Key economic indicators

Overview of key economic statistics.

All data is seasonally adjusted data unless stated otherwise.

Trend series suspended as at March 2019 due to the impacts of COVID-19.

National Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Gross domestic product GDP, Chain volume measures - seasonally adjustedJun Qtr 2024$m612,1800.2%1.0%
Gross domestic product GDP, Chain volume measures - annual (a)2023-24$2,440,9471.5%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods - seasonally adjustedJuly 2024$m6,009nana
Total Goods Credits - seasonally adjustedJuly 2024$m43,8030.7%-1.4%
Total Goods Debits - seasonally adjustedJuly 2024$m-37,794-0.8%3.0
Balance on Current Account - seasonally adjustedJun Qtr 2024$m-10,725nana
Net International Investment Position (IIP) - originalJun Qtr 2024$m719,994-2.9%-15.4%
Net Foreign Debt - originalJun Qtr 2024$m1,266,5281.1%6.5%
Goods and Services credits, Chain volume measures - seasonally adjustedJun Qtr 2024$m164,5220.50.1
Goods and Services debits, Chain volume measures - seasonally adjustedJun Qtr 2024$m-139,064-0.25.2

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedJuly 2024$m36,160.10.0%2.3%
Actual New Capital Expenditure in volume terms - seasonally adjustedJun qtr 2024$m$39,834-2.2%0.3%
Inventories held by Private Businesses, in volume terms - seasonally adjustedJun qtr 2024$m209,6780.1%1.5%
Total new motor vehicle salesDec 2017no.99,7560.2%2.8%

Production

IndicatorPeriodUnitValueChange previous periodChange same period last year
Income from sales of goods and services by Manufacturers in volume terms - seasonally adjustedJun qtr 2024$m101,3380.3%0.7%
Dwelling unit approvals - seasonally adjustedJuly 2024no.14,79710.4%14.3%
Building approvals - seasonally adjustedJuly 2024$m13,1806.8%-4.9%
Total dwelling units commenced - seasonally adjustedMar qtr 2024no.39,7150.5%-13.5%
Building work done - chain volume measures - seasonally adjustedJun qtr 2024$m33,815.0-0.3%-1.8%
Engineering construction work done - chain volume measures - seasonally adjustedJun qtr 2024$m31,117.10.5%4.8%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalJun 2024 QtrIndex no.138.81.0%3.8%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalJun Qtr 2024Index. no.130.71.04.8
Import price index (2011-12 = 100.0) - originalJun Qtr 2024Index no.133.01.0%1.1%
Export price index (2011-12 = 100.0) - originalJun Qtr 2024Index no.159.5-5.9%-5.7%
Wage Price Index (2008-2009 = 100.0) - originalJun Qtr 2024Index no.151.10.6%4.1%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedJuly 2024'00014469.658.2455.4
Participation rate - seasonally adjustedJuly 2024%67.10.2 pts0.6 pts
Unemployment rate - seasonally adjustedJuly 2024%4.20.1 pts0.5 pts
Employment to Population ratio - seasonally adjustedJuly 2024%64.30.1 pts0.2 pts
Job Vacancies - seasonally adjustedMay 2024'000352.6-2.7%-17.7%
Estimated resident population - (preliminary)Dec qtr 2023'00026,966.80.482.5
Short-term overseas visitor arrivals - original (b)July 2024no.658,97071,21033,850

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedJun qtr 2024$m129,633-5.3%-3.9%
Average weekly ordinary time earnings, full-time adultsMay 2024$1,923.40np4.6%

NA - not available

NP - not published

. . not applicable or not available

(a) Annualised estimate from the latest available quarterly publication.

(b) Trend series estimates suspended as at February 2020 due to the impacts of COVID-19. Original series now provided.

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