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$m445,799-7.0%-6.3%
Gross domestic product GDP, Chain volume measures - annual2019-20$m1,882,312-0.2%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods and Services - seasonally adjustedAugust 2020$m2,643n/an/a
Total Goods and Services Credits - seasonally adjustedAugust 2020$m32,638-4.2%-3.5%
Total Goods and Services Debits - seasonally adjustedAugust 2020$m-29,9962.0%-0.8%
Balance on Current Account - seasonally adjustedJun Qtr 2020$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 adjustedAugust 2020$m29,481.1-4.0%7.1%
Actual New Capital Expenditure in volume terms - seasonally adjustedJun Qtr 2020$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$m79,037-8.6%-5.5%
Dwelling unit approvals - seasonally adjustedAugust 2020no.13691-1.60.6
Building approvals - seasonally adjustedAugust 2020$m10354.418.1-12.4
Total dwelling units commenced - seasonally adjustedJun 2020no.42448-5.6%-8.0%
Building work done - chain volume measures - seasonally adjustedJun 2020$m28,416.7-3.9%-5.3%
Engineering construction work done - chain volume measures - seasonally adjustedJun 2020$m21,712.13.8%2.2%

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) - originalJune 2020 QtrIndex no.111.2-1.2%-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) - originalJun Qtr 2020Index no.134.10.0%1.7%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedSeptember 2020'00012571.9-29.5-358.4
Participation rate - seasonally adjustedSeptember 2020%64.8-0.1 pts-1.3 pts
Unemployment rate - seasonally adjustedSeptember 2020%6.90.1 pts1.7 pts
Employment to Population ratio - seasonally adjustedSeptember 2020%60.3-0.2 pts-2.4 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 (a)(b)August 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 adjustedAugust 2020$b21.2912.6%19.3%
New housing loan commitments to Owner Occupiers - seasonally adjustedAugust 2020$b16.2813.6%29.2%
New housing loan commitments to Investors - seasonally adjustedAugust 2020$b5.019.3%-4.6%
New personal loan commitments for fixed term loans - seasonally adjustedAugust 2020$b1.38-12.5%-17.5%
New business loan commitments for construction - seasonally adjustedAugust 2020$b1.31-42.9%-57.3%
New business loan commitments for the purchase of property - seasonally adjustedAugust 2020$b3.6015.3%-31.3%

NA - not available

NP - not published

. . not applicable or not available

(a) Data revised from July 2004 to December 2013. For information see Overseas arrivals and departures methodology

For unemployment and participation rates, the changes are given as percentage points.

(b) Seasonally adjusted series suspended as at April 2020 due to the impacts of COVID-19.