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1307.4 - South Australian Economic Indicators, Oct 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 01/10/2004  Ceased
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ABOUT THIS PUBLICATION

This publication provides an up-to-date overview of the South Australian economy and contrasts the State's performance with that of the Australian economy. It provides details of movements in a range of economic and social indicators.


OVERVIEW

The data in this Overview are presented in trend terms, unless otherwise stated.

Included in this overview are Statistical Summary tables showing comparisons between South Australia and Australia for a variety of economic and social indicators. Also included is a State Summary, showing the performance of all States and Territories for selected indicators.

Further detail on all the indicators shown below can be obtained by accessing the latest Data Cube attached to this publication. This Data Cube is available within the Related Links section on this page.


IMPORTANT CHANGES

June quarter 2004 is the last quarter that the ABS will be compiling the Price Index of Materials Used in Building Other than House Building. This data appears in the Statistical Summary (Part 2) of this publication. Users of this index, who are interested in discussing alternative indicators of price changes for these commodities, can contact Steve Whennan on Canberra (02) 6252 6251, or email <steve.whennan@abs.gov.au>.

The June Quarter 2004 figure for Sawn Timber production will be the last time this data is compiled. This data is published in Table 15 (refer to the Data Cube available within the Related Links section). At this stage, it is unlikely that alternative data will be available from the ABS in the future.


INTERNATIONAL TRADE

The value of South Australian merchandise exports (in original terms) for the month of July 2004 was $630.1m. This was a decrease of 6.2% from the previous month and 7.0% more than the value of exports in July 2003 ($588.8m).

The value of South Australian merchandise imports (in original terms) for July 2004 was $465.1m. This was an increase of 1.8% from the $456.8m recorded in June 2004, and 4.4% more than the July 2003 figure of $445.5m.

Merchandise Exports and Imports

Graph: Merchandise Exports and Imports
- See International Merchandise Imports, Australia (Timeseries, cat. no. 5439.0), International Trade in Goods and Services, Australia (cat. no. 5368.0)


CONSUMPTION AND INVESTMENT

In current price terms, the National Accounts figures for the June qtr 2004 showed that state final demand in South Australia increased by 2.0% from the March qtr 2004 ($14.8b) to $15.1b. This was also a 7.0% increase on the June qtr 2003 figure of $14.1b.

Household consumption expenditure grew by 1.8% from the March qtr 2004 to be $9.1b for the June qtr 2004. Private gross fixed capital formation was $2.8b for the June qtr 2004, a figure 1.0% higher than the previous quarter and 2.5% higher than the June qtr 2003.

Total retail turnover continued its steady increase, with a positive movement of 0.4% from June 2004 ($1,216.9m) to $1,222.1m in July 2004. In the twelve month period from July 2003, total retail turnover increased by 6.2% from $1,150.5m. The food retailing sector continued to be the main driver for retail turnover. The July 2004 figure ($496.7m), for food retailing, was 0.7% ($3.5m) higher than June 2004 and a 7.8% ($36.1m) increase on the same period last year.
Retail Turnover

Graph: Retail Turnover
- See Retail Trade, Australia (cat. no. 8501)

August 2004 saw a total of 5,189 new motor vehicle sales - an increase of 0.2% on the previous month. The August 2004 figure is 1.8% lower than the new vehicles sales recorded in August 2003 (5,285).
New Motor Vehicle Sales

Graphs: New Motor Vehicle Sales
- See Sales of New Motor Vehicles, Australia (cat. no. 9314.0.55.001)


HOUSING

In July 2004 the estimated total number of dwelling units approved in South Australia was 1,004, slightly higher than June 2004 (952) and also higher than the figure for July 2003 (912).
Dwelling Units Approved

Graph: Dwelling Units Approved
- See Building Approvals, Australia (cat. no. 8731.0)


CONSUMER PRICE INDEX

The all groups consumer price index in Adelaide for the June quarter 2004 was 148.6, an increase of 3.0% on the level recorded for the same period in 2003 and up 0.6% on the March quarter 2004.
Consumer Price Index

