Australian Bureau of Statistics
5676.0 - Business Indicators, Australia, Mar 2007
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2007
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CHAIN VOLUME ESTIMATES
CURRENT PRICE ESTIMATES
COMPARISON BETWEEN COMPANY GROSS OPERATING PROFITS AND GROSS OPERATING SURPLUS
Price 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. As prices for inventories have fallen in the March quarter, growth in GOS will be higher after the application of the IVA. The IVA for the March quarter is -$379m which is $847m lower than December quarter IVA of $468m. 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 the two series. 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, it is not the case that the two series will have equivalent seasonally adjusted movements from quarter to quarter.
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This page last updated 31 August 2007