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1364.0.15.003 - Modellers' Database, Jun 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 18/10/2006   
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  • Time Series Spreadsheet (I-Note)

The National Income Forecasting (NIF) Model was jointly developed in the early 1970's by the Treasury and the then Commonwealth Bureau of Census and Statistics (forerunner of the Australian Bureau of Statistics). Over the subsequent years a number of versions of NIF were released following improvements to the underlying model. 1988 saw the final release of the NIF model.

The research on the present Treasury Model (TRYM) model began in 1990, partly in response to feedback on the NIF model. However, it was also motivated by a desire for a smaller, more transparent model than NIF88 with a greater focus on internal consistency. With TRYM replacing the NIF model most of the 500 NIF series became redundant. However, a smaller number of series (around 190) were retained as they were not covered within the TRYM model or were seen by users as having some additional value, at that time.

The introduction of new National Account benchmarks in the September quarter 2005 highlighted quality issues with some of the NIF series in the Modellers' Database. This resulted in a wider review of all NIF series. The review has investigating the models, assumptions and input data currently being used to create the NIF series. The NIF data was being estimated in the absence of any recognised statistical or conceptual framework. This created difficulties in defining what the scope of certain series should be. Without a clear scope estimating reliable data is quite difficult. Many of the NIF series were still referring to concepts relevant when the model was originally developed in the 1970's. For example, many of the NIF series are still on the System of National Accounts 1968 (SNA68) basis rather than the System of National Accounts 1993 (SNA93) basis currently used. As a result of this review, the publication of a number of series has been ceased.


Valentin M. Valdez
Database Administrator
Analysis Branch

Table numbers refer to 5206 pdf unless stated otherwise.

Table 01: NIF Private Final Consumption - Seasonally Adjusted
NIF SeriesDescriptionSource
VNEQ.UC_CRE$Rent and other dwelling services
  • Table 58
VNEQ.AC_CON$Total HOUSEHOLD FINAL CONSUMPTION EXPENDITURE,
  • Table 9
VNEQ.UK90_CRERent and other dwelling services (Chain Volume Measure)
  • Table 21
VNEQ.AK90_CONTotal HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, (Chain Volume Measure)
  • Table 21

Table 02: NIF Demand And Expenditure - Seasonally Adjusted
NIF SeriesDescriptionSource
VNEQ.AC_DGC$Final consumption expenditure General government
Total national
  • Table 9
VNEQ.AC_DGS$Final consumption expenditure General government
State and Local
  • Table 9
VNEQ.AC_DIS$Statistical Discrepancy (E)
  • Table 9
VNEQ.AC_SDI$Statistical Discrepancy (I)
  • Table 19
VNEQ.AC_DPC$Public Gross Fixed Capital Formation - General Government Total national + Gross Fixed Capital Formation - Public corporations Commonwealth
  • Table 9
VNEQ.AC_DPS$Public Gross Fixed Capital Formation - General Government - State and local + Public Gross Fixed Capital Formation - Public corporations - State and local
  • Table 9
VNEQ.AK90_DGCFinal consumption expenditure - General government - Total national (Chain Volume Measure)
  • Table 6
VNEQ.AK90_DGSFinal consumption expenditure - General government - State and Local (Chain Volume Measure)
  • Table 6
VNEQ.AK90_DISStatistical Discrepancy (E) (Chain Volume Measure)
  • Table 6
VNEQ.AK90_DPCPublic Gross Fixed Capital Formation - General Government - Total national + Public Gross Fixed Capital Formation - Public corporations - Commonwealth (Chain Volume Measure)
  • Table 6
VNEQ.AK90_DPSPublic Gross Fixed Capital Formation - General Government - State and local + Public Gross Fixed Capital Formation - Public corporations - State and local (Chain Volume Measure)
  • Table 6

