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1307.4 - South Australian Economic Indicators, May 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/05/2004   
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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 at the bottom of this page.


INTERNATIONAL TRADE

The value of South Australian merchandise exports (in original terms) for the month of February 2004 was $660.7m. This was an increase of 27.8% from the previous month and 5.8% less than the value of exports in February 2003 ($701.1m).

The value of South Australian merchandise imports (in original terms) for February 2004 was $395.8m. This was an increase of 0.8% from the $392.8m recorded in January 2004 and 24.2% less than the February 2003 figure of $522.2m.

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


Retail Turnover continued its steady increase, with a positive movement of 0.5% from January 2004 ($1,148.8m) to $1,155.0m in February 2004. In the twelve month period from February 2003, total retail turnover increased by 5.4% from $1,095.4m.
Retail Turnover

Graph - Retail Turnover
- See Retail Trade, Australia (cat. no. 8501.0)

March 2004 saw a total of 5,204 new motor vehicle sales - a decrease of 0.2% on the previous month's figure of 5,215 vehicles. However, the March figure is 4.3% higher than the new vehicles sales recorded in March 2003 (4,991).
New Motor Vehicle Sales

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


HOUSING

In February 2004 the estimated total number of dwelling units approved in South Australia was 897, slightly lower than January 2004 (914) however this was 36 more than the 861 recorded in February 2003.
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 March quarter 2004 was 147.7, an increase of 2.1% on the level recorded for the same period in 2003 and up 1.0% on the December quarter 2003.
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 716,300 in March 2004, slightly lower than the peak in July 2003 (719,800) and similar to the level of twelve months ago (714,200). The total number of persons employed full-time in South Australia was 487,400 in March 2004, lower than the March 2003 estimate of 503,300.
Employed Persons

Graph - Employed Persons
The estimate of the unemployment rate for South Australia was 6.5% in March 2004 and was higher than the March 2003 estimate of 6.2%. The estimate of the participation rate in South Australia was 61.5% in March 2004 compared to 61.7% in March 2003, lower than the most recent peak of 62.1% in June 2003.

