5676.0 - Business Indicators, Australia, Jun 2014
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2014
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JUNE KEY POINTS
CHAIN VOLUME ESTIMATES
CURRENT PRICE 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 2014 is -$1,962m which is $3,786m lower than the March quarter 2014 IVA of $1,824m.
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.
CHANGES IN NEXT ISSUE
As happens in September quarter each year, revisions to previously released data will occur as a result of the annual re-analysis of seasonally adjusted data series and the movement forward of the base year for the calculation of chain volume measures.
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