Table 03: NIF Private Gross Fixed Capital Formation - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AC_IDW$Private gross fixed capital formation - Dwellings - Total dwellings
  • Table 9
VNEQ.AC_IFA$Private gross fixed capital formation - Intangible Fixed Assets -
Total Intangible fixed assets
  • Table 9
VNEQ.AC_ILS$Private gross fixed capital formation - Livestock
  • Table 9
VNEQ.AC_IPEC$Private gross fixed capital formation - Total machinery and equipment
  • Table 9
VNEQ.AC_IPEU$Plant & Equipment : Unincorporated
  • Deleted
VNEQ.AK90_IDWPrivate gross fixed capital formation - Dwellings
- Total dwellings
  • Table 6
VNEQ.AK90_IFAPrivate gross fixed capital formation - Intangible Fixed Assets - Total Intangible fixed assets
  • Table 6
VNEQ.AK90_ILSPrivate gross fixed capital formation - Livestock
  • Table 6
VNEQ.AK90_IOBPrivate gross fixed capital formation - Total non-dwelling construction
  • Table 6
VNEQ.AK90_IOBMOther Building & Construction : Mining (cvm)
  • Deleted
VNEQ.AK90_IPEPrivate gross fixed capital formation - Total machinery and equipment (cvm)
  • Table 6
VNEQ.AK90_IPEMPlant & Equipment - Mining (cvm)
  • Deleted
VNEQ.AK90_IRETPrivate gross fixed capital formation Ownership transfer costs( cvm)
  • Table 6
  • Deleted
  • Can be found in TRYM

Table 04: NIF Depreciation & Deductions - Original
NIF SeriesDescriptionDerivation
VNEQ.AC_DEDW$Deductions from Gross Rent (Seasonally Adjusted)Rent and other dwelling services T58 less Dwellings owned by persons T19
VNEQ.UC_DC$Consumption of fixed capital for NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS (CHAIN VOLUME MEASURES)
  • Based on Table 70 (Consumption of fixed capital) 5204.0
VNEQ.UC_DDW$Dwellings Owned by Persons
  • Unpublished National Accounts Series*
VNEQ.UC_DFIN$Private Financial Enterprises
  • Unpublished National Accounts Series
VNEQ.UC_DFU$
Farm Unincorporated Trading Enterprises
  • Unpublished National Accounts Series*
VNEQ.UC_DTOT$Total Private excluding Dwellings Owned by Persons
  • Deleted
VNEQ.UC_DU$Non-farm Unincorporated Trading Enterprises
  • Unpublished National Accounts Series*
Note: VNEQ.UC_DDW$ + VNEQ.UC_DFU$ + VNEQ.UC_DU$ = Table 36 HOUSEHOLD INCOME ACCOUNT Consumption of fixed capital


Table 05: NIF Interest Payments - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AC_IPDW$Uses of income - Property income payable - Interest on dwellings
  • Table 36
VNEQ.AC_IPG$Uses of income - Property income payable - Total interest
  • Table 38
VNEQ.AC_IPU$Uses of income - Property income payable - Property income payable by unincorporated enterprises
  • Table 36
VNEQ.UC_IPC$NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS
  • Treasury series SEP59 TO JUN89, From SEP89 Unpublished Financial Accounts series
VNEQ.UC_IPCD$Uses of income - Property income payable -Consumer debt interest
  • Table 36

Table 06: NIF Product Aggregates - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AC_GFF$Gross agricultural product at basic prices
  • Table 23
VNEQ.AC_GFM$Gross agricultural value added at producers' prices
  • Table 23
VNEQ.AC_GFMX$Taxes less subsidies on products
  • Table 23
VNEQ.AC_GNF$Gross Non-Farm Product at Factor Cost
  • Unpublished National Accounts Series
VNEQ.AC_GNM$Non-Farm GDP current prices
  • Table 41
VNEQ.AC_GTM$Current price GDP
Gross domestic product
  • Table 2
VNEQ.AK90_GFMINDUSTRY GROSS VALUE ADDED (CVM)- Agriculture, forestry and fishing - Agriculture.
  • Treasury series SEP59 TO JUN74, From SEP74 Table 16
VNEQ.AK90_GNMGross non-farm product at market prices (cvm)
  • Table 41
VNEQ.AK90_GTMVolume measure Gross Domestic Product (cvm)
  • Table 2
VNEQ.UQ_GCOCrude Oil (orig) - gigalitres
  • Department of Industry Tourism and Resources Mining and Energy Table 1A. Petroleum Production, Australia
VNEQ.UQ_GPEDomestic Crude Oil & LPG Production (orig) - gigalitres
  • Deleted

