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5260.0.55.002 - Estimates of Industry Multifactor Productivity, 2012-13  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/12/2013   
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  • Explanatory Notes

INTRODUCTION

1. This data cube provides estimates of multifactor productivity (MFP) for individual industries in the Australian economy. The methodology for constructing the data is outlined in Chapter 19 of the Australian System of National Accounts, Concepts, Sources and Methods (cat. no. 5216.0). The ABS publishes industry level MFP estimates on an annual basis.

2. This data cube includes measures of input, output and MFP at the industry level from 1989-90 onwards for 12 industries, with the remaining market sector industries commencing in 1994-95. It goes beneath the aggregate economy to measure the productivity of individual industries. The 16 industries included in the data cube are as follows:

ANZSIC
Division
Industry
AAgriculture, Forestry and Fishing
BMining
CManufacturing
DElectricity, Gas, Water and Waste Services
EConstruction
FWholesale Trade
GRetail Trade
HAccommodation and Food Services
ITransport, Postal and Warehousing
JInformation, Media and Telecommunications
KFinancial and Insurance Services
LRental, Hiring and Real Estate Services
MProfessional, Scientific and Technical Services
NAdministrative and Support Services
RArts and Recreation Services
SOther Services

3. To assist data users to link these industry level estimates to aggregate measures in the Australian System of National Accounts (cat. no. 5204.0), this data cube also includes aggregate MFP measures for the market sector definition (see above, ANZSIC06 Divisions A to N and Divisions R and S) dating back to 1994-95. Also included is a 12 selected industry grouping (Divisions A to K and R), which is useful for analysing productivity performance from the perspective of a longer time series.


CHANGES IN THIS DATA CUBE

4. This data cube incorporates the updates to the 2012-13 edition of the Australian System of National Accounts (cat. no. 5204.0). It includes full historical revisions to industry chain volume value added, certain types of capital, and income, due to both updated source data and improved compilation methods.

5. Revisions to market sector chain volume value added are significant for recent years, with 2010-11 growth revised down 0.3 percentage points to 2.2% and 2011-12 revised up 1.1 percentage points to 4.2%.

6. Hours worked growth for the market sector was revised up 0.6 percentage points in 2011-12 to 0.9% due to updated labour force survey source data. There are also significant revisions to hours worked indices at the industry level prior to 2001, due to applying the latest concordance of data from ASIC 1983 to ANZSIC 1993. Prior to 2001, the industry hours worked indices are now more consistent with the equivalent original hours worked series published in the Labour Force, Australia, Detailed, Quarterly (cat. no. 6291.0.55.003).

7. Compensation of employees (COE) data was revised across all years with the incorporation of the 2010–11 Survey of Major Labour Costs (MLC). The COE revisions were more extensive in this cycle due to the intervening time since the 2002–03 survey of MLC. In this data cube, the revisions to COE is reflected in revised labour and capital income shares, used to weight the combined indexes of labour and capital. The revisions to income shares are most evident for the Financial and Insurance Services, Arts and Recreation Services, and Other Services.

8. The Finance and Insurance industry capital services index now aligns with the Standard Institutional Sector Classification of Australia, 2008 (SISCA) treatment. In SISCA, there are no unincorporated enterprises classified to this industry. Accordingly, the unincorporated effect has been removed. The statistical impact of this method change is negligible as previously the weight applied to unincorporated entities was small. For more information, see Feature Article: Revisions to Finance and Insurance Estimates in the Australian System of National Accounts published in the 2010-11 issue of the Australian System of National Accounts (cat. no. 5204.0).

9. There are significant revisions to the capital services index in Agriculture, mainly due to expansion in the coverage of livestock capital stock to include pigs, horses and chickens. Since the level of livestock real productive capital stock trends down over time, the higher weight has moderated the slope of the overall capital services index in this industry.

10. For a more detailed discussion about updates to the Australian System of National Accounts data, please refer to the Analysis of results section of the Australian System of National Accounts (cat. no. 5204.0).


INQUIRIES

11. For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Derek Burnell on Canberra (02) 6252 6427.

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