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 2024$m654,9120.3%0.8%
Gross domestic product GDP, Chain volume measures - annual (a)2023-24$m2,604,2151.4%na

International Accounts

IndicatorPeriodUnitValueChange previous periodChange same period last year
Balance on Goods - seasonally adjustedOctober 2024$m5,953nana
Total Goods Credits - seasonally adjustedOctober 2024$m42,1483.6%-9.2%
Total Goods Debits - seasonally adjustedOctober 2024$m-36,1950.1%-3.1%
Balance on Current Account - seasonally adjustedSep Qtr 2024$m-14,149nana
Net International Investment Position (IIP) - originalSep Qtr 2024$m716,5473.0%-10.3%
Net Foreign Debt - originalSep Qtr 2024$m1,302,8844.5%11.3%
Goods and Services credits, Chain volume measures - seasonally adjustedSep Qtr 2024$m178,8030.2%-1.1%
Goods and Services debits, Chain volume measures - seasonally adjustedSep Qtr 2024$m-156,210-0.3%-2.7%

Consumption and investment

IndicatorPeriodUnitValueChange previous periodChange same period last year
Retail turnover at current prices - seasonally adjustedOctober 2024$m36,702.70.6%3.4%
Actual New Capital Expenditure in volume terms - seasonally adjustedSep qtr 2024$m$43,838 million1.1%1.0%
Inventories held by Private Businesses, in volume terms - seasonally adjustedSep qtr 2024$m228,025-0.9%0.1%
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 2024$m109,193-0.8%-0.4%
Dwelling unit approvals - seasonally adjustedOctober 2024no.15,4984.2%6.1%
Building approvals - seasonally adjustedOctober 2024$m13,213.5-3.7%-4.5%
Total dwelling units commenced - seasonally adjustedJun qtr 2024no.40,293-1.1%-3.6%
Building work done - chain volume measures - seasonally adjustedSep qtr 2024$m38,638.00.7%0.8%
Engineering construction work done - chain volume measures - seasonally adjustedSep qtr 2024$m34,706.92.6%6.0%

Prices

IndicatorPeriodUnitValueChange previous periodChange same period last year
Consumer price index (2011-12 = 100.0) - originalSep 2024 QtrIndex no.139.10.2%2.8%
Producer Price Indexes, Final Demand (2011-12 = 100.0) - originalSept Qtr 2024Index no.132.01.0%3.9%
Import price index (2011-12 = 100.0) - originalSep Qtr 2024Index no.131.2-1.4%-1.1%
Export price index (2011-12 = 100.0) - originalSep Qtr 2024Index no.152.7-4.3%-6.8%
Wage Price Index (2008-2009 = 100.0) - originalSep Qtr 2024Index no.153.11.3%3.5%

Labour force and demography

IndicatorPeriodUnitValueChange previous periodChange same period last year
Employed persons - seasonally adjustedOctober 2024'00014,537.515.9387.1
Participation rate - seasonally adjustedOctober 2024%67.10.0 pts0.3 pts
Unemployment rate - seasonally adjustedOctober 2024%4.10.0 pts0.3 pts
Employment to Population ratio - seasonally adjustedOctober 2024%64.4-0.1 pts0.1 pts
Job Vacancies - seasonally adjustedAugust 2024'000329.9-5.2%-17.1%
Estimated resident population - (preliminary)Mar qtr 2024'00027,122.40.612.3
Short-term overseas visitor arrivals - original (b)September 2024'000630.7-4.3%7.9%

Incomes

IndicatorPeriodUnitValueChange previous periodChange same period last year
Company gross operating profits (in current price terms) - seasonally adjustedSep qtr 2024$m121,855-4.6-8.5
Average weekly ordinary time earnings, full-time adultsMay 2024$1,923.40np4.6%

Lending Indicators

IndicatorPeriodUnitValueChange previous periodChange same period last year
New housing loan commitments - seasonally adjustedSeptember 2024$b30.21-0.3%18.9%
New housing loan commitments to Owner Occupiers - seasonally adjustedSeptember 2024$b18.640.1%13.1%
New housing loan commitments to Investors - seasonally adjustedSeptember 2024$b11.57-1.0%29.5%
New personal loan commitments for fixed term loans - seasonally adjustedSeptember 2024$b2.812.1%16.1%
New business loan commitments for construction - seasonally adjustedSeptember 2024$b2.98-8.2%28.3%
New business loan commitments for the purchase of property - seasonally adjustedSeptember 2024$b7.082.9%20.8%

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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