Table 07: NIF Stocks Of Physical And Financial Assets - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AC_KC$End-year net capital stock NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS (current prices)
  • Based on Table 70 (End-year net capital stock) 5204
VNEQ.AC_KOBC$Other Building & Structures : Corporate
  • Deleted
VNEQ.AC_KPEC$Plant & Equipment : Corporate
  • Deleted
VNEQ.AC_KSNP$Inventories - Private Non-Farm (current price)
  • Based on Table 16 5204
VNEQ.UC_KDEB$Corporate Sector Debt Capital (Original)
  • Deleted.
VNEQ.AK90_KCEnd-year net capital stock NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS (cvm)
  • Based on Table 70 (End-year net capital stock)5204
VNEQ.AK90_KMVMotor Vehicles (cvm)
  • Treasury series SEP59 TO JUN89. From SEP89 based on Consumer durables Table 16 5204 and other unpublished National Accounts data and historical Treasury series.
VNEQ.AK90_KOBOther Building & Structures : Total (cvm)
  • Based on Table 69 5204
VNEQ.AK90_KODHousehold Durables (cvm)
  • Treasury series SEP59 TO JUN89. From SEP89 Based on Consumer durables Table 16 5204 and other unpublished National Accounts data and historical Treasury series.
VNEQ.AK90_KPEEnd-year net capital stock - MACHINERY AND EQUIPMENT : Total (cvm)
  • Based on Table 69 (End-year net capital stock)5204
VNEQ.AK90_KSNPInventories - Private Non-Farm (cvm)
  • Based on Table 18 5204


Table 08: NIF Increases in Stocks - Seasonally Adjusted ($ Millions)
NIF SeriesDescriptionDerivation
VNEQ.AC_SFRM$Changes in inventories - Public authorities and farm
  • Table 60
VNEQ.AC_SNNP$Changes in inventories - Private Non-Farm
  • Table 60
VNEQ.AC_SVA$Stock Valuation Adjustment - Total
  • Unpublished National Accounts Series
VNEQ.AC_SVAC$Stock valuation adjustment - Excluding marketing authorities (Current price)
  • Unpublished National Accounts Series
VNEQ.AK90_SFRMChanges in inventories - Public authorities and farm (cvm)
  • Treasury series SEP59 TO JUN89. From SEP89 Table 22.
VNEQ.AK90_SNNPChanges in inventories - Private Non-Farm (cvm)
  • Treasury series SEP59 TO JUN89. From SEP89 Table 22.


Table 09: NIF Imports And Exports Of Goods And Services - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AC_MEG$Imports : Endogenous goods
  • Deleted
VNEQ.AC_MGS$Imports of goods and services
  • Table 9
VNEQ.UK90_MCAImports : Civil aircraft (Original)
  • Unpublished National Accounts Series
VNEQ.AK90_MEGImports : Endogenous goods (cvm)
  • Deleted
VNEQ.AK90_MPEImports : Petroleum (cvm)
  • Treasury series SEP59 TO JUN89. From SEP89 unpublished National Accounts Series
VNEQ.AK90_MSRImports : Services (cvm)
  • unpublished National Accounts Series
VNEQ.AK90_MGSImports of goods and services (cvm)
  • Table 6
VNEQ.AC_XGS$Exports of goods and services
  • Table 9
VNEQ.AK90_XGSExports of goods and services (cvm)
  • Table 6
VNEQ.AC_XNF$Exports : Non-Farm Goods
  • unpublished National Accounts Series
VNEQ.AC_XSR$Exports : Services
  • unpublished National Accounts Series
VNEQ.AK90_XNFExports : Non-Farm Goods (cvm)
  • Treasury series SEP69 TO JUN74. From SEP89 unpublished National Accounts Series
VNEQ.AK90_XSRExports : Services (cvm)
  • unpublished National Accounts Series

