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Another measure of national economic well-being is Real net national disposable income (RNNDI). This measure adjusts the volume measure of GDP for the Terms of trade effect, Real net incomes from overseas and Consumption of fixed capital (depreciation). In 2006-07, RNNDI (up 3.9%) grew more strongly than GDP reflecting strong growth of 6.7% in the Terms of trade (see international trade), offset to some extent by 8.0% growth in Real net incomes payable to the rest of the world.
The Household saving ratio is another key aggregate in the national accounts. Household saving cannot be directly measured. It is calculated as a residual by deducting Household final consumption expenditure from Household net disposable income.
The index of Market sector Multifactor productivity (MFP), hours worked basis, fell 0.6% in 2006-07, reflecting a 3.1% increase in Gross value added for the Market sector against an increase of 3.8% in total labour and capital inputs. Hours worked in the market sector increased by 2.7% in 2006-07, resulting in labour productivity growth of 0.4% in 2006-07. Capital services continued to grow in 2006-07, recording a strong growth rate of 5.1%. The increase in Capital services was more than the increase in Gross value added resulting in a fall of 1.9% in capital productivity in 2006-07. For more information refer to Productivity.
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