Graph: Consumer Price Index
- See Consumer Price Index, Australia (cat. no. 6401.0)


LABOUR FORCE AND DEMOGRAPHY

The estimate of employed persons in South Australia was 721,500 in August 2004, slightly higher than in August 2003 (719,000). The total number of persons employed full-time in South Australia was 496,300 in August 2004, lower than the August 2003 estimate of 502,100.
Employed Persons

Graph: Employed Persons
The trend estimate of the unemployment rate for South Australia was 6.2% in August 2004, the same as in August 2003. The trend estimate of the participation rate in South Australia was 61.6% in August 2004, slightly lower than in August 2003 (61.9%).
Unemployment Rate - Trend

Graph: Unemployment Rate - Trend
- See Labour Force, Australia (cat. no. 6202.0)


FINANCIAL MARKETS

The value of secured housing finance commitments (excluding alterations and additions, and including refinancing) was $611.8m in July 2004. This was a decrease of 0.4% from the previous month and 5.8% less than the value of commitments in July 2003 ($649.3m).
Secured Housing Finance Commitments (a)

Graph: Secured Housing Finance Commitments
(a) Excludes alterations and additions. Includes refinancing.
- See Housing Finance for Owner Occupation, Australia (cat. no. 5609.0)




STATISTICAL SUMMARY Part 1
South Australia
Australia
% change from
% change from
Indicator
Period
Number
Previous
period
Same period
previous year
Number
Previous
period
Same period
previous year
SA as a % of Australia
Source
index
State accounts
Domestic final demand
Chain volume measures trend ($m)
Jun qtr 04
14,708
1.4
4.9
207,933
1.2
5.9
7.1
1
Private final consumption expenditure
Current prices trend ($m)
Jun qtr 04
9,112
1.8
6.8
123,950
1.7
7.4
7.4
Chain volume measures trend ($m)
Jun qtr 04
8,873
1.3
4.9
121,734
1.3
6.1
7.3
1
Private gross fixed capital formation
Current prices trend ($m)
Jun qtr 04
2,821
1.0
2.5
43,213
1.2
7.4
6.5
Chain volume measures trend ($m)
Jun qtr 04
2,840
1.2
3.4
42,707
1.1
7.2
6.6
1
Compensation of employees
Current prices trend ($m)
Jun qtr 04
6,113
1.6
3.5
97,149
1.6
5.8
6.3
International accounts
Exports ($m)
July 04
630.1
-6.2
7.0
10,013.7
-3.7
17.5
6.3
2
Imports ($m)
July 04
465.1
1.8
4.4
12,557.8
1.9
18.4
3.7
2
Consumption and investment
Retail turnover
Current prices original ($m)
July 04
1,197.8
3.0
6.8
16,307.8
2.9
7.3
7.3
3
Current prices trend ($m)
July 04
1,222.1
0.4
6.2
16,600.9
0.5
7.0
7.4
3
Chain volume measures original ($m)
Jun qtr 04
3,337.6
2.2
4.1
45,921.3
2.4
7.6
7.3
3
New motor vehicle sales
Original (no.)
Aug 04
5,414
9.4
2.9
79,244
2.9
4.0
6.8
4
Trend (no.)
Aug 04
5,189
0.2
-1.8
78,510
-0.0
-0.2
6.6
4
Private new capital expenditure
Current prices original ($m)
Jun qtr 04
1,054
31.4
-7.8
13,620
23.0
2.2
7.7
5
Current prices trend ($m)
Jun qtr 04
951
0.5
-10.4
12,632
-0.5
-2.0
7.5
5
Private new capital expenditure ($m)
2003-04
3,906
-2.5
51,244
0.8
7.6
5
Tourist accommodation takings ($m)
Mar qtr 04
68.6
0.4
16.1
1,398.6
-6.7
12.4
4.9
6
Production
Dwelling unit approvals
Original (no.)
Jul 04
1,087
-0.1
5.8
14,519
-2.6
-11.4
7.5
7
Trend (no.)
Jul 04
1,004
5.5
10.1
14,437
-0.3
-3.1
7.0
7
Dwelling units commenced (no.)
Mar qtr 04
2,287
-17.5
-3.3
40,304
-12.9
4.7
5.7
8
Value of non-residential building approvals- trend ($m)
Jul 04
65.6
-4.4
-45.2
1,273.2
-1.4
-10.9
5.2
7777
Value of total building activity
Commenced ($m)
Mar qtr 04
564.0
-42.8
-0.5
13,058.9
-7.8
12.6
4.3
8
Work done ($m)
Mar qtr 04
718.0
-3.2
24.2
12,752.4
-7.4
14.0
5.6
8
Work yet to be done ($m)
Mar qtr 04
1,282.1
-9.4
28.6
23,600.3
3.9
14.9
5.4
8
Value of engineering construction work done ($m)
Mar qtr 04
368.7
-16.0
-18.4
6,566.1
-6.0
10.7
5.6
9
Manufacturing production
Red meat trend (tonnes)
Jun qtr 04
55,265
-0.3
-3.9
774,010
1.7
5.4
7.1
11
Mineral exploration expenditure (other than for petroleum) ($m)
Jun qtr 04
15.7
121.1
42.7
240.2
43.6
17.9
6.5
12