Table 10: NIF Labour Market - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AN_NFEFarm Employment
  • Labour Force
VNEQ.AN_NLFCivilian Labour Force
  • Labour Force
VNEQ.AN_NNENon-Farm Employment
  • Labour Force
VNEQ.AN_NNSNon-Farm Employers & Self Employed
  • Labour Force
VNEQ.AN_NNWNon-Farm Civilian Wage & Salary Earners
  • Labour Force
VNEQ.AN_NUNUnemployment
  • Labour Force
VNEQ.AN_NVAJob Vacancies
  • Deleted
VNEQ.UN_NAPCivilian Population Aged 15 Years & Over (original)
  • Deleted
VNEQ.UN_NDFDefence Personnel (original)
  • NAB
VNEQ.UN_NPOPPopulation (original)
  • NAB


Table 11: NIF Implicit Price Deflators - Seasonally Adjusted (NOTE Base=1 not Base=100)
NIF SeriesDescriptionDerivation
VNEQ.AI90_PDGCFinal consumption expenditure - General government - Total National
  • Table 12
VNEQ.AI90_PDGSFinal consumption expenditure - General government - State & Local
  • Table 12
VNEQ.AI90_PDPCPublic gross fixed capital formation - Public corporations - Commonwealth
  • Table 12
VNEQ.AI90_PDPSPublic gross fixed capital formation - Public corporations - State & Local
  • Table 12
VNEQ.AI90_PGNMNon-farm GDP-implicit price deflator
  • Table 41
VNEQ.UI80_PGCOCrude Oil at Domestic Prices (original)
  • Deleted
VNEQ.UI90_PCONFWorld Consumption (original) - Ratio
  • Deleted
VNEQ.UI90_PCREHousehold Final Consumption Expenditure : Rent
  • Based on Rent and other dwelling services from Table 21 and Table 58
VNEQ.AI90_PCMVHousehold Final Consumption Expenditure : Purchase of vehicles
  • Based on Purchase of vehicles from Table 21 and Table 58
VNEQ.AI90_PCNDXPrivate Final Consumption Expenditure : Non-Durables
  • Deleted
VNEQ.AI90_PCODPrivate Final Consumption Expenditure : Other durables
  • Deleted
VNEQ.AI90_PCONHousehold Final Consumption Expenditure : Total
  • Based on Total from Table 21 and Table 58
VNEQ.UI90_PMCAImports of Goods and Services : Civil Aircraft(original)
  • Deleted
VNEQ.AI90_PMEGImports of Goods and Services : Endogenous Goods
  • Deleted
VNEQ.AI90_PMGSImports of Goods and Services
  • Table 12
VNEQ.AI90_PMPEImports of Goods and Services : Petroleum
  • Treasury series SEP59 TO JUN89. From SEP89 unpublished National Accounts Series
VNEQ.AI90_PMSRImports of Goods and Services : Services
  • Deleted
VNEQ.AI90_PIDWPrivate Gross Fixed Capital Formation - Dwellings - Total dwellings
  • Table 12
VNEQ.AI90_PIOBPrivate Gross Fixed Capital Formation - Private business investment - Non-dwelling construction - Total non-dwelling construction
  • Table 12
VNEQ.AI90_PIPEPrivate Gross Fixed Capital Formation - Private business investment - Machinery and equipment
  • Table 12
VNEQ.AI90_PIRETGross Fixed Capital Formation : Real Estatet/ferExpense
  • Deleted
VNEQ.AI90_PKSNPrivate non-farm inventories
  • Deleted


