Estimates of Industry Multifactor Productivity

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Updates estimates of industry multifactor productivity (MFP) for industries and market sector aggregates

Reference period

2022-23 financial year

Released

13/12/2023

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Release date and time

13/12/2023 11:30am AEDT

Key statistics

In 2022-23, on an hour worked basis:

The market sector MFP fell 0.5%
Market sector labour productivity fell 2.9%, which was the largest decline in the time series
Eight of sixteen market sector industries experienced a fall in MFP
Largest MFP fall was in Wholesale trade, largest rise was in Information, media and telecommunications

Market sector productivity

On an hour worked basis, market sector MFP fell 0.5% in 2022-23. This is the second fall in the annual market sector MFP since 2011-12.

Market sector gross value added (GVA) rose 3.8%, which is the second largest increase since 2012-13. By comparison, combined labour and capital inputs grew 4.3%, reflecting capital services growth of 1.6% and a 6.9% rise in hours worked. Market sector labour productivity experienced the largest fall in the time series at 2.9%, the result of a much stronger rise in hours worked than in GVA.

On a quality adjusted labour input (QALI) basis, MFP fell 0.8% and labour productivity fell 3.4%. The stronger fall on a QALI basis reflects a positive contribution from changes to the composition of labour due to educational attainment and work experience. Details of the QALI measure are provided in Understanding labour quality and its contribution to productivity measurement.

Market sector, productivity growth - hours worked basis
	Multifactor productivity (%)	Labour productivity (%)
1995-96	1.4	2.0
1996-97	2.4	4.4
1997-98	2.7	4.4
1998-99	2.5	3.7
1999-00	0.2	0.5
2000-01	0.1	1.4
2001-02	3.2	4.8
2002-03	0.1	0.8
2003-04	1.7	3.3
2004-05	-0.9	0.2
2005-06	-0.4	1.4
2006-07	0.0	0.9
2007-08	-0.6	0.6
2008-09	-0.5	1.7
2009-10	1.0	3.1
2010-11	-0.7	0.0
2011-12	1.4	3.6
2012-13	0.4	2.4
2013-14	1.1	2.7
2014-15	1.0	2.1
2015-16	0.8	1.1
2016-17	0.9	1.4
2017-18	0.8	0.4
2018-19	0.1	0.1
2019-20	-0.4	1.2
2020-21	0.9	1.7
2022-23	2.6	2.5
2022-23	-0.5	-2.9

Market sector, productivity growth - hours worked basis

["","Multifactor productivity","Labour productivity"]

[["1995-96","1996-97","1997-98","1998-99","1999-00","2000-01","2001-02","2002-03","2003-04","2004-05","2005-06","2006-07","2007-08","2008-09","2009-10","2010-11","2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2022-23","2022-23"],[[1.35819695],[2.436779767],[2.659766446],[2.493719216],[0.169989146],[0.086289908],[3.194248116],[0.059011993],[1.671588494],[-0.87189923],[-0.408125498],[-0.009459981],[-0.618034933],[-0.462365849],[1.047595629],[-0.71855789],[1.437231156],[0.39962298],[1.141207458],[1.039110637],[0.817665562],[0.879102052],[0.75645956],[0.086893898],[-0.37654216],[0.859753803],[2.557359665],[-0.500934625]],[[1.958721255],[4.382653049],[4.442953505],[3.651698102],[0.5325216],[1.400305384],[4.791196817],[0.804227592],[3.292175511],[0.167947648],[1.387495245],[0.925946295],[0.633829367],[1.667513145],[3.094909062],[0.041516402],[3.590592327],[2.422748123],[2.68092974],[2.145399535],[1.076019561],[1.408376995],[0.444496147],[0.102214059],[1.228026088],[1.738032279],[2.456471825],[-2.860314517]]]

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Growth for market sector (%), 2022-23
	Hours worked basis	Quality adjusted hours worked basis
Multifactor Productivity	-0,5	-0.8
Gross Value Added	3.8	3.8
Labour Input	6.9	7.5
Capital Input	1.6	1.6
Labour Productivity	-2.9	-3.4

Estimates of industry productivity, 2022-23

In 2022-23, eight market sector industries reported a fall in MFP. The largest MFP declines were in Wholesale trade (7.4%), followed by Arts and recreation services (6.7%). MFP in Rental hiring and real estate services also fell strongly (3.9%) against the backdrop of increases in interest rate. The largest MFP rise was in Information, media and telecommunications (4.2%).

