Business Indicators, Australia

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Quarterly estimates of private sector sales, wages, profits and inventories

Reference period
December 2022
Released
27/02/2023

Key statistics

Current price estimates for the December quarter 2022:

  • Company gross operating profits rose 10.6% seasonally adjusted 
  • Wages and salaries rose 2.6% seasonally adjusted 

Chain volume estimates for the December quarter 2022:

  • Inventories fell 0.2% seasonally adjusted

Key data items

 Sep Qtr 22 to Dec Qtr 22Dec Qtr 21 to Dec Qtr 22
%%
Sales of goods and services (Chain volume measures)  
 Manufacturing  
  Trend

na

na

  Seasonally Adjusted

-1.4

-3.2

 Wholesale trade  
  Trend

na

na

  Seasonally Adjusted

-1.1

2.0

Inventories (Chain volume measures)  
 Trend

na

na

 Seasonally Adjusted

-0.2

5.9

Company gross operating profits  
 Trend

na

na

 Seasonally Adjusted

10.6

16.0

Wages and salaries  
 Seasonally Adjusted

2.6

11.6

*na - not available. Trend estimates have been suspended due to the impacts of COVID-19.

 

Inventories

Trend estimates have been suspended

 

Company gross operating profits

Trend estimates have been suspended

Notes on release

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 2022 is $2,495m which is $5,378m higher than the September quarter 2022 IVA of -$2,883m.

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.

Suspension of trend series

The trend series attempts to measure underlying behaviour in business activity. In the short term, this measurement will be significantly affected by changes to regular patterns in spending due to the Coronavirus pandemic. If the trend estimates in this publication were to be calculated without fully accounting for this irregular event, they would likely provide a misleading view of underlying business activity.

It may be some time before the underlying trend in business activity can be accurately estimated. The Business Indicators trend series have therefore been suspended and will be reinstated when more certainty emerges in the underlying trend in business activity.

Analysis by industry

​​​​​​​Featured series

The following graphs and commentary refer to seasonally adjusted estimates for sales of goods and services and inventories in volume terms, and wages and salaries and company gross operating profits in current price terms. Trend estimates have been suspended from June quarter 2019 onwards for all series due to the impacts of coronavirus (COVID-19).

Total all industries

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 10.6% 
  • Wages and salaries rose 2.6%

Inventories

(a) Total inventories limited to: Accommodation and food services; Electricity, gas, water and waste services; Manufacturing; Mining; Retail trade; Wholesale trade

In chain volume measures, seasonally adjusted: 

  • Inventories fell 0.2%

Mining

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted: 

  • Company gross operating profits rose 11.6%
  • Wages and salaries rose 2.7%

 

Sales of goods and services | Inventories

In chain volume measures, seasonally adjusted: 

  • Sales of goods and services rose 2.6%
  • Inventories fell 1.6%

Manufacturing

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 12.6%
  • Wages and salaries remained relatively unchanged this quarter

 

Sales of goods and services | Inventories

In chain volume measures, seasonally adjusted:

  • Sales of goods and services fell 1.4%
  • Inventories rose 0.6% 

Electricity, gas, water and waste services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 8.5%
  • Wages and salaries rose 3.7% 

 

Sales of goods and services | Inventories

In chain volume measures, seasonally adjusted:

  • Sales of goods and services fell 0.5%
  • Inventories rose 5.8%

 

Construction

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 3.6%
  • Wages and salaries rose 4.4%

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 0.6%

Wholesale trade

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 12.2%
  • Wages and salaries rose 1.6%

 

 

Sales of goods and services | Inventories

In chain volume measures, seasonally adjusted:

  • Sales of goods and services fell 1.1%
  • Inventories rose 1.4%

Retail trade

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 6.5%
  • Wages and salaries rose 3.3% 

 

Sales of goods and services | Inventories

In chain volume measures, seasonally adjusted:

  • Sales of goods and services fell 0.3%
  • Inventories fell 3.4%

Accommodation and food services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 19.8%
  • Wages and salaries rose 7.7%

 

Sales of goods and services | Inventories

In chain volume measures, seasonally adjusted: 

  • Sales of goods and services rose 1.5%
  • Inventories fell 2.2% 

Transport, postal and warehousing

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 8.5%
  • Wages and salaries rose 6.3% 

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services fell 0.7%

Information media and telecommunications

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 5.6%
  • Wages and salaries fell 1.1%

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 2.4%

Financial and insurance services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 22.0%
  • Wages and salaries rose 4.3%

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 0.6%

Rental, hiring and real estate services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits fell 8.7%
  • Wages and salaries rose 0.4%

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 1.0%

Professional, scientific and technical services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 19.4%
  • Wages and salaries rose 1.2% 

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services fell 1.6%

Administrative and support services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 21.8%
  • Wages and salaries rose 3.3%

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 2.4%

Education and training

Wages and salaries

In current prices, seasonally adjusted:

  • Wages and salaries fell 0.8%

Health care and social assistance

Wages and salaries

In current prices, seasonally adjusted:

  • Wages and salaries rose 2.2%

Arts and recreation services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 23.8%
  • Wages and salaries rose 7.4%

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 3.2%

Other services

Company gross operating profits | Wages and salaries

In current prices, seasonally adjusted:

  • Company gross operating profits rose 37.1%
  • Wages and salaries fell 0.6% 

 

Sales of goods and services

In chain volume measures, seasonally adjusted:

  • Sales of goods and services rose 3.9%

Data downloads

Time series spreadsheets

Data files

Data Explorer datasets

Caution: Data in Data Explorer is currently released after the 11:30am release on the ABS website. Please check the reference period when using Data Explorer.

Business Indicators  - Quarterly estimates of private sector sales, wages, profits and inventories

Previous catalogue number

This release previously used catalogue number 5676.0.

Post release changes

07/03/2023: Table 28 - Manufacturing subdivision, company profits before income tax, current prices and Table 29 - Manufacturing subdivision, company gross operating profits, current prices, were not released on Monday 27 February due to an error in the compilation of the spreadsheets that has now been resolved. These tables are now available under the Data Downloads section. 

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