Changes to key economic indicators, such as gross domestic product (GDP), are relatively small as a consequence of historical revisions in 2023. The largest changes are to the household final consumption expenditure (HFCE) current price Rent series, resulting from the incorporation of Census data.
The suite of 2023 historical revisions will appear in the following economic releases:
Australian System of National Accounts, 2022-23 - 27 October 2023
Australian National Accounts: State Accounts - 21 November 2023
Estimates of Industry Multifactor Productivity, 2022-23 financial year – 13 December 2023
Updates to the HFCE rent series in the National Accounts will flow through to the Consumer Price Index (CPI) and the Selected Living Cost Indexes (SLCIs) via the annual re-weighting process. The updated weights will be implemented in the monthly CPI indicator in January 2024 and will apply from the March quarter 2024 for the quarterly CPI and SLCIs.