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5676.0 - Business Indicators, Australia, Dec 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 05/03/2007   
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DECEMBER KEY FIGURES

Sep Qtr 06 to Dec Qtr 06
Dec Qtr 05 to Dec Qtr 06
%
%

Sales of goods & services (Chain vol. meas.)
Manufacturing
Trend
0.9
1.0
Seasonally Adjusted
1.8
1.8
Wholesale trade
Trend
0.5
1.9
Seasonally Adjusted
1.8
2.8
Inventories (Chain vol. meas.)
Trend
-0.7
-2.1
Seasonally Adjusted
0.1
-1.7
Company gross operating profits
Trend
2.1
9.0
Seasonally Adjusted
2.5
9.1
Wages and salaries
Seasonally Adjusted
2.7
7.6

Inventories (volume terms), Trend estimates - Quarterly change
Graph: Inventories (volume terms)

Company gross operating profits (current prices), Trend estimates - Quarterly change
Graph: Company gross operating profits (current prices) Trend estimates Quarterly change



DECEMBER KEY POINTS


CHAIN VOLUME ESTIMATES

  • The trend estimate for inventories decreased 0.7% in the December quarter 2006. The seasonally adjusted estimate increased 0.1% this quarter following two consecutive quarters of falls. Increases in Mining, Manufacturing and Retail industries were partially offset by a decrease in Wholesale inventories.
  • The trend estimate for Manufacturing sales of goods and services increased 0.9% this quarter. The seasonally adjusted estimate increased 1.8% this quarter following an increase of 0.8% in the previous quarter.
  • The trend estimate for Wholesale trade's sales of goods and services increased 0.5% this quarter. The seasonally adjusted estimate increased 1.8% following relatively flat growth in the previous quarter.


CURRENT PRICE ESTIMATES
  • The trend estimate for company gross operating profits increased 2.1% in the December quarter 2006. The seasonally adjusted estimate increased 2.5%, the growth rate increasing in comparison to the previous quarter.
  • The trend estimate for wages and salaries increased 1.7% this quarter. The seasonally adjusted estimate increased 2.7% this quarter, the growth rate increasing in comparison to the previous four consecutive quarters.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2007 4 June 2007
June 2007 3 September 2007



CHANGES IN THIS ISSUE

There are no changes to this issue.



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 risen by less in the December quarter than in the September quarter, growth in GOS will be higher after the application of the IVA. The IVA for the December quarter is $408m which is $392m lower than September quarter IVA of $800m. 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 also 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.



REVISIONS IN THIS ISSUE

These data incorporate recently available information about the outputs of a number of companies with significant activity across more than one industry. There has been some reallocation of data between some industries (principally Mining, Manufacturing and Wholesale) across the key items although the total estimates are not affected.


There have also been revisions to the Property and Business Industry in this publication. An entity that was previously out of scope, has now been included due its significant activity in the industry and backcast to March quarter 2001. As a result the following series have been revised: Sales of Goods and Services, Company Gross Operating Profits and the related profits measures. These revisions have not significantly altered the movements for these series.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Fiona Cotsell on Sydney (02) 9268 4241.



ANALYSIS BY INDUSTRY


FEATURED SERIES

The following graphs and commentary refer to seasonally adjusted and trend estimates of: sales of goods and services ('Sales') and inventories ('Inv.') in volume terms; and wages and salaries ('Wages') and company gross operating profits ('CGOP') in current price terms.



TOTAL ALL INDUSTRIES

In current price terms, the trend estimate for company gross operating profits increased 2.1% in the December quarter 2006. The seasonally adjusted estimate increased 2.5% this quarter, after weaker growth of 0.5% in the September quarter 2006. In current price terms, the trend estimate for wages and salaries increased 1.7% this quarter. The seasonally adjusted estimate increased 2.7%, following four consecutive quarters of growth rates lower than 2.0%.

Graph: Total All Industries - CGOP and Wages


In volume terms, the trend estimate for total inventories decreased 0.7% this quarter. The seasonally adjusted estimate increased 0.1% this quarter, a slight increase following two consecutive quarters of falls.

Graph: Total All Industries - Inventories



MINING

In current prices, the trend estimate for company gross operating profits decreased 1.0% in the December quarter 2006. The seasonally adjusted estimate fell 2.1% following a fall of 3.9% in the previous quarter. In current price terms, the trend estimate for wages and salaries increased 2.6% this quarter. The seasonally adjusted estimate increased 1.4%, following a strong increase of 5.3% in the previous quarter.

