CHANGES IN THIS ISSUE
CHANGE TO TRAVEL SERVICE PROJECTION METHODOLOGY
From the September quarter 2018 issue of this publication, a new projection methodology has been applied to the Travel Services estimates. This change in projection methodology has resulted in some revisions back to the March quarter 2018 for the Travel credits series and the June quarter 2018 for the Travel debits series.
ANNUAL SEASONAL RE-ANALYSIS
The seasonally adjusted and trend estimates of goods, services, primary income and secondary income have been revised 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, IMPLICIT PRICE DEFLATORS AND TERMS OF TRADE INDEXES
A new base year 2016-17 has been introduced into chain volume estimates, implicit price deflators, chain Laspeyres price and terms of trade indexes. These series have been re-referenced to 2016-17. Additivity has been preserved in the quarters subsequent to the new reference year as well as the annual sum of the quarters in the reference year. Re-referencing affects the levels, but not the movements of chain volume estimates, implicit price deflators and terms of trade indexes.
SELECTED INTERNATIONAL ACCOUNTS RATIOS - TABLE 23
The updated annual GDP and GNI benchmarks released in the Australian System of National Accounts, 2017-18 (cat. no. 5204.0) on 26 October 2018 will be revised and incorporated into the quarterly national accounts with the September quarter 2018 issue of Australian National Accounts: National Income Expenditure and Product (cat. no. 5206.0) to be released on 5 December 2018. The revised benchmarks will change the level of the quarterly and annual GDP and GNI used in the ratios for table 23 of this publication. As the ratios using the currently available GDP and GNI would be inconsistent with the revised data, they have been suppressed in this issue. Table 23 in the time series spreadsheets released in conjunction with this publication will be updated with the release of the quarterly Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) on 5 December 2018.