5204.0 - Australian System of National Accounts, 2017-18 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 26/10/2018   
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NOTES

REVISIONS IN THIS ISSUE

This issue of the Australian System of National Accounts (cat. no. 5204.0) incorporates the 2016-17 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 within this publication. There are also revisions to 2017-18 estimates arising from the 2016-17 benchmarks, new data and data confrontation to balance the accounts. These revisions are to component series and have revised GDP growth for 2017-18 to 2.8% from the 2.9% published in June quarter 2018.

A quality declaration for the Australian System of National Accounts (cat. no. 5204.0) is available within the Explanatory Notes section. The Explanatory Notes also foreshadow future changes to the accounts.


CHANGES IN THIS ISSUE

This issue includes changes to the presentation of general government final consumption expenditure (GFCE) and gross fixed capital formation (GFCF) which will now be disaggregated by purpose. In the 2016-17 Annual National Accounts released last year, tables 35 and 53 were changed to an experimental by industry disaggregation. This presentation will cease. In this release, these tables will revert to a by purpose presentation. Due to the implementation of the new international GFS standards, Government Purpose Classification (GPC) has been replaced by Classification of the Functions of Government - Australia (COFOG - A), as highlighted in Information Paper: Changes to the 2016-17 release of the Australian System of National Accounts (cat. no. 5204.0.55.012). This includes changes in classifications, additions and removals of items. As a result, there will be changes to the structure (including series IDs) of tables 35 and 53 compared to what was published in the 2015-16 Annual National Accounts.


INQUIRIES

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