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1307.4 - South Australian Economic Indicators, Nov 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/11/2004   
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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 appeared 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 August 2004 was $693.5m. This was an increase of 9.0% from the previous month and 12.8% more than the value of exports in August 2003 ($614.7m).

The value of South Australian merchandise imports (in original terms) for August 2004 was $461.2m. This was a decrease of 1.0% from the $465.7m recorded in July 2004, and 7.3% more than the August 2003 figure of $429.9m.


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

Total retail turnover continued its steady increase, with a positive movement of 0.3% from July 2004 ($1,214.6m) to $1,217.9m in August 2004. In the twelve month period from August 2003, total retail turnover increased by 5.5% from $1,154.3m.

Retail Turnover

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

September 2004 saw a total of 5,288 new motor vehicle sales - an increase of 0.6% on the previous month. The September 2004 figure is 0.4% lower than the new vehicles sales recorded in September 2003 (5,308).

New Motor Vehicle Sales

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


HOUSING

In August 2004 the estimated total number of dwelling units approved in South Australia was 948, slightly lower than July 2004 (949) and also lower than the estimated total approved in August 2003 (962).

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 September quarter 2004 was 149.0, an increase of 2.5% on the level recorded for the same period in 2003 and up 0.3% on the June quarter 2004.

Consumer Price Index

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


LABOUR FORCE AND DEMOGRAPHY

The trend estimate of employed persons in South Australia was 721,300 in September 2004, slightly higher than in September 2003 (717,900). The total number of persons employed full-time in South Australia was 494,500 in September 2004, lower than the September 2003 estimate of 499,100.

Employed Persons

Graph: Employed Persons

The trend estimate of the unemployment rate for South Australia was 6.2% in September 2004, slightly lower than in September 2003 (6.3%). The trend estimate of the participation rate in South Australia was 61.5% in September 2004, slightly lower than in September 2003 (61.8%).

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 $624.4m in August 2004. This was a increase of 0.4% from the previous month and 4.5% less than the value of commitments in August 2003 ($653.5m).

