Key economic indicators

Overview of key economic statistics.

All data is seasonally adjusted data unless stated otherwise.

Trend series suspended as at March 2019 due to the impacts of COVID-19.

National Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Gross domestic product GDP, Chain volume measures - seasonally adjustedDec Qtr 2020$m491,5253.1%-1.1%
Gross domestic product GDP, Chain volume measures - annual (a)2019-20$m1,948,283-0.2%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods and Services - seasonally adjustedFebruary 2021$m7529nana
Total Goods and Services Credits - seasonally adjustedFebruary 2021$m38, 926-1.3%-8.1%
Total Goods and Services Debits - seasonally adjustedFebruary 2021$m31,3985.2%-4.1%
Balance on Current Account - seasonally adjustedDecember 2020$m14,523nana
Net International Investment Position (IIP) - originalDecember 2020$m947,2180.26%na
Net Foreign Debt - originalDecember 2020$m1,165,3470.23%na

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedFebruary 2021$m30,300.60.8%9.1%
Actual New Capital Expenditure in volume terms - seasonally adjustedDec qtr 2020$m29 3853.0%-7.5%
Inventories held by Private Businesses, in volume terms - seasonally adjustedDec Qtr 2020$m164,2940.04.6
Total new motor vehicle salesDec 2017no.99,7560.2%2.8%

Production

IndicatorPeriodUnitValueChange previous periodChange same period last year
Income from sales of goods and services by Manufacturers in volume terms - seasonally adjustedDec Qtr 2020$m87,8652.20.8
Dwelling unit approvals - seasonally adjustedFebruary 2021no.1942221.6%20.1%
Building approvals - seasonally adjustedFebruary 2021$m11251.023.3%8.9%
Total dwelling units commenced - seasonally adjustedDec 2020no.5105518.619.4
Building work done - chain volume measures - seasonally adjustedDec 2020$m29,373.90.6-2.2
Engineering construction work done - chain volume measures - seasonally adjustedDec 2020$m21,796.6-2.8-0.3

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalDec 2020 QtrIndex no.117.20.9%0.9%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalDecember 2020 QtrIndex no.112.30.5%-0.1%
Import price index (2011-12 = 100.0) - originalDec Qtr 20Index no.105.9-1.0%-7.3%
Export price index (2011-12 = 100.0) - originalDec Qtr 20Index no.109.15.5%0.3%
Wage Price Index (2008-2009 = 100.0) - originalDec Qtr 2020Index no.135.40.51.4

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedMarch 2021'00013,077.670.774.3
Participation rate - seasonally adjustedMarch 2021%66.30.2 pts0.4 pts
Unemployment rate - seasonally adjustedMarch 2021%5.6-0.2 pts0.4 pts
Employment to Population ratio - seasonally adjustedMarch 2021%62.60.3 pts0.1 pts
Job Vacancies - seasonally adjustedFebruary 2021'000288.713.7%26.8%
Estimated resident population - (preliminary)Sep Qtr 2020'00025693.10.02%0.9%
Short-term overseas visitor arrivals (b)February 2021'000nanana

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedDec Qtr 2020$m109,6986.615.1
Average weekly ordinary time earnings, full-time adultsNovember 2020$1711.60np3.2%

Lending Indicators

IndicatorPeriodUnitValueChange previous periodChange same period last year
New housing loan commitments - seasonally adjustedFebruary 2021$b28.64-0.4%48.8%
New housing loan commitments to Owner Occupiers - seasonally adjustedFebruary 2021$b21.70-1.855.2%
New housing loan commitments to Investors - seasonally adjustedFebruary 2021$b6.944.5%31.6%
New personal loan commitments for fixed term loans - seasonally adjustedFebruary 2021$b1.801.1%1.6%
New business loan commitments for construction - seasonally adjustedFebruary 2021$b2.6182.3%12.1%
New business loan commitments for the purchase of property - seasonally adjustedFebruary 2021$b4.6215.4%-9.5%

NA - not available

NP - not published

. . not applicable or not available

(a) Annualised estimate from the latest available quarterly publication.

(b) Trend series estimates suspended as at February 2020 due to the impacts of COVID-19.