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 $628.0m in February 2004. This was a decrease of 2.0% from the previous month and an increase of 13.5% over the value of commitments in February 2003 ($553.1m).
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 ($m)
Dec qtr 03
14,061
0.6
5.3
199,540
1.7
5.9
7.0
1
Private final consumption expenditure
Current prices trend ($m)
Dec qtr 03
8,744
1.3
5.3
119,673
1.8
6.5
7.3
Chain volume measures trend ($m)
Dec qtr 03
8,366
0.8
3.4
116,240
1.6
5.4
7.2
1
Private gross fixed capital formation
Current prices trend ($m)
Dec qtr 03
2,887
0.6
15.4
43,382
3.6
12.5
6.7
Chain volume measures trend ($m)
Dec qtr 03
2,849
0.1
14.6
42,244
2.9
10.4
6.7
1
Compensation of employees
Current prices trend ($m)
Dec qtr 03
5,943
0.2
3.5
93,901
1.0
5.3
6.3
International accounts
Exports ($m)
Feb 04
660.7
27.8
-5.8
8,389.9
6.2
-7.4
7.9
2
Imports ($m)
Feb 04
395.8
0.8
-24.2
9,452.4
-4.9
-7.6
4.2
2
Consumption and investment
Retail turnover
Current prices original ($m)
Feb 04
1,032.7
-10.3
8.1
14,334.4
-9.0
11.6
7.2
3
Current prices trend ($m)
Feb 04
1,155.0
0.5
5.4
15,809.2
0.3
8.4
7.3
3
Chain volume measures original ($m)
Dec qtr 03
3,719.3
19.4
12.4
51,213.2
17.7
13.2
7.3
3
New motor vehicle sales
Original (no.)
Mar 04
5,561
9.9
8.0
86,046
13.4
13.1
6.5
4
Trend (no.)
Mar 04
5,204
-0.2
4.3
78,521
0.5
6.1
6.6
4
Private new capital expenditure
Current prices original ($m)
Dec qtr 03
1,075
10.6
-7.2
13,778
8.0
-4.3
7.8
5
Current prices trend ($m)
Dec qtr 03
991
-5.1
5.5
13,088
0.8
5.0
7.6
5
Private new capital expenditure ($m)
2002-03
4,020
29.1
..
51,093
15.1
..
7.9
5
Tourist accommodation takings ($m)
Dec qtr 03
68.3
12.9
5.2
1,499.3
9.2
14.1
4.6
6
Production
Dwelling unit approvals
Original (no.)
Feb 04
826
19.4
10.7
13,732
15.4
5.4
6.0
7
Trend (no.)
Feb 04
897
-1.8
4.2
14,301
-1.5
2.0
6.3
7
Dwelling units commenced (no.)
Dec qtr 03
2,776
9.2
1.3
46,696
6.6
4.7
5.9
8
Value of non-residential building approvals- trend ($m)
Feb 04
75.2
-17.1
-2.5
1,206.9
-3.2
-8.2
6.2
7
Value of total building activity
Commenced ($m)
Dec qtr 03
985.4
40.9
32.7
14,090.1
9.4
5.0
7.0
8
Work done ($m)
Dec qtr 03
750.3
11.7
23.4
13,844.8
8.0
13.4
5.4
8
Work yet to be done ($m)
Dec qtr 03
1,406.3
27.9
41.2
22,562.3
4.7
14.6
6.2
8
Value of engineering construction work done ($m)
Dec qtr 03
436.4
-1.1
-11.8
6,960.5
11.7
10.5
6.3
9
Manufacturing production
Red meat trend (tonnes)
Dec qtr 03
54,882
-1.3
-12.3
729,760
0.2
-7.7
7.5
11
Mineral exploration expenditure (other than for petroleum) ($m)
Dec qtr 03
9.6
3.2
-4.0
199.5
11.0
3.5
4.8
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.)
Mar qtr 04
147.7
1.0
2.1
144.1
0.9
2.0
..
13
Price index of materials used in house building (index no.)
Mar qtr 04
138.3
0.7
1.5
134.4
0.6
2.7
..
14
Price index of materials used in building other than houses (index no.)
Mar qtr 04
126.1
0.3
1.9
126.9
0.2
2.3
..
14
Price index of established houses (index no.)
Dec qtr 03
220.4
6.4
24.2
245.1
6.0
18.9
..
15
Price index of project homes (index no.)
Dec qtr 03
164.9
2.6
6.0
153.7
1.7
7.9
..
15
Labour force and demography
Population (resident at end qtr) ('000)
Sep qtr 03
1,529.4
0.1
0.6
19,941.3
0.3
1.3
7.7
16
Natural increase of the population ('000)
Sep qtr 03
1.3
-6.1
39.3
27.7
-12.7
12.1
4.8
16
Labour Force
Original ('000)
Mar 04
770.4
0.3
0.7
10,228.3
0.2
1.3
7.5
17
Trend ('000)
Mar 04
766.1
0.0
0.6
10,190.8
0.1
0.9
7.5
17
Employed persons
Original ('000)
Mar 04
724.0
1.9
0.9
9,626.8
0.9
2.0
7.5
17
Trend ('000)
Mar 04
716.3
0.1
0.3
9,608.8
0.1
1.5
7.5
17
Participation rate
Original (b) (%)
Mar 04
61.9
0.2
-0.1
63.8
0.1
-0.2
..
17
Trend (b) (%)
Mar 04
61.5
0.0
-0.2
63.6
0.1
-0.3
..
17
Unemployment rate
Original (b) (%)
Mar 04
6.0
-1.5
-0.2
5.9
-0.7
-0.7
..
17
Trend (b) (%)
Mar 04
6.5
-0.1
0.3
5.7
0.0
-0.5
..
17
Job vacancies ('000)
Feb 04
5.5
37.6
-21.9
105.7
0.0
-5.0
5.2
18
Industrial disputes ('000 working days lost)
Dec 03
0.3
-62.5
-40.0
37.7
-0.5
97.4
0.8
19
Income
Average weekly earnings (full-time; ordinary time)
Original ($)
Nov qtr 03
867.80
0.5
6.0
938.40
0.9
5.5
..
20
Trend ($)
Nov qtr 03
867.10
0.2
5.3
939.60
1.1
5.6
..
20
Wage cost index (total hourly rate excluding bonuses)
(c) index no.
Dec qtr 03
123.0
1.2
3.8
122.7
0.9
3.7
..
21
Financial markets
Secured housing finance (d)
Original ($m)
Feb 04
585.0
8.4
15.1
9,026.0
11.9
9.0
6.5
22
Trend ($m)
Feb 04
628.0
-2.0
13.5
9,896.0
-3.1
10.3
6.3
22
Finance commitments
Personal ($m)
Feb 04
389.8
8.0
6.7
5,980.9
5.6
7.7
6.5
23
Commercial ($m)
Feb 04
983.3
39.6
37.8
18,560.2
7.7
4.6
5.3
23
Lease ($m)
Feb 04
15.6
26.8
14.7
436.9
20.0
-1.5
3.6
23
Interest rates (b)
Banks - new housing loans (%)
Mar 04
..
..
..
7.05
0.0
0.50
..
24
Banks - business loans
Small, medium businesses (e) (%)
Mar 04
..
..
..
8.85
0.0
0.50
..
24
Large business (%)
Mar 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.)
Mar qtr
145.0
143.5
145.4
147.7
139.6
143.0
139.0
143.9
13
Participation rate trend (%)
Mar 04
62.6
63.2
64.8
61.5
65.7
59.2
71.9
72.0
17
Unemployment rate trend (%)
Mar 04
5.3
5.6
6.3
6.5
5.5
6.8
4.4
3.7
17
Average weekly earnings (full-time adults; ordinary time) trend ($)
Nov qtr
977.20
948.70
880.80
867.10
941.30
835.00
925.30
1,069.70
20

