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5302.0 - Balance of Payments and International Investment Position, Australia, June 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/09/2012   
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CHANGES IN THIS AND FORTHCOMING ISSUES


CHANGES IN THIS ISSUE

IMPROVEMENT TO SEASONAL ADJUSTMENT OF CURRENT VALUE

An improvement has been applied to the seasonally adjusted current price series of 'coal, coke and briquettes'. From September quarter 2005, seasonal factors used to construct the corresponding chain volume series have been applied to the current price estimates in original terms to derive the seasonally adjusted series. Trend break corrections previously applied to the trend series of 'coal, coke and briquettes' have been removed. A length-of-quarter adjustment continues to be applied to seasonally adjust the 'coal, coke and briquettes' component prior to September quarter 2005. This component will continue to be closely monitored as part of the ongoing improvement program. A similar treatment will be applied to the corresponding monthly 'coal, coke and briquettes' component in the July 2012 issue of International Trade in Goods and Services, Australia (cat. no. 5368.0) to be released 7 September 2012.


CHANGES IN FORTHCOMING ISSUES

ANNUAL SEASONAL RE-ANALYSIS

The seasonally adjusted and trend estimates of goods and services will be revised in the September quarter 2012 issue as a result of the annual seasonal re-analysis. This re-analysis reviews the seasonal and trading day factors in more detail than is possible in the quarterly processing cycle and assesses the appropriateness of any prior corrections.

NEW BASE YEAR AND RE-REFERENCING OF CHAIN VOLUME ESTIMATES AND IMPLICIT PRICE DEFLATORS

A new base year 2010-11 will be introduced into chain volume estimates and implicit price deflators in the September quarter 2012 issue. As a result, the chain volume estimate series and implicit price deflator series will be re-referenced to 2010-11.


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