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 2023$m609,7500.2%1.5%
Gross domestic product GDP, Chain volume measures - annual (a)2022-23$m2,406,5213.1%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods - seasonally adjustedMarch 2024$m5,024nana
Total Goods Credits - seasonally adjustedMarch 2024$m44,9110.1%-11.4%
Total Goods Debits - seasonally adjustedMarch 2024$m-39,8874.2%12.3%
Balance on Current Account - seasonally adjustedDec Qtr 2023$m11,800nana
Net International Investment Position (IIP) - originalDec Qtr 2023$m836,6353.1%-11.4%
Net Foreign Debt - originalDec Qtr 2023$m1,206,2603.3%1.7%
Goods and Services credits, Chain volume measures - seasonally adjustedDec Qtr 2023$m163,946-0.3%4.2%
Goods and Services debits, Chain volume measures - seasonally adjustedDec Qtr 2023$m-126,137-3.4%3.5%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedApril 2024$m35,713.90.1%1.3%
Actual New Capital Expenditure in volume terms - seasonally adjustedDec qtr$m$40,061 million0.8%7.9%
Inventories held by Private Businesses, in volume terms - seasonally adjustedDec qtr 2023$m205,650-1.7%-0.6%
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 2023$m101,8040.6%1.5%
Dwelling unit approvals - seasonally adjustedMarch 2024no.12,9471.9%-2.2%
Building approvals - seasonally adjustedMarch 2024$m12,708.715.9%2.5%
Total dwelling units commenced - seasonally adjustedDec qtr 2023no.38,3971.3%-6.4%
Building work done - chain volume measures - seasonally adjustedMar qtr 2024$m33,315.1-3.7%-2.0%
Engineering construction work done - chain volume measures - seasonally adjustedMar qtr 2024$m30,717.4-2.1%6.2%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalMar 2024 QtrIndex no.137.41.0%3.6%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalMar Qtr 2024Index no.129.40.94.3
Import price index (2011-12 = 100.0) - originalMar Qtr 2024Index no.131.7-1.8%-0.7%
Export price index (2011-12 = 100.0) - originalMar Qtr 2024Index no.169.5-2.1%-8.3%
Wage Price Index (2008-2009 = 100.0) - originalMar Qtr 2024Index no.150.20.6%4.1%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedApril 2024'00014,300.038.5394.3
Participation rate - seasonally adjustedApril 2024%66.70.1 pts0.2 pts
Unemployment rate - seasonally adjustedApril 2024%4.10.2 pts0.4 pts
Employment to Population ratio - seasonally adjustedApril 2024%64.00.0 pts0.0 pts
Job Vacancies - seasonally adjustedFebruary 2024'000363.8-6.1%-17.7%
Estimated resident population - (preliminary)Sep qtr 2023'00026,821.60.652.5
Short-term overseas visitor arrivals - original (b)March 2024no.761,050-96,000147,710

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedDec qtr 2023$m140,9637.4%-5.4%
Average weekly ordinary time earnings, full-time adultsNovember 2023$1888.80np4.5%

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. Original series now provided.

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