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 ($m)
Aug 04
693.5
9.0
12.8
10,369.5
3.0
14.4
6.7
2
Imports ($m)
Aug 04
461.2
-1.0
7.3
12,168.6
-3.0
12.0
3.8
2
Consumption and investment
Retail turnover
Current prices original ($m)
Aug 04
1,142.2
-4.7
3.5
15,829.7
-3.0
4.4
7.2
3
Current prices trend ($m)
Aug 04
1,218.0
0.3
5.5
16,630.6
0.4
6.3
7.3
3
Chain volume measures original ($m)
Jun qtr 04
3,337.6
2.2
4.1
45,921.3
2.4
7.6
7.3
3
New motor vehicle sales
Original (no.)
Sep 04
5,289
-2.3
1.3
80,452
1.5
3.4
6.6
4
Trend (no.)
Sep 04
5,288
0.6
-0.4
79,961
0.5
2.0
6.6
4
Private new capital expenditure
Current prices original ($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 ($m)
Jun qtr 04
60.9
-11.2
7.2
1,277.5
-8.7
10.2
4.8
6
Production
Dwelling unit approvals
Original (no.)
Aug 04
853
-21.5
-7.2
14,173
-2.9
-4.8
6.0
77
Trend (no.)
Aug 04
948
-0.1
-1.5
13,986
-1.4
-7.2
6.8
77
Dwelling units commenced (no.)
Jun qtr 04
2,546
2.0
0.6
43,804
0.2
7.6
5.8
8
Value of non-residential building approvals- trend ($m)
Aug 04
66.3
-3.4
-49.8
1,476.5
3.9
2.9
4.5
7777
Value of total building activity
Commenced ($m)
Jun qtr 04
691.7
25.5
4.9
13,596.3
4.2
15.4
5.1
8
Work done ($m)
Jun qtr 04
764.1
7.0
18.8
14,139.4
9.6
19.6
5.4
8
Work yet to be done ($m)
Jun qtr 04
1,265.4
-0.7
21.6
23,702.1
1.1
13.4
5.3
8
Value of engineering construction work done ($m)
Jun qtr 04
449.7
12.8
22.6
7,499.0
13.6
46.6
6.0
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.)
Sep qtr 04
149.0
0.3
2.5
145.4
0.4
2.3
..
13
Price index of materials used in house building (index no.)
Sep qtr 04
142.0
1.0
3.3
137.2
0.8
3.2
..
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)
Sep 04
769.4
0.7
0.1
10,372.5
2.4
2.1
7.4
17
Trend ('000)
Sep 04
768.9
0.0
0.4
10,258.3
0.1
1.7
7.5
17
Employed persons
Original ('000)
Sep 04
724.3
0.9
0.3
9,802.9
2.3
2.5
7.4
17
Trend ('000)
Sep 04
721.3
0.0
0.5
9,681.2
0.1
2.0
7.5
17
Participation rate
Original (b) (%)
Sep 04
61.5
0.4
-0.5
64.1
1.4
0.2
..
17
Trend (b) (%)
Sep 04
61.5
0.0
-0.3
63.5
0.0
0.1
..
17
Unemployment rate
Original (b) (%)
Sep 04
5.9
-0.2
-0.2
5.5
0.1
-0.4
..
17
Trend (b) (%)
Sep 04
6.2
0.0
-0.1
5.6
0.0
-0.3
..
17
Job vacancies ('000)
Aug 04
7.0
15.0
8.6
127.6
4.0
17.3
5.5
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 ($m)
Aug 04
630.5
-1.3
2.8
10,476.4
-0.7
-2.3
6.0
22
Trend ($m)
Aug 04
624.4
0.4
-4.5
10,142.9
0.6
-6.5
6.2
22
Finance commitments
Personal ($m)
Aug 04
380.5
-5.4
-6.9
6,046.0
-8.1
-6.0
6.3
23
Commercial ($m)
Aug 04
918.1
-1.0
-3.2
24,157.0
-6.2
1.8
3.8
23
Lease ($m)
Aug 04
12.3
-20.1
-5.7
535.0
2.9
-1.5
2.3
23
Interest rates (b)
Banks - new housing loans (%)
Sep 04
..
..
..
7.05
0.0
0.50
..
24
Banks - business loans
Small, medium businesses (e) (%)
Sep 04
..
..
..
8.85
0.0
0.50
..
24
Large business (%)
Sep 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.)
Sep qtr
146.2
144.2
146.8
149.0
142.0
145.0
140.8
145.5
13
Participation rate trend (%)
Sep 04
62.0
63.7
65.3
61.5
64.8
59.4
70.6
70.7
17
Unemployment rate trend (%)
Sep 04
5.4
6.1
5.4
6.2
4.9
6.6
8.1
4.0
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)
($'000)
Jun qtr
10.4
10.4
9.9
9.6
10.5
8.8
13.9
17.7
1
Retail turnover
Current prices original ($)
Aug 04
794.2
761.7
832.0
745.0
791.8
668.9
876.1
911.3
3
Current prices trend ($)
Aug 04
837.6
798.1
863.6
794.4
841.1
731.8
826.0
947.5
3
New motor vehicle sales
Sep 04
3.8
4.1
4.5
3.4
4.0
3.6
3.8
3.6
trend (no. per '000 population)
4
Private new capital expenditure
Jun qtr
549.0
570.5
584.4
620.3
1,098.8
379.9
2,339.4
410.6
Current prices trend ($)
5
Dwelling unit approvals
Original (no. per '000 population)
Aug 04
0.542
0.727
0.925
0.556
0.997
0.498
0.818
0.398
7
Trend (no. per '000 population)
Aug 04
0.540
0.717
0.875
0.619
1.026
0.531
0.698
0.543
7
Secured housing finance (d) ($)
Aug 04
568.0
487.4
525.8
411.2
621.0
294.4
436.7
380.4
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
Aug 04
-3.2
-2.2
-2.2
-4.7
-3.9
-6.2
-2.5
-3.3
3
Current prices trend
Aug 04
0.2
0.1
0.7
0.3
0.7
0.4
0.6
0.1
3
New motor vehicle sales trend
Sep 04
3.8
4.1
4.5
3.4
4.0
3.6
3.8
3.6
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 (%)
Aug 04
2.5
-4.5
0.8
-21.5
-11.3
8.6
30.4
79.2
7
Trend (%)
Aug 04
-4.1
0.1
0.5
-0.1
-0.6
-5.9
7.9
-19.3
7
CPI- All groups (%)
Sep qtr
0.5
0.2
0.3
0.3
0.7
0.5
0.9
0.5
13
Participation rate trend (e)
Sep 04
-0.2
0.1
0.1
0.0
-0.2
0.0
-0.1
-0.2
17
Unemployment rate trend (e)
Aug 04
-0.2
0.1
0.1
0.0
-0.2
0.0
-0.1
-0.2
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)
Aug 04
-2.9
-0.5
-1.7
-1.3
9.5
-3.7
10.6
-9.6
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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