5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2014 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2014
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SEPTEMBER KEY POINTS
EXPENDITURE ON GDP
INDUSTRY GROSS VALUE ADDED
REVISIONS IN THIS ISSUE
The estimates in this issue incorporate the 2012-13 annual supply and use tables. For information on the role of supply and use tables in the national accounts and the major revisions please see the 'Analysis of Results' section Australian System of National Accounts (ABS cat. no. 5204.0). There are also revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment.
When the annual national accounts are compiled, a new base year is introduced. In the June quarter release of the quarterly national accounts, GDP growth for 2013-14 was expressed in 2011-12 prices. The introduction of a new base year in the annual accounts meant that GDP growth for 2013-14 could be expressed in 2012-13 prices for the first time. As a result, the 10.0% fall in the Terms of trade experienced in 2012-13 was reflected in the 2013-14 growth rate, and the 2.9% growth rate published in the June quarter release of the quarterly national accounts was revised to 2.5%. Introducing a new base year as part of compiling the annual national accounts is standard statistical practice in Australia.
CHANGES IN THIS ISSUE
This issue sees the introduction of quarterly income accounts for the non-financial corporations and financial corporations sectors. These are quarterly counterparts to the annual income accounts for these sectors which are published in Australian System of National Accounts (ABS cat. no. 5204.0). Quarterly estimates for these sectors are published in original, seasonally adjusted and trend terms. These new quarterly tables are electronic only.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or National Accounts by email <firstname.lastname@example.org>.
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