5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2003
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2003
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Seasonally adjusted estimates
A feature article, titled 'Statistical Treatment of Economic Activity in the Timor Sea'.
REVISIONS IN THIS ISSUE
Revisions have been made to a number of aggregates. Their net effect on the June quarter 2003 estimate of seasonally adjusted GDP (in chain volume terms) has been to increase quarterly growth by 0.2 percentage points. The causes of the revisions fall into three categories. First, there are the normal quarterly revisions due to the incorporation of more up-to-date source data. In particular, government final consumption expenditure in 2002-03 has been revised upwards, due to some sales of goods and services being reclassified as other non-taxation revenue. Second, the quarterly series have been benchmarked to revised data from the annual supply and use tables for 1999-2000 to 2001-02. The revised annual benchmarks were first published in the Australian System of National Accounts (cat. no. 5204.0) released on 5 November 2003. Third, a major source of revision to quarter-on-quarter growth rates has been the annual seasonal reanalysis that is undertaken on all series. This has caused revisions in all series to varying degrees. Seasonally adjusted movements in GDP have been largely unaffected by the revisions to component series. More details on the revisions to the estimates are presented in the Analysis and comments section on pages 14 and 15.
CHANGES IN THIS ISSUE
As announced in the June quarter 2003 release of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0), changes have been made to the format of this publication. The changes, developed in consultation with users of 5206.0, involve a rearrangement of currently published times series into different tables, the introduction of additional series and the move of some time series into an electronic only release format. At the same time the opportunity has been taken to include in the paper publication some additional information, such as a contents page, a complete listing of available electronic tables and a glossary.
For further information contact Michael Anderson on Canberra 02 6252 6713 for income & consumption estimates, and Patricia Mahony on Canberra 02 6252 6711 for investment, trade & industry estimates.
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