5676.0 - Business Indicators, Australia, Mar 2012
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2012
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MARCH 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 March quarter 2012 is -$942m which is $732m lower than the December quarter 2011 IVA of -$210m.
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.
Updated information from survey respondents has resulted in revisions to September quarter 2011 and December quarter 2011. These revisions apply to income from sales of goods and services in Manufacturing, Primary metal and metal product manufacturing, and Queensland.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Paul Slater on Sydney (02) 9268 4581.
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