5206.0 Australian National Accounts: National Income ......— nil or rounded to zero (including...

— nil or rounded to zero (including null cells)

–1.30.2Seasonally adjusted

–1.1—Trend

Real net national disposable income

–11.5–1.9Seasonally adjusted

Terms of trade

–1.7–0.4Original

GDP chain price index

–5.7–1.7Seasonally adjusted

–5.9–1.5Trend

Gross fixed capital formation (Chain volume measure)

3.20.7Seasonally adjusted

3.10.7Trend

Final consumption expenditure (Chain volume measure)

3.11.1Seasonally adjusted

3.20.9Trend

GDP (Chain volume measure)

% change% change

Mar Qtr 2015 toMar Qtr 2016

Dec Qtr 2015 toMar Qtr 2016

K E Y F I G U R E S

G D P S U M M A R Y

The March quarter 2016 National accounts show the Australian economy growing by

1.1% in seasonally adjusted chain volume terms.

The major driver of economic growth this quarter came from Exports which contributed

1.0 percentage point and Household final consumption expenditure contributing 0.4

percentage points.

The increase in Exports is reflected in the growth observed in Mining production (6.2%).

Growth was also observed in the service industries of Financial and insurance services

(1.8%), Accommodation and food services (1.5%), and Arts and recreation services

(0.9%).

The largest detractor from growth was Private gross fixed capital formation which fell

2.2%, this was driven by falls in New engineering construction (–6.4%) and New buildings

(–6.9%).

The Terms of trade fell by 1.9%, reflecting a fall in the price of exports relative to the

price of imports.

K E Y P O I N T S

E M B A R G O : 1 1 . 3 0 A M ( C A N B E R R A T I M E ) W E D 1 J U N 2 0 1 6

AUSTRALIAN NATIONALACCOUNTS: NATIONAL INCOME,EXPENDITURE AND PRODUCT

5206.0M A R C H Q U A R T E R 2 0 1 6

For further informationabout these and relatedstatistics, contact theNational Information andReferral Service on1300 135 070 orNational Accounts by email<[email protected]>.

GDP growth ratesVolume measures, quarterly change

Mar2010

Mar2012

Mar2014

Mar2016

%

–1.5

–1.0

–0.5

0

0.5

1.0

1.5

2.0TrendSeas. adj.

Notes: Volume measures, contributionsto quarterly growth.

Contribution to GDP growthSeasonally adjusted

GFCEHFCE

GFCF-PrivGFCF-PubInventories

ExportsImports

GDP

–0.5 0 0.5 1.0 1.5% points

I N Q U I R I E S

w w w . a b s . g o v . a u

1 March 2017December 2016

7 December 2016September 2016

7 September 2016June 2016

RELEASE DATEISSUE (Quarter)FO R T H C O M I N G I S S U E S

Da v i d W . Ka l i s c h

Au s t r a l i a n S t a t i s t i c i a n

The ABS Privacy Policy outlines how the ABS will handle any personal information that

you provide to the ABS.

PR I V A C Y

In December 2015, the Commonwealth Government released the 2015–16 Mid–Year

Economic and Fiscal Outlook (MYEFO) which included a reclassification of visa

application charges (VAC). In MYEFO these charges are now treated as taxation revenue

rather than sales of goods and services. This reclassification has been applied to the

Government Finance Statistics (GFS), with no impact on total GFS revenue or the GFS

net operating balance. The National Accounts statistics will maintain coherence with

previously published data and classify this transaction as sales of goods and services.

These treatments will remain in place until a review of the treatment of VAC and similar

government charges in macroeconomic statistics has been completed. This review is

expected to be finalised by the end of 2016.

OT H E R IN F O R M A T I O N

Changes to spreadsheet series IDs will occur in the June Quarter publication which will

be released on 7 September 2016. Details of these changes will be included in

5206.0.55.005 Information paper: Upcoming changes to spreadsheet series IDs in

National Income, Expenditure and Product which will be released on 8 July 2016.

UP C O M I N G CH A N G E S

There are revisions in this issue due to the incorporation of more up–to–date data and

concurrent seasonal adjustment.

There are additional revisions due to a correction made in the calculation of Average

compensation of employees. These revisions will impact the average compensation per

employee and average non–farm compensation per employee estimates from March

1985 to the current quarter.

RE V I S I O N S IN TH I S I S S U E

2 A B S • A U S T R A L I A N N A T I O N A L A C C O U N T S : N A T I O N A L I N C O M E , E X P E N D I T U R E A N D P R O D U C T • 5 2 0 6 . 0 • M A R 2 0 1 6

N O T E S

77Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .74Appendix: Time series spreadsheets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69Explanatory notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

AD D I T I O N A L IN F O R M A T I O N

66Revisions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62Annual data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .60Selected analytical series . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .59Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .57General government income account . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55Household income account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52National income, capital and external accounts . . . . . . . . . . . . . . . . . . . . . . .44Components of state final demand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42Changes in inventories and agricultural income . . . . . . . . . . . . . . . . . . . . . . .40Household final consumption expenditure . . . . . . . . . . . . . . . . . . . . . . . . . .38Income from GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34Industry gross value added . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24Expenditure on GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21Key national accounts aggregates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

TA B L E S

19List of tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18Recent and upcoming releases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10Analysis and comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8Main features: State final demand chain volume measures . . . . . . . . . . . . . . . . .6Main features: Income at current prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5Main features: Production chain volume measures . . . . . . . . . . . . . . . . . . . . . .4Main features: Expenditure chain volume measures . . . . . . . . . . . . . . . . . . . . .

page

A B S • A U S T R A L I A N N A T I O N A L A C C O U N T S : N A T I O N A L I N C O M E , E X P E N D I T U R E A N D P R O D U C T • 5 2 0 6 . 0 • M A R 2 0 1 6 3

C O N T E N T S

F I N A L CO N S U M P T I O N EX P E N D I T U R E

Household final consumption expenditure increased 0.7% in seasonally adjusted

terms. The growth in Household final consumption expenditure was driven by a rise

in Insurance and other financial services (1.6%) and Transport services (2.5%).

Government final consumption expenditure increased 0.9% in seasonally adjusted

terms.

GR O S S F I X E D CA P I T A L FO R M A T I O N

Gross fixed capital formation decreased 1.7% in seasonally adjusted terms. Public

investment increased 0.7% during the quarter. This was more than offset by a fall of

4.2% in Private business investment. The fall in Private business investment was

driven by a decrease in New engineering construction (–6.4%), New building

(–6.9%) and Machinery and equipment (–1.9%). Partially offsetting this fall was a rise

in Dwellings (1.4%). The fall in Total gross fixed capital formation detracted 0.4

percentage points from GDP growth during the quarter.

CH A N G E S IN IN V E N T O R I E S

The change in total inventories was an increase of $651m in seasonally adjusted

terms compared to an increase of $522m last quarter. This increase was driven by

rises in Wholesale trade and Mining industries.

EX P O R T S AN D IM P O R T S OF GO O D S AN D SE R V I C E S

Exports of goods and services increased 4.4% in seasonally adjusted terms.

Seasonally adjusted Exports of goods rose 4.0%, driven by Non–rural exports (5.6%)

and partially offset by Rural exports (–6.6%). Exports of services rose 6.1%.

Imports of goods and services fell 0.8% in seasonally adjusted terms. Imports of

goods fell 1.7%, with falls in Capital goods (–7.0%) and Intermediate goods (–0.5%).

This was offset by Non–Monetary Gold (3.6%). Imports of Services rose 2.6%.

Su m m a r y Co m m e n t sMA R C H QU A R T E R

na not available— nil or rounded to zero (including null cells)

1.13.11.10.93.20.9Gross domestic product–0.2nana—nanaStatistical discrepancy (E)0.2–2.0–0.80.1–1.0–0.5Imports of goods and services1.06.64.40.67.62.5Exports of goods and services0.21.00.20.21.00.2Gross national expenditure—nanana——Changes in inventories

—0.40.7—–1.40.8Public

—–2.81.1—–2.40.3Intellectual property products—6.01.1—6.60.2Cultivated biological resources

–0.1–7.7–1.9—–7.6–0.2Machinery and equipment–0.5–19.6–7.7–0.4–19.1–6.6Non–dwelling construction

—3.13.1—1.2–0.6Ownership transfer costs0.17.01.40.18.31.9Dwellings

PrivateGross fixed capital formation

0.43.00.70.43.10.7Households0.23.70.90.13.20.6General government

Final consumption expenditure

% points

contributions

to growth in

GDP Dec 15

to Mar 16

% change

Mar 15

to Mar 16

% change

Dec 15

to Mar 16

% points

contributions

to growth in

GDP Dec 15

to Mar 16

% change

Mar 15

to Mar 16

% change

Dec 15

to Mar 16

SEASONALLY ADJUSTEDTREND


M A I N F E A T U R E S E X P E N D I T U R E CH A I N V O L U M E ME A S U R E S

AG R I C U L T U R E , FO R E S T R Y AN D F I S H I N G

The seasonally adjusted estimate rose 2.5%. This increase was primarily driven by

livestock production which was supported by strong international demand. Strength

in cotton and barley yields also supported the increase.

MI N I N G

The seasonally adjusted estimate rose 6.2% following a moderate December quarter

result (1.4%). The increase was driven by Other mining (8.2%), Iron ore mining

(7.6%), Oil and gas extraction (5.1%), Coal mining (3.1%) and Exploration and

mining support services (2.4%). This is the fifteenth consecutive quarter of growth

in Iron ore mining.

MA N U F A C T U R I N G

The seasonally adjusted estimate rose 0.2% with increases in Food, beverage and

tobacco products (3.5%) and Machinery and equipment (2.9%), partially offset by

falls in Petroleum, coal, chemical and rubber products (–2.5%) and Metal products

(–3.4%).

CO N S T R U C T I O N

The seasonally adjusted estimate fell 1.1% driven by weakness in Non–residential

building construction and Heavy and civil engineering construction.

RE T A I L TR A D E

The seasonally adjusted estimate rose 0.8%, the fourteenth consecutive quarterly

rise for Retail trade.


na not available— nil or rounded to zero (including null cells)

1.13.11.10.93.20.9Gross domestic product—nana0.1nanaStatistical discrepancy (P)

0.12.31.0—1.60.8Taxes less subsidies on products—2.30.6—2.30.6Ownership of dwellings—–2.4–2.4—–0.6–0.6Other services—5.20.9—4.71.3Arts and recreation services—3.60.7—3.10.4Health care and social assistance—2.70.7—2.60.6Education and training

0.16.92.40.16.31.6Public administration and safety—–3.0–1.1—–3.5–1.4Administrative and support services—–1.70.5—–1.4–0.3Professional, scientific and technical services—7.5–1.5—8.90.7Rental, hiring and real estate services

0.25.21.80.14.91.2Financial and insurance services—5.50.2—6.81.4Information media and telecommunications—0.4–0.3—0.1–0.4Transport, postal and warehousing—0.81.5—0.2—Accommodation and food services—3.50.8—3.40.8Retail trade—2.11.0—2.51.0Wholesale trade

–0.11.9–1.1—2.70.3Construction—1.9–0.3—2.40.5Electricity, gas, water and waste services—–2.80.2—–3.1–0.7Manufacturing

0.511.26.20.310.63.7Mining0.10.52.5—0.61.7Agriculture, forestry and fishing

% points

contributions

to growth in

GDP Dec 15

to Mar 16

% change

Mar 15 to

Mar 16

% change

Dec 15

to Mar 16

% points

contributions

to growth in

GDP Dec 15

to Mar 16

% change

Mar 15 to

Mar 16

% change

Dec 15

to Mar 16



M A I N F E A T U R E S PR O D U C T I O N CH A I N VO L U M E ME A S U R E S

GR O S S OP E R A T I N G SU R P L U S (G O S )

Total seasonally adjusted GOS decreased 0.9% for the March quarter. Seasonally

adjusted Total corporations GOS decreased 1.7%. The main detractor was Private

non–financial corporations (–2.9%), partially offset by Financial corporations (0.7%)

and Public non–financial corporations (4.7%).

Trend GOS for Total corporations represented 24.7% of Total factor income.

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

51

52

53

54

55

COE SHARE OF TOTAL FACTOR INCOME: Trend

CO M P E N S A T I O N OF EM P L O Y E E S (C O E )

Seasonally adjusted COE increased 0.8%, reflecting an increase of 0.4% in average

earnings per employee.

Private sector COE rose 0.8% and the public sector COE rose 0.9%. The largest

increases were recorded for the Professional, scientific and technical services, and

Construction industries.

Trend COE represented 54.3% of Total factor income.


(a) Includes Public non–financial corporations, Financial corporations,General government and Dwellings owned by persons.

— nil or rounded to zero (including null cells)na not available

0.52.10.50.52.20.5Gross domestic product0.2nana—nanaStatistical discrepancy (I)0.14.70.80.15.40.9Taxes less subsidies on production and imports0.15.21.5—5.30.3Gross mixed income

0.24.21.00.23.70.9Other(a)–0.5–5.3–2.9–0.1–3.0–0.8Private non–financial corporations

Gross operating surplus0.43.60.80.43.30.7Compensation of employees

% points

contributions

to growth in

GDP Dec 15

to Mar 16

% change

Mar 15 to

Mar 16

% change

Dec 15

to Mar 16

% points

contributions

to growth in

GDP Dec 15

to Mar 16

% change

Mar 15 to

Mar 16

% change

Dec 15

to Mar 16



M A I N F E A T U R E S I N C O M E A T CU R R E N T PR I C E S

(a) GOS of non–financial and financial corporations.

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

242526

27282930

PROFIT (a) SHARE OF TOTAL FACTOR INCOME: Trend


NE W SO U T H WA L E S

New South Wales State final demand increased 1.0% in the March quarter on the

back of a 1.4% increase in the December quarter (revised up from a published

1.1%). Private gross fixed capital formation was the largest contributor to growth at

1.6%, driven by an increase of 5.0% in Machinery and equipment and 2.8% in Total

dwellings. Offsetting this increase was a drop of 1.3% in Non–dwelling construction

due to a drop in the value of work done in New building. Household final

consumption expenditure increased 0.9% with broad strength across all

components. This movement was driven by Insurance and other financial services,

Transport services, Operation of vehicles and Electricity, gas and other fuels, with

Cigarettes and tobacco, and Hotels, cafes and restaurants being the only detractors.

V I C T O R I A

Victoria State final demand increased 0.1% in the March quarter and follows the

1.4% increase in the December quarter (revised up from a published 1.2%).

Household final consumption expenditure was the main contributor to growth at

0.6%, adding 0.4 percentage points to Victorian State final demand, and was largely

driven by Electricity, gas and other fuels. Offsetting this movement was a decline in

Government final consumption expenditure, driven by a decrease of 1.2% in State

and local final consumption expenditure. Private gross fixed capital formation also

decreased 0.8% this quarter, driven by falls in Non–dwelling construction and

Machinery and equipment.

QU E E N S L A N D

Queensland State final demand remained flat in the March quarter following the

0.3% decrease in the December quarter (revised down from a published 0.1%).

Weakness in Private gross fixed capital formation continued this quarter with a

decrease of 3.6%, recording consistent falls in Non–dwelling construction and

Machinery and equipment. Offsetting this fall was Public gross fixed capital

formation, with an increase of 6.6% due to a rise of 19.7% from State and local

general government. The other notable increase was in Household final

consumption expenditure, increasing 0.3% driven by Insurance and other financial

services.


(a) Australia estimates relate to Domestic final demand.— nil or rounded to zero (including null cells)

0.11.3–0.30.1–1.2——0.11.0State final demand

0.72.25.0–2.7–2.31.46.6–1.9–1.1Public–2.22.8–4.4–0.9–4.9–3.9–3.6–0.81.6Private

Gross fixed capitalformation

0.70.50.70.40.70.60.30.60.9Households0.91.31.90.41.41.61.3–0.20.8General government

Final consumptionexpenditure

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

% change

Dec 15 to

Mar 16

Australia(a)

Australian

Capital

Territory

Northern

TerritoryTasmania

Western

Australia

South

AustraliaQueenslandVictoria

New

South

Wales

SEASONALLY ADJUSTED


M A I N F E A T U R E S S T A T E F I N A L DE M A N D CH A I N VO L U M E ME A S U R E S

SO U T H AU S T R A L I A

South Australia State final demand remained flat in the March quarter following the

0.3% rise in the December quarter (revised down from a published 0.4%). Insurance

and other financial services drove the 0.6% increase in Household final consumption

expenditure, with Electricity, gas and other fuels, and Cigarettes and tobacco being

the primary detractors. Increases in General government drove the rise of 1.4% in

Public gross fixed capital formation. Growth was offset by falls in Private gross fixed

capital formation with falls in New engineering construction of 15.5% and New

Building of 11.7%.

WE S T E R N AU S T R A L I A

Western Australia State final demand for the March quarter fell 1.2% following a 1.7%

fall in the December quarter (revised up from a published –2.3%). Private gross fixed

capital formation continues to be the greatest detractor from growth with a fall of

4.9% driven by a fall of 7.6% in Non–dwelling construction. Public gross fixed capital

formation fell 2.3% this quarter, driven by Commonwealth public corporations.

Clothing and footwear, and Transport services drove the Household final

consumption expenditure increase of 0.7%, while Government final consumption

expenditure also rose for the quarter with an increase of 1.4%.

TA S M A N I A

Tasmania State final demand rose 0.1% for the March quarter following a 0.1%

increase in the December quarter (revised down from a published 0.7%). Household

final consumption expenditure was the strongest contributor to growth, rising 0.4%

due to strength in Other goods and services, and Recreation and culture.

Government final consumption expenditure grew 0.4% due to strength from

Commonwealth final consumption expenditure. Public gross fixed capital formation

offset growth this quarter with Commonwealth public corporations falling 20.2%.

Private gross fixed capital formation fell by 0.9%, with a decrease in Total dwellings

of 9.0% following an increase in the December quarter. This fall was only partially

offset by an increase of 12.7% in Machinery and equipment.

NO R T H E R N TE R R I T O R Y

Northern Territory State final demand fell 0.3% in the March quarter following the

6.2% fall in the December quarter (revised up from a published –6.3%). Private gross

fixed capital formation ( –4.4%) fell for the fourth consecutive quarter, detracting 1.4

percentage points from Northern Territory State final demand. This decrease was

driven by a large fall of 4.4% in Non–dwelling construction. Machinery and

equipment fell for the sixth consecutive quarter with a decrease of 6.2%. Offsetting

these falls was an increase in Government final consumption expenditure driven by

an increase in Commonwealth final consumption expenditure.

AU S T R A L I A N CA P I T A L T E R R I T O R Y

Australian Capital Territory State final demand increased 1.3% for the March quarter

following the 1.1% increase in the December quarter (revised up from 1.0%). Private

gross fixed capital formation was the largest driver this quarter, rising 2.8% due to an

increase in Total dwellings of 23.9%. There was also growth in Final consumption

expenditure of 1.0%, with Government and Household final consumption

expenditure increasing 1.3% and 0.5% respectively. An increase in Public gross fixed

capital formation was driven by General government which rose 4.7%.


The real purchasing power of income generated by domestic production is affected by

changes in import and export prices. Real gross domestic income adjusts the chain

volume measure of GDP for the Terms of trade effect. The graph below provides a

comparison of quarterly movements in trend GDP (volume measure) and Real gross

domestic income. In trend terms, during the March quarter, Real gross domestic income

RE A L GR O S S DO M E S T I C

IN C O M E

From the March quarter 2015 to the March quarter 2016, Mining (0.9 percentage points),

Financial and insurance services (0.4 percentage points), Public administration and safety

(0.3 percentage points), Construction (0.2 percentage points) and Retail trade (0.2

percentage points) industries were the largest contributors to total trend growth of 3.2%.