MFP growth (a) in 2022-23, hours worked basis
	MFP growth (%)
Agriculture, forestry and fishing	3.7
Mining	-0.5
Manufacturing	-1.3
Electricity, gas, water and waste services	-4.4
Construction	-0.8
Wholesale trade	-7.4
Retail trade	-1.4
Accommodation and food services	2.2
Transport, postal and warehousing	3.2
Information, media and telecommunications	4.2
Financial and insurance services	0.3
Rental, hiring and real estate services	-3.9
Professional, scientific and technical services	2.1
Administrative and support services	0.4
Arts and recreation services	-6.7
Other services	0.7

MFP growth (a) in 2022-23, hours worked basis

["","MFP growth"]

[["Agriculture, forestry and fishing ","Mining","Manufacturing","Electricity, gas, water and waste services ","Construction","Wholesale trade","Retail trade","Accommodation and food services","Transport, postal and warehousing ","Information, media and telecommunications ","Financial and insurance services","Rental, hiring and real estate services","Professional, scientific and technical services","Administrative and support services","Arts and recreation services","Other services"],[[3.655580929],[-0.548866978],[-1.337219326],[-4.355613873],[-0.78926967],[-7.441723781],[-1.399866217],[2.240257879],[3.237995918],[4.231693379],[0.321358548],[-3.943697484],[2.120906906],[0.438573989],[-6.65062659],[0.690870374]]]

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Natural log growth * 100

Wholesale trade records the largest MFP fall driven by strength in hours worked

MFP fell 7.4% in 2022-23, representing the strongest MFP decline among market sector industries. The large fall in MFP reflects:

A strong growth in combined inputs (9.9%) that outpaced GVA growth (2.5%), mainly driven by a strong rise in hours worked (14.6%).
The strength in hours worked was driven by a strong rise in full-time employment, coinciding with an expected increase in the demand for machinery and equipment from new mining facilities, and the ongoing post-COVID rebound in the demand for transport.
The GVA growth was driven by strong wheat export and increased domestic demand for motor vehicles and parts as supply chain issues eased, partly offset by a fall in the demand for RAT COVID-19 tests after the abolition of COVID-19 restrictions.

Contributions to GVA growth (a) – Wholesale trade
	GVA	MFP	Combined input
1995-96	6.3	2.6	3.7
1996-97	5.2	4.4	0.8
1997-98	6.8	1.3	5.4
1998-99	3.5	-2.3	5.7
1999-00	5.4	1.2	4.2
2000-01	-0.1	3.1	-3.2
2001-02	2.9	3.2	-0.3
2002-03	4.6	4.2	0.4
2003-04	4.9	4.4	0.5
2004-05	3.4	0.1	3.3
2005-06	3.3	0.1	3.2
2006-07	2.2	-3.2	5.3
2007-08	3.2	-2.6	5.8
2008-09	1.1	1.1	0.0
2009-10	2.9	3.2	-0.4
2010-11	-0.4	-3.7	3.4
2011-12	5.8	4.0	1.8
2012-13	4.0	4.2	-0.2
2013-14	-1.5	-0.2	-1.3
2014-15	3.1	1.4	1.7
2015-16	3.4	5.7	-2.3
2016-17	5.4	2.1	3.3
2017-18	1.0	1.6	-0.6
2018-19	1.0	-0.9	1.9
2019-20	-1.0	-0.4	-0.6
2020-21	4.4	2.0	2.3
2021-22	1.0	1.9	-0.9
2022-23	2.5	-7.4	9.9

Contributions to GVA growth (a) – Wholesale trade

["","GVA","MFP","Combined input"]

