5676.0 - Business Indicators, Australia, Mar 2011
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 30/05/2011
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MARCH KEY POINTS
CHAIN VOLUME ESTIMATES
CURRENT PRICE ESTIMATES
IMPACT OF THE FLOODS
Heavy rain and flooding occurred in Queensland and other states in late 2010 and early 2011. The December quarter issue of this publication presented the first significant economic impact of these floods. This current issue presents the continued impact. There were no significant data reporting issues this quarter.
COMPARISON BETWEEN COMPANY GROSS OPERATING PROFITS AND GROSS OPERATING SURPLUS
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 March quarter 2011 is $2,796m which is $3,782m higher than the December quarter 2010 IVA of (-$986m).
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.
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.
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