1 This release contains a data cube which provides estimates of multifactor productivity (MFP) for individual industries in the Australian economy. The methodology for constructing the data is outlined in Chapter 19 of the Australian System of National Accounts: Concepts, Sources and Methods (cat. no. 5216.0). The ABS publishes industry level MFP estimates on an annual basis.
2 The data cube includes measures of input, output and MFP at the industry level from 1989-90 onwards for 12 industries, with the remaining market sector industries commencing in 1994-95. It goes beneath the aggregate economy to measure the productivity of individual industries. The 16 industries included in the data cube are as follows:
|A||Agriculture, Forestry and Fishing|
|D||Electricity, Gas, Water and Waste Services|
|H||Accommodation and Food Services|
|I||Transport, Postal and Warehousing|
|J||Information, Media and Telecommunications|
|K||Financial and Insurance Services|
|L||Rental, Hiring and Real Estate Services|
|M||Professional, Scientific and Technical Services|
|N||Administrative and Support Services|
|R||Arts and Recreation Services|
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 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.
This release also contains a supplementary data cube that provides experimental estimates of industry contributions to market sector labour productivity and of mining multifactor productivity which accounts for changes in mineral and energy resources inputs. For further information refer to Feature Article: Experimental productivity growth accounts
LIST OF TABLES
SUPPLEMENTARY DATA CUBE - EXPERIMENTAL TABLES
|1||Gross value added based multifactor productivity indexes|
|2||Productivity measures – Market sector industries aggregate|
|3||Productivity growth cycles – Market sector industries aggregate|
|4||Productivity measures – Selected industries aggregate|
|5||Productivity growth cycles – Selected industries aggregate|
|6||Labour productivity indexes|
|7||Capital productivity indexes|
|8||Gross value added chain volume indexes|
|9||Labour input indexes|
|10||Capital services indexes|
|11||Combined inputs capital and labour indexes|
|12||Productive capital stock chain volume measures – Incorporated and unincorporated|
|13||Capital rental price – Incorporated and unincorporated|
|14||Income shares for value added based estimates of MFP|
|15||Gross output based MFP indexes|
|16||Gross output indexes|
|17||Combined inputs (labour, capital and intermediate inputs) indexes|
|18||Intermediate inputs indexes|
|19||Cost shares for gross output based estimates of MFP|
CHANGES IN THIS DATA CUBE
|20||Labour productivity, growth accounting - Market sector |
|21||Labour productivity, contribution to market sector growth - by industry, gross output basis |
|22||Labour productivity, contribution to market sector growth - by industry, value added basis|
|23||Labour productivity, contribution of direct effect to aggregate market sector|
|24||Mining MFP that includes mineral and energy resources |
This data cube also incorporates the updates to the 2014-15 edition of the Australian System of National Accounts
(cat. no. 5204.0). It includes revisions to industry chain volume value added, certain types of capital, and income, due to both updated source data and improved compilation methods, for the period between 2011-12 and 2013-14.
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).
|RELIABILITY AND FUTURE REVISIONS|
7 Productivity estimates are prepared from a wide range of statistical sources some of which are available quickly and some only with a delay of several years. Most of the basic data are derived from the regular program of statistical surveys undertaken by the ABS or as a by-product of government administrative processes. The frequency, detail and timeliness of these data sources are constrained by many factors, including the other statistical purposes, which they must serve. Any increase in timeliness of data is usually at the expense of detail, reliability or additional resources. Therefore, productivity estimates in the recent years are particularly sensitive to revisions as improved data become available.
8 Revisions arise from the progressive incorporation of more up to date data, re-weighting of chain volume series and from time-to-time the introduction of new economic concepts, data analysis and improved data sources and methods. Revisions are an inevitable consequence of the compilation process, reflecting both the complexity of economic measurement and the need to provide economic policy advisers and other users with initial estimates that are timely in order to maximise their use in analysis of current economic conditions.
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