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 adjustedSep Qtr 2020$m476,0433.3%-3.8%
Gross domestic product GDP, Chain volume measures - annual (a)2019-20$m1,947,805-0.2%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods and Services - seasonally adjustedDecember 2020$m6,785nana
Total Goods and Services Credits - seasonally adjustedDecember 2020$m37,26812.9%-0.9%
Total Goods and Services Debits - seasonally adjustedDecember 2020$m30,483-2.4%1.2%
Balance on Current Account - seasonally adjustedSep Qtr 2020$m10,024NANA
Net International Investment Position (IIP) - originalSep Qtr 2020$m942,7760.4%-1.4%
Net Foreign Debt - originalSep Qtr 2020$m1,157,7914.3%1.7%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedDecember 2020$m30,368.8-4.1%9.6%
Actual New Capital Expenditure in volume terms - seasonally adjustedDec qtr 2020$m29 3853.0%-7.5%
Inventories held by Private Businesses, in volume terms - seasonally adjustedSep Qtr 2020$m163,905-0.5%-4.6%
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 adjustedSep Qtr 2020$m86,3044.3%-1.6%
Dwelling unit approvals - seasonally adjustedDecember 2020no.1953710.922.8
Building approvals - seasonally adjustedDecember 2020$m10752.44.93.3
Total dwelling units commenced - seasonally adjustedSep 2020no.42545-0.83.5
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 adjustedJanuary 2021'00012,939.929.1-45.6
Participation rate - seasonally adjustedJanuary 2021%66.1-0.10.1
Unemployment rate - seasonally adjustedJanuary 2021%6.4-0.21.1
Employment to Population ratio - seasonally adjustedJanuary 2021%61.90.1-0.7
Job Vacancies - seasonally adjustedNovember 2020'000254.423.4%12.1%
Estimated resident population - (preliminary)Jun Qtr 2020'00025687.00.1%1.3%
Short-term overseas visitor arrivals (b)December 2020'000nanana

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedSep Qtr 2020$m117,3943.2%18.6%
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 adjustedDecember 2020$b26.018.6%31.2%
New housing loan commitments to Owner Occupiers - seasonally adjustedDecember 2020$b19.948.7%38.9%
New housing loan commitments to Investors - seasonally adjustedDecember 2020$b6.078.2%10.9%
New personal loan commitments for fixed term loans - seasonally adjustedDecember 2020$b1.75-0.5%0.1%
New business loan commitments for construction - seasonally adjustedDecember 2020$b2.13109.9%-28.9%
New business loan commitments for the purchase of property - seasonally adjustedDecember 2020$b5.3938.4%3.2%

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.