5676.0 - Business Indicators, Australia, Mar 2018 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2018   
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MARCH KEY FIGURES

Dec Qtr 17 to Mar Qtr 18
Mar Qtr 17 to Mar Qtr 18
%
%

Sales of goods and services (Chain volume measures)
Manufacturing
Trend
0.8
3.7
Seasonally Adjusted
1.6
4.9
Wholesale trade
Trend
0.2
-0.2
Seasonally Adjusted
1.0
-0.1
Inventories (Chain volume measures)
Trend
0.1
0.2
Seasonally Adjusted
0.7
0.6
Company gross operating profits
Trend
3.6
6.5
Seasonally Adjusted
5.9
5.8
Wages and salaries
Seasonally Adjusted
0.8
5.1

Inventories (volume terms), Trend estimates
Graph: Inventories (volume terms), Trend estimates

Company gross operating profits, Trend estimates
Graph: Company gross operating profits, Trend estimates



MARCH KEY POINTS


CHAIN VOLUME ESTIMATES
  • The trend estimate for inventories rose 0.1% in the March quarter 2018. The seasonally adjusted estimate rose 0.7% this quarter.
  • The trend estimate for Manufacturing sales of goods and services rose 0.8% this quarter. The seasonally adjusted estimate rose 1.6% this quarter.
  • The trend estimate for Wholesale trade sales of goods and services rose 0.2% this quarter. The seasonally adjusted estimate rose 1.0%.


CURRENT PRICE ESTIMATES
  • The seasonally adjusted estimate for company gross operating profits rose 5.9% in the March quarter 2018.
  • The seasonally adjusted estimate for wages and salaries rose 0.8% in the March quarter 2018.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2018 3 September 2018
September 2018 3 December 2018
December 2018 4 March 2019
March 2019 3 June 2019


COMPARISON BETWEEN COMPANY GROSS OPERATING PROFITS AND GROSS OPERATING SURPLUS

Valuation 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. The IVA for the March quarter 2018 is $1,988m which is $442m lower than the December quarter 2017 IVA of $2,430m.

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 CGOP and GOS. It should 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, the two series will not have equivalent seasonally adjusted movements from quarter to quarter.


INQUIRIES

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