SELECTED INDICATORS PER HEAD OF POPULATION(b)
State final demand
Chain volume measures trend (c)
($'000)
Dec qtr
10.1
9.9
9.5
9.2
10.3
8.4
13.8
16.9
1
Retail turnover
Current prices original ($)
Feb 04
728.4
703.5
742.7
675.2
705.4
650.8
686.8
886.9
3
Current prices trend ($)
Feb 04
804.5
765.6
827.5
755.2
772.3
701.8
796.6
972.1
3
New motor vehicle sales
trend (no. per '000 population)
Mar 04
3.8
4.2
4.3
3.4
3.7
2.9
3.7
3.7
4
Private new capital expenditure
Current prices trend ($)
Dec qtr
525.1
612.1
595.5
648.0
1,220.1
330.2
2,567.8
452.6
5
Dwelling unit approvals
Original (no. per '000 population)
Feb 04
0.578
0.686
0.824
0.540
1.023
0.420
0.413
0.670
7
Trend (no. per '000 population)
Feb 04
0.555
0.766
0.925
0.598
1.033
0.479
0.478
0.490
7
Secured housing financed) ($)
Feb 04
506.2
390.0
477.9
382.5
500.4
244.8
382.6
395.9
22

PERCENTAGE CHANGE FROM PREVIOUS PERIOD
State final demand
Chain volume measures trend (c)
Dec qtr
1.2
0.9
3.1
0.6
1.8
2.1
2.0
0.5
1
Retail turnover
Current prices original
Feb 04
-8.9
-6.7
-11.4
-10.3
-10.2
-8.8
-3.9
-5.0
3
Current prices trend
Feb 04
-0.1
0.6
0.3
0.5
0.3
0.2
0.2
-0.2
3
New motor vehicle sales trend
Mar 04
0.4
0.1
1.8
-0.2
0.4
-3.0
3.7
-1.1
4
Private new capital expenditure
Current prices trend (e)
Dec qtr
-0.9
-1.8
1.6
-5.1
7.2
-7.1
3.2
-6.4
5
Dwelling unit approvals
Original (%)
Feb 04
42.8
-7.1
7.9
19.4
29.3
1.5
13.9
89.5
7
Trend (%)
Feb 04
-0.1
-1.8
-1.3
-1.8
-0.6
0.2
-1.9
3.6
7
CPI- All groups (%)
Mar qtr
1.0
1.0
0.8
1.0
0.3
0.7
0.4
0.7
13
Participation rate trend (e)
Mar 04
0.1
0.1
-0.1
-0.0
-0.1
0.2
0.2
0.2
17
Unemployment rate trend (e)
Mar 04
-0.9
0.3
0.9
-0.9
-2.0
-0.5
-2.7
-1.5
17
Average weekly earnings (full-time adults;ordinary time) trend
Nov qtr
0.6
1.5
2.2
0.2
1.4
0.2
1.5
0.8
20
Secured housing finance
Feb 04
13.5
2.5
20.8
8.4
12.0
4.9
50.7
12.8
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.

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