Manufacturing (–0.2 percentage points) was the largest detractor in trend terms.

Mining

Financial and insurance services

Public administration and safety

Construction

Retail trade

Manufacturing

–0.25 0 0.25 0.50 0.75 1.00%points

SELECTED INDUSTRIES CONTRIBUT ION TO GROWTH, Mar 15 to Mar16 : Trend

On the expenditure side, the increase this quarter (in seasonally adjusted volume terms)

was driven by Exports (1.0 percentage points) and Final consumption expenditure (0.5

percentage points). These increases were partially offset by Total gross fixed capital

formation (–0.4 percentage points).

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–1.0

–0.5

0

0.5

1.0

1.5

2.0TrendSeas. adj.

GDP, Percen tage changes —Volume measures

In seasonally adjusted terms, GDP increased 1.1% in the March quarter, through the year

GDP growth was 3.1%.

GR O W T H RA T E S IN GD P


A N A L Y S I S A N D C O M M E N T S

A broader measure of change in national economic well–being is Real net national

disposable income. This measure adjusts the volume measure of GDP for the Terms of

trade effect, Real net incomes from overseas and Consumption of fixed capital (see

Glossary for definitions). The graph below provides a comparison of quarterly

movements in trend GDP (volume measure) and Real net national disposable income.

During the March quarter, trend Real net national disposable income was flat at 0.0%.

Through the year Real net national disposable income fell 1.1% compared with an

increase of 3.2% for GDP.

RE A L NE T NA T I O N A L

D I S P O S A B L E IN C O M E

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

index

60

80

100

120

140

TERMS OF TRADE, Trend —(2013—14 = 100.0)

The Terms of trade represents the relationship between the prices of exports and

imports. An increase (decrease) in the Terms of trade reflects export prices increasing

(decreasing) at a faster rate than import prices. The Terms of trade decreased 1.9% in

seasonally adjusted terms in the March quarter following a decrease of 3.3% in the

December quarter. From the March quarter 2015 to the March quarter 2016 the Terms of

trade has fallen 11.5%.

TE R M S OF TR A D E

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–2

–1

0

1

2

3GDP (chain volume measure)Real Gross Domestic Income

REAL GROSS DOMESTIC INCOME, Percen tage changes : Trend

increased by 0.3%, while the volume measure of GDP increased by 0.9%, the difference

reflecting a decrease of 2.3% in the Terms of trade in trend terms.

RE A L GR O S S DO M E S T I C

IN C O M E continued


A N A L Y S I S A N D C O M M E N T S continued

The Household saving ratio was 8.1% in seasonally adjusted terms in the March quarter

2016. The trend estimate for the Household saving ratio was 7.8% in the March quarter

2016.

Household saving is not measured directly. It is calculated as a residual item by

deducting Household final consumption expenditure from Household net disposable

income. As the difference between the two aggregates is relatively small, caution should

be exercised in interpreting the Household saving ratio in recent years, because major

components of household income and expenditure may be subject to significant

revisions. The impact of these revisions on the saving ratio can cause changes in the

direction of the trend. For more information on the Household saving ratio, see Spotlight

on National Accounts, 2007–Household Saving Ratio (cat. no. 5202.0).

HO U S E H O L D SA V I N G

RA T I O

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–2

–1

0

1

2

3TrendSeas. adj.

NET EXPORTS CONTRIBUT ION TO GROWTH, Volume measures

Net exports represents the difference between exports and imports of goods and

services. Net exports detract from GDP growth when the change in the volume of

imports is greater than the change in the volume of exports. In seasonally adjusted

terms, Net exports contributed 1.1 percentage points to GDP growth in the March

quarter 2016. Net exports was flat in the December quarter 2015. In the March quarter

2016, Exports of goods and services contributed 1.0 percentage point and the fall in

Imports of goods and services contributed 0.2 percentage points.

NE T EX P O R T S

CO N T R I B U T I O N TO

GR O W T H

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–2

–1

0

1

2

3GDP (chain volume measure)Real net national disposable income

REAL NET NATIONAL DISPOSABLE INCOME, Percentage Changes :Trend

RE A L NE T NA T I O N A L

D I S P O S A B L E IN C O M E

continued



The GDP Chain price index fell 0.4% in the March quarter.

The Chain price index for Household final consumption expenditure (HFCE) decreased

0.1% in the March quarter 2016, aligning with a 0.2% decrease in the Consumer Price

Index (CPI) over the same period. The HFCE Chain price index is the National Accounts

measure most directly comparable to the CPI. However, it should be noted that the

conceptual basis for these two price measures are different. The most important

differences are:

the frequency with which each index is re–weighted;

the range of lower level indexes contributing to each index; and

the concepts and treatment of household expenditure, particularly in respect of

home ownership costs.

The Chain price index for Private gross fixed capital formation decreased 0.4% in the

March quarter. There were falls in the Chain price indexes for Non–dwelling construction

(–0.4%), and Machinery and equipment (–0.9%); these were partially offset by an

increase in the Chain price index for Dwellings (0.1%).

The Domestic final demand Chain price index, encompassing changes in both

consumption and investment prices, decreased 0.2% this quarter but has increased 1.4%

through the year.

The Export Chain price index decreased 3.9% during the quarter and has fallen 11.4%

through the year. The Import Chain price index decreased 2.7% in the March quarter but

has increased 0.9% through the year.

PR I C E S IN TH E NA T I O N A L

AC C O U N T S

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–4

0

4

8

12

TrendSeas. adj.

HOUSEHOLD SAVING RAT IO , Cur ren t pr icesHO U S E H O L D SA V I N G

RA T I O continued



The National Accounts dataset contains a number of labour market related indicators.

Labour costs are the costs incurred by employers in the employment of labour. These

costs include wages and salaries, bonuses, paid leave, superannuation, taxes on

employment, training and recruitment costs, and fringe benefits (included in wages and

salaries in the national accounts). They are of particular interest as they impact on the

competitiveness of organisations, employers' willingness to employ and individuals'

willingness to supply labour.

Labour costs are reflected in household income via Compensation of employees and

therefore have a significant impact on household consumption, investment and saving

decisions.

In the March quarter 2016, seasonally adjusted Compensation of employees increased

0.8%, and the seasonally adjusted number of employees recorded in the Labour Force

survey grew 0.4%. Average compensation per employee increased 0.4%.

In trend terms, Hours worked rose 0.4% over the quarter and increased 1.3% through

the year. In the Market sector (see Glossary for definition), Hours worked increased 0.6%

over the quarter and rose 1.4% through the year. In the March quarter 2016, GDP per

hour worked (in trend terms) rose 0.5% over the quarter and 1.1% through the year.

Market sector Gross value added (GVA) per hour worked (in trend terms) rose 0.3% over

the quarter and 1.4% through the year. Estimates of GDP per hour worked are

commonly interpreted as changes in labour productivity. However, it should be noted

that these measures reflect not only the contribution of labour to changes in production

per hour worked, but also the contribution of capital and other factors (such as

managerial efficiency, economies of scale, etc.).

The graph below presents quarterly growth rates in trend GDP and hours worked. The

ABS has produced analysis concerning the relationship between GDP and hours worked.

For more information please refer to Feature Article - Leading Indicators of

Employment in the Australian Economic Indicators, Apr 2004 (cat. no. 1350.0) and the

Research Paper: Analysing the Terms of Trade Effect on GDP and Employment in the

Presence of Low Real Unit Labour Costs (cat. no. 1351.0.55.014).

NA T I O N A L AC C O U N T S

LA B O U R MA R K E T

IN D I C A T O R S

Government Final Consumption

Households Final Consumption

Dwelling construction

Non-dwelling construction

Machinery and equipment

Domestic final demand

Exports of goods and services

Imports of goods and services

–12 –9 –6 –3 0 3 6%change

Mar 16 %Mar 15 to Mar 16 %

SELECTED EXPENDITURE CHAIN PRICE INDEXES, Percentage changes :Or ig i na l

PR I C E S IN TH E NA T I O N A L

AC C O U N T S continued



Changes in inventories can have a significant impact on growth in quarterly GDP. A

positive change in inventories can be seen as production increasing at a faster rate than

consumption but the exact reasons underlying changes in inventories can be far more

complex. For example, firms may run up or run down inventories in anticipation of

future sales, supply constraints could affect inventories, or firms may under or over

estimate sales in a particular period.

The graph below shows GDP growth and the Changes in inventories contribution to

GDP growth, both in trend terms. Even in trend terms the Changes in inventories

contribution to GDP growth is quite volatile.

CH A N G E S IN

IN V E N T O R I E S

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

index

98

100

102

104

106Real unit labour costsReal unit labour costs – non–farm

REAL UNIT LABOUR COSTS: Trend —(2013–14 = 100.0)

Unit labour costs (ULC) represent a link between productivity and the cost of labour in

producing output. Nominal ULC measures the average cost of labour per unit of output

while a Real ULC adjusts the nominal ULC for general inflation. Positive growth in real

ULC indicates that labour cost pressures exist. In the March quarter 2016, trend Real ULC

decreased 0.5% and the trend Non–farm Real ULC decreased –0.1%. The Non–farm

measure is generally preferred as it removes some of the fluctuations associated with

Agriculture.

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–1.0

–0.5

0

0.5

1.0

1.5

GDPHours worked

HOURS WORKED, Percen tage Change : TrendNA T I O N A L AC C O U N T S

LA B O U R MA R K E T

IN D I C A T O R S continued



The National income account shows how Gross disposable income is used for Final

consumption expenditure and the Consumption of fixed capital (depreciation), with the

balance being the nation's net saving. In the March quarter 2016, National net saving

relative to Net national disposable income was 4.1% in trend terms.

The sectoral income accounts are disaggregations of the National income account, and

record for each institutional sector its net income arising from production, property

income and transfers from other sectors, and its uses of income. The difference between

income and use of income is Net saving. In the March quarter 2016, Net saving for

Non–financial corporations was –$8.6b in trend terms. Financial corporations net saving

was $7.1b. General government was –$6.7b while Household net saving was $20.3b.

I N C O M E AC C O U N T S

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

$m

–2000

–1500

–1000

–500

0

500

1000

1500

2000MiningManufacturingWholesale tradeRetail trade

CHANGE IN INVENTORIES, Selec ted indus t r ies : Trend

Changes in inventories can be disaggregated into a number of industries. The graph

below shows the four largest inventory holding industries, Mining, Manufacturing,

Wholesale trade and Retail trade. In seasonally adjusted terms, Manufacturing inventories

were run down in the March quarter 2016, while Mining, Wholesale trade and Retail

trade experienced a build–up in inventories.

Mar2002

Mar2004

Mar2006

Mar2008

Mar2010

Mar2012

Mar2014

Mar2016

%

–1.0

–0.5

0

0.5

1.0

1.5Inventories contribution to growthGDP (Volume measure)

INVENTORIES AND GDP, Volume measures : TrendCH A N G E S IN

IN V E N T O R I E S continued



0.40.71.00.91.1March2016

0.70.80.90.90.7December0.90.80.70.81.0September0.60.60.60.60.3June0.60.60.60.60.8March

2015

0.50.50.50.50.5December0.50.50.50.50.4September0.60.60.60.60.5June0.70.70.70.70.9March

2014

0.80.80.80.80.8December0.70.70.70.70.5September

2013

Falls

by

1.0%

No

change

Grows

by

1.0%

TREND ESTIMATE IFSEASONALLY ADJUSTED GDPCHANGES BY THE FOLLOWINGAMOUNTS IN JUN QTR 2016

Trend

GDP as

published

in table 1

Seasonally

adjusted

GDP as

published

in table 2

PERCENTAGE CHANGE IN GDP CHAIN VOLUME MEASURES

Trend estimates are used throughout this publication to analyse movements in time

series data. Details regarding the procedures used to estimate the trend series are

described in the Explanatory Notes (paragraphs 13 – 17) and in Information Paper: A

Guide to Interpreting Time Series–Monitoring Trends, 2003 (cat. no. 1349.0). Potential

revisions to trend estimates can be indicated by showing the effects of particular changes

in seasonally adjusted estimates that might occur in the next quarter. The table below

shows the trend estimates for the current quarter and previous ten quarters, and the

values to which they would be revised if the given movements in seasonally adjusted

GDP actually occurred in the June quarter 2016. For example, in the absence of any

other revisions, for March quarter trend GDP to remain at 0.9%, June quarter seasonally

adjusted GDP would need to grow by 0.7%.

RE L I A B I L I T Y OF

CO N T E M P O R A R Y TR E N D

ES T I M A T E S

Mar1991

Mar1996

Mar2001

Mar2006

Mar2011

Mar2016

–6

–3

0

3

6

9

12Non-financial corporationsFinancial corporationsGeneral governmentHouseholds

NET SAVING, By sec to r —relat i ve to Net nat iona l disposab le income :Trend

I N C O M E AC C O U N T S

continued



Information paper: Quarterly Current Price Gross Value Added by Industry was

released on 12 May 2016. This paper presents experimental estimates of quarterly

current price gross value added (GVA) by industry, that have been developed to further

improve the quality and coherence of the Australian System of National Accounts. These

estimates provide an industry perspective to the income measure of GDP, and can be

used to confront the production and income components of GDP.

I N F O R M A T I O N PA P E R :

QU A R T E R L Y CU R R E N T

PR I C E GR O S S VA L U E

AD D E D BY IN D U S T R Y

(C A T . NO .

52 0 6 . 0 . 5 5 . 0 0 4 )

The 2013–14 issue of Australian National Accounts: Input–Output Tables will be

released on 29 June 2016. This product presents information on input by industry and

output by product group, use of domestic production and imports by industry and final

demand categories, taxes and margins on supply by product, and industry and product

concordances.

AU S T R A L I A N NA T I O N A L

AC C O U N T S :

IN P U T – O U T P U T TA B L E S –

EL E C T R O N I C PU B L I C A T I O N

(C A T . NO .

52 0 9 . 0 . 5 5 . 0 0 1 )

The March quarter 2016 issue of Australian National Accounts: Finance and Wealth

will be released on 30 June 2016. It provides quarterly estimates of the financial flows

between sectors of the domestic economy and with the rest of the world. In addition,

the publication provides estimates of the financial assets and liabilities owned by each

sector and various sub–sectors at the end of each quarter. Other key estimates within the

publication include the demand for credit by non–financial domestic institutional sectors

during the quarter, and their corresponding levels of credit outstanding.


AC C O U N T S : F I N A N C E AN D

WE A L T H (C A T . NO .

52 3 2 . 0 )

The 2014–15 issue of the Australian National Accounts: State Accounts was released on

20 November 2015. It provides detailed, annual estimates of Gross State Product (GSP)

for all states and territories. These are estimated using the expenditure, income and

production approaches. Also published are estimates of household and agricultural

incomes. Many, but not all, estimates are available as chain volume measures as well as in

current prices.


AC C O U N T S : ST A T E

AC C O U N T S (C A T . NO .

52 2 0 . 0 )

The 2014–15 issue of the Australian System of National Accounts was released on 30

October 2015. It provides detailed, annual estimates of Australia's National Accounts.

These include expenditure, income and production estimates of Gross Domestic

Product (GDP), productivity estimates, sectoral accounts (for households, financial and

non–financial corporations, general government and the rest of the world), and

additional aggregates dissected by industry. Many, but not all, estimates are available as

chain volume measures as well as in current prices.

AU S T R A L I A N SY S T E M OF

NA T I O N A L AC C O U N T S

(C A T . NO . 52 0 4 . 0 )

RE C E N T AN D UP C O M I N G RE L E A S E S


R E C E N T A N D U P C O M I N G R E L E A S E S

43Agricultural income, Current prices: Trend and seasonally adjusted23 . . . . . .42

Changes in inventories, Chain volume measures: Trend and seasonally

adjusted

22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CH A N G E S IN IN V E N T O R I E S AN D AG R I C U L T U R A L IN C O M E

41

Household final consumption expenditure, Chain volume measures:

Seasonally adjusted

21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

40

Household final consumption expenditure, Chain volume measures:

Trend

20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

HO U S E H O L D F I N A L CO N S U M P T I O N EX P E N D I T U R E

39Income from GDP, Current prices: Seasonally adjusted19 . . . . . . . . . . . . . .38Income from GDP, Current prices: Trend18 . . . . . . . . . . . . . . . . . . . . . .

I N C O M E FR O M GD P

37

Industry gross value added, Chain volume measures, Percentage

changes: Seasonally adjusted

17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

36

Industry gross value added, Chain volume measures: Seasonally

adjusted

16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35

Industry gross value added, Chain volume measures, Percentage

changes: Trend

15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

34Industry gross value added, Chain volume measures: Trend14 . . . . . . . . . . .I N D U S T R Y GR O S S VA L U E AD D E D

33

Expenditure on GDP, Implicit price deflators, Percentage changes:

Seasonally adjusted

13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

32Expenditure on GDP, Implicit price deflators: Seasonally adjusted12 . . . . . . .31

Expenditure on GDP, Chain price indexes, Percentage changes:

Original

11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

30Expenditure on GDP, Chain price indexes: Original10 . . . . . . . . . . . . . . . .29Expenditure on GDP, Current prices: Seasonally adjusted9 . . . . . . . . . . . .28

Expenditure on GDP, Chain volume measures, Contributions to

growth: Seasonally adjusted

8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

27

Expenditure on GDP, Chain volume measures, Percentage changes:

Seasonally adjusted

7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

26Expenditure on GDP, Chain volume measures: Seasonally adjusted6 . . . . . .25

Expenditure on GDP, Chain volume measures, Percentage changes:

Trend

5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24Expenditure on GDP, Chain volume measures: Trend4 . . . . . . . . . . . . . .EX P E N D I T U R E ON GD P

23Key national accounts aggregates: Annual3 . . . . . . . . . . . . . . . . . . . . . .22Key national accounts aggregates: Seasonally adjusted2 . . . . . . . . . . . . . .21Key national accounts aggregates: Trend1 . . . . . . . . . . . . . . . . . . . . . . .

KE Y NA T I O N A L AC C O U N T S AG G R E G A T E S

page


L I S T O F T A B L E S

68

Industry gross value added, Chain volume measures, Revisions to

percentage changes: Seasonally adjusted

48. . . . . . . . . . . . . . . . . . . . . . .

67

Gross domestic product account, Current prices, Revisions: Seasonally

adjusted

47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

66

Expenditure on GDP, Chain volume measures, Revisions to percentage

changes: Seasonally adjusted

46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

RE V I S I O N S

65Industry gross value added, Chain volume measures: Annual45 . . . . . . . . . .64Income from GDP, Current prices: Annual44 . . . . . . . . . . . . . . . . . . . . . .63Expenditure on GDP, Current prices: Annual43 . . . . . . . . . . . . . . . . . . . .62Expenditure on GDP, Chain volume measures: Annual42 . . . . . . . . . . . . . .

AN N U A L DA T A

61Selected analytical series: Seasonally adjusted41 . . . . . . . . . . . . . . . . . . . .60Selected analytical series: Trend40 . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SE L E C T E D AN A L Y T I C A L SE R I E S

59Taxes, Current prices: Trend and seasonally adjusted39 . . . . . . . . . . . . . . .58

General government income account, Current prices: Seasonally

adjusted

38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

57General government income account, Current prices: Trend37 . . . . . . . . . .GE N E R A L GO V E R N M E N T SE C T O R

56Household income account, Current prices: Seasonally adjusted36 . . . . . . . .55Household income account, Current prices: Trend35 . . . . . . . . . . . . . . . .