Table 12: NIF Interest Rates - Original (Percent)
NIF SeriesDescriptionDerivation
VNEQ.UN_RUSLondon 90 Day Eurodollar
  • Deleted
VNEQ.UN_REExpected Three Month Holding Yield on Two Year Bonds
  • Deleted
VNEQ.UN_RFDMajor Trading Bank Fixed Deposits
  • Deleted
VNEQ.UN_RADMajor Trading Bank Advances
  • Deleted
VNEQ.UN_RCBCommercial Bills
  • Deleted
VNEQ.UN_RCDCertificates of Deposits
  • Deleted
VNEQ.UN_RDBTwo Year Debentures
  • Deleted
VNEQ.UN_RGSTwo Year Bond Theoretical Yield
  • Deleted
VNEQ.UN_RMMAuthorised Money Market Dealers: deposits (weighted average)
  • Deleted
VNEQ.UN_RSMSavings Bank Mortgages
  • Deleted


Table 13: NIF Tax Rates - Original (Percent)
NIF SeriesDescriptionDerivation
VNEQ.UN_RPRPayroll Tax Rate
  • Treasury series SEP59 TO JUN99. From SEP99 Payroll Tax (Table 39) / Wages & salaries (Table 18)
VNEQ.UN_RTCCorporate Trading Enterprises
  • Treasury series SEP59 TO JUN95. From SEP95 www.ato.gov.au


Table 14: NIF Ratios - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AN_RFYIncomes : Annual Farm Income per Head
  • Deleted
VNEQ.AN_RNYIncomes : Annual Non-Farm Income per Head
  • Deleted
VNEQ.AN_RNULabour Market : Total Unemployment
  • Deleted
VNEQ.UN_RDPIncomes : Dividends paid Overseas to YDPC$
  • Deleted
VNEQ.UN_RFINBuilding & Construction to Plant & Equipment by pfe
  • Deleted


Table 15: NIF Taxes & Transfers - Seasonally Adjusted ($ million)
NIF SeriesDescriptionDerivation
VNEQ.AC_TCB$Secondary income receivable - Social benefits receivable - Social assistance benefits
  • Table 36
VNEQ.AC_TCD$Taxes on international trade
  • Treasury series SEP66 TO JUN72. From SEP72 Table 39
VNEQ.AC_TCGNPI$Secondary income receivable -

Current Grants to Non-Profit Institutions
  • Table 36
VNEQ.AC_TEX$Excise Duties
  • Treasury series SEP66 TO JUN72. From SEP72 Table 39
VNEQ.AC_TIC$Indirect Taxes : Commonwealth Government
  • Deleted
VNEQ.AC_TIS$Indirect Taxes : State & Local Government
  • Deleted
VNEQ.AC_TIT$Indirect Taxes : Total
  • Total Taxes - Total taxes on income Table 39
VNEQ.AC_TOD$Other Direct Taxes : Persons
  • Deleted
VNEQ.AC_TOI$Other Indirect Taxes : Commonwealth Government
  • Deleted
VNEQ.AC_TOTH$Net Other Income Tax (not PAYE) : Persons
  • Deleted
VNEQ.AC_TPAY$Gross PAYE Instalments : Persons
  • Combined with VNEQ.AC_TREF$
VNEQ.AC_TPD$Secondary income payable -Income tax payable
  • Table 36
VNEQ.AC_TPR$Payroll Tax
  • Table 39
VNEQ.AC_TREF$Refunds on PAYE Instalments to Persons
  • Combined with VNEQ.AC_TPAY$
VNEQ.AC_TSA$Sales Tax
  • Table 39
VNEQ.AC_TSB$--Uses of income - Primary income payable - Subsidies
  • Table 38
VNEQ.AC_TSL$State & Local Government Indirect Taxes
  • Deleted
VNEQ.UK81_TCBOCash Benefits (excludes Unemployment Benefit) (original)
  • Deleted
VNEQ.UK81_TUBRWeighted Average Unemployment Benefit (original)
  • Deleted