Graph: Mining - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 0.7% this quarter. The seasonally adjusted estimate increased 0.4%, following a fall of 0.9% in the previous quarter. In volume terms, the trend estimate for inventories increased 1.3% this quarter. The seasonally adjusted estimate increased 5.5% this quarter.

Graph: Mining - Inventories and Sales



MANUFACTURING

In current price terms, the trend estimate for company gross operating profits increased 3.5% this quarter. The seasonally adjusted estimate increased 1.4% this quarter, following a strong increase of 6.0% in the previous quarter. In current price terms, the trend estimate for wages and salaries increased 1.3% this quarter. The seasonally adjusted estimate increased 1.8%, the growth rate increasing from the 1.0% rise in the previous quarter.

Graph: Manufacturing - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 0.9% this quarter. The seasonally adjusted estimate increased 1.8%, the second consecutive increase following three quarters of falls. In volume terms, the trend estimate for inventories decreased 0.7% this quarter. The seasonally adjusted estimate increased 0.4%, the first increase following four consecutive quarters of falls.

Graph: Manufacturing - Inventories and Sales



CONSTRUCTION

In current prices, the trend estimate for company gross operating profits increased 1.6% this quarter. The seasonally adjusted estimate increased 3.3%, the second consecutive quarterly increase. The trend estimate for wages and salaries increased 2.8% this quarter. The seasonally adjusted estimate increased 5.2%, the growth rate increasing following a 2.2% rise in the previous quarter.

Graph: Construction - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 1.1% this quarter. The seasonally adjusted estimate increased 3.7% this quarter, the first increase following three consecutive quarters of falls.

Graph: Construction - Sales



WHOLESALE TRADE

In current prices, the trend estimate for company gross operating profits increased 3.6% this quarter. The seasonally adjusted estimate increased 5.2%, following an increase of 2.4% in the previous quarter. In current prices, the trend estimate for wages and salaries decreased 0.7% this quarter. The seasonally adjusted estimate decreased for the third consecutive quarter, falling 0.8%.

Graph: Wholesale Trade - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 0.5% this quarter. The seasonally adjusted estimate increased 1.8% following a small fall in the previous quarter. In volume terms, the trend estimate for inventories decreased 1.1% this quarter. The seasonally adjusted estimate decreased 1.0%, the third consecutive fall.

Graph: Wholesale Trade - Inventories and Sales



RETAIL TRADE

In current prices, the trend estimate for company gross operating profits increased 3.4% this quarter. The seasonally adjusted estimate increased 8.0%, following a small fall of 0.4% in the previous quarter. In current price terms, the trend estimate for wages and salaries increased 1.8% this quarter. The seasonally adjusted estimate increased 2.5%, following an increase of 1.9% in the previous quarter.

Graph: Retail Trade - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 1.2% this quarter. The seasonally adjusted estimate increased 2.4%, following an increase of 0.7% in the previous quarter. In volume terms, the trend estimate for inventories decreased 0.2% this quarter. The seasonally adjusted estimate increased by 0.5%, following two consecutive quarters of falls.

Graph: Retail Trade - Inventories and Sales



TRANSPORT AND STORAGE

In current prices, the trend estimate for company gross operating profits increased 4.6% this quarter. The seasonally adjusted estimate increased 3.7%, the growth rate slowing in comparison to the previous two quarters. In current price terms, the trend estimate for wages and salaries increased 2.0% this quarter. The seasonally adjusted estimate increased 2.5%.

Graph: Transport and Storage - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 1.3% this quarter. The seasonally adjusted estimate increased 1.5%, a similar growth rate to the previous two quarters.

Graph: Transport and Storage - Sales



PROPERTY AND BUSINESS SERVICES

In current prices, the trend estimate for company gross operating profits increased 7.5% this quarter. The seasonally adjusted estimate increased 8.9%, following an increase of 4.5% in the previous quarter. In current price terms, the trend estimate for wages and salaries increased 1.9% this quarter. The seasonally adjusted estimate increased 3.4%, the growth rate increasing strongly in comparison to the previous two quarters.

Graph: Property and Business Services - CGOP and Wages


In volume terms, the trend estimate for sales of goods and services increased 1.1% this quarter. The seasonally adjusted estimate increased 2.5% following an increase of 0.4% in the previous quarter.

Graph: Property and Business Services - Sales

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