[["1995-96","1996-97","1997-98","1998-99","1999-00","2000-01","2001-02","2002-03","2003-04","2004-05","2005-06","2006-07","2007-08","2008-09","2009-10","2010-11","2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23"],[[6.261233721],[5.231960307],[6.77531822],[3.457950478],[5.372511538],[-0.064387735],[2.876838073],[4.578953502],[4.927691987],[3.351760422],[3.277319321],[2.16417751],[3.243327084],[1.110253655],[2.878724173],[-0.379415649],[5.751789278],[4.006190287],[-1.530660367],[3.147022022],[3.442402175],[5.378424856],[0.979832931],[1.012898396],[-0.978537906],[4.376456432],[1.027226162],[2.459379354]],[[2.57557098],[4.438157827],[1.328134088],[-2.268351467],[1.154858603],[3.119894602],[3.171956068],[4.181223613],[4.430484452],[0.060541401],[0.080419077],[-3.163948724],[-2.606088616],[1.070924999],[3.236959767],[-3.73602743],[3.973410865],[4.240115934],[-0.237328395],[1.406800017],[5.722358089],[2.12269259],[1.55359632],[-0.875497794],[-0.409004509],[2.034846891],[1.915592679],[-7.441723781]],[[3.685662741],[0.79380248],[5.447184132],[5.726301945],[4.217652935],[-3.184282336],[-0.295117995],[0.39772989],[0.497207535],[3.291219021],[3.196900244],[5.328126234],[5.8494157],[0.039328656],[-0.358235594],[3.356611781],[1.778378414],[-0.233925648],[-1.293331972],[1.740222004],[-2.279955914],[3.255732265],[-0.573763389],[1.88839619],[-0.569533397],[2.341609541],[-0.888366517],[9.901103135]]]

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Natural log growth x 100

Large MFP fall in Arts and recreation services driven by strength in hours worked

MFP fell 6.7%, the second largest MFP fall of all industries in 2022-23. The fall was driven by:

A strong growth in combined inputs (13.9%) that outpaced GVA growth (7.3%), mainly driven by a strong rise in hours worked (18.0%).
The strength in hours worked coincides with the resumption, organisation and management of major sporting and recreation events after the COVID-19 pandemic.
The GVA growth was driven by a rise in ticket sales to sports and recreation events and increased online gambling and sport betting activities after the COVID-19 pandemic.

Contributions to GVA growth (a) – Arts and recreation services
	GVA	MFP	Combined input
1995-96	-0.6	-8.4	7.8
1996-97	2.6	3.4	-0.8
1997-98	5.2	-6.7	11.9
1998-99	5.7	1.3	4.4
1999-00	3.9	2.2	1.7
2000-01	4.6	4.6	0.0
2001-02	0.6	-3.8	4.4
2002-03	4.2	3.6	0.5
2003-04	6.9	6.9	0.0
2004-05	5.3	4.7	0.7
2005-06	1.4	-1.6	2.9
2006-07	7.2	3.7	3.5
2007-08	2.0	-1.6	3.6
2008-09	8.1	5.8	2.3
2009-10	0.6	-2.3	2.9
2010-11	2.6	-2.4	5.1
2011-12	2.5	3.1	-0.6
2012-13	-0.1	-2.7	2.7
2013-14	4.0	2.2	1.9
2014-15	1.5	1.6	-0.1
2015-16	3.7	0.1	3.6
2016-17	1.2	2.7	-1.5
2017-18	2.6	-1.2	3.7
2018-19	5.6	1.4	4.2
2019-20	-9.6	-7.9	-1.7
2020-21	-2.8	1.0	-3.8
2021-22	11.7	9.9	1.8
2022-23	7.3	-6.7	13.9

Contributions to GVA growth (a) – Arts and recreation services

["","GVA","MFP","Combined input"]