STATISTICAL SUMMARY Part 2
South Australia
Australia
% change from
% change from
Indicator
Period
Number
Previous
period
Same period
previous year
Number
Previous
period
Same period
previous year
SA as a % of Australia
Source index
Prices (a)
CPI- All groups (index no.)
Jun qtr 04
148.6
0.6
3.0
144.8
0.5
2.5
..
13
Price index of materials used in house building (index no.)
Jun qtr 04
140.6
1.7
2.8
136.1
1.3
3.0
..
14
Price index of materials used in building other than houses (index no.)
Jun qtr 04
129.7
2.9
3.7
130.7
3.0
4.0
..
14
Price index of established houses (index no.)
Jun qtr 04
232.8
5.7
33.7
248.2
-3.1
24.4
..
15
Price index of project homes (index no.)
Jun qtr 04
169.5
1.2
11.6
158.4
2.6
10.5
..
15
Labour force and demography
Population (resident at end qtr) ('000)
Mar qtr 04
1,533.2
0.2
0.6
20,061.8
0.3
2.4
7.6
16
Natural increase of the population ('000)
Mar qtr 04
1,637.0
33.4
7.5
26,349.0
-16.0
-13.7
6.2
16
Labour Force
Original ('000)
Aug 04
764.3
-0.1
0.5
10,128.1
-0.8
1.6
7.5
17
Trend ('000)
Aug 04
769.6
0.1
0.4
10,240.1
0.0
1.7
7.5
17
Employed persons
Original ('000)
Aug 04
717.7
-0.3
0.4
9,578.0
-1.0
1.9
7.5
17
Trend ('000)
Aug 04
721.5
0.1
0.4
9,663.7
0.0
2.1
7.5
17
Participation rate
Original (b) (%)
Aug 04
61.1
-0.1
-0.3
62.7
-0.6
0.0
..
17
Trend (b) (%)
Aug 04
61.6
0.0
-0.3
63.5
0.0
0.1
..
17
Unemployment rate
Original (b) (%)
Aug 04
6.1
0.3
0.1
5.4
0.2
-0.3
..
17
Trend (b) (%)
Aug 04
6.2
0.0
0.0
5.6
0.0
-0.4
..
17
Job vacancies ('000)
May 04
6.0
9.6
4.0
122.7
16.1
23.4
4.9
18
Industrial disputes ('000 working days lost)
Jun qtr 04
1.5
-69.4
15.4
152.9
90.2
175.5
1.0
19
Income
Average weekly earnings (full-time; ordinary time)
Original ($)
May qtr 04
876.00
0.9
1.9
949.50
0.2
3.1
..
20
Trend ($)
May qtr 04
873.30
0.5
1.6
952.50
0.7
3.8
..
20
Wage cost index (total hourly rate excluding bonuses)
(c) (index no.)
Jun qtr 04
124.2
0.3
4.5
124.3
0.6
4.2
..
21
Financial markets
Secured housing finance (d)
Original ($m)
Jul 04
638.8
0.6
-5.8
10,548.2
0.9
-7.5
6.1
22
Trend ($m)
Jul 04
611.8
-0.4
-5.8
10,050.0
1.0
-5.2
6.1
22
Finance commitments
Personal ($m)
Jul 04
402.2
-5.8
-10.9
6,576.0
-9.9
-6.0
6.1
23
Commercial ($m)
Jul 04
927.6
-27.9
-15.2
25,753.0
-2.9
3.1
3.6
23
Lease ($m)
Jul 04
15.4
-28.4
-7.2
520.0
-13.8
-19.1
3.0
23
Interest rates (b)
Banks - new housing loans (%)
Aug 04
..
..
..
7.05
0.0
0.50
..
24
Banks - business loans
Small, medium businesses (e) (%)
Aug 04
..
..
..
8.85
0.0
0.50
..
24
Large business (%)
Aug 04
..
..
..
8.85
0.0
0.50
..
24