HO U S E H O L D SE C T O R

54External accounts, Current prices: Trend and seasonally adjusted34 . . . . . . .53National capital account, Current prices: Trend and seasonally adjusted33 . . . .52

National income account, Current prices: Trend and seasonally

adjusted

32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

NA T I O N A L IN C O M E , CA P I T A L AN D EX T E R N A L AC C O U N T S

51

State final demand, Chain volume measures: Australian Capital

Territory

31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

50State final demand, Chain volume measures: Northern Territory30 . . . . . . . .49State final demand, Chain volume measures: Tasmania29 . . . . . . . . . . . . . .48State final demand, Chain volume measures: Western Australia28 . . . . . . . . .47State final demand, Chain volume measures: South Australia27 . . . . . . . . . .46State final demand, Chain volume measures: Queensland26 . . . . . . . . . . . .45State final demand, Chain volume measures: Victoria25 . . . . . . . . . . . . . . .44State final demand, Chain volume measures: New South Wales24 . . . . . . . . .

ST A T E F I N A L DE M A N D

page


L I S T O F T A B L E S continued

(c) Population estimates are as published in the Australian Demographic Statistics(cat. no. 3101.0) and ABS projections.

(d) ANZSIC divisions A to N, R and S. See Glossary - Market sector.(e) Reference year for indexes is 2013–14 = 100.0.

. . not applicable— nil or rounded to zero (including null cells)(a) Change on preceding quarter; last column shows the change between the

current quarter and the corresponding quarter of the previous year.(b) Reference year for chain volume measures and real income measures is

2013–14.

. .78.480.382.785.788.791.393.595.3Terms of tradePrices

. .101.8101.9101.8101.1100.3100.6100.4100.2Real unit labour costs - non-farm

. .101.9102.5101.9101.2100.7101.2101.0100.6Real unit labour costs

. .102.7102.4102.2101.8101.3100.8100.5100.6Gross value added per hour worked market sector(d)

. .102.3101.9101.5101.3101.4101.3101.1100.7GDP per hour worked

. .102.9102.3101.8101.5101.3101.2100.8100.3Hours worked market sector(d)

. .103.5103.1102.6102.0101.3100.8100.4100.3Hours workedProductivity

I N D E X E S (e)

. .7.88.08.48.78.99.19.39.6Household saving ratio

. .13 10315 12417 76520 74323 44125 91427 96829 687National net saving ($m)

. .402 780401 465399 866397 996395 612393 400391 510389 953Gross national income ($m)

. .17 18017 14817 11417 08117 04217 00417 00017 035GDP per capita(c) ($)

. .412 624410 526408 325406 103403 797401 578400 182399 655GDP ($m)

Current price measures

. .13 21013 24713 31313 41513 53113 61513 66813 719Real net national disposable income per capita(c) ($)

. .317 237317 149317 633318 948320 612321 541321 754321 854Real net national disposable income ($m)

. .387 272386 579386 414387 077388 106388 423388 056387 586Real gross national income ($m)

. .398 985397 657396 694396 349396 419396 297396 521397 248Real gross domestic income ($m)

Real income measures(b)

. .349 983346 933344 037341 553339 590337 811336 278334 763Net domestic product ($m)

. .286 750284 358282 225280 300278 448276 593275 018273 683Gross value added market sector(d) ($m)

. .17 47117 37217 28217 21117 16017 11417 08217 052GDP per capita(c) ($)

. .419 560415 896412 342409 190406 577404 191402 105400 059GDP ($m)

Chain volume GDP and related measures(b)

L E V E L S

–11.5–2.3–3.0–3.5–3.3–2.9–2.3–1.9–6.9Terms of TradePrices

1.5–0.1—0.70.8–0.30.20.20.9Real unit labour costs - non-farm1.2–0.50.50.70.5–0.50.20.40.9Real unit labour costs1.40.30.30.40.50.50.2—0.1Gross value added per hour worked market sector(d)1.00.50.40.2–0.10.10.20.30.4GDP per hour worked1.60.60.50.30.20.10.30.50.4Hours worked market sector(d)2.20.40.50.60.70.50.30.20.1Hours worked

Productivity

2.20.50.50.50.60.60.30.10.2GDPCurrent price measures

–2.4–0.3–0.5–0.8–0.9–0.6–0.4–0.4–0.3Real net national disposable income per capita(c)–1.1—–0.2–0.4–0.5–0.3–0.1—0.1Real net national disposable income–0.20.2—–0.2–0.3–0.10.10.10.2Real gross national income0.60.30.20.1——–0.1–0.2–0.1Real gross domestic income


3.10.90.80.70.60.50.50.50.5Net domestic product3.00.80.80.70.70.70.60.50.5Gross value added market sector(d)1.80.60.50.40.30.30.20.20.2GDP per capita(c)3.20.90.90.80.60.60.50.50.6GDP


PE R C E N T A G E CH A N G E (a)

MarDecSepJunMarDecSepJun

Mar 15 to

Mar 16

2015–162014–152013–14

KEY NAT IONAL ACCOUNTS AGGREGATES: Trend1


(b) Reference year for chain volume measures and real income measures is2013–14.



. . not applicable— nil or rounded to zero (including null cells)na not available(a) Change on preceding quarter; last column shows the change between the

current quarter and the corresponding quarter of the previous year.

. .78.780.283.085.388.991.592.996.1Terms of tradePrices

. .101.9101.8101.9101.2100.1100.5100.9100.3Real unit labour costs - non-farm

. .102.0102.4102.0101.4100.4101.1101.5100.7Real unit labour costs

. .102.9102.0102.6101.9101.1100.9100.6100.2Gross value added per hour worked market sector(d)

. .102.8101.4101.9101.3101.1101.8101.1100.5GDP per hour worked

. .102.8102.7101.4101.2101.7100.8100.7100.7Hours worked market sector(d)

. .103.2103.4102.2101.8101.7100.1100.4100.5Hours workedProductivity

I N D E X E S (e)

. .8.17.58.59.08.69.29.39.6Household saving ratio

. .12 19015 39218 27619 33524 72025 94626 81730 683National net saving ($m)

. .402 058401 849400 486397 051396 191393 711390 282390 678Gross national income ($m)

. .17 17517 13917 14117 05117 05817 02316 95817 016GDP per capita(c) ($)

. .412 425410 447408 916405 389404 137402 021399 253399 178GDP ($m)


. .13 22513 23913 30413 38113 57713 62013 64313 713Real net national disposable income per capita(c) ($)

na317 562317 056317 395318 131321 659321 653321 203321 696Real net national disposable income ($m)

. .387 643386 468386 194386 257389 130388 561387 480387 436Real gross national income ($m)

na399 432397 295396 839395 584397 243396 400395 811396 866Real gross domestic income ($m)


. .350 405346 650344 256340 828340 333337 526336 104334 800Net domestic product ($m)

. .287 023284 096282 325279 884279 238276 021274 977273 806Gross value added market sector(d) ($m)

. .17 49117 35417 29417 18017 19217 10217 07117 057GDP per capita(c) ($)

. .420 023415 605412 567408 467407 316403 898401 911400 120GDP ($m)


L E V E L S

–11.5–1.9–3.3–2.8–4.0–2.8–1.6–3.3–4.6Terms of TradePrices

1.80.1–0.10.71.2–0.4–0.40.61.3Real unit labour costs - non-farm1.5–0.50.40.61.0–0.7–0.30.71.2Real unit labour costs1.81.0–0.70.80.70.20.40.4–0.7Gross value added per hour worked market sector(d)1.61.3–0.50.60.1–0.70.70.6–0.2GDP per hour worked1.00.11.30.1–0.51.0——1.2Hours worked market sector(d)1.5–0.31.20.40.21.5–0.2–0.20.7Hours worked

Productivity

2.10.50.40.90.30.50.7—–0.2GDPCurrent price measures

–2.6–0.1–0.5–0.6–1.4–0.3–0.2–0.5–0.5Real net national disposable income per capita(c)–1.30.2–0.1–0.2–1.1—0.1–0.2–0.1Real net national disposable income–0.40.30.1—–0.70.10.3——Real gross national income0.60.50.10.3–0.40.20.1–0.3–0.4Real gross domestic income


3.01.10.71.00.10.80.40.40.4Net domestic product2.81.00.60.90.21.20.40.40.5Gross value added market sector(d)1.70.80.30.7–0.10.50.20.10.2GDP per capita(c)3.11.10.71.00.30.80.50.40.5GDP




Mar 15 to

Mar 16

2015–162014–152013–14

KEY NAT IONAL ACCOUNTS AGGREGATES: Seasona l l y ad jus ted2




— nil or rounded to zero (including null cells)(a) Percentage change on preceding year.(b) Reference year for chain volume measures and real income measures is

2013–14.

89.7100.0103.8114.9114.494.998.891.8Terms of tradePrices

100.6100.0100.6100.299.599.598.7101.7Real unit labour costs - non-farm101.0100.099.699.398.799.198.7101.6Real unit labour costs101.4100.098.094.591.391.188.587.8Gross value added per hour worked market sector(d)101.1100.098.595.493.393.791.691.2GDP per hour worked101.4100.099.7100.699.997.798.598.0Hours worked market sector(d)101.3100.099.099.998.595.896.094.8Hours worked

Productivity

I N D E X E S (e)

9.09.710.211.110.19.19.94.0Household saving ratio96 724121 832132 527144 583119 25683 348107 72677 694National net saving ($m)

1 577 0461 542 2291 485 9861 445 6341 353 1641 246 4261 214 5171 129 815Gross national income ($m)

68 24968 05966 51666 21863 59259 31658 60756 056GDP per capita(c) ($)

1 611 1901 584 5781 524 3831 491 0461 409 7951 296 7971 258 4591 177 941GDP ($m)


54 34355 09855 38456 33054 60051 91953 01052 261Real net national disposable income per capita(c) ($)

1 282 9111 282 8291 269 2711 268 4031 210 4381 135 0841 138 2811 098 192Real net national disposable income ($m)

1 551 6921 542 2291 518 4511 506 1951 437 4971 352 5081 343 8081 292 209Real gross national income ($m)

1 585 3011 584 5781 557 6971 553 5101 497 6571 407 1981 392 3751 347 197Real gross domestic income ($m)


1 354 7541 326 9091 298 7231 273 1391 230 7321 206 6721 189 1271 175 881Net domestic product ($m)

1 110 1201 085 4741 059 6421 032 648990 162966 562945 899933 823Gross value added market sector(d) ($m)

68 68868 05967 45667 02065 68665 05964 93065 163GDP per capita(c) ($)

1 621 5541 584 5781 545 9321 509 1091 456 2091 422 3631 394 2251 369 308GDP ($m)


L E V E L S

–10.3–3.7–9.70.420.6–4.07.65.6Terms of TradePrices

0.6–0.60.50.60.10.7–2.90.6Real unit labour costs - non-farm1.00.40.30.6–0.40.4–2.80.2Real unit labour costs1.42.13.63.60.23.00.81.3Gross value added per hour worked market sector(d)1.11.53.32.2–0.42.30.50.8GDP per hour worked1.40.3–1.00.72.3–0.80.53.0Hours worked market sector(d)1.31.0–0.81.42.8–0.21.32.9Hours worked

Productivity

1.73.92.25.88.73.06.88.4GDPCurrent price measures

–1.4–0.5–1.73.25.2–2.11.43.2Real net national disposable income per capita(c)—1.10.14.86.6–0.33.75.2Real net national disposable income

0.61.60.84.86.30.64.05.3Real gross national income—1.70.33.76.41.13.44.9Real gross domestic income


2.12.22.03.42.01.51.13.3Net domestic product2.32.42.64.32.42.21.34.3Gross value added market sector(d)0.90.90.62.01.00.2–0.41.8GDP per capita(c)2.32.52.43.62.42.01.83.7GDP



2014–152013–142012–132011–122010–112009–102008–092007–08

KEY NAT IONAL ACCOUNTS AGGREGATES: Annua l3


(a) Reference year for chain volume measures is 2013–14.

419 560415 896412 342409 190406 577404 191402 105400 059397 736Gross domestic product

1 5561 7241 7801 321430–185–406–135424Statistical discrepancy (E)84 12784 50985 08385 40184 96784 52184 21184 26184 369less Imports of goods and services95 84893 48091 22589 75789 10888 03886 55084 81683 497Exports of goods and services

406 168405 203404 424403 514402 004400 850400 189399 705398 265Gross national expenditure

47020240–220–279265714555–355Changes in inventories

405 647405 002404 397403 734402 265400 599399 578399 310398 729Domestic final demand

98 06099 516101 295103 163104 233104 559105 093106 271107 562Total gross fixed capital formation

17 14517 01217 11817 36917 38817 29017 44918 06418 523Total public gross fixed capital formation

12 28212 12012 11312 24512 29812 25712 35612 72712 843Total general government

8 3648 2138 1258 0918 0308 0578 3028 6678 734State and local

3 9243 9073 9864 1534 2674 2014 0554 0604 108Total national

2 1012 0952 1672 2742 3812 4062 3602 2832 169National–non-defence1 8341 8101 8171 8781 8851 7941 6931 7751 939National–defence

General government

4 8624 8895 0025 1245 0915 0335 0955 3405 681Total public corporations

3 4613 5973 7843 9023 8603 8103 8874 1284 392State and local1 4111 2941 2201 2221 2311 2231 2071 2101 287Commonwealth

Public corporationsPublic gross fixed capital formation

80 96482 52284 19185 80186 84787 27787 65788 21789 042Total private gross fixed capital formation

9 1589 1299 1489 2529 3839 4299 3979 3309 303Total intellectual property products

553544536528521513505497490Artistic originals3 4153 3483 2833 2213 1613 1033 0462 9892 929Computer software

8418849831 1611 3591 4801 5221 5221 562Mineral and petroleum exploration4 3634 3514 3444 3424 3414 3354 3274 3244 321Research and development

Intellectual property products808806799784758742760809856Cultivated biological resources

16 94816 98717 16717 62118 34818 78418 71018 33318 052Total machinery and equipment

18 48918 49418 66019 10919 86720 30820 20719 76819 426NewMachinery and equipment

25 36227 16629 00830 48131 35232 04633 00134 20935 600Total non-dwelling construction

14 73216 26217 84619 36220 63121 76823 00124 37725 850New engineering construction11 06311 33511 55911 65511 56211 39311 17811 02110 908New building

Non-dwelling construction6 1746 2086 2466 2306 0985 9815 9906 0516 038Ownership transfer costs

22 64722 22121 81021 43320 90820 29519 80119 48919 196Total dwellings

7 6717 6667 6667 6237 4627 2717 2087 2947 369Alterations and additions14 97614 55514 14513 81113 44613 02412 59312 19411 827New and used dwellings

DwellingsPrivate gross fixed capital formation

307 409305 210302 873300 445298 097295 896293 933292 306291 016Total final consumption expenditure

233 148231 416229 611227 832226 221224 750223 238221 681220 279Households


44 19244 07343 88243 63943 32442 88742 45842 20742 098State and local29 99229 72629 39128 97428 55128 25928 23828 42328 643Total national23 65223 48823 34923 18322 93722 68822 56822 73223 111National–non-defence

6 3506 2376 0405 7915 6145 5715 6715 6935 533National–defenceGeneral government


$m$m$m$m$m$m$m$m$m

MarDecSepJunMarDecSepJunMar

2015–162014–152013–14

EXPENDITURE ON GDP, Cha in volume measures(a) : Trend4


(b) Change on preceding quarter, except for the last column which showsthe change between the current quarter and the corresponding quarterof the previous year.

— nil or rounded to zero (including null cells)(a) Reference year for chain volume measures is 2013–14.

3.20.90.90.80.60.60.50.50.6Gross domestic product

–1.0–0.5–0.7–0.40.50.50.4–0.1–0.1Imports of goods and services7.62.52.51.60.71.21.72.01.6Exports of goods and services

1.00.20.20.20.40.30.20.10.4Gross national expenditure

0.80.20.10.20.40.40.30.10.1Domestic final demand

–5.9–1.5–1.8–1.8–1.0–0.3–0.5–1.1–1.2Total gross fixed capital formation

–1.40.8–0.6–1.4–0.10.6–0.9–3.4–2.5

Total public gross fixed capital

formation

–0.11.30.1–1.1–0.40.3–0.8–2.9–0.9Total general government

4.21.81.10.40.8–0.3–3.0–4.2–0.8State and local

–8.00.4–2.0–4.0–2.71.63.6–0.1–1.2Total national

–11.70.3–3.3–4.7–4.5–1.11.93.45.2National–non-defence–2.71.3–0.4–3.2–0.45.16.0–4.6–8.5National–defence

General government

–4.5–0.5–2.3–2.40.61.2–1.2–4.6–6.0Total public corporations

–10.3–3.8–4.9–3.01.11.3–2.0–5.9–6.0State and local14.69.06.1–0.2–0.70.71.3–0.2–6.0Commonwealth


–6.8–1.9–2.0–1.9–1.2–0.5–0.4–0.6–0.9

Total private gross fixed capital

formation

–2.40.3–0.2–1.1–1.4–0.50.30.70.3Total intellectual property products6.21.61.61.41.41.61.61.61.4Artistic originals8.02.02.01.91.91.91.91.92.0Computer software

–38.1–4.9–10.0–15.3–14.6–8.1–2.8—–2.6Mineral and petroleum exploration0.50.30.2——0.20.20.10.1Research and development

Intellectual property products6.60.20.91.93.52.1–2.4–6.0–5.5Cultivated biological resources

–7.6–0.2–1.1–2.6–4.0–2.30.42.11.6Total machinery and equipment

–6.9—–0.9–2.3–3.8–2.20.52.21.8NewMachinery and equipment

–19.1–6.6–6.4–4.8–2.8–2.2–2.9–3.5–3.9Total non-dwelling construction

–28.6–9.4–8.9–7.8–6.1–5.2–5.4–5.6–5.7New engineering construction–4.3–2.4–1.9–0.80.81.51.91.41.0New building

Non-dwelling construction1.2–0.6–0.60.32.22.0–0.1–1.00.2Ownership transfer costs

8.31.91.91.82.53.02.51.61.5Total dwellings

2.80.1—0.62.12.60.9–1.2–1.0Alterations and additions11.42.92.92.42.73.23.43.33.1New and used dwellings


3.10.70.80.80.80.70.70.60.4Total final consumption expenditure

3.10.70.80.80.70.70.70.70.6Households

3.20.60.70.91.01.00.60.1–0.2Total general government

2.00.30.40.60.71.01.00.60.3State and local5.00.91.11.41.51.00.1–0.7–0.8Total national3.10.70.60.71.11.10.5–0.7–1.6National–non-defence

13.11.83.34.33.20.8–1.8–0.42.9National–defenceGeneral government



Mar 15 to

Mar 16

2015–162014–152013–14

EXPENDITURE ON GDP, Cha in Volume Measures (a ) —Percentage Changes(b) : Trend5




9171 8782 0851 57017–650–770858–942Statistical discrepancy (E)84 11384 79784 40985 88385 86483 05584 47485 41083 068less Imports of goods and services96 72492 67792 26787 64190 74487 90186 48284 19384 353Exports of goods and services


651522–74037588–1 2531 7361 458–1 611Changes in inventories



17 58717 46616 51518 17617 51217 52317 62117 46019 106


formation


8 5848 1028 0098 4118 1648 4158 5999 2039 580State and local

4 1233 9233 5264 6974 0274 2354 0944 0094 011Total national


General government




80 88182 67083 81986 14286 94387 34687 32789 93089 502


formation

9 1999 0999 1499 1649 4629 4899 3069 8259 341Total intellectual property products555544536528522513504497490Artistic originals

3 4213 3463 2773 2263 1603 1013 0442 9952 926Computer software8498631 0031 0571 4391 5431 4312 0131 599Mineral and petroleum exploration

4 3734 3464 3334 3534 3414 3324 3274 3244 321Research and developmentIntellectual property products

805796820774759753729820869Cultivated biological resources


–1 610–1 478–1 420–1 601–1 463–1 461–1 654–1 320–1 397Net purchases of second hand

assets

18 55418 74418 13119 29919 81720 37920 55419 31519 753NewMachinery and equipment


–665–403–285–499–874–1 207–1 103–3–917Net purchases of second hand

assets

14 87915 89618 01519 62920 30621 97622 85124 40925 595New engineering construction10 82011 62111 42111 66711 70911 24711 22410 99610 948New building


22 63522 31621 70321 37221 15120 27319 46319 70619 347Total dwellings




233 040231 494229 750227 599226 203224 916223 184221 683220 135Households





$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

EXPENDITURE ON GDP, Cha in Volume Measures(a) : Seasona l l y ad jus ted6


(b) Change on preceding quarter, except for the last column which showsthe change between the current quarter and the corresponding quarterof the previous year.



