CHANGES IN THIS ISSUE
THE IMPACT OF CYCLONE VERONICA
The impact of Cyclone Veronica on the export quantities of iron ore in March 2019 has resulted in an adjustment being applied on a balance of payments basis to the 'metal ores and minerals' component in order to stabilise the trend estimate for goods credits. The ABS will continue to monitor this series.
This adjustment will prevent trend estimates from being biased by this unusual original estimate and help stabilise seasonal factor estimates. Details of this approach can be found in the feature article When it's not "Business-as-usual": Implications for ABS Time Series in Australian Economic Indicators, August 2009 (cat. no. 1350.0).