(a) Base year of each index 1989-90 = 100.
(b) Change is shown in terms of percentage points.
(c) Base year of index Sep 1997 = 100.
(d) Excludes alterations and additions. Includes refinancing.
(e) Rate for business loans over $50,000.

STATE SUMMARY

Source
Indicator
Period
NSW
Vic.
Qld
SA
WA
Tas.
NT
ACT
index

SELECTED INDICATORS
CPI- All groups(a) (index no.)
Jun qtr
145.5
143.9
146.3
148.6
141.0
144.3
139.6
144.8
13
Participation rate trend (%)
Aug 04
62.1
63.6
65.0
61.6
65.0
59.4
71.0
70.9
17
Unemployment rate trend (%)
Aug 04
5.6
5.9
5.6
6.2
4.9
6.7
7.2
3.6
17
Average weekly earnings (full-time adults; ordinary time) trend ($)
May qtr
995.80
955.30
890.40
873.30
956.50
845.50
949.20
1,067.30
20

SELECTED INDICATORS PER HEAD OF POPULATION(b)
State final demand
Chain volume measures trend (c)
($'000)
Jun qtr
10.4
10.4
9.9
9.6
10.5
8.8
13.9
17.7
1
Retail turnover
Current prices original ($)
July 04
820.4
778.2
850.2
781.2
821.4
713.7
895.4
942.3
3
Current prices trend ($)
July 04
841.8
792.4
857.0
797.1
838.0
733.4
825.8
942.3
3
New motor vehicle sales
Aug 04
3.7
4.1
4.5
3.4
3.8
3.4
3.5
3.6
trend (no. per '000 population)
4
Private new capital expenditure
Jun qtr
549.0
570.5
584.4
620.3
1,098.8
379.9
2,339.4
410.6
Current prices trend ($)
5
Dwelling unit approvals
July 04
0.518
0.762
0.917
0.709
1.119
0.459
0.628
0.222
Original (no. per '000 population)
July 04
0.563
0.728
0.867
0.621
1.050
0.571
0.633
0.692
7
Trend (no. per '000 population)
Jul 04
584.9
489.9
534.7
416.6
567.0
305.8
394.6
420.8
7
Secured housing finance (d) ($)
22