[["1995-96","1996-97","1997-98","1998-99","1999-00","2000-01","2001-02","2002-03","2003-04","2004-05","2005-06","2006-07","2007-08","2008-09","2009-10","2010-11","2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23"],[[-0.589066129],[2.60398144],[5.164480923],[5.742820912],[3.90142911],[4.591444483],[0.608989733],[4.172779094],[6.897636293],[5.335147356],[1.366937486],[7.23456776],[2.009865418],[8.059883427],[0.646112195],[2.641125327],[2.464673419],[-0.071548269],[4.044658535],[1.476099983],[3.701740628],[1.190316799],[2.564383373],[5.615264353],[-9.626727168],[-2.810568388],[11.68639626],[7.262595316]],[[-8.368868186],[3.419405955],[-6.699806771],[1.34073718],[2.22892684],[4.565812139],[-3.786787835],[3.635027638],[6.90391857],[4.671608232],[-1.575091333],[3.712648286],[-1.563423582],[5.778717533],[-2.27383736],[-2.436591766],[3.097675228],[-2.737200277],[2.151285944],[1.563570671],[0.149953327],[2.699827771],[-1.160084583],[1.424876083],[-7.899222583],[1.037898079],[9.893834025],[-6.65062659]],[[7.779802058],[-0.815424515],[11.86428769],[4.402083732],[1.672502271],[0.025632343],[4.395777568],[0.537751456],[-0.006282277],[0.663539124],[2.942028819],[3.521919473],[3.573289],[2.281165894],[2.919949555],[5.077717092],[-0.633001809],[2.665652008],[1.893372591],[-0.087470688],[3.551787301],[-1.509510971],[3.724467956],[4.190388269],[-1.727504585],[-3.848466468],[1.792562234],[13.91322191]]]

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Natural log growth x 100

Rental, hiring and real estate services records a large fall in MFP driven by a slowdown in GVA

MFP fell 3.9%, the fourth largest MFP fall of all industries in 2022-23. The fall was driven by:

A significant slowdown in GVA growth (0.5%, compared to 5.7% in 2021-22). Combined inputs remained strong (4.5%) due to continued strength in hours worked (6.0%).
The GVA growth was dragged down by subdued real estate activity amid interest rate hikes and high inflation.
The strength in hours worked coincides with heightened demand for plant, machinery and equipment hire from Mining, Construction and Arts and recreation industries amid wet weather, abolition of COVID-19 restrictions and the recovery in domestic tourism.

Contributions to GVA growth (a) – Rental, hiring and real estate services
	GVA	MFP	Combined input
1995-96	3.6	4.3	-0.8
1996-97	5.4	-3.8	9.2
1997-98	3.9	-1.2	5.1
1998-99	1.1	-4.9	6.0
1999-00	5.2	-2.2	7.4
2000-01	-1.1	-8.0	6.9
2001-02	4.1	2.1	2.0
2002-03	7.0	-1.0	8.0
2003-04	1.3	-9.6	11.0
2004-05	0.3	-7.3	7.7
2005-06	4.7	-2.0	6.7
2006-07	-5.0	-12.6	7.6
2007-08	-3.2	-8.0	4.8
2008-09	5.5	4.2	1.2
2009-10	0.8	-0.6	1.5
2010-11	1.1	-4.1	5.2
2011-12	7.2	2.9	4.3
2012-13	5.9	4.3	1.6
2013-14	6.7	5.7	1.0
2014-15	1.2	-1.9	3.1
2015-16	7.7	5.1	2.6
2016-17	3.5	2.0	1.5
2017-18	-0.1	-3.6	3.5
2018-19	1.9	1.3	0.6
2019-20	-0.5	-1.1	0.6
2020-21	2.7	1.2	1.6
2021-22	5.7	1.6	4.1
2022-23	0.5	-3.9	4.5

Contributions to GVA growth (a) – Rental, hiring and real estate services

["","GVA","MFP","Combined input"]

[["1995-96","1996-97","1997-98","1998-99","1999-00","2000-01","2001-02","2002-03","2003-04","2004-05","2005-06","2006-07","2007-08","2008-09","2009-10","2010-11","2011-12","2012-13","2013-14","2014-15","2015-16","2016-17","2017-18","2018-19","2019-20","2020-21","2021-22","2022-23"],[[3.580110118],[5.382047514],[3.912968839],[1.054020864],[5.153122581],[-1.126151274],[4.11347278],[6.974882355],[1.348541391],[0.346996801],[4.69085349],[-5.025916115],[-3.157233065],[5.478797634],[0.836372891],[1.065968464],[7.219046309],[5.876627066],[6.669129953],[1.222911309],[7.676028147],[3.526258086],[-0.102937229],[1.92764402],[-0.488759174],[2.743927733],[5.716945352],[0.514464662]],[[4.34895933],[-3.797056135],[-1.17234214],[-4.928254551],[-2.240908606],[-8.001646809],[2.080876029],[-1.030634928],[-9.620693787],[-7.313460352],[-1.97926948],[-12.63199189],[-7.988768168],[4.240937074],[-0.6354715],[-4.096748826],[2.903257374],[4.294309327],[5.656843929],[-1.881420054],[5.107278551],[2.0086264],[-3.620674059],[1.31663824],[-1.122872254],[1.169121189],[1.593474044],[-3.943697484]],[[-0.768849211],[9.179103649],[5.08531098],[5.982275415],[7.394031186],[6.875495535],[2.032596752],[8.005517283],[10.96923518],[7.660457153],[6.67012297],[7.606075774],[4.831535102],[1.23786056],[1.471844392],[5.16271729],[4.315788935],[1.582317739],[1.012286024],[3.104331363],[2.568749597],[1.517631686],[3.51773683],[0.61100578],[0.634113081],[1.574806544],[4.123471309],[4.458162146]]]