–2.0–0.80.5–1.7—3.4–1.7–1.12.8Imports of goods and services6.64.40.45.3–3.43.21.62.7–0.2Exports of goods and services

1.00.20.8–0.60.70.7–0.2—0.6Gross national expenditure

0.90.10.5–0.30.60.30.5–0.1–0.1Domestic final demand

–5.7–1.7–0.2–3.8–0.1–0.4–0.1–2.3–1.1Total gross fixed capital formation

0.40.75.8–9.13.8–0.1–0.60.9–8.6


formation

4.25.74.2–12.07.5–3.6–0.3–3.9–2.9Total general government

5.15.91.2–4.83.0–3.0–2.1–6.6–3.9State and local

2.45.111.2–24.916.6–4.93.42.1–0.1Total national

–5.28.6–1.2–16.25.4–0.3–7.113.72.2National–non-defence12.81.428.5–34.431.9–10.520.2–12.0–2.7National–defence

General government

–8.3–10.39.3–1.7–4.79.2–1.115.8–22.8Total public corporations

–11.7–5.0–5.3–5.13.42.0–0.932.5–34.0State and local0.7–20.555.010.4–26.033.6–1.9–18.719.0Commonwealth


–7.0–2.2–1.4–2.7–0.9–0.5—–2.90.5


formation

–2.81.1–0.5–0.2–3.1–0.32.0–5.35.2Total intellectual property products6.32.01.51.41.31.71.71.41.4Artistic originals8.32.22.11.62.11.91.91.62.3Computer software

–41.0–1.6–13.9–5.2–26.5–6.77.8–28.925.9Mineral and petroleum exploration0.70.60.3–0.40.30.20.10.10.1Research and development

Intellectual property products6.01.1–2.95.92.00.93.3–11.2–5.6Cultivated biological resources

–7.7–1.93.3–5.6–3.6–3.00.15.0–2.0Total machinery and equipment

–6.4–1.03.4–6.1–2.6–2.8–0.86.4–2.2NewMachinery and equipment


–26.7–6.4–11.8–8.2–3.3–7.6–3.8–6.4–4.6New engineering construction–7.6–6.91.8–2.1–0.44.10.22.10.4New building

Non-dwelling construction3.13.1–3.3–0.84.33.0–1.0–3.43.4Ownership transfer costs

7.01.42.81.51.04.34.2–1.21.9Total dwellings

3.01.2–0.1–1.03.04.10.4–2.0–1.6Alterations and additions9.21.64.43.0—4.56.3–0.84.0New and used dwellings



3.00.70.80.90.60.60.80.70.7Households


2.50.30.7–0.11.70.11.41.2–0.8State and local5.51.80.41.61.61.6–0.8—–1.1Total national3.11.21.0–0.41.32.4–0.8–0.3–0.8National–non-defence

15.13.8–1.910.02.8–1.7–0.90.9–2.2National–defenceGeneral government



Mar 15 to

Mar 16

2015–162014–152013–14

EXPENDITURE ON GDP, Cha in Volume Measures (a ) —Percentage Changes(b) : Seasona l l y

adjus ted7


(b) Contributions to quarterly growth, except for the last column whichshows the contribution to growth between the current quarter andthe corresponding quarter of the previous year.



0.2–0.2–0.10.10.40.2—–0.40.5Statistical discrepancy (E)0.40.2–0.10.4—–0.70.40.2–0.6Imports of goods and services1.51.00.11.1–0.80.70.40.6—Exports of goods and services

1.00.20.8–0.60.70.7–0.2—0.6Gross national expenditure

0.1—0.3–0.30.10.3–0.70.10.7Changes in inventories

0.90.10.5–0.30.60.30.5–0.1–0.1Domestic final demand

–1.5–0.4—–1.0—–0.1—–0.6–0.3Total gross fixed capital formation

——0.2–0.40.2———–0.4Total public gross fixed capital formation

0.10.20.1–0.40.2–0.1—–0.1–0.1Total general government

0.10.1—–0.10.1–0.1—–0.2–0.1State and local———–0.1———0.1—National–non-defence

0.1—0.1–0.20.1—0.1–0.1—National–defenceGeneral government

–0.1–0.10.1—–0.10.1—0.2–0.3Total public corporations

–0.1——————0.2–0.4State and local—–0.10.2—–0.10.1—–0.10.1Commonwealth


–1.5–0.4–0.3–0.6–0.2–0.1—–0.70.1


formation

–1.9–0.6–0.4–0.6–0.3–0.4–0.2–0.5—Private business investment (s/s)

–0.1———–0.1——–0.10.1Total intellectual property products—————————Artistic originals

–0.1———–0.1——–0.10.1Mineral and petroleum exploration0.1————————Computer software—————————Research and development

Intellectual property products—————————Cultivated biological resources

–0.3–0.10.1–0.2–0.2–0.1—0.2–0.1Total machinery and equipment

———————–0.1—Net purchases of second hand

assets

–0.3—0.1–0.3–0.1–0.1—0.3–0.1NewMachinery and equipment


0.1–0.1—0.10.10.1—–0.30.2Net purchases of second hand

assets

–1.3–0.2–0.5–0.4–0.2–0.4–0.2–0.4–0.3New engineering construction–0.2–0.2—–0.1—0.1—0.1—New building

Non-dwelling construction——–0.1—0.1——–0.1—Ownership transfer costs

0.40.10.10.10.10.20.2–0.10.1Total dwellings

0.1———0.10.1———Alterations and additions0.30.10.20.1—0.10.2—0.1New and used dwellings



1.70.40.40.50.30.30.40.40.4Households


0.3—0.1—0.2—0.10.1–0.1State and local0.20.10.1—0.10.1———National–Non-defence0.20.1—0.1—————National–defence

General governmentFinal consumption expenditure

% pts% pts% pts% pts% pts% pts% pts% pts% pts


Mar 15 to

Mar 16

2015–162014–152013–14

EXPENDITURE ON GDP, Cha in volume measures (a ) —Contr ibu t ions to Growth(b) :

Seasona l l y Ad jus ted8



9001 8552 0671 55817–647–765856–946Statistical discrepancy (E)85 52588 92788 87387 79787 08083 55383 49284 75284 736less Imports of goods and services77 41177 98980 58776 42481 81380 88579 44880 32686 734Exports of goods and services


394685–394151112–8711 7431 267–1 866Changes in inventories





8 6598 2288 1008 4938 1878 4078 6209 1949 546State and local

4 3894 2023 7054 9794 1394 2724 0833 9703 996Total national


General government





8 8728 8588 9578 9789 2779 3789 2449 7989 338Total intellectual property products570559549540530520511501492Artistic originals

3 1013 0763 0523 0283 0042 9802 9572 9352 912Computer software7868189641 0321 3761 5221 4302 0251 608Mineral and petroleum exploration


993953935834789780765817850Cultivated biological resources


–1 696–1 571–1 513–1 673–1 496–1 465–1 652–1 322–1 410Net purchases of second hand assets19 53319 91419 31120 16520 26420 44620 54019 37419 994New



–697–443–314–523–897–1 231–1 10712–919Net purchases of second hand assets15 07616 21418 28019 85620 55422 28723 11224 62325 677New engineering construction11 30312 08911 78612 01012 01911 46911 42711 07810 937New building


24 22123 84823 09822 51722 05520 93619 92219 93519 398Total dwellings




239 709238 394235 671233 011229 980227 994225 237223 557220 896Households





$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

EXPENDITURE ON GDP, Cur ren t pr i ces : Seasona l l y ad jus ted9


(a) Chain price indexes are annually reweighted Laspeyres indexes with reference year 2013–14 = 100.0.


102.5105.4105.4102.8101.6100.799.099.4102.1Imports of goods and services81.684.988.788.892.193.193.096.1102.8Exports of goods and services


103.7104.1103.9103.0102.3101.6101.2100.6100.3Total gross fixed capital formation

102.6103.1102.9102.2101.4100.6100.4100.4100.2Total public gross fixed capital formation

103.1103.7103.3102.6101.8100.6100.6100.3100.3Total general government

101.5102.2101.9101.5100.9100.4100.9100.5100.2State and local

106.6107.0106.4105.0103.5101.199.999.9100.5Total national

100.2100.8100.9100.7100.299.8100.1100.0100.0National–non-defence113.7114.1112.6109.9107.3102.599.799.7101.2National–defence

General government

101.6101.8102.0101.4100.6100.5100.1100.5100.1Total public corporations

101.4101.6102.0101.3100.4100.5100.0100.5100.1State and local102.0102.4102.2101.7101.3100.6100.3100.2100.4Commonwealth


104.0104.4104.2103.2102.5101.8101.3100.6100.4Total private gross fixed capital formation

96.397.397.998.198.098.999.499.7100.0Total intellectual property products102.8103.0102.6102.2101.6101.4101.2100.8100.3Artistic originals

90.691.993.193.995.096.197.198.099.5Computer software92.694.996.297.795.798.7100.0100.5100.5Mineral and petroleum exploration

101.0101.3101.3100.6100.6100.6100.5100.3100.1Research and developmentIntellectual property products

114.6114.7114.7110.6110.4110.5110.5100.2100.1Cultivated biological resources105.5106.4106.6104.6102.3100.399.8100.1101.0Machinery and equipment

102.2102.6102.0101.7101.7101.5101.4100.8100.2Total non-dwelling construction

101.5102.1101.6101.3101.3101.4101.2100.9100.3New engineering construction104.0103.7103.1102.8102.6101.9101.8100.799.9New building

Non-dwelling construction114.3111.8113.3106.5110.1109.2103.097.598.7Ownership transfer costs

106.9106.8106.3105.2104.2103.1102.2101.1100.2Total dwellings

107.8107.8107.3106.1104.8103.6102.5101.1100.2Alterations and additions106.3106.2105.6104.6103.8102.8102.1101.0100.1New and used dwellings



103.3103.3103.0102.4102.0101.5101.1100.7100.5Households


102.2103.8102.5105.9100.0101.899.6102.098.9State and local101.6101.8101.2101.499.199.199.7100.698.6Total national100.5101.0100.4100.998.298.399.2100.598.2National–non-defence105.6105.2104.6103.5103.1102.6101.9100.9100.3National–defence


indexindexindexindexindexindexindexindexindex


2015–162014–152013–14

EXPENDITURE ON GDP, Cha in pr i ce indexes(a) : Or ig ina l10


(b) Change on preceding quarter, except for the last column whichshows the change between the current quarter and thecorresponding quarter of the previous year.

— nil or rounded to zero (including null cells)(a) Chain price indexes are annually reweighted Laspeyres indexes with

reference year 2013–14 = 100.0.

–1.7–0.4–0.7–0.2–0.50.10.1–0.2–0.5Gross domestic product

0.9–2.7—2.51.20.91.7–0.5–2.6Imports of goods and services–11.4–3.9–4.3–0.1–3.6–1.00.1–3.3–6.5Exports of goods and services

1.4–0.20.30.50.70.50.40.30.3Domestic final demand

1.4–0.40.20.90.70.70.40.60.2Total gross fixed capital formation

1.2–0.50.20.70.80.80.1—0.1Total public gross fixed capital formation

1.3–0.60.40.70.81.2—0.3—Total general government

0.5–0.70.30.40.50.6–0.50.40.3State and local

2.9–0.40.61.41.42.51.2—–0.6Total national

—–0.6–0.20.30.50.4–0.30.1—National–non-defence5.9–0.31.32.42.44.72.8–0.1–1.5National–defence

General government

0.9–0.2–0.30.70.80.10.4–0.40.4Total public corporations

1.0–0.2–0.40.70.9—0.5–0.60.5State and local0.8–0.30.20.50.40.70.30.1–0.2Commonwealth


1.4–0.40.20.90.70.70.50.70.3Total private gross fixed capital formation

–1.7–1.0–0.6–0.1—–0.9–0.5–0.3–0.3Total intellectual property products1.2–0.20.30.40.60.20.20.40.4Artistic originals

–4.6–1.4–1.3–0.8–1.3–1.1–1.1–0.9–1.5Computer software–3.3–2.4–1.4–1.52.1–3.1–1.3–0.5—Mineral and petroleum exploration0.4–0.3—0.7—0.10.10.10.2Research and development

Intellectual property products3.8–0.1—3.70.1——10.30.1Cultivated biological resources3.1–0.9–0.21.92.22.00.5–0.3–0.8Machinery and equipment

0.5–0.40.50.3—0.10.20.50.6Total non-dwelling construction

0.2–0.60.50.3—–0.10.20.30.6New engineering construction1.40.30.60.30.20.70.11.00.8New building

Non-dwelling construction3.92.2–1.36.4–3.20.86.05.6–1.2Ownership transfer costs

2.60.10.51.01.01.00.91.20.9Total dwellings

2.9—0.41.21.31.11.21.30.9Alterations and additions2.50.10.50.90.80.90.71.00.9New and used dwellings


1.3–0.10.40.30.70.40.40.20.3Total final consumption expenditure

1.3–0.10.40.60.40.50.30.40.1Households

2.3–1.11.0–2.14.5–1.11.1–1.82.7Total general government

2.2–1.61.3–3.35.9–1.82.3–2.43.1State and local2.4–0.30.6–0.22.3—–0.6–0.92.0Total national2.3–0.50.7–0.52.7–0.1–0.9–1.42.3National–non-defence2.40.40.61.10.40.50.61.00.6National–defence



Mar 15 to

Mar 16

2015–162014–152013–14

EXPENDITURE ON GDP, Cha in pr ice indexes(a ) —Percentage changes(b) : Or ig ina l11


(a) Reference year for implicit price deflators is 2013–14.


101.7104.9105.3102.2101.4100.698.899.2102.0Imports of goods and services80.084.287.387.290.292.091.995.4102.8Exports of goods and services

103.2103.4103.1102.5101.7101.4100.8100.6100.2Gross national expenditure


104.4104.6104.3103.1102.4101.7101.0100.4100.2Total gross fixed capital formation

102.3102.8102.2102.4100.9100.3100.099.999.8Total public gross fixed capital formation


100.9101.5101.1101.0100.399.9100.299.999.6State and local

106.5107.1105.1106.0102.8100.999.799.099.6Total national

99.8100.6100.6101.0100.099.9100.199.599.3National–non-defence114.1114.0111.4111.4106.5102.199.298.6100.0National–defence

General government

101.2101.6101.7101.4100.5100.499.9100.4100.2Total public corporations

100.9101.2101.6101.3100.3100.499.9100.6100.1State and local101.9102.5102.0101.6101.1100.2100.0100.3100.4Commonwealth


104.9105.0104.7103.2102.7102.0101.2100.4100.3Total private gross fixed capital formation

96.497.397.998.098.098.899.399.7100.0Total intellectual property products102.8102.9102.6102.1101.5101.4101.2100.8100.4Artistic originals

90.691.993.193.995.096.197.198.099.5Computer software92.494.896.197.695.698.6100.0100.6100.6Mineral and petroleum exploration

101.0101.3101.3100.6100.6100.5100.4100.3100.1Research and developmentIntellectual property products

123.4119.6114.0107.7103.9103.7105.099.697.9Cultivated biological resources105.3106.2106.5104.5102.3100.399.9100.3101.2Machinery and equipment

102.6102.8102.1101.8101.7101.6101.4100.8100.2Total non-dwelling construction

101.3102.0101.5101.2101.2101.4101.1100.9100.3New engineering construction104.5104.0103.2102.9102.7102.0101.8100.799.9New building

Non-dwelling construction114.8113.2114.5106.7110.4109.5103.397.598.5Ownership transfer costs

107.0106.9106.4105.4104.3103.3102.4101.2100.3Total dwellings

107.8107.8107.5106.3104.9103.8102.6101.2100.3Alterations and additions106.6106.4105.9104.8103.9103.0102.2101.1100.2New and used dwellings



102.9103.0102.6102.4101.7101.4100.9100.8100.3Households


103.9103.5103.8103.3101.6101.6100.999.6100.6State and local102.4101.7101.0100.799.999.099.5100.099.4Total national101.5100.8100.0100.099.198.298.999.899.2National–non-defence105.6105.0104.7103.7103.1102.4101.9100.8100.0National–defence


IndexIndexIndexIndexIndexIndexIndexIndexIndex


2015–162014–152013–14

EXPENDITURE ON GDP, Imp l i c i t pr i ce def la to rs (a ) : Seasona l l y ad jus ted12


(b) Change on preceding quarter, except for the last column whichshows the change between the current quarter and thecorresponding quarter of the previous year.

— nil or rounded to zero (including null cells)(a) Reference year for implicit price deflators is 2013–14.

–1.0–0.6–0.4–0.1—–0.30.2–0.4–0.7Gross domestic product

0.3–3.0–0.43.00.80.81.8–0.4–2.7Imports of goods and services–11.2–4.9–3.70.2–3.3–2.00.2–3.7–7.2Exports of goods and services

1.5–0.10.30.60.70.30.60.30.3Gross national expenditure

1.5—0.30.50.80.40.50.30.3Domestic final demand

2.0–0.20.31.10.70.70.60.70.2Total gross fixed capital formation

1.3–0.50.7–0.21.40.70.20.20.1Total public gross fixed capital formation

1.6–0.71.0–0.41.70.90.10.40.1Total general government

0.6–0.70.40.20.70.4–0.30.30.3State and local

3.6–0.61.9–0.93.11.91.10.7–0.6Total national

–0.3–0.90.1–0.41.00.2–0.20.60.2National–non-defence7.20.12.4–0.14.64.32.90.6–1.5National–defence

General government

0.7–0.4–0.10.40.80.10.4–0.50.2Total public corporations

0.6–0.3–0.40.31.0–0.10.5–0.60.4State and local0.8–0.60.40.40.50.90.2–0.3–0.1Commonwealth


2.1–0.10.21.40.50.70.70.80.2Total private gross fixed capital formation

–1.6–0.9–0.6–0.1–0.1–0.8–0.5–0.4–0.2Total intellectual property products1.2–0.20.30.40.60.20.10.40.5Artistic originals

–4.6–1.4–1.3–0.8–1.3–1.1–1.1–0.9–1.5Computer software–3.3–2.4–1.4–1.52.1–3.1–1.3–0.6—Mineral and petroleum exploration0.4–0.3—0.7—0.10.10.20.2Research and development

Intellectual property products18.73.15.05.83.60.3–1.35.41.7Cultivated biological resources

3.0–0.9–0.31.92.21.90.4–0.4–0.9Machinery and equipment

0.9–0.20.70.30.10.10.20.60.6Total non-dwelling construction

0.1–0.70.50.3–0.1–0.20.30.30.6New engineering construction1.80.40.80.20.30.70.21.00.9New building

Non-dwelling construction4.01.4–1.17.2–3.30.86.05.9–1.0Ownership transfer costs

2.60.10.41.01.01.00.91.20.9Total dwellings

2.8—0.31.11.31.11.21.30.9Alterations and additions2.60.20.51.00.90.90.71.10.9New and used dwellings


1.4—0.30.20.80.30.40.20.3Total final consumption expenditure

1.2–0.10.40.20.70.30.40.10.5Households


2.20.3–0.30.51.6—0.71.3–0.9State and local2.50.60.70.30.80.9–0.5–0.50.7Total national2.40.60.8—0.91.0–0.7–0.90.6National–non-defence2.40.50.31.00.60.70.51.10.8National–defence



Mar 15 to

Mar 16

2015–162014–152013–14

EXPENDITURE ON GDP, Imp l i c i t pr i ce def la to rs (a ) —Percentage changes(b) : Seasona l l y

adjus ted13


(c) Includes water transport.(d) Excludes ownership of dwellings.