PERCENTAGE CHANGE FROM PREVIOUS PERIOD
State final demand
Chain volume measures trend (c)
Jun qtr
1.1
1.1
1.6
1.4
1.0
0.6
0.6
0.9
1
Retail turnover
Current prices original
Jul 04
3.0
2.6
2.7
3.0
4.0
2.8
4.5
1.1
3
Current prices trend
Jul 04
0.7
-0.2
0.7
0.4
1.0
0.8
1.1
-0.0
3
New motor vehicle sales trend
Aug 04
-0.5
-0.2
0.5
0.2
0.8
0.7
-2.5
-0.8
4
Private new capital expenditure
Current prices trend (e)
Jun qtr
2.7
-2.9
1.5
0.5
-2.6
4.0
-1.1
-2.9
5
Dwelling unit approvals
Original (%)
Jul 04
-4.4
3.3
-7.1
-0.1
3.2
-5.6
-10.1
-62.7
7
Trend (%)
Jul 04
-1.4
-1.9
0.3
5.5
1.6
-1.8
7.1
-9.8
7
CPI- All groups (%)
Jun qtr
0.3
0.3
0.6
0.6
1.0
0.9
0.4
0.6
13
Participation rate trend (e)
Aug 04
-0.2
0.1
0.0
0.0
-0.2
0.0
0.0
-0.2
17
Unemployment rate trend (e)
Aug 04
0.0
0.1
-0.1
0.0
-0.1
0.0
0.4
0.0
17
Average weekly earnings (full-time adults;ordinary time) trend
May qtr
0.8
0.5
0.8
0.5
0.9
0.8
1.3
0.0
20
Secured housing finance (d)
Jul 04
-2.6
7.2
-1.5
0.6
5.5
5.7
0.8
-5.1
22

(a) Base year of index 1989-90=100.
(b) The latest quarterly estimate of Australian resident population has been used to calculate ratios for subsequent periods.
(c) Reference year for chain volume measures is 2001-02.
(d) Excludes alterations and additions. Includes refinancing.
(e) Change is shown in terms of percentage points.



SOURCE INDEX FOR STATISTICAL & STATE SUMMARY TABLES

1
    Australian National Accounts: National Income, Expenditure and Product (Cat. no. 5206.0) - and ABS data available on request
2
    International Trade in Goods and Services (Cat. no. 5368.0) and International Merchandise Imports (Cat. no. 5349.0). Further detail available on request and in the associated datacubes.
3
    Retail Trade, Australia (Cat. no. 8501.0) Monthly
4
    Sales of New Motor Vehicles, Australia (Cat. no. 9314.0.55.001) Monthly
5
    Private New Capital Expenditure and Expected Expenditure, Australia (Cat. no.5625.0) Quarterly - and Ausstats data.
6
    Tourist Accommodation, Australia (Cat. no. 8635.0) Quarterly
7
    Building Approvals, Australia (Cat. no. 8731.0) Monthly
8
    Building Activity, Australia (Cat. no. 8752.0) Quarterly
9
    Engineering Construction Activity, Australia (Cat. no. 8762.0) Quarterly
10
    Manufacturing Production, Australia (Cat. no. 8301.0) Quarterly
11
    Livestock Products, Australia (Cat. no. 7215.0) Quarterly - and ABS data available on request.
12
    Actual and Expected Private Mineral Exploration, Australia (Cat. no. 8412.0) Quarterly
13
    Consumer Price Index (Cat. no. 6401.0) Quarterly
14
    Producer Price Indexes, Australia (Cat. no. 6427.0) Quarterly
15
    House Price Indexes: Eight Capital Cities (Cat. no. 6416.0) Quarterly
16
    Australian Demographic Statistics (Cat. no. 3101.0) Quarterly
17
    Labour Force, Australia (Cat. no. 6202.0) Monthly
18
    Job Vacancies, Australia (Cat. no. 6354.0) Quarterly
19
    Industrial Disputes, Australia (Cat. no. 6321.0) Monthly
20
    Average Weekly Earnings, Australia (Cat. no. 6302.0) Quarterly
21
    Wage Cost Index, Australia (Cat. no. 6345.0) Quarterly
22
    Housing Finance for Owner Occupation, Australia (Cat. no. 5609.0) Monthly
23
    Lending Finance, Australia (Cat. no. 5671.0) Monthly - and ABS data available on request.
24
    Reserve Bank of Australia Bulletin





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