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Natural log growth x 100

Information, media and telecommunication services records the largest MFP growth driven by continued strength in GVA

MFP rose 4.2%, the largest MFP increase of all industries in 2022-23. The rise was driven by:

Continued strength in GVA growth (10.0%) outpaced combined input (5.7%). The rise in the combined input reflected a 8.3% growth in hours worked and a 3.2% rise in capital services.
The strength in GVA was attributable to rising demand for software publishing, and mobile and internet services. The increase in demand for mobile and internet services was met with an improved fibre optic and 5G network.
The strength in hours worked was driven by the Motion picture and sound recording subdivision, attributable to a post-COVID rebound in cinema operations.

Contributions to GVA growth (a) – Information, media and telecommunication services
	GVA	MFP	Combined input
1995-96	5.3	-7.7	12.9
1996-97	7.1	1.4	5.7
1997-98	8.2	9.0	-0.8
1998-99	6.7	3.0	3.7
1999-00	3.3	-2.9	6.2
2000-01	3.8	-2.4	6.1
2001-02	3.2	2.8	0.4
2002-03	6.1	3.6	2.5
2003-04	4.4	3.6	0.8
2004-05	2.8	-3.9	6.7
2005-06	3.9	-0.5	4.4
2006-07	6.6	3.9	2.7
2007-08	5.8	2.1	3.7
2008-09	1.7	-0.9	2.6
2009-10	2.3	1.1	1.2
2010-11	3.2	1.4	1.8
2011-12	1.6	-1.6	3.2
2012-13	0.1	0.8	-0.7
2013-14	4.5	2.5	2.0
2014-15	7.1	7.6	-0.5
2015-16	7.9	3.1	4.8
2016-17	2.5	1.1	1.5
2017-18	8.5	4.0	4.5
2018-19	3.6	1.7	1.9
2019-20	1.2	2.4	-1.2
2020-21	4.0	-2.1	6.1
2021-22	11.3	10.3	1.0
2022-23	10.0	4.2	5.7

Contributions to GVA growth (a) – Information, media and telecommunication services

["","GVA","MFP","Combined input"]

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[]

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Natural log growth x 100

Productivity growth cycles

Growth cycle analysis can minimise the effects of some temporary influences (such as variations in capital utilisation) by averaging productivity measures over a cycle. For more information about the productivity growth cycle, please see the Feature Article: Experimental Estimates of Industry Value Added Growth Cycles in the 2015–16 issue of Estimates of Industry Multifactor Productivity.

2021-22 has been identified as the most recent productivity growth cycle peak for the market sector. In the latest growth cycle (2017-18 to 2021-22), market sector GVA growth was more subdued, averaging 1.5% per year. MFP contributed an average of 0.8 percentage points (ppts) to GVA growth per year.

This shows an increased MFP contribution from the previous growth cycles (2003-04 to 2009-10, and 2009-10 to 2017-18), in which MFP contributed 0.7 ppts and -0.2 ppts, respectively. Capital services contributed 0.7% ppts to GVA growth in the latest cycle, compared to 1.5 ppts in the previous cycle.

