5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2009

On 16 December 2009, the ABS released quarterly national accounts estimates based on new international standards, the System of National Accounts 2008 (SNA08) and Balance of Payments and International Investment Position Manual, sixth edition (BPM6), and the new industry classification: Australian and New Zealand Standard Industrial Classification, 2006 (ANZSIC06) and the new Standard Economic Sector Classification of Australia, 2008 (SESCA08).

The release included the first release of national accounts estimates for the September quarter 2009 and revised historical series back to 1959.

Errors have subsequently been identified in some of the series released. The errors limit the usefulness of some of the series, particularly for modelling and forecasting purposes. Specifically:

The quarterly estimates of the value added of agriculture contained an error which resulted in the published seasonally adjusted series containing significant residual seasonality. This impacted on the Farm and Non-farm GDP historical time series. The series has been recalculated with the correct seasonal adjustment.
An error was identified in the estimation of components of household final consumption expenditure (HFCE). The errors were corrected. This impacted on state estimates of HFCE and had some impact on current price HFCE at the national level.

Neither correction had an impact on the September quarter 2009 headline measure, the growth in the seasonally adjusted chain volume measure of GDP.

This page last updated 2 March 2010

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Main Features Analysis and Comments Expenditure Chain Volume Measures Income at Current Prices Production Chain Volume Measures State Final Demand Chain Volume Measures Recent and Upcoming Releases About this Release Australian economy continues to grow (Media Release)	On 16 December 2009, the ABS released quarterly national accounts estimates based on new international standards, the System of National Accounts 2008 (SNA08) and Balance of Payments and International Investment Position Manual, sixth edition (BPM6), and the new industry classification: Australian and New Zealand Standard Industrial Classification, 2006 (ANZSIC06) and the new Standard Economic Sector Classification of Australia, 2008 (SESCA08). The release included the first release of national accounts estimates for the September quarter 2009 and revised historical series back to 1959. Errors have subsequently been identified in some of the series released. The errors limit the usefulness of some of the series, particularly for modelling and forecasting purposes. Specifically: The quarterly estimates of the value added of agriculture contained an error which resulted in the published seasonally adjusted series containing significant residual seasonality. This impacted on the Farm and Non-farm GDP historical time series. The series has been recalculated with the correct seasonal adjustment. An error was identified in the estimation of components of household final consumption expenditure (HFCE). The errors were corrected. This impacted on state estimates of HFCE and had some impact on current price HFCE at the national level. Neither correction had an impact on the September quarter 2009 headline measure, the growth in the seasonally adjusted chain volume measure of GDP. Document Selection These documents will be presented in a new window. This page last updated 2 March 2010

Australian Bureau of StatisticsCelebrating the International Year of Statistics 2013

Australian Bureau of Statistics
Celebrating the International Year of Statistics 2013