SEPTEMBER KEY FIGURES
SEPTEMBER KEY POINTS
CHAIN VOLUME ESTIMATES
Inventories (volume terms),
Company gross operating profits,
CURRENT PRICE ESTIMATES
- The trend estimate for inventories rose 0.7% in the September quarter 2012. The seasonally adjusted estimate rose 1.1% this quarter.
- The trend estimate for Manufacturing sales of goods and services fell 0.2% this quarter. The seasonally adjusted estimate rose 1.3%.
- The trend estimate for Wholesale trade sales of goods and services rose 1.9% this quarter. The seasonally adjusted estimate rose 2.0%.
- The seasonally adjusted estimate for company gross operating profits fell 2.9% in the September quarter 2012.
- The seasonally adjusted estimate for wages and salaries fell 0.2% in the September quarter 2012.
COMPARISON BETWEEN COMPANY GROSS OPERATING PROFITS AND GROSS OPERATING SURPLUS
|ISSUE (QUARTER) ||Release Date|
|December 2012 ||4 March 2013|
|March 2013 ||3 June 2013|
|June 2013 ||2 September 2013|
|September 2013 ||2 December 2013|
Valuation changes have had an impact on the value of inventories held by Australian businesses this quarter. An inventories valuation adjustment (IVA) is applied in the calculation of the gross operating surplus of private non-financial corporations (GOS) estimate in the Australian National Accounts. The IVA for the September quarter 2012 is -$1,642m which is -$2,262m lower than the June quarter 2012 IVA of $620m.
No adjustment is made to the company gross operating profits (CGOP) estimate in this publication and, as a result, users should exercise caution when comparing CGOP and GOS. It should be noted that there are other differences between the two series. In particular, changes are made to GOS when annual benchmarks are applied and slightly different seasonal factors apply to the two series. Given this, while CGOP movements are an appropriate indicator for GOS, the two series will not have equivalent seasonally adjusted movements from quarter to quarter.
CHANGES IN THIS ISSUE
- A feature article titled 'Business Indicators Survey - Profit Measures' which presents a summary of profit measures published in Business Indicators, Australia 5676.0 is published on the web page this quarter.
- Each September quarter the reference and base year for chain volume estimates for the Business Indicators Survey are updated. A new base year, 2010-11, has been introduced into the chain volume estimates which has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2010-11. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the level of, but not the movements in, chain volume estimates.
- As happens each year, a seasonal re-analysis has been undertaken based on estimates up to and including the June quarter 2012. No significant changes have occurred in this re-analysis, resulting in only minor revisions to the seasonally adjusted estimates.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Didier Rivet on Sydney (02) 9268 4900.