Contribution to output growth (hours worked basis), by growth cycle, average percentage points
	1998-99 to 2003-04	2003-04 to 2009-10	2009-10 to 2017-18	2017-18 to 2021-22
GVA growth (a)	3.6	3.0	2.8	1.5
Capital services	1.7	2.2	1.5	0.7
Hours worked	0.9	1.0	0.6	0.1
Multifactor productivity	1.0	-0.2	0.7	0.8

Natural log growth x 100

Direct Aggregation Across Industries (DAAI)

Experimental productivity measures (Tables 20-23) present the estimated industry contributions to market sector labour productivity growth under an alternative decomposition framework, the direct aggregation across industries (DAAI) approach (details included in Experimental productivity growth accounts). This approach enables the separation of direct productivity and hour reallocation effects. In addition, it allows tracking industry origins of the market sector’s labour productivity growth.

Contribution to market sector labour productivity growth - by industry, 2022-23, percentage points
	Direct productivity	Hour reallocation
A Agriculture, forestry and fishing	0.1	0.0
B Mining	-0.8	0.9
C Manufacturing	-0.1	0.0
D Electricity, gas, water and waste services	-0.2	0.1
E Construction	-0.2	-0.2
F Wholesale trade	-0.7	-0.1
G Retail trade	-0.1	-0.2
H Accommodation and food services	-0.1	-0.8
I Transport, postal and warehousing	-0.1	-0.1
J Information, media and telecommunications	0.1	0.1
K Financial and insurance services	-0.3	0.2
L Rental, hiring and real estate services	-0.2	0.0
M Professional, scientific and technical services	0.3	0.0
N Administrative and support services	0.0	-0.2
R Arts and recreation services	-0.1	-0.1
S Other services	0.0	-0.2
Total contribution	-2.3	-0.4

The direct effect is measured as the sum of direct labour productivity industry contributions. In 2022-23, the direct effect was the main driver (-2.3 ppts) of the decline in market sector labour productivity. Within the direct effect, labour productivity decline in Mining was the largest detractor (-0.8 ppts), followed by Wholesale trade (-0.7 ppts) and Financial and insurance services (-0.3 ppts).

The hour reallocation effect captures compositional changes to hours worked across industries. In 2022-23, the contribution of the reallocation effect to the decline in market sector labour productivity was relatively small (-0.4 ppts). The impact of labour reallocation to less productive industries (such as Accommodation and food services (-0.8 ppts) and Administrative and support services (-0.2 ppts)) was largely offset by hours worked growth in more productive industries (such as Mining (0.9 ppts) and Financial and insurance services (0.2 ppts)).

Revisions in this issue

This publication incorporates revisions as follows:

The historical revisions incorporated into the national accounts in 2022-2023, which are detailed in the Australian System of National Accounts 2022-23.
Updated estimates of labour composition for divisions L, M and N from 2011-12 onwards, which were estimated separately under the ANZSIC06 industry classification.

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Tables 27-42: Experimental estimates of state productivity
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Methodology

Estimates of Industry Multifactor Productivity methodology, 2022-23 financial year

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Estimates of Industry Multifactor Productivity

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Key statistics

Market sector productivity

Estimates of industry productivity, 2022-23

Wholesale trade records the largest MFP fall driven by strength in hours worked

Large MFP fall in Arts and recreation services driven by strength in hours worked

Rental, hiring and real estate services records a large fall in MFP driven by a slowdown in GVA

Information, media and telecommunication services records the largest MFP growth driven by continued strength in GVA

Productivity growth cycles

Direct Aggregation Across Industries (DAAI)

Revisions in this issue

Data downloads

Time series spreadsheets

Tables 1-19: Estimates of industry multifactor productivity

Tables 20-26: Experimental estimates of industry multifactor productivity

Tables 27-42: Experimental estimates of state productivity

Methodology

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APA

Estimates of Industry Multifactor Productivity

APA

Key statistics

Market sector productivity

Estimates of industry productivity, 2022-23

Wholesale trade records the largest MFP fall driven by strength in hours worked

Large MFP fall in Arts and recreation services driven by strength in hours worked

Rental, hiring and real estate services records a large fall in MFP driven by a slowdown in GVA

Information, media and telecommunication services records the largest MFP growth driven by continued strength in GVA

Productivity growth cycles

Direct Aggregation Across Industries (DAAI)

Revisions in this issue

Data downloads

Time series spreadsheets

Tables 1-19: Estimates of industry multifactor productivity

Tables 20-26: Experimental estimates of industry multifactor productivity

Tables 27-42: Experimental estimates of state productivity

Methodology

Articles

Interpreting ABS productivity statistics

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