(a) At basic prices.(b) Reference year for chain volume measures is 2013–14.


73137222–207–15165284326171Statistical discrepancy (P)26 61826 41226 20126 08226 20426 43426 56826 53526 385Taxes less subsidies on products

392 341389 106386 106383 315380 522377 695375 265373 213371 184Gross value added at basic prices

35 93335 73435 53135 32835 12534 91834 70634 49434 290Ownership of dwellings..7 3807 4227 4697 4687 4237 3877 3237 2337 174Other servicesS3 3503 3063 2523 2103 2013 1953 1693 1173 087Arts and recreation servicesR

27 15227 04226 87326 64126 34426 04425 80125 55525 257Health care and social assistanceQ19 43919 32219 19619 06918 94318 82418 71518 61118 507Education and trainingP23 04522 68522 31822 00621 68121 31521 00920 85320 786Public administration and safetyO10 37910 52210 66010 75810 75910 72710 74710 80310 796Administrative and support servicesN23 72923 80623 96324 10224 06023 96424 02024 35724 843Professional, scientific and technical servicesM12 26312 17711 99111 65411 26111 07611 09211 13210 971Rental, hiring and real estate services(d)L37 22236 77436 35235 95135 49434 91434 35933 89833 497Financial and insurance servicesK12 70612 53512 35312 15211 89511 61611 31111 01010 755Information media and telecommunicationsJ

18 65918 73318 78618 75718 63118 46418 35618 42518 675Total

8 3388 4228 4848 4738 3788 2508 1898 2728 487Transport, postal and storage services2 7592 7962 8562 9102 9002 8212 7252 6992 730Rail, pipeline and other transport(c)1 8361 8021 7611 7181 6861 6771 6831 6861 686Air and space transport5 7295 7135 6845 6565 6685 7145 7525 7595 767Road transport

Transport, postal and warehousingI9 7529 7549 7729 7809 7309 6529 5439 3479 091Accommodation and food servicesH

18 67818 53118 37718 22418 06017 88017 72217 62117 551Retail tradeG16 94516 78216 65316 58516 52616 40616 22916 08716 013Wholesale tradeF32 31432 21632 01531 74831 46331 36931 54031 74231 678ConstructionE

11 26311 20111 12511 04910 99410 92510 83910 79510 801Total

4 3114 2754 2314 2014 1894 1524 1054 0994 120Water supply and waste services584555527506504504493473455Gas

6 3676 3716 3676 3416 3006 2676 2406 2256 228ElectricityElectricity, gas, water and waste servicesD

24 28624 46824 70024 93425 06325 15525 22025 29825 408Total

4 6624 6584 6674 6984 7554 7864 8024 8244 901Machinery and equipment3 6093 7113 8373 9343 9623 9733 9763 9944 066Metal products1 5991 6231 6471 6561 6411 6141 5851 5611 523Non-metallic mineral products4 2414 3244 3904 4324 4584 4994 5634 5874 579

Petroleum, coal, chemical and rubberproducts

727731739759778780772785822Printing and recorded media1 7401 7151 7031 7071 6991 6811 6651 6531 615Wood and paper products1 2921 2781 2701 2491 2251 2171 1951 1921 218Textile, clothing and other manufacturing6 4416 4266 4456 4986 5446 6046 6686 7156 692Food, beverage and tobacco products

ManufacturingC

38 45737 08735 80734 92934 77334 72534 52933 88533 095Total

1 7961 8081 8681 9852 1232 2422 3772 5312 641Exploration and mining support services36 66435 27933 93832 94432 64932 48332 15831 36630 464

Mining excluding exploration and miningsupport services

3 6823 6213 5623 5243 5333 5483 5713 5503 557Other mining18 97018 19917 51116 97816 67116 47916 22415 65014 869Iron ore mining

9 3358 7978 2407 8357 7717 8487 9007 8017 628Oil and gas extraction4 7204 6604 6214 6064 6384 6494 6434 5964 493Coal mining

MiningB

9 1699 0178 9308 9709 1199 1098 9298 8368 895Total

1 4031 3961 3821 3631 3561 3491 3251 2881 259Forestry and fishing7 7017 6207 5517 6077 7637 7617 6057 5497 636Agriculture

Agriculture, forestry and fishingA

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

INDUSTRY GROSS VALUE ADDED (a) , Cha in Volume Measures (b ) : Trend14


(c) Change on preceding quarter, except for the last column which shows thechange between the current quarter and the corresponding quarter of theprevious year.

(d) Includes water transport.

— nil or rounded to zero (including null cells)(a) At basic prices.(b) Reference year for chain volume measures is 2013–14.


1.60.80.80.5–0.5–0.9–0.50.10.6Taxes less subsidies on products

3.10.80.80.70.70.70.60.50.5Gross value added at basic prices

2.30.60.60.60.60.60.60.60.6Ownership of dwellings..–0.6–0.6–0.6—0.60.50.91.20.8Other servicesS4.71.31.61.30.30.20.81.71.0Arts and recreation servicesR3.10.40.60.91.11.20.91.01.2Health care and social assistanceQ2.60.60.70.70.70.60.60.60.6Education and trainingP6.31.61.61.41.51.71.50.70.3Public administration and safetyO

–3.5–1.4–1.3–0.9—0.3–0.2–0.50.1Administrative and support servicesN–1.4–0.3–0.7–0.60.20.4–0.2–1.4–2.0Professional, scientific and technical servicesM8.90.71.52.93.51.7–0.1–0.41.5Rental, hiring and real estate services(b)L4.91.21.21.11.31.71.61.41.2Financial and insurance servicesK6.81.41.51.72.22.42.72.72.4Information media and telecommunicationsJ

0.1–0.4–0.30.20.70.90.6–0.4–1.3Total

–0.5–1.0–0.70.11.11.60.7–1.0–2.5Transport, postal and storage services–4.9–1.3–2.1–1.80.42.83.51.0–1.1Rail, pipeline and other transport(d)8.91.92.32.51.90.5–0.4–0.2—Air and space transport1.10.30.50.5–0.2–0.8–0.7–0.1–0.1Road transport

Transport, postal and warehousingI0.2—–0.2–0.10.50.81.12.12.8Accommodation and food servicesH3.40.80.80.80.91.00.90.60.4Retail tradeG2.51.00.80.40.40.71.10.90.5Wholesale tradeF2.70.30.60.80.90.3–0.5–0.60.2ConstructionE

2.40.50.70.70.50.60.80.4–0.1Total

2.90.81.00.70.30.91.20.1–0.5Water supply and waste services15.75.25.34.10.40.12.24.23.9Gas

1.1–0.10.10.40.70.50.40.2–0.1ElectricityElectricity, gas, water and waste servicesD

–3.1–0.7–0.9–0.9–0.5–0.4–0.3–0.3–0.4Total

–2.00.1–0.2–0.7–1.2–0.6–0.3–0.5–1.6Machinery and equipment–8.9–2.7–3.3–2.5–0.7–0.3–0.1–0.5–1.8Metal products–2.5–1.5–1.4–0.61.01.71.81.62.5Non-metallic mineral products–4.9–1.9–1.5–0.9–0.6–0.9–1.4–0.50.2Petroleum, coal, chemical and rubber products–6.6–0.5–1.1–2.6–2.5–0.21.0–1.6–4.5Printing and recorded media2.41.40.7–0.20.41.10.90.82.3Wood and paper products5.41.10.61.72.00.71.80.3–2.1Textile, clothing and other manufacturing

–1.60.2–0.3–0.8–0.7–0.9–1.0–0.70.3Food, beverage and tobacco productsManufacturingC

10.63.73.62.50.40.10.61.92.4Total

–15.4–0.7–3.2–5.9–6.5–5.3–5.7–6.1–4.2Exploration and mining support services12.33.94.03.00.90.51.02.53.0

Mining excluding exploration and mining supportservices

4.21.71.71.1–0.2–0.4–0.60.6–0.2Other mining13.84.23.93.11.81.21.63.75.3Iron ore mining20.16.16.85.20.8–1.0–0.71.32.3Oil and gas extraction

1.81.30.90.3–0.7–0.20.11.02.3Coal miningMiningB

0.61.71.0–0.4–1.60.12.01.0–0.7Total

3.50.51.01.30.60.51.82.92.3Forestry and fishing–0.81.10.9–0.7–2.0—2.10.7–1.1Agriculture



Mar 15 to

Mar 16

2015–162014–152013–14

INDUSTRY GROSS VALUE ADDED (a) , Cha in Volume Measures (b ) —Percentage Changes(c ) :

Trend15



(a) At basic prices.(b) Reference year for chain volume measures is 2013–14.


622451189–63544134184297449Statistical discrepancy (P)26 67826 41826 16626 08326 08626 49826 68126 47726 343Taxes less subsidies on products

392 723388 736386 213383 018381 186377 266375 046373 383371 386Gross value added at basic prices


27 16826 98826 93426 70926 21626 12725 75625 54725 329Health care and social assistanceQ19 44719 32019 19719 06918 94318 82418 71018 61518 507Education and trainingP23 17922 63022 25922 05921 68621 37820 86620 90720 768Public administration and safetyO10 39310 50610 62710 86110 72010 71610 70310 83810 835Administrative and support servicesN23 84323 73123 85224 23524 24723 70124 00024 51624 636Professional, scientific and technical servicesM12 10712 29612 04811 64511 26710 94411 10111 23510 983Rental, hiring and real estate services(d)L37 32736 67036 35235 99735 49634 94334 33633 78733 654Financial and insurance servicesK12 65312 62712 29412 12911 99911 54011 30011 08710 716Information media and telecommunicationsJ

18 65418 71218 78918 85418 58618 41918 46318 28018 636Total

8 3358 4048 4768 5858 3048 2398 2618 1488 506Transport, postal and storage services2 7632 8012 8212 9262 9622 7692 7402 6782 707Rail, pipeline and other transport(c)1 8341 7961 7801 7051 6831 6781 6801 7001 674Air and space transport5 7225 7105 7115 6385 6375 7335 7835 7365 746Road transport

Transport, postal and warehousingI9 8179 6699 7939 8179 7409 5849 5669 4569 013Accommodation and food servicesH

18 68918 54118 35418 24018 06117 89417 70017 59517 590Retail tradeG16 97316 79916 59816 54516 61616 40816 17716 11615 992Wholesale tradeF32 09432 43932 03331 64231 48331 48631 18331 92231 988ConstructionE

11 22411 26211 10711 01411 01710 93810 86510 70010 866Total

4 2954 3244 1904 1984 1914 1914 0944 0224 203Water supply and waste services590551528504496511508454459Gas


24 36624 31424 77124 96125 07225 13025 15425 50325 101Total

4 7044 5744 7474 6444 7474 8324 8164 7544 923Machinery and equipment3 5733 7003 8763 8944 0423 8983 9844 0573 945Metal products1 5941 6241 6341 6931 6161 6171 5861 5641 518Non-metallic mineral products4 1864 2944 4984 3854 3854 6144 4854 5964 643Petroleum, coal, chemical and rubber products

722744725753786802750773835Printing and recorded media1 7491 7371 6591 7121 7451 6521 6311 7041 623Wood and paper products1 2861 3101 2261 2701 2691 1201 2771 1981 120Textile, clothing and other manufacturing6 5536 3316 4056 6106 4846 5976 6246 8696 520Food, beverage and tobacco products

ManufacturingC

38 93536 66136 16334 31835 02934 70834 80833 50833 473Total



3 7603 4763 7063 4513 4963 6093 5773 5153 576Other mining19 25017 89717 67616 82116 75616 36616 28615 88314 664Iron ore mining

9 3198 8708 3447 4567 9467 9037 8907 6737 879Oil and gas extraction4 7684 6224 6284 5794 6804 5884 7364 4934 600Coal mining

MiningB

9 2459 0178 8518 9079 1989 1579 0288 5528 982Total



$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

INDUSTRY GROSS VALUE ADDED (a) , Cha in Volume Measures (b ) : Seasona l l y ad jus ted16


(c) Change on preceding quarter, except for the last column which shows thechange between the current quarter and the corresponding quarter of theprevious year.

(d) Includes water transport.(e) Excludes ownership of dwellings.



2.31.01.00.3—–1.6–0.70.80.5Taxes less subsidies on products

3.01.00.70.80.51.00.60.40.5Gross value added at basic prices

2.30.60.60.60.60.60.60.60.6Ownership of dwellings..–2.4–2.41.3–1.1–0.24.0–3.02.52.7Other servicesS5.20.91.91.80.5–1.61.92.5–0.2Arts and recreation servicesR3.60.70.20.81.90.31.40.80.9Health care and social assistanceQ2.70.70.60.70.70.60.60.50.6Education and trainingP6.92.41.70.91.71.42.5–0.20.7Public administration and safetyO

–3.0–1.1–1.1–2.21.3—0.1–1.2—Administrative and support servicesN–1.70.5–0.5–1.6—2.3–1.2–2.1–0.5Professional, scientific and technical servicesM7.5–1.52.13.53.43.0–1.4–1.22.3Rental, hiring and real estate services(e)L5.21.80.91.01.41.61.81.60.4Financial and insurance servicesK5.50.22.71.41.14.02.11.93.5Information media and telecommunicationsJ

0.4–0.3–0.4–0.31.40.9–0.21.0–1.9Total

0.4–0.8–0.8–1.33.40.8–0.31.4–4.2Transport, postal and storage services–6.7–1.4–0.7–3.6–1.27.01.02.3–1.1Rail, pipeline and other transport(d)9.02.10.94.41.30.2–0.1–1.21.6Air and space transport1.50.2—1.3—–1.7–0.90.8–0.2Road transport

Transport, postal and warehousingI0.81.5–1.3–0.20.81.60.21.24.9Accommodation and food servicesH3.50.81.00.61.00.91.10.6—Retail tradeG2.11.01.20.3–0.41.31.40.40.8Wholesale tradeF1.9–1.11.31.20.5—1.0–2.3–0.2ConstructionE

1.9–0.31.40.8—0.70.71.5–1.5Total

2.5–0.73.2–0.20.2—2.41.8–4.3Water supply and waste services19.07.04.44.71.6–3.00.512.0–1.1Gas

0.1–0.7—1.2–0.31.5–0.40.70.1ElectricityElectricity, gas, water and waste servicesD

–2.80.2–1.8–0.8–0.4–0.2–0.1–1.41.6Total

–0.92.9–3.72.2–2.2–1.80.31.3–3.4Machinery and equipment–11.6–3.4–4.5–0.5–3.73.7–2.2–1.82.8Metal products

–1.3–1.8–0.6–3.54.8–0.12.01.43.1Non-metallic mineral products–4.5–2.5–4.52.6—–5.02.9–2.4–1.0Petroleum, coal, chemical and rubber products–8.2–3.02.6–3.6–4.2–2.06.9–3.1–7.4Printing and recorded media0.30.74.7–3.1–1.95.61.3–4.35.0Wood and paper products1.3–1.96.8–3.50.113.3–12.36.67.0Textile, clothing and other manufacturing1.13.5–1.1–3.11.9–1.7–0.4–3.65.3Food, beverage and tobacco products

ManufacturingC

11.26.21.45.4–2.00.9–0.33.90.1Total

–14.52.4–0.7–10.1–6.5–4.1–3.3–9.3–4.5Exploration and mining support services12.86.41.56.3–1.71.3–0.14.90.5


7.58.2–6.27.4–1.3–3.10.91.7–1.7Other mining14.97.61.25.10.42.40.52.58.3Iron ore mining17.35.16.311.9–6.20.50.22.8–2.6Oil and gas extraction

1.93.1–0.11.1–2.22.0–3.15.4–2.3Coal miningMiningB

0.52.51.9–0.6–3.20.41.45.6–4.8Total

3.60.1—3.40.1–0.2–0.17.4—Forestry and fishing—3.02.2–1.4–3.70.51.75.2–5.5Agriculture



Mar 15 to

Mar 16

2015–162014–152013–14

INDUSTRY GROSS VALUE ADDED (a) , Cha in Volume Measures (b ) —Percentage Changes(c ) :

Seasona l l y ad jus ted17


(b) Change on preceding quarter, except for the last column which shows thechange between the current quarter and the corresponding quarter of theprevious year.

. . not applicable— nil or rounded to zero (including null cells)(a) Includes contributions to superannuation made by employers and payments of

workers' compensation premiums.


5.40.91.11.42.01.40.2–0.4—Taxes less subsidies on production and imports

2.40.40.50.70.70.60.40.10.3Total factor income

5.30.30.61.33.03.83.11.70.8Gross mixed income

0.30.10.10.10.1—–0.3–0.7–0.3Total gross operating surplus

3.90.80.91.01.11.21.41.41.3Dwellings owned by persons5.11.21.21.21.21.21.11.11.1General government

–1.4–0.3–0.3–0.4–0.3–0.5–0.9–1.5–0.9Total corporations

4.91.21.41.31.01.01.31.51.5Financial corporations

–3.2–0.8–0.9–0.9–0.7–1.0–1.6–2.3–1.6Total non-financial corporations

–6.1–0.6–1.7–2.4–1.61.63.12.41.9Public non-financial corporations–3.0–0.8–0.8–0.8–0.7–1.1–1.9–2.6–1.8Private non-financial corporations

Non-financial corporationsGross operating surplus

3.30.70.80.90.80.50.30.50.7Total compensation of employees

3.30.80.90.90.70.40.31.50.7Employers' social contributions(a)3.30.70.80.90.80.50.30.40.7Wages and salaries

Compensation of employees

PE R C E N T A G E CH A N G E S (b) (% )

. .412 624410 526408 325406 103403 797401 578400 182399 655Gross domestic product

. .–2 332–2 405–2 153–1 425–305188128–11Statistical discrepancy (I)

. .42 50242 14341 69441 12740 33839 77439 70839 852Taxes less subsidies on production and imports

. .372 433370 790368 786366 401363 764361 616360 346359 814Total factor income

. .35 02334 92434 72434 27333 27632 06131 10330 573Gross mixed income

. .135 146135 053134 933134 841134 701134 701135 057135 951Total gross operating surplus

. .34 04733 76233 44933 11832 76532 37831 93831 489Dwellings owned by persons

. .9 0628 9518 8418 7328 6248 5238 4308 339General government

. .92 03792 34092 64392 99293 31193 80094 69096 122Total corporations

. .22 16221 89221 58821 32221 12020 90120 62720 319Financial corporations

. .69 87570 44871 05571 67072 19172 89874 06375 803Total non-financial corporations

. .4 5334 5624 6414 7544 8294 7534 6104 500Public non-financial corporations

. .65 34265 88766 41466 91667 36268 14569 45271 303Private non-financial corporationsNon-financial corporations

Gross operating surplus

. .202 310200 812199 127197 287195 788194 854194 187193 290Total compensation of employees

. .21 06320 89220 70920 52220 38020 29920 24219 952Employers' social contributions(a)

. .181 248179 919178 419176 765175 395174 556174 005173 278Wages and salariesCompensation of employees

VA L U E S ( $ m )


Mar 15 to

Mar 16

2015–162014–152013–14

INCOME FROM GDP, Cur ren t pr ices : Trend18



. . not applicable— nil or rounded to zero (including null cells)(a) Includes contributions to superannuation made by employers and payments of

workers' compensation premiums.

