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 adjustedJun Qtr 2020$m445,799-7.0%-6.3%
Gross domestic product GDP, Chain volume measures - annual (a)2019-20$m1,882,312-0.2%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods and Services - seasonally adjustedSeptember 2020$m5,630n/an/a
Total Goods and Services Credits - seasonally adjustedSeptember 2020$m33,7373.9%0.3%
Total Goods and Services Debits - seasonally adjustedSeptember 2020$m-28,108-5.9%3.0%
Balance on Current Account - seasonally adjustedJun Qtr 2020$m17,73896.6%280.4%
Net International Investment Position (IIP) - originalJun Qtr 2020$m910,5907.0%-10.4%
Net Foreign Debt - originalJun Qtr 2020$m1,093,451-6.4%-5.4%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedSeptember 2020$m29,157.5-1.1%5.6%
Actual New Capital Expenditure in volume terms - seasonally adjustedJun Qtr 2020$m26,130-5.9%-11.5%
Inventories held by Private Businesses, in volume terms - seasonally adjustedJun Qtr 2020$m157,921-3.0%-4.7%
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 adjustedJun Qtr 2020$m79,037-8.6%-5.5%
Dwelling unit approvals - seasonally adjustedSeptember 2020no.1582715.48.8
Building approvals - seasonally adjustedSeptember 2020$m8602.7-17.0-10.3
Total dwelling units commenced - seasonally adjustedJun 2020no.42448-5.6%-8.0%
Building work done - chain volume measures - seasonally adjustedSep Qtr 2020$m28971.2-2.0%-7.2%
Engineering construction work done - chain volume measures - seasonally adjustedSep Qtr 2020$m22208.2-3.3%0.1%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalSep 2020 QtrIndex no.116.21.6%0.7%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalSeptember 2020 QtrIndex no.111.70.4%-0.4%
Import price index (2011-12 = 100.0) - originalSep Qtr 2020Index no.107.0-3.5%-5.7%
Export price index (2011-12 = 100.0) - originalSep Qtr 2020Index no.103.4-5.1%-9.9%
Wage Price Index (2008-2009 = 100.0) - originalSep Qtr 2020Index no.134.70.4%1.4%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedOctober 2020'00012,773.9178.8-132.3
Participation rate - seasonally adjustedOctober 2020%65.80.9 pts-0.1 pts
Unemployment rate - seasonally adjustedOctober 2020%7.00.1 pts1.7 pts
Employment to Population ratio - seasonally adjustedOctober 2020%61.20.8 pts-1.3 pts
Job Vacancies - seasonally adjustedAugust 2020'000206.059.4%-8.1%
Estimated resident population - (preliminary)Mar Qtr 2020'00025650.00.41.4
Short-term overseas visitor arrivals (b)September 2020'000nanana

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedJun Qtr 2020$m109,60615.0%11.3%
Average weekly ordinary time earnings, full-time adultsMay 2020$1713.90np4.8%

Lending Indicators

IndicatorPeriodUnitValueChange previous periodChange same period last year
New housing loan commitments - seasonally adjustedSeptember 2020$b22.545.9%25.5%
New housing loan commitments to Owner Occupiers - seasonally adjustedSeptember 2020$b17.266.0%33.8%
New housing loan commitments to Investors - seasonally adjustedSeptember 2020$b5.285.2%4.2%
New personal loan commitments for fixed term loans - seasonally adjustedSeptember 2020$b1.498.5%-10.1%
New business loan commitments for construction - seasonally adjustedSeptember 2020$b2.0657.2%-47.3%
New business loan commitments for the purchase of property - seasonally adjustedSeptember 2020$b3.9610.1%-19.0%

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.