Australian Bureau of Statistics
5260.0.55.002 - Estimates of Industry Multifactor Productivity, 2011-12
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 07/12/2012
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3. To assist data users to link these industry level estimates to aggregate measures in the Australian System of National Accounts (cat. no. 5204.0), this data cube also includes aggregate MFP measures for the market sector definition (see above, ANZSIC06 Divisions A to N and Divisions R and S) dating back to 1994–95. Also included is a 12 selected industry grouping (Divisions A to K and R), which is useful for analysing productivity performance from the perspective of a longer time series.
CHANGES IN THIS DATA CUBE
4. This data cube incorporates improvements in the estimation of labour composition. For the first time, compositional data with an industry dimension has been used. Thus the data cube incorporates industry estimates of value added MFP, gross output MFP, combined inputs, and labour inputs on a quality adjusted hours worked basis. Furthermore, the estimates of labour composition for the aggregates have been improved. Previously, an estimate based on data for the whole economy (which included data on non–market sector workers) was used for both aggregates. By using compositional data with an industry dimension, the new estimates are based only on data for workers in the relevant industries. Accordingly, there are revisions to aggregate MFP growth on a quality adjusted hours worked basis. All labour composition estimates are based on census data from the censuses between 1981 and 2011 (inclusive). Labour composition for non–census years is interpolated (for inter–census years) or extrapolated (for post–census years).
5. This data cube also incorporates the updates to the Australian System of National Accounts (cat. no. 5204.0). Growth in industry chain volume value added has been revised since 2008–09, due to both updated source data and improved compilation methods. These revisions have resulted in less volatile movements for the MFP aggregates in recent years. Aggregate MFP growth has been positive in two of the last three years.
6. The industry capital services indices reflect revisions to the composition of machinery and equipment GFCF back to 2008–09. The new composition reflects updated information from Australian Industry (cat. no. 8155.0) and the Private New Capital Expenditure Survey (cat. no. 5626.0). These revisions are mostly offsetting so revisions to the aggregate capital services indices are small.
7. The growth rates presented in the growth accounts are now expressed as natural logarithms x 100. This presentation is consistent with the way MFP is estimated (using the Translog production function) allowing the growth accounts to be additive. Previously, the growth accounts had been expressed as percentage changes (ie exponentiated logs) which are not strictly additive.
8. For a more detailed discussion about updates to the Australian System of National Accounts data, please refer to the Analysis of results section of the Australian System of National Accounts (cat. no. 5204.0),
LIST OF TABLES
More information available from the ABS website.
9. For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Derek Burnell on Canberra (02) 6252 6427.
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This page last updated 7 December 2012