2.10.50.40.90.30.50.7—–0.2Gross domestic product

4.70.80.42.41.01.91.5–3.11.2Taxes less subsidies on production and imports

2.20.20.41.10.50.60.7–0.10.1Total factor income

5.21.5–1.42.52.64.13.90.51.3Gross mixed income

–0.6–0.90.60.5–0.80.20.6–1.3–0.8Total gross operating surplus

3.80.61.11.01.11.01.51.61.2Dwellings owned by persons5.11.21.21.31.21.21.11.01.2General government

–2.6–1.70.40.3–1.6–0.20.2–2.4–1.6Total corporations

5.40.72.10.81.7–0.52.71.40.7Financial corporations

–5.0–2.5–0.10.1–2.5–0.1–0.5–3.5–2.2Total non-financial corporations

0.14.7–0.7–10.17.2–2.62.27.6–2.7Public non-financial corporations–5.3–2.9–0.10.9–3.20.1–0.7–4.1–2.2Private non-financial corporations

Non-financial corporationsGross operating surplus

3.60.80.61.21.00.20.20.70.6Total compensation of employees

3.50.90.61.20.80.20.31.50.8Employers' social contributions(a)3.60.80.51.21.00.20.20.60.6Wages and salaries



. .412 425410 447408 916405 389404 137402 021399 253399 178Gross domestic product

. .–1 834–2 623–2 575–1 245–326347561–982Statistical discrepancy (I)

. .42 42642 09641 93840 93840 52539 75739 15040 397Taxes less subsidies on production and imports

. .371 833370 974369 552365 696363 938361 917359 541359 763Total factor income

. .35 10934 59635 09434 23533 36732 05830 85030 692Gross mixed income

. .134 445135 734134 920134 212135 232134 959134 174135 940Total gross operating surplus

. .34 00333 81233 44333 10732 75332 41631 94131 452Dwellings owned by persons

. .9 0618 9508 8428 7328 6248 5228 4278 342General government

. .91 38192 97292 63592 37493 85594 02093 80696 145Total corporations

. .22 12821 97121 52821 35320 98921 10220 53920 254Financial corporations

. .69 25371 00171 10771 02172 86672 91873 26775 891Total non-financial corporations

. .4 6784 4684 5015 0074 6724 7974 6944 361Public non-financial corporations

. .64 57566 53366 60666 01468 19468 12068 57271 530Private non-financial corporationsNon-financial corporations


. .202 279200 645199 538197 249195 340194 900194 517193 132Total compensation of employees

. .21 06020 87820 74920 50220 34820 31020 25219 952Employers' social contributions(a)

. .181 219179 767178 789176 747174 991174 590174 265173 180Wages and salariesCompensation of employees

VA L U E S ( $ m )


Mar 15 to

Mar 16

2015–162014–152013–14

INCOME FROM GDP, Cur ren t pr ices : Seasona l l y ad jus ted19



. . not applicable— nil or rounded to zero (including null cells)(a) Reference year for chain volume measures is 2013–14.

3.10.70.80.80.70.70.70.70.6Total

2.80.50.70.80.80.60.40.50.7Other goods and services4.51.11.01.01.41.92.11.81.1Insurance and other financial services0.10.60.3–0.2–0.6–0.40.31.42.3Hotels, cafes and restaurants1.50.30.40.40.40.30.20.20.3Education services4.81.31.41.30.70.40.91.31.3Recreation and culture5.21.11.31.51.20.91.11.72.4Communications2.11.30.90.2–0.30.30.90.1–1.8Transport services4.30.81.11.31.10.4–0.2–0.4–0.3Operation of vehicles

–0.4–1.3–1.2–0.12.22.61.2–0.2–0.5Purchase of vehicles2.6—0.40.91.41.30.80.81.2Health2.50.40.50.61.01.51.81.81.5Furnishings and household equipment7.92.32.62.10.70.51.00.7–0.3Electricity, gas and other fuel2.30.50.60.60.60.60.60.60.6Rent and other dwelling services6.51.21.51.81.91.71.20.1–0.6Clothing and footwear1.41.10.80.1–0.6–0.40.51.61.5Alcoholic beverages

–10.8–2.9–3.1–2.7–2.6–3.3–3.1–2.8–3.0Cigarettes and tobacco4.61.11.31.30.90.40.10.10.1Food


. .233 148231 416229 611227 832226 221224 750223 238221 681Total

. .14 86614 78814 68714 56414 45514 37114 30814 237Other goods and services

. .21 59521 36821 14920 93720 65820 26919 85019 492Insurance and other financial services

. .15 23315 14215 09715 12515 21115 27815 22815 013Hotels, cafes and restaurants

. .10 17510 14910 11010 06510 0269 9959 9749 952Education services

. .23 25522 96722 63922 35322 19922 11521 91521 630Recreation and culture

. .5 8325 7725 6975 6135 5445 4935 4345 344Communications

. .7 0246 9346 8736 8626 8806 8586 7966 792Transport services

. .12 32112 22612 09411 94011 81411 76511 78411 831Operation of vehicles

. .4 7444 8054 8654 8694 7654 6434 5884 596Purchase of vehicles

. .14 70314 70214 64514 52014 32414 13414 01613 909Health

. .9 9609 9209 8749 8169 7179 5719 4029 239Furnishings and household equipment

. .6 2946 1515 9945 8715 8335 8065 7475 708Electricity, gas and other fuel

. .49 08748 82048 54948 27848 00647 73347 45747 179Rent and other dwelling services

. .7 7787 6897 5757 4417 3037 1817 0977 086Clothing and footwear

. .3 8973 8543 8233 8203 8433 8573 8363 778Alcoholic beverages

. .3 1663 2603 3643 4593 5523 6743 7923 903Cigarettes and tobacco

. .23 11922 87522 58522 29922 09522 00621 99321 977Food

LE V E L S ( $ m )


Mar 15 to

Mar 16

2015–162014–152013–14

HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, Cha in volume measures (a ) : Trend20




3.00.70.80.90.60.60.80.70.7Total

3.00.70.11.40.80.30.31.00.2Other goods and services4.81.60.71.01.41.72.51.90.9Insurance and other financial services

–0.70.11.4–0.4–1.80.9–0.10.73.1Hotels, cafes and restaurants1.50.40.20.80.20.40.20.40.1Education services4.4—2.71.10.6–0.11.31.21.8Recreation and culture5.71.31.11.51.70.9—2.72.4Communications1.52.5–0.21.9–2.71.51.00.4–1.3Transport services4.40.51.01.61.20.2–0.1–0.4–0.3Operation of vehicles

–1.7–0.4–3.21.10.85.6—–1.71.1Purchase of vehicles4.00.7–0.60.63.2–0.51.80.50.7Health2.50.40.50.41.21.41.91.81.2Furnishings and household equipment7.41.83.62.8–1.01.10.13.4–2.4Electricity, gas and other fuel2.30.60.60.50.60.60.60.60.6Rent and other dwelling services6.81.41.12.12.11.51.10.9–0.8Clothing and footwear0.70.81.60.4–2.10.31.00.52.5Alcoholic beverages

–11.3–2.8–5.4–0.5–3.0–3.6–3.3–3.60.5Cigarettes and tobacco4.90.81.41.41.2–0.30.7–0.30.2Food


. .233 040231 494229 750227 599226 203224 916223 184221 683Total

. .14 86314 76314 74514 54214 42514 38414 33414 197Other goods and services

. .21 64921 30421 16320 95120 66120 31219 82419 445Insurance and other financial services

. .15 22615 21615 00615 06515 33415 20415 22415 115Hotels, cafes and restaurants

. .10 18010 14410 12810 04910 0299 9949 9799 942Education services

. .23 15523 15322 54622 30622 17022 20321 91021 645Recreation and culture

. .5 8405 7685 7035 6205 5275 4755 4755 330Communications

. .7 0676 8926 9046 7776 9626 8626 7936 766Transport services

. .12 30512 24212 11811 93111 78911 76811 78211 834Operation of vehicles

. .4 7404 7614 9194 8634 8234 5684 5674 648Purchase of vehicles

. .14 73314 62614 70814 62014 16114 22713 97413 904Health

. .9 9639 9199 8669 8319 7169 5809 3979 229Furnishings and household equipment

. .6 3056 1915 9765 8125 8715 8055 8015 612Electricity, gas and other fuel

. .49 09448 82048 54548 28148 00547 73247 45847 180Rent and other dwelling services

. .7 7867 6797 5987 4417 2907 1857 1097 046Clothing and footwear

. .3 8993 8673 8073 7923 8723 8613 8233 803Alcoholic beverages

. .3 1433 2343 4173 4343 5423 6733 7993 941Cigarettes and tobacco

. .23 09322 91622 60022 28422 02522 08321 93522 011Food

LE V E L S ( $ m )

MarDecSepJunMarDecSepJun Mar 15 to Mar 16

2015–162014–152013–14

HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, Cha in volume measures (a ) : Seasona l l y

adjus ted21



651522–74037588–1 2531 7361 458–1 611Total changes in

inventories

192–63–763–155–10617019762Public authorities–118578–473–101–125174–147–62101Farm

5777–191473368–1 3221 7131 153–1 820Total private non-farm

36–49395–9213724711472304Other non-farm industries141 2612751811 06428174264–70Retail trade

474–593123–108230357326–22888Wholesale trade–154–680–1 077130–345–1 497–49308–2 076Manufacturing2086893363–718–710580912–49Mining

Changes in inventories

SE A S O N A L L Y AD J U S T E D

47020240–220–279265714555–355Total changes in

inventories

7815–46–98–97–279415985Public authorities10265–80–157–974–5629144Farm

28312316035–76280618280–634Total private non-farm

479311612113113418514372Other non-farm industries521556556514557649478162–77Retail trade

95–89–130–224227820933–147Wholesale trade–484–612–534–480–588–522–512–529–746Manufacturing137177166–118–416–261250469271Mining


TR E N D

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

CHANGES IN INVENTORIES, Cha in volume measures (a )22


(a) Includes output produced by the household sector for its own consumption.

9 4929 1469 2338 9099 0548 2368 0717 7577 736Gross agricultural value added at producer prices201198195189188179178177176plus Taxes less subsidies on products

9 2918 9489 0378 7208 8668 0577 8927 5807 560Gross agricultural value added at basic prices

4 3904 0704 1953 8804 0403 2443 0962 7942 813Agricultural income

212217194199191184187187183less Other taxes less subsidies on production4 6894 6624 6484 6414 6354 6294 6104 6004 564

less Compensation of employees, consumption of fixed capital,net property and other income payable


10 98111 02510 71610 51910 29610 22710 32910 50410 474less Intermediate input costs20 27219 97319 75319 23919 16218 28418 22118 08418 034Gross value of agricultural production(a)


9 6429 3159 1089 0368 7958 4108 0217 8057 794Gross agricultural value added at producer prices203199194191186181178177177plus Taxes less subsidies on products


4 5354 2454 0634 0103 7843 4153 0422 8492 874Agricultural income

211209203195190188186186184less Other taxes less subsidies on production4 6924 6634 6484 6404 6344 6274 6154 5934 560

less Compensation of employees, consumption of fixed capital,net property and other income payable


11 01910 91810 75310 50810 31310 26710 34410 45810 470less Intermediate input costs20 45820 03519 66719 35418 92218 49618 18718 08618 088Gross value of agricultural production(a)

TR E N D

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

AGRICULTURAL INCOME, Cur rent pr i ces23


(a) Reference year for chain volume measures is 2013–14.— nil or rounded to zero (including null cells)

1.01.4—1.50.50.90.7–0.12.2State final demand

–1.13.2–6.35.64.01.521.2–31.510.8Public1.64.2–3.62.80.61.6–3.64.45.2Private

Gross fixed capital formation

0.91.01.10.80.30.91.11.10.9Households0.8–0.21.12.10.5——0.11.2General government


SE A S O N A L L Y AD J U S T E D (P E R C E N T A G E CH A N G E S ) (% )

126 631125 435123 667123 717121 840121 199120 135119 252119 397State final demand

5 4355 4955 3235 6805 3785 1715 0934 2046 135Public22 36622 00821 12621 90521 31121 17720 84321 62920 715Private


78 81878 07777 33276 45575 87075 67375 01674 21673 377Households20 01219 85519 88719 67719 28119 17819 18319 17719 153General government


SE A S O N A L L Y AD J U S T E D ( $ m )

0.90.90.90.90.70.50.61.21.0State final demand

–0.4–1.2–0.91.92.60.7–2.0–2.00.1Public1.41.20.60.31.41.61.11.81.6Private


1.01.01.00.70.60.71.01.11.0Households0.30.61.01.30.90.2—0.30.8General government


TR E N D (P E R C E N T A G E CH A N G E S ) (% )


5 3475 3705 4365 4845 3815 2465 2085 3135 419Public22 18821 87721 62421 50021 42721 13920 80220 58520 223Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : New South Wales24


(a) Reference period for chain volume measures is 2013–14.

0.11.40.31.21.71.2–0.70.81.0State final demand

–1.910.8–7.37.35.3–5.1–15.210.61.3Public–0.80.80.11.95.23.4–2.11.33.6Private


0.61.01.20.30.80.70.41.00.3Households–0.21.8–0.82.3–0.11.91.3–3.10.5General government




3 6413 7113 3503 6153 3703 2023 3743 9813 598Public19 32419 48419 32519 30818 93917 99617 41217 78517 563Private





0.60.70.91.31.20.80.40.40.7State final demand

1.41.11.43.20.1–4.3–5.40.24.6Public–0.10.10.82.73.52.31.00.71.0Private


0.90.90.90.80.60.60.70.60.7Households0.30.60.70.81.31.10.1–0.9–0.7General government




3 5863 5363 4993 4513 3453 3403 4903 6903 681Public19 39319 40719 39419 24818 73918 11317 70717 53717 422Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in volume measures (a ) : Vic to r i a25



—–0.3–0.4–1.0–0.4–0.2–2.00.2–1.0State final demand

6.66.1–14.5–0.81.6–7.3–2.31.9–15.1Public–3.6–4.2–1.1–6.5–5.3–2.2–8.0–0.6–1.2Private


0.30.40.60.61.00.90.40.50.6Households1.30.61.30.71.41.10.2–0.4–0.5General government




3 9613 7143 5014 0974 1284 0624 3804 4834 397Public14 94215 49316 17116 34417 48218 45918 87220 52420 657Private





–0.1–0.3–0.6–0.5–0.5–0.8–0.9–0.7–0.3State final demand

2.1–1.3–4.9–3.6–0.6–1.1–3.9–3.1–0.9Public–3.0–3.2–3.5–4.6–5.7–5.3–4.0–3.2–2.0Private


0.40.40.50.80.90.80.60.40.5Households0.91.01.01.11.20.90.2—–0.2General government




3 7563 6783 7263 9164 0624 0874 1344 3014 437Public15 02715 49716 01216 59917 40118 45419 48120 30020 971Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : Queens land26



—0.30.6–0.51.10.30.70.60.1State final demand

1.410.1–7.510.0–6.9–6.5–4.3–9.1–5.0Public–3.9–3.42.1–7.53.61.2–1.88.40.6Private


0.60.90.50.70.80.71.30.10.4Households1.60.41.01.11.4–0.52.3–2.8–0.3General government




9559428569258419039661 0091 111Public4 2444 4174 5724 4754 8374 6714 6144 6974 332Private





0.30.20.20.30.40.60.70.2–0.1State final demand

1.92.21.6–0.7–2.5–5.3–7.5–6.9–3.4Public–1.8–2.5–2.5–1.5–0.41.53.32.10.6Private


0.60.70.70.60.80.90.80.40.1Households0.80.91.00.91.10.7–0.1–0.6–0.9General government




9249078878738799029521 0301 106Public4 3194 3964 5074 6234 6944 7114 6404 4904 399Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : South Aus t ra l i a27



–1.2–1.7–1.50.2–1.1—–0.8–2.80.3State final demand

–2.32.1–9.92.0–3.9–1.1–3.11.2–21.5Public–4.9–5.6–4.3–1.1–3.0–0.8–3.0–6.83.2Private


0.70.20.70.70.30.40.4–0.20.1Households1.40.20.41.5–0.20.91.9–1.00.3General government




1 8031 8461 8082 0061 9662 0452 0682 1342 109Public16 15016 98017 98718 80319 01019 60019 76720 36821 844Private





–1.5–1.4–1.2–0.7–0.2–0.6–1.1–1.3–1.1State final demand

–1.6–3.1–3.9–4.0–0.62.1–1.6–5.2–5.8Public–4.8–4.8–4.0–2.4–1.7–2.8–3.4–3.2–2.4Private


0.40.50.50.50.50.40.10.10.4Households0.50.70.70.50.80.80.60.4–0.2General government




1 7721 8011 8581 9342 0142 0271 9842 0172 128Public16 24217 05917 91618 66319 13119 45220 00820 70221 397Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : Weste rn Aus t ra l i a28



0.10.10.61.30.50.3–0.2–0.20.1State final demand

–2.71.5–3.70.36.2–4.0–18.4–5.5–9.5Public–0.9–3.6–3.95.91.81.65.6–3.31.5Private


0.40.61.51.0—0.50.30.10.8Households0.40.82.2–0.5–0.1–0.4–0.42.20.1General government




303311307318317299311381403Public9951 0031 0411 0831 0221 004988936967Private





0.10.30.60.90.70.2–0.1–0.20.3State final demand

–0.8–2.0–1.51.70.4–5.6–11.6–10.8–3.2Public–2.5–2.5–1.11.43.43.11.60.5—Private


0.60.91.00.90.50.20.30.40.5Households0.61.01.00.4–0.4–0.40.40.80.8General government




300303309314309307326368413Public9911 0161 0421 0541 0401 005975959955Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : Tasman ia29



–0.3–6.2–7.9–3.4–1.40.411.33.1–8.9State final demand

5.02.812.3–3.8–55.5173.70.8–19.3–3.1Public–4.4–17.6–21.9–8.09.5–12.629.010.8–21.1Private


0.70.5–0.80.6–0.10.8—–0.6—Households1.9–0.85.40.51.1–0.9–1.11.11.7General government




405386375334347780285283351Public2 0062 0982 5443 2603 5433 2363 7022 8692 588Private





–3.9–5.5–5.2–3.5–0.43.13.40.7–0.9State final demand

4.04.36.09.110.83.5–6.1–11.8–10.9Public–13.8–15.8–15.7–13.0–3.98.813.64.8–3.5Private


0.30.2——0.40.40.1–0.3–0.3Households1.21.72.22.00.6–0.7–0.30.71.3General government




399384368347318287278296335Public1 8942 1992 6113 0963 5603 7033 4032 9962 859Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : Nor the rn Ter r i to r y30



1.31.1–1.11.71.5–1.12.0–0.3–1.3State final demand

2.26.7–17.03.29.5–7.115.5–1.21.2Public2.8–1.63.00.9–7.1–4.64.6–1.51.4Private


0.51.20.61.10.51.00.7–0.4–0.6Households1.30.7–0.21.91.9–0.80.7–0.1–2.3General government




1 0861 0629961 2001 1631 0621 1439901 001Public1 0219931 0099809711 0461 0961 0481 065Private





0.60.40.50.60.80.70.2—–0.3State final demand

1.6—–1.3–2.8–1.31.32.84.71.7Public0.81.31.2–1.8–3.5–3.0–0.52.20.7Private


0.70.90.90.90.90.80.4–0.1–0.3Households0.60.60.81.11.10.7–0.1–0.6–0.8General government




1 0531 0361 0351 0491 0801 0941 0801 0511 003Public1 0141 0069939819991 0361 0681 0731 050Private




TR E N D ( $ m )


2015–162014–152013–14

COMPONENTS OF STATE FINAL DEMAND, Cha in Volume Measures (a ) : Aust ra l i an Cap i ta l

Ter r i t o r y31


(a) Net saving is derived as a balancing item.

