5676.0 - Business Indicators, Australia, Dec 2010
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/02/2011
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DECEMBER KEY FIGURES
DECEMBER KEY POINTS
CHAIN VOLUME ESTIMATES
CURRENT PRICE ESTIMATES
IMPACT OF THE FLOODS
Heavy rain and flooding occurred in Queensland in December 2010. This publication presents the first significant economic impact of this and floods in other states on the Quarterly Business Indicators Survey.
Data collection activities for December quarter 2010, particularly in Queensland, were affected by the floods, however, this has not affected the data quality or reliability of the Australian series. The estimates for Queensland, particularly in the mining industry, have been impacted by lower than usual response rates to the survey and therefore should be used with caution.
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 December quarter 2010 is (-$972m) which is $2,409m lower than the September quarter 2010 IVA of $1,437m.
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.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Didier Rivet on Sydney (02) 9268 4900.
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