Table 16: NIF Incomes - Seasonally Adjusted ($ million)
NIF SeriesDescriptionDerivation
VNEQ.AC_YDPC$Net Dividends Paid in Australia by Corp Trading Ents
  • Deleted
VNEQ.AC_YDRP$Dividends Received by Persons
  • Unpublished National Accounts series
VNEQ.AC_YDW$Dwellings Rent Received by Persons
  • Unpublished National Accounts series
VNEQ.AC_YPO$Other - Persons
  • Deleted
VNEQ.AC_YTO$Capital transfers - Payable to non-residents
  • Table 33
VNEQ.AC_YU$Non-Farm Unincorporate Trading Ents
  • Unpublished National Accounts series
VNEQ.AC_YUF$Farm Unincorp Trading Ents
  • Unpublished National Accounts series
VNEQ.AC_YUFXX$Net Rent Payments & Other t/fers by Farm Uncorp Ents
  • Deleted
VNEQ.AC_YWF$Farm Wages Salaries & Supplements
  • Treasury series SEP66 TO SEP90. From DEC90 Unpublished National Accounts series
VNEQ.AC_YWN$Non-Farm Compensation of employees
  • Table 41
VNEQ.AK90_YHDHousehold disposable income (cvm)
  • Deleted
VNEQ.AC_YOC$Gross Operating Surplus :
Private non-financial corporations
  • Table 19
VNEQ.AC_YODP$Gross Operating Surplus - Dwellings Owned by Persons
  • Table 19
VNEQ.AC_YODT$Gross Operating Surplus : Dwellings
  • Deleted
VNEQ.AC_YOF$Gross Operating Surplus : Private financial corporations
  • Table 19
VNEQ.AC_YOFU$Gross Operating Surplus : Farm Unincorp Trading Ents
  • Deleted
VNEQ.AC_YOFUX$Gross Operating Surplus : Farm corporate trading Ents
  • Deleted
VNEQ.AC_YOP$Gross Operating Surplus :
Public non-financial corporations
  • Table 19
VNEQ.AC_YOU$Gross Operating Surplus : Non-Farm Unincorp Trading Ents
  • Unpublished National Accounts series
VNEQ.AC_YOC$Gross Operating Surplus :
Total Private non-financial corporations and Private financial corporations
  • Deleted
VNEQ.AC_YOG$Gross Operating Surplus : General government
  • Table 19


Table 17: NIF Budget Sector - Seasonally Adjusted ($ million)
NIF SeriesDescriptionDerivation
VNEQ.AC_BAS$Advances to States
  • Deleted
VNEQ.AC_BDPC$Public Gross Fixed Capital Forumation Total general government
  • Table 9
VNEQ.AC_BTC$Taces on income - Resident corporations
  • Table 39
VNEQ.AC_BTOR$Total gross income
  • Table 38
VNEQ.AC_BTSB$Use of Income - Primary income payable - Subsidies
  • Table 38
VNEQ.UC_BGS$Grants to States (original)
  • Deleted
VNEQ.UC_BTCB$Secondary income receivable - Social benefits receivable -Social assistance benefits (original)
  • Table 68

Table 18: NIF Increase in Stocks - Seasonally Adjusted ($ millions)
NIF SeriesDescriptionDerivation
VNEQ.AC_SOPA$Changes in inventories - Public Authorities
  • Table 33
VNEQ.AK90_SOPAChanges in inventories - Public authorities (cvm)
  • Table 22


Table 19: NIF Miscellaneous - Seasonally Adjusted
NIF SeriesDescriptionDerivation
VNEQ.AN_NHTAverage Weekly Hours : total (hours)
  • LABOUR FORCE
VNEQ.AN_NHWAverage Weekly Hours : Wage & Salary Earners (hours)
  • LABOUR FORCE
VNEQ.UN_QTIMLinear Time Trend (100 in June qtr 1966)
  • Deleted
VNEQ.UI70_RTWISTrade Weighted Index Value of $AUS (original)
  • www.rba.gov.au
VNEQ.AC_WAR$Average non-farm compensation per employee per week ($)
  • Base on Table 41 and a standard 13 week quarter.
VNEQ.AN_WGSHWages share of total factor income
  • Base on Table 41 / 100
VNEQ.AC_$LNTRNet Transfer Receipts ($ million)
  • Deleted




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