401 581401 377399 985396 553395 695393 168389 808390 261387 367Total use of gross disposable income

72 93271 84270 78469 70168 64367 64566 70665 86564 925Consumption of fixed capital

12 19015 39218 27619 33524 72025 94626 81730 68330 516Total national net saving

21 12619 46021 99623 15821 62923 04222 97923 86723 868Households–7 639–4 928–5 281–6 633–3 795–6 283–5 730–6 683–6 109General government7 3046 9426 9985 5677 8936 2816 8647 3508 332Financial corporations

–9 686–6 018–5 613–1 633–1 1111 0612 4617 5893 773Non–financial corporationsNational net saving(a)


Final consumption expenditureUse of gross disposable income

401 581401 377399 985396 553395 695393 168389 808390 261387 367Gross disposable income

–834–817–843–851–868–876–820–750–743Other current transfers357345342353372333346333313Current taxes on income, wealth, etc

Net secondary income from non-residents

402 058401 849400 486397 051396 191393 711390 282390 678387 797Gross national income

–12 201–11 221–11 005–9 583–8 272–7 963–8 409–9 482–11 361Net primary income from non-residents42 42642 09641 93840 93840 52539 75739 15040 39739 905Taxes less subsidies on production and imports35 10934 59635 09434 23533 36732 05830 85030 69230 284Gross mixed income

134 445135 734134 920134 212135 232134 959134 174135 940137 061Gross operating surplus202 279200 645199 538197 249195 340194 900194 517193 132191 908Compensation of employees


402 307400 982399 376397 494395 096392 892391 032389 514387 353Total use of gross disposable income

72 90971 85170 77669 69968 64867 65466 73065 83764 928Consumption of fixed capital

13 10315 12417 76520 74323 44125 91427 96829 68730 627Total national net saving

20 25320 69621 20421 60021 79222 11122 90523 71123 931Households–6 668–6 116–5 458–5 015–5 149–5 767–6 695–6 462–6 332General government7 1307 0317 0907 3477 6447 6377 6187 6217 681Financial corporations

–8 645–6 760–4 744–2 854–1 1991 2833 6615 2415 214Non–financial corporationsNational net saving(a)


Final consumption expenditureUse of gross disposable income


–827–829–838–856–871–858–817–769–736Other current transfers351347349354355350340330317Current taxes on income, wealth, etc

Net secondary income from non-residents

402 780401 465399 866397 996395 612393 400391 510389 953387 772Gross national income

–11 979–11 480–10 639–9 532–8 491–7 991–8 544–9 714–10 720Net primary income from non-residents42 50242 14341 69441 12740 33839 77439 70839 85239 856Taxes less subsidies on production and imports35 02334 92434 72434 27333 27632 06131 10330 57330 329Gross mixed income

135 146135 053134 933134 841134 701134 701135 057135 951136 353Gross operating surplus202 310200 812199 127197 287195 788194 854194 187193 290191 954Compensation of employees

TR E N D

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

NAT IONAL INCOME ACCOUNT, Cur ren t pr ices32


(a) Statistical discrepancy (E) less statistical discrepancy (I)— nil or rounded to zero (including null cells)

84 98787 10288 93288 90093 22993 46093 39496 44795 340Total capital accumulation and net

lending

–20 931–22 762–19 923–21 591–14 171–11 306–13 038–14 382–9 894Net lending to non-residents2 7344 4784 6412 803343–994–1 3261 839–1 709Statistical discrepancy(a)

2—1112–18–44—Acquisitions less disposals of non-produced

non-financial assets

394685–394151112–8711 7431 267–1 866Total changes in inventories

183–61–753–152–10517122670Public authorities112416–210–171–12795–176–100111Farm

98330–109318391–8611 7481 142–2 047Private non-farmChanges in inventories


13 04712 42911 80513 47112 32612 67912 70313 16313 542General government4 9385 5305 0665 1375 3484 8924 9254 2735 522Public corporations

84 80186 74287 73488 92889 27089 06088 40590 33189 746PrivateGross fixed capital formation

84 98787 10288 93288 90093 22993 46093 39496 44795 340Gross saving and capital transfers

135131128136135131128101101less Payable to non-residents—————————Receivable from non-residents

Capital transfers72 93271 84270 78469 70168 64367 64566 70665 86564 925Consumption of fixed capital12 19015 39218 27619 33524 72025 94626 81730 68330 516National net saving


85 59586 86188 44590 30991 95393 43694 57795 41595 454Total capital accumulation and net

lending

–21 527–21 749–21 163–18 928–15 263–13 018–12 329–12 382–12 194Net lending to non-residents3 6084 1193 9352 735731–374–527–134201Statistical discrepancy(a)

111111221Acquisitions less disposals of non-produced

non-financial assets

457280128–157–201401762415–487Total changes in inventories

7313–45–96–97–2410517494Public authorities238136–31–136–116–60–92–7109Farm1501312027411485749248–690Private non-farm



12 63712 47712 44712 51712 46212 31612 34112 68712 786General government4 9264 9665 0815 1885 1285 0485 1045 3515 691Public corporations

85 14186 50687 80488 83089 16088 92788 70488 76389 287PrivateGross fixed capital formation

85 59586 86188 44590 30991 95393 43694 57795 41595 454Gross saving and capital transfers

133131132133135132121109101less Payable to non-residents—————————Receivable from non-residents

Capital transfers72 90971 85170 77669 69968 64867 65466 73065 83764 928Consumption of fixed capital13 10315 12417 76520 74323 44125 91427 96829 68730 627National net saving

TR E N D

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

NAT IONAL CAPITAL ACCOUNT, Cur rent pr i ces33


(a) Contains withholding taxes on royalties.— nil or rounded to zero (including null cells)

20 92922 76219 92221 59014 17011 30413 05614 4269 894Total capital accumulation and net lending (+) /

net borrowing (-)

20 93122 76219 92321 59114 17111 30613 03814 3829 894Net lending (+) / net borrowing (-)–2—–1–1–1–21844—

Acquisitions less disposals of non-producednon-financial assets

20 92922 76219 92221 59014 17011 30413 05614 4269 894Balance on external income and capital transfers

—————————Capital transfers payable by non-residents135131128136135131128101101Capital transfers receivable by non-residents

Capital account

20 79422 63119 79421 45414 03511 17312 92814 3259 793Balance on external income account

2 0942 1032 0762 0772 0842 0542 0552 0672 036Current transfers(a)Secondary income payable by non-residents

7 23311 61311 29512 03512 21812 48112 75911 64211 759Property income711699743737703694650631615Compensation of employees

Primary income payable by non-residents77 41177 98980 58776 42481 81380 88579 44880 32686 734Exports of goods and services

Use of income by non-residents

2 5712 5752 5772 5752 5802 5972 5292 4842 466Current transfersSecondary income receivable by non-residents

18 39921 81321 29620 61619 50019 38820 19220 20222 112Property income1 7471 7201 7471 7391 6931 7501 6261 5531 623Compensation of employees

Primary income receivable by non-residents85 52588 92788 87387 79787 08083 55383 49284 75284 736Imports of goods and services

Income of non-residentsIncome account


21 52621 74821 16218 92615 26013 02512 34912 40512 212Total capital accumulation and net lending (+) /

net borrowing (-)

21 52721 74921 16318 92815 26313 01812 32912 38212 194Net lending (+) / net borrowing (-)–1–1–1–1–1–1–2–2–1

Acquisitions less disposals of non-producednon-financial assets

21 52621 74821 16218 92615 26013 02512 34912 40512 212Balance on external income and capital transfers

—————————Capital transfers payable by non-residents133131132133135132121109101Capital transfers receivable by non-residents

Capital account

21 39921 61221 01618 79215 12512 89312 22812 29612 111Balance on external income account

2 0992 0922 0852 0792 0712 0652 0602 0542 041Current transfers(a)Secondary income payable by non-residents

11 46611 46711 60311 86512 28812 52212 36712 06111 688Property income711718729730714684654632625Compensation of employees

Primary income payable by non-residents77 74278 07378 53979 31580 09280 37880 64780 66185 272Exports of goods and services

Use of income by non-residents

2 5732 5742 5752 5812 5862 5732 5382 4932 460Current transfersSecondary income receivable by non-residents

19 85520 72621 13520 64119 76419 50519 92220 80921 457Property income1 7361 7381 7341 7331 7291 6921 6421 5981 576Compensation of employees

Primary income receivable by non-residents86 97987 93888 55288 05786 13784 50383 96284 08484 133Imports of goods and services

Income of non-residentsIncome account

TR E N D

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

EXTERNAL ACCOUNT, Cur rent pr i ces34


(c) Interest flows are adjusted for the cost of financial intermediation servicesindirectly measured. See Explanatory Notes.

(d) Includes financial intermediation services indirectly measured relating todeposits and consumer debt interest.

(e) Net saving is derived as a balancing item.

(a) Includes non-profit institutions serving households and unincorporatedenterprises.

(b) Includes investment income of insurance enterprises, superannuation fundsand investment funds attributable to policyholders and imputed interest ongovernment unfunded superannuation arrangements.

369 074366 062362 875359 521356 095352 870349 973347 251344 198Total use of gross income

23 79523 47223 14722 82522 50422 17021 81521 45321 113Consumption of fixed capital20 25320 69621 20421 60021 79222 11122 90523 71123 931Net saving(e)

240 174238 037235 632232 990230 239227 745225 486223 320221 068Final consumption expenditure(d)


84 85283 85682 89282 10681 55980 84479 76778 76778 085Total income payable

66 78466 17365 46664 65863 73762 64861 40760 38259 710Total secondary income payable

2 6932 7442 8052 8572 8522 8092 7232 6592 703Other sectors1 3731 3691 3641 3601 3641 3591 3351 3001 274Non-residents

Other current transfers1 2891 2751 2631 2531 2481 2441 2431 2441 239Other current taxes on income, wealth etc.8 8238 7348 6458 5548 4668 3858 3148 2478 174Net non-life insurance premiums2 7202 6932 6662 6392 6122 5852 5582 5312 504Social contributions for workers' compensation

49 88749 35848 72447 99547 19546 26645 23444 40143 815Income tax payableSecondary income payable

18 06817 68317 42617 44817 82218 19618 36118 38518 376Total primary income payable

18 06817 68317 42617 44817 82218 19618 36118 38518 376Total property income payable

177176177183192197199206218Rent on natural assets1 6751 6221 5801 5691 5961 6331 6491 6431 631

Property income payable by unincorporatedenterprises

2 0272 0172 0192 0402 1112 1642 1582 1352 151Consumer debt interest14 18813 86913 65013 65613 92414 20314 35514 40114 376Interest on dwellings

Property income payable(c)Primary income payable

Uses of income

369 074366 062362 875359 521356 095352 870349 973347 251344 198Total gross income

55 12654 82054 52854 22353 87653 65853 56753 24552 619Total secondary income receivable

8589939498105118134150Other sectors969965965967968965961959962Non-residents

Other current transfers8 9258 8178 7278 6348 5638 5588 6388 5518 302Current transfers to non-profit institutions9 5789 4419 3239 1829 0168 8968 7998 7538 743Non-life insurance claims

32 80832 77532 71932 67432 58732 51332 44432 25131 883Social assistance benefits2 7612 7322 7032 6722 6442 6212 6072 5962 580Workers' compensation

Social benefits receivableSecondary income receivable

313 948311 242308 347305 298302 219299 212296 406294 007291 578Total primary income receivable

43 60042 76542 05241 62341 40540 92740 16739 62039 166Property income receivable(b)(c)201 278199 792198 122196 284194 772193 846193 198192 324191 003Compensation of employees

35 02334 92434 72434 27333 27632 06131 10330 57330 329Gross mixed income34 04733 76233 44933 11832 76532 37831 93831 48931 080

Gross operating surplus–dwellings owned bypersons

Primary income receivableIncome

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

HOUSEHOLD INCOME ACCOUNT (a) , Cur ren t pr ices : Trend35


(c) Interest flows are adjusted for the cost of financial intermediation servicesindirectly measured. See Explanatory Notes.

(d) Includes financial intermediation services indirectly measured relating todeposits and consumer debt interest.

(e) Net saving is derived as a balancing item.

(a) Includes non-profit institutions serving households and unincorporatedenterprises.

(b) Includes investment income of insurance enterprises, superannuation fundsand investment funds attributable to policyholders and imputed interest ongovernment unfunded superannuation arrangements.


23 80623 46923 14222 83022 50222 17021 83221 44321 105Consumption of fixed capital21 12619 46021 99623 15821 62923 04222 97923 86723 868Net saving(e)

239 709238 394235 671233 011229 980227 994225 237223 557220 896Final consumption expenditure(d)




2 6102 8312 7942 7553 0092 7452 6882 7232 629Other sectors1 3711 3671 3731 3471 3651 3611 3611 2681 286Non-residents

Other current transfers1 2941 2741 2601 2551 2511 2361 2501 2391 245Other current taxes on income, wealth etc.8 8248 7348 6468 5548 4668 3848 3098 2518 176Net non-life insurance premiums2 7202 6932 6662 6392 6122 5852 5582 5302 504Social contributions for workers' compensation

49 84849 42248 79147 85647 34046 17345 46944 04343 834Income tax payableSecondary income payable



176179178171205195196200222Rent on natural assets1 6911 6171 5711 5591 5931 6501 6391 6641 608

Property income payable by unincorporatedenterprises

2 0332 0261 9992 0362 1062 1582 2442 0422 150Consumer debt interest14 28713 88313 52013 59513 95014 32014 27414 43314 417Interest on dwellings

Property income payable(c)Primary income payable

Uses of income



92789910188104130123158Other sectors973964961968971963961958961Non-residents

Other current transfers9 1048 5718 8608 6758 5018 4748 6958 6738 303Current transfers to non-profit institutions9 4439 6099 28710 4509 3429 8568 8438 8228 677Non-life insurance claims

32 85232 60032 96732 50832 56232 68632 18132 47031 812Social assistance benefits2 7612 7322 7042 6722 6442 6202 6022 5992 581Workers' compensation

Social benefits receivableSecondary income receivable


43 91642 76241 65541 80241 43040 98940 29139 26239 187Property income receivable(b)(c)201 244199 624198 534196 246194 349193 844193 541192 210190 900Compensation of employees

35 10934 59635 09434 23533 36732 05830 85030 69230 284Gross mixed income34 00333 81233 44333 10732 75332 41631 94131 45231 075

Gross operating surplus–dwellings owned bypersons


$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

HOUSEHOLD INCOME ACCOUNT (a) , Cur ren t pr ices : Seasona l l y Adjus ted36


(b) Net saving is derived as a balancing item.— nil or rounded to zero (including null cells)(a) Includes land rent and royalties on mineral leases and native timber tracts.


9 0628 9518 8418 7328 6248 5238 4308 3398 247Consumption of fixed capital–6 668–6 116–5 458–5 015–5 149–5 767–6 695–6 462–6 332Net saving(b)76 62875 96675 15074 06572 78271 55770 81470 66870 785Final consumption expenditure




9 0379 0388 9838 8578 8618 9439 0809 0569 022Other sectors414413415418419415408402399Non-residents

Other current transfers32 80832 77532 71932 67432 58732 51332 44432 25131 883Social assistance benefits in cash to residents

Secondary income payable


5 6745 5415 4215 3405 3155 3025 2716 1036 115Subsidies


—————————Rent on natural assets

7 4487 4037 3417 3097 4147 6037 7677 8447 816Total interest

4 0613 9883 8903 8303 9224 1274 3374 4494 441Other interest3 3873 4163 4513 4793 4923 4763 4303 3953 374On unfunded superannuation liabilities

InterestProperty income payable

Primary income payableUses of income



3 9314 0394 1844 2924 2584 1804 1064 0874 190Other current transfers

66 28966 13765 91965 47964 67763 41862 16061 66761 829Total current taxes

1 2891 2751 2631 2531 2481 2441 2431 2441 239Other current taxes on income, wealth etc.

65 00064 86164 65564 22563 43062 17560 91760 42360 590Total income tax

628618609604602598586569550Non-residents14 48514 88615 32215 62715 63315 31115 09815 45216 225Resident corporations49 88749 35848 72447 99547 19546 26645 23444 40143 815Individuals

Income tax fromCurrent taxes on income, wealth etc.

Secondary income receivable


6 9617 1577 3297 4117 6237 8908 0377 9307 722Total property income receivable

2 3262 3212 3512 4282 5152 5982 7222 9443 210Rent on natural assets(a)

3 0523 2853 4363 4133 5003 6633 6703 3132 813Total dividends

644764909989974972988990873Other750872858666606715765554259Public financial corporations

1 6591 6491 6681 7571 9191 9761 9181 7681 681Public non-financial corporationsDividends

1 5831 5521 5421 5701 6081 6281 6451 6731 698InterestProperty income receivable

48 15947 68847 14046 46645 66945 07744 78446 17745 948Taxes on production and imports9 0628 9518 8418 7328 6248 5238 4308 3398 247Gross operating surplus


$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

GENERAL GOVERNMENT INCOME ACCOUNT, Cur ren t pr ices : Trend37


(b) Net saving is derived as a balancing item.— nil or rounded to zero (including null cells)(a) Includes land rent and royalties on mineral leases and native timber tracts.


9 0618 9508 8428 7328 6248 5228 4278 3428 247Consumption of fixed capital–7 639–4 928–5 281–6 633–3 795–6 283–5 730–6 683–6 109Net saving(b)76 75075 75075 25474 50672 35271 58371 04970 15671 030Final consumption expenditure




9 1528 7569 3209 3858 6978 9229 4338 6919 221Other sectors417412410423419413410400397Non-residents

Other current transfers32 85232 60032 96732 50832 56232 68632 18132 47031 812Social assistance benefits in cash to residents

Secondary income payable


5 7885 5005 3735 3505 3935 1715 3786 1235 964Subsidies


—————————Rent on natural assets

7 4487 4357 3207 3327 3127 6417 8567 7497 836Total interest

4 0424 0123 9233 7883 8324 2104 3524 3964 495Other interest3 4063 4233 3973 5443 4803 4313 5043 3533 340On unfunded superannuation liabilities

InterestProperty income payable

Primary income payableUses of income



3 8324 1124 1844 1774 5114 0114 0444 2514 044Other current transfers

66 11766 68266 06665 22665 09263 20462 91760 66662 261Total current taxes

1 2941 7351 2601 2551 2511 2361 6341 2391 245Other current taxes on income, wealth etc.

64 82364 94764 80663 97163 84161 96861 28359 42661 016Total income tax

632621605595619582596570544Non-residents14 34314 90415 41015 52015 88215 21415 21914 81416 639Resident corporations49 84849 42248 79147 85647 34046 17345 46944 04343 834Individuals

Income tax fromCurrent taxes on income, wealth etc.

Secondary income receivable


6 6957 1347 7107 1877 5037 9968 9957 4598 047Total property income receivable

2 2962 3462 3812 2792 6862 5692 6282 9503 228Rent on natural assets(a)

2 7893 2273 8223 3673 1283 8374 7502 8053 109Total dividends

5847728641 1468689441 0071 068809Other5238301 2724893578231 765159417Public financial corporations

1 6821 6241 6861 7311 9022 0691 9781 5781 882Public non-financial corporationsDividends

1 6101 5611 5081 5411 6891 5901 6171 7041 711InterestProperty income receivable

48 12447 59747 40246 28145 83344 92244 62046 53245 798Taxes on production and imports9 0618 9508 8428 7328 6248 5228 4278 3428 247Gross operating surplus


$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

GENERAL GOVERNMENT INCOME ACCOUNT, Cur ren t pr ices : Seasona l l y Adjus ted38


114 447114 213113 425111 526111 028108 094107 474107 232108 077Total taxes

1 6321 5911 5201 4441 4211 3731 4163 3293 288Other taxes2 5272 4272 4032 4152 3892 3182 2992 2732 233Motor vehicle taxes1 4291 4041 3701 3181 2931 3341 3501 5281 422Taxes on insurance1 5851 5331 4871 4741 4181 4281 4261 3701 382Taxes on gambling3 4113 2503 2343 0412 7212 4812 2942 5732 332Taxes on international trade5 5855 4275 6285 9656 0316 0056 2536 4486 448Excise taxes

14 78714 71914 49214 32314 20614 04513 89913 89513 717Goods and services tax377376368358341331338333340Sales taxes

5 5925 9415 6794 9745 2664 8655 0464 3514 303Taxes on financial and capital

transactions

4 3484 2854 2234 1644 1034 0413 9783 9083 846Municipal and metropolitan

improvement rates

2 0441 9761 9271 9041 8581 8051 7461 6561 596Land taxes6 3076 3396 2896 1766 1406 0986 1476 1426 155Payroll taxes

64 82364 94764 80663 97163 84161 96861 28359 42661 016Total taxes on income

632621605595619582596570544Non-residents14 34314 90415 41015 52015 88215 21415 21914 81416 639Resident corporations

49 84849 42248 79147 85647 34046 17345 46944 04343 834Total individuals

1 2311 2221 2131 2001 1851 1761 1581 1371 106Other1 1161 1071 1011 0891 0731 0631 0481 0261 008Fringe benefit taxes

47 50147 09346 47745 56745 08243 93543 26241 88141 720Net tax instalmentsIndividuals

Taxes on income


114 551113 840113 043111 956110 391108 498106 879107 871107 830Total taxes

1 6301 5811 5191 4551 4031 3961 4283 2443 376Other taxes2 4942 4492 4182 3992 3762 3362 2972 2662 237Motor vehicle taxes1 4311 4011 3621 3231 3001 3301 3981 4501 448Taxes on insurance1 5721 5361 4951 4581 4381 4231 4101 3901 366Taxes on gambling3 3853 3033 1843 0052 7272 5002 4192 4062 363Taxes on international trade5 4645 5365 6825 8616 0046 1056 2396 3556 498Excise taxes

14 82314 67014 50814 34314 18014 05013 94813 85113 707Goods and services tax378374367355343335334337336Sales taxes

5 6555 5475 4255 2725 0934 8854 6404 4284 352Taxes on financial and capital

transactions

4 3464 2854 2244 1634 1034 0413 9763 9103 846Municipal and metropolitan

improvement rates

2 0321 9821 9361 8971 8581 8051 7361 6621 599Land taxes6 3416 3146 2676 1976 1366 1176 1376 1496 111Payroll taxes

65 00064 86164 65564 22563 43062 17560 91760 42360 590Total taxes on income

628618609604602598586569550Non-residents14 48514 88615 32215 62715 63315 31115 09815 45216 225Resident corporations

49 88749 35848 72447 99547 19546 26645 23444 40143 815Total individuals

1 2321 2221 2121 2001 1871 1741 1581 1371 106Other1 1161 1081 0991 0881 0761 0621 0461 0271 009Fringe benefit taxes

47 54147 02746 41345 70744 93244 03043 03042 23741 700Net tax instalmentsIndividuals

Taxes on income

TR E N D

$m$m$m$m$m$m$m$m$m


2015–162014–152013–14

TAXES, Cur ren t pr ices39


(b) Reference year for implicit price deflators is 2013–14.(c) For definitions see Glossary.(d) Change on preceding quarter.


1.00.20.30.40.2——0.30.5Average non-farm compensation per employee

(%)

3.30.70.80.90.80.50.40.50.7Non-farm compensation of employees (%)

0.90.10.20.30.2——0.30.5Average compensation per employee (%)

Income related measures–11.3–3.1–3.1–3.0–2.5–1.7–1.2–1.0–1.4

New Private business investment–current prices(%)

–12.8–3.2–3.4–3.6–3.3–2.3–1.4–1.2–1.6New Private business investment–chain

volume(a) (%)

New private business investment9.71.71.31.64.84.62.82.01.3Farm GDP–implicit price deflator(b) (%)

9.63.52.30.82.74.64.92.80.1Farm GDP–current prices (%)

—1.81.0–0.7–2.0—2.00.7–1.1Farm GDP–chain volume(a) (%)

–1.2–0.4–0.3–0.3–0.2–0.1–0.2–0.4–0.4Non-farm GDP–implicit price deflator(b) (%)

2.10.50.50.50.50.50.30.10.2Non-farm GDP–current prices (%)

3.30.90.90.80.70.60.50.50.6Non-farm GDP–chain volume(a) (%)

Farm and non-farm GDP3.00.80.80.70.70.60.60.50.5Production–GDP(P) (%)

3.70.90.90.90.90.70.50.40.6Income–GDP(I) (%)

2.90.90.90.70.40.40.50.60.7Expenditure–GDP(E) (%)

Chain volume measures of GDP(a)

PE R C E N T A G E CH A N G E S (d)

. .18 96718 93218 88118 81218 77418 77618 77518 725Average non-farm compensation per employee

($)

. .200 930199 440197 764195 930194 430193 485192 797191 878Non-farm compensation of employees ($m)

. .18 82118 79518 75318 69018 65118 64818 64618 596Average compensation per employee ($)

. .24.724.925.125.425.725.926.326.7Profits share of total factor income (%)

. .54.354.254.053.853.853.953.953.7Wages share of total factor income (%)

Income related measures. .0.3820.3900.3950.3950.3890.3830.3820.380Imports to domestic sales (quotient)

. .65 44767 11368 26368 32567 05965 91165 58565 583Imports of merchandise goods ($m)

. .0.6310.6310.6290.6230.6180.6180.6170.613Private non-farm inventories to total sales

(quotient)

. .230 784232 744234 551236 058236 562236 226237 104239 641Total sales ($m)

. .171 159172 007172 681173 014172 565171 908171 806172 526Domestic sales ($m)

. .145 540146 812147 451147 081146 210145 878146 236146 796Private non-farm inventory levels–book values

($m)

. .131 612131 438131 321131 129131 094131 179130 899130 238Private non-farm inventory levels–chain

volume(a) ($m)

Inventories and sales. .55 96157 77059 64961 48863 08564 20464 96065 645

New Private business investment–current prices($m)

. .54 24056 02658 01660 16362 20063 64164 54465 308New Private business investment–chain

volume(a) ($m)

New private business investment(c)

. .121.5119.5117.9116.1110.8106.0103.1101.1Farm GDP–implicit price deflator(b) (index)

. .9 6429 3159 1089 0368 7958 4108 0217 805Farm GDP–current prices ($m)

. .7 9357 7977 7237 7817 9387 9367 7787 722Farm GDP–chain volume(a) ($m)

. .97.998.398.798.999.199.299.599.9Non-farm GDP–implicit price deflator(b) (index)

. .403 192401 268399 177397 067395 003393 168392 162391 851Non-farm GDP–current prices ($m)

. .411 776408 092404 606401 410398 639396 255394 329392 337Non-farm GDP–chain volume(a) ($m)

Farm and non-farm GDP. .418 829415 524412 320409 397406 728404 127401 821399 733Production–GDP(P) ($m)

. .421 592418 004414 193410 313406 619403 842401 970400 224Income–GDP(I) ($m)

. .418 004414 171410 561407 869406 147404 376402 511400 194Expenditure–GDP(E) ($m)


L E V E L S


Mar 15 to

Mar 16

2015–162014–152013–14

SELECTED ANALYT ICAL SERIES: Trend40


(b) Reference year for implicit price deflators is 2013–14.(c) For definitions see Glossary.(d) Change on preceding quarter.

. . not applicable— nil or rounded to zero (including null cells)na not available(a) Reference year for chain volume measures is 2013–14.

1.20.4–0.41.00.2–0.3–0.20.80.4Average non-farm compensation per employee

(%)

3.60.80.61.21.00.20.20.70.6Non-farm compensation of employees (%)

1.20.4–0.40.90.3–0.3–0.20.80.4Average compensation per employee (%)

Income related measures–11.3–3.9–2.1–4.2–1.7–2.3–1.1–0.9–1.7

New Private business investment–current prices(%)

–12.6–3.4–2.4–5.0–2.5–2.8–1.3–1.1–1.7New Private business investment–chain

volume(a) (%)

New private business investment4.90.9–3.15.02.29.30.4–1.06.0Farm GDP–implicit price deflator(b) (%)

4.83.8–0.93.6–1.69.92.04.00.3Farm GDP–current prices (%)

—2.92.3–1.3–3.70.51.75.1–5.4Farm GDP–chain volume(a) (%)

–1.2–0.6–0.3–0.2—–0.50.2–0.4–0.8Non-farm GDP–implicit price deflator(b) (%)

2.00.40.40.80.40.30.7–0.1–0.2Non-farm GDP–current prices (%)

3.21.00.71.00.40.90.50.40.6Non-farm GDP–chain volume(a) (%)

Farm and non-farm GDP3.01.00.70.80.40.90.50.50.5Production–GDP(P) (%)

3.50.90.71.30.51.00.5—0.9Income–GDP(I) (%)

2.91.30.80.9–0.10.70.50.9—Expenditure–GDP(E) (%)


PE R C E N T A G E CH A N G E S (d)

. .18 96618 88918 96118 77918 73318 78418 83118 685Average non-farm compensation per employee

($)

. .200 899199 272198 175195 892193 983193 533193 129191 720Non-farm compensation of employees ($m)

. .18 82418 75118 82718 66818 60518 65518 69818 558Average compensation per employee ($)

. .24.625.125.125.325.826.026.126.7Profits share of total factor income (%)

. .54.454.154.053.953.753.954.153.7Wages share of total factor income (%)

Income related measures. .0.3760.3930.3990.3920.3910.3810.3810.382Imports to domestic sales (quotient)

. .64 22467 94268 47768 21967 46965 35265 20865 968Imports of merchandise goods ($m)

. .0.6310.6300.6290.6290.6110.6150.6250.614Private non-farm inventories to total sales

(quotient)

. .229 698233 330235 348234 406238 075236 763235 328238 207Total sales ($m)

. .170 818172 915171 486174 159172 424171 727171 288172 652Domestic sales ($m)

. .144 887146 989148 058147 440145 439145 686146 990146 162Private non-farm inventory levels–book values

($m)

. .131 829131 252131 245131 436130 963130 595131 917130 203Private non-farm inventory levels–chain

volume(a) ($m)

Inventories and sales. .55 77858 02859 26961 84462 90364 36065 08765 689

New Private business investment–current prices($m)

. .54 25756 15757 53660 53362 05463 84564 66465 368New Private business investment–chain

volume(a) ($m)

New private business investment(c)

. .118.3117.3121.0115.3112.8103.2102.8103.9Farm GDP–implicit price deflator(b) (index)

. .9 4929 1469 2338 9099 0548 2368 0717 757Farm GDP–current prices ($m)

. .8 0237 7997 6277 7298 0257 9827 8497 466Farm GDP–chain volume(a) ($m)

. .97.898.498.798.998.999.599.399.7Non-farm GDP–implicit price deflator(b) (index)

. .402 933401 301399 683396 480395 082393 785391 182391 421Non-farm GDP–current prices ($m)

na412 000407 805404 940400 738399 291395 916394 061392 661Non-farm GDP–chain volume(a) ($m)

Farm and non-farm GDP. .419 401415 154412 379409 102407 272403 764401 727399 823Production–GDP(P) ($m)

. .421 561417 935414 841409 402407 376403 381401 324401 275Income–GDP(I) ($m)

. .419 106413 726410 482406 897407 299404 548402 681399 261Expenditure–GDP(E) ($m)


L E V E L S


Mar 15 to

Mar 16

2015–162014–152013–14

SELECTED ANALYT ICAL SERIES, Seasona l l y ad jus ted41



1 621 5541 584 5781 545 9321 509 1091 456 2091 422 3631 394 2251 369 3081 320 366Gross domestic product

269————————Statistical discrepancy (E)339 277339 062345 166342 974307 251278 677261 838271 793237 437Imports of goods and services352 758331 241313 007296 498282 369279 772266 095261 516252 544Exports of goods and services

1 607 8041 592 3991 577 2471 555 6221 482 0561 421 6191 389 5931 380 7801 302 434Gross national expenditure

795–1 7632 0294 3154 719–1 710–6 0154 0401 865Total changes in inventories

–8840–18965385381–2 206–1 83068Public authorities–1752858617011 005–406–1121 162507Farm

1 058–2 0881 4152 9143 380–1 468–4 6553 6371 236Private non-farmChanges in inventories

1 607 0091 594 1621 573 3671 548 4881 473 1051 420 0661 390 1421 369 8871 294 960Domestic final demand




33 58935 56835 99237 04938 31439 84030 03226 05624 151State and local

17 07616 36514 77216 74115 80715 48513 31312 72311 260Total national


General government





37 42237 76137 84736 57933 23531 68230 84630 68126 767Total intellectual property products2 0671 9501 8631 7751 7031 5581 4131 2931 201Artistic originals

12 53111 60110 71510 0099 2588 6067 9687 9186 853Computer software5 4716 9328 0837 5466 8376 5626 9026 3824 949Mineral and petroleum exploration


3 0153 4363 9253 8924 7473 5264 0283 8033 952Cultivated biological resources





–3 682–3 935–4 390–1 826–1 222–1 607–1 743–1 113–1 478Net purchases of second hand assets84 763104 614107 11096 68862 58450 05053 81141 64541 101New engineering construction45 84743 45042 00139 94136 37933 38739 01240 60236 343New building


82 25976 11872 39173 72978 35175 50374 61375 70874 360Total dwellings



1 188 3981 160 9971 134 4881 119 4431 087 7911 048 8011 026 5091 013 969971 460Total final consumption expenditure

901 902878 289855 791842 498821 388791 250773 642771 274736 433Households


172 483168 403166 759164 905159 207156 199152 380148 095143 169State and local114 012114 305111 902111 979107 164101 293100 44294 34291 730Total national

91 49592 76290 79789 92084 25880 61579 94874 88772 219National–Non-defence22 51721 54221 10522 07422 92120 71820 53419 48719 507National–defence


$m$m$m$m$m$m$m$m$m

2014–152013–142012–132011–122010–112009–102008–092007–082006–07

EXPENDITURE ON GDP, Cha in volume measures(a) : Annua l42




259————————Statistical discrepancy (E)341 623339 062321 032319 325283 397264 754282 178263 381233 676Imports of goods and services318 653331 241302 276317 286298 052252 154283 461232 747216 177Exports of goods and services

1 633 9011 592 4001 543 1381 493 0841 395 1401 309 3961 257 1771 208 5751 104 032Gross national expenditure

978–1 7632 3925 1786 073–2 176–3 5144 5271 040Total changes in inventories

–8340–22065764300–983–89156Public authorities–3382855475041 114–466–8801 798566Farm

1 399–2 0882 0654 0174 895–2 010–1 6513 620418Private non-farmChanges in inventories

1 632 9231 594 1631 540 7461 487 9061 389 0671 311 5721 260 6911 204 0481 102 992Domestic final demand




33 93035 56835 75736 41637 29038 54129 83224 87421 116State and local

17 46116 36514 67816 67016 13316 18514 31512 93111 342Total national


General government





36 88437 76137 95136 53633 15931 69431 08430 37925 586Total intellectual property products2 1001 9501 8091 6801 5791 4001 2371 098980Artistic originals

11 96911 60111 22610 90710 49010 2009 92010 0809 247Computer software5 3676 9327 8497 1506 2105 7276 0345 4963 940Mineral and petroleum exploration


3 1673 4364 1254 2395 1683 5173 6733 9583 542Cultivated biological resources





–3 757–3 935–4 343–1 802–1 193–1 555–1 733–1 066–1 338Net purchases of second hand assets85 941104 614105 32092 91459 49346 41749 73636 57634 677New engineering construction46 87843 45041 65739 50136 23332 34238 51238 80932 836New building


85 29876 11870 07569 92173 63069 08966 27364 84460 614Total dwellings



1 205 6151 160 9971 110 0911 070 1391 012 718951 894905 760865 236801 226Total final consumption expenditure

916 125878 289835 826801 183761 638719 001685 579663 844614 605Households


175 751168 403165 639161 431151 840142 003132 587122 056112 830State and local113 738114 305108 626107 52599 24090 89087 59479 33673 791Total national

90 59792 76288 21886 60878 02271 91168 90562 54757 348National–Non-defence23 14121 54220 40820 91721 21818 97918 68816 78916 443National–defence


$m$m$m$m$m$m$m$m$m

2014–152013–142012–132011–122010–112009–102008–092007–082006–07

EXPENDITURE ON GDP, Cur ren t pr i ces : Annua l43


(a) Includes contributions to superannuation made by employers and payments ofworkers' compensation premiums.



–12————————Statistical discrepancy (I)160 312158 607149 656139 636136 208128 082119 325123 039115 284Taxes less subsidies on production and imports

1 450 8901 425 9711 374 7271 351 4101 273 5871 168 7151 139 1341 054 902971 250Total factor income

130 338121 119123 062120 508116 840108 605103 31999 19185 108Gross mixed income

538 516540 867512 477515 478489 754446 389445 213387 512365 028Total gross operating surplus

130 218123 532116 261109 144102 15397 57690 92982 57973 943Dwellings owned by persons34 30532 77731 08729 51928 07526 76626 08523 74422 594General government

373 993384 558365 129376 815359 526322 046328 199281 190268 491Total corporations83 97779 42073 26066 39265 24362 37263 29752 84946 404Financial corporations

290 016305 138291 869310 423294 283259 674264 902228 341222 087Total non-financial corporations

19 12417 77316 75517 06316 21715 60213 49612 98816 407Public non-financial corporations270 891287 365275 114293 360278 066244 072251 406215 353205 680Private non-financial corporations


782 035763 985739 188715 424666 993613 721590 602568 199521 114Total compensation of employees

81 41778 71474 79172 74068 21463 18260 82458 75454 129Employers' social contributions(a)700 619685 271664 397642 684598 779550 539529 778509 445466 985Wages and salaries


$m$m$m$m$m$m$m$m$m

2014–152013–142012–132011–122010–112009–102008–092007–082006–07

INCOME ON GDP, Cur ren t pr ices : Annua l44





–340————————Statistical discrepancy (P)105 349105 266105 300103 991102 16299 41699 916101 10999 187Taxes less subsidies on products

1 516 5451 479 3121 440 7981 405 3871 354 4001 323 2901 294 8461 268 6201 221 514Gross value added at basic prices


104 807100 38495 98292 44489 66886 90282 63878 03674 279Health care and social assistanceQ75 54673 80472 14771 05369 73768 99567 34865 15563 733Education and trainingP85 98982 84179 06877 87975 77673 60473 26869 08368 692Public administration and safetyO43 00142 95442 00741 41342 80440 57042 36745 37242 967Administrative and support servicesN96 182100 096101 14997 18492 40686 98380 87777 40975 184

Professional, scientific and technicalservices

M44 95843 00539 73637 30134 48933 86333 57931 82333 152Rental, hiring and real estate services(d)L

140 799133 166127 053122 661119 533116 739116 315116 706107 552Financial and insurance servicesK46 96842 90541 98342 32142 07440 75740 14939 62137 398Information media and telecommunicationsJ

74 32275 10575 53873 04470 08367 96566 73467 17363 676Total

33 38934 36735 15133 08530 90529 27128 56927 64626 333Transport, postal and storage services11 39710 94010 99410 5079 9889 6029 5629 2618 634Rail, pipeline and other transport(c)

6 