finance commitments made by authorised deposit taking institutions and other significant financial institutions for owner occupied (number and value) and investment housing (value). Also included are balances outstanding on housing loans to households. Dimensions include state and territory, type of lender, and loan purpose.

Import Price Index

The Import Price Index measures the change in the prices paid for goods that are purchased by Australia, which were produced by other countries.

Income from sales of goods and services by Manufacturers

This item includes sales of goods by the business and income from services provided such as commission income, repair and service income and fees, management fees, rent leasing and hiring income, delivery and installation charges, income from consulting services, sponsorship income, membership/subscription fees and royalties income. State/territory income from sales of goods and services is reported by businesses for the sales of goods and services from each state/territory in which the business operates.

Inventories held by Private Businesses

Consist of stocks of outputs that are held at the end of a period by the units that produced them prior to their being further processed, sold, delivered to other units or used in other ways and stocks of products acquired from other units that are intended to be used for intermediate consumption or for resale without further processing.

Job Vacancies

A job vacancy is a vacant employee job available for immediate filling on the survey reference date and for which recruitment action has been taken.

Net Foreign Debt

Australia's foreign debt liabilities include borrowing from non-residents and other non-equity liabilities to non-residents such as derivatives positions with a negative market value. Foreign debt assets include lending to non-residents and other non-equity assets such as derivatives positions with a positive market value. The majority of public sector debt assets are held by the Reserve Bank of Australia as reserve assets. Net foreign Debt is the difference between Australia's foreign debt assets and liabilities.

Net International Investment Position (IIP)

The international investment position (IIP) is a statistical statement that shows at a point in time the value of: financial assets of residents of an economy that are claims on non-residents or are gold bullion held as reserve assets; and the liabilities of residents of an economy to non-residents. The difference between the assets and liabilities is the net position in the IIP and represents either a net claim on or a net liability to the rest of the world.

Participation rate

For any group, the labour force expressed as a percentage of the civilian population aged 15 years and over in the same group.

Producer Price Index

The Producer Price Index, Stage of Production: Final Demand, measures the change in the prices of products (goods and services) as they leave the production process with no further transformation.

Retail turnover at current prices

Retail turnover includes retail sales; wholesale sales; takings from repairs, meals and hiring of goods (except for rent, leasing and hiring of land and buildings); commissions from agency activity (e.g. commissions received from collecting dry cleaning, selling lottery tickets, etc.); and net takings from gaming machines etc.

Short-term overseas visitor arrivals

Short-term visitor arrivals comprise overseas visitors who intend to stay in Australia for less than 12 months.

Total dwelling units commenced

A building is commenced when the first physical building activity has been performed on site in the form of materials fixed in place and/or labour expended (this includes site preparation but excludes delivery of building materials, the drawing of plans and specifications and the construction of non-building infrastructures, such as roads).

Total new motor vehicle sales

Includes new sales of Passenger vehicles, Sports utility vehicles and Other vehicles.

Unemployment rate

For any group, the number of unemployed persons expressed as a percentage of the labour force in the same group.

Wage Price Index

Total hourly rates of pay excluding bonuses index. Measures changes over time in the price of labour unaffected by changes in the quality or quantity of work performed. Includes wages and salaries and overtime.


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Commonwealth of Australia 2014

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