5676.0 - Business Indicators, Australia, Jun 2019 Quality Declaration
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2019
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June key points
Chain volume estimates
Current prices estimates
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 June quarter 2019 is $2,814m which is $2,182m higher than the March quarter 2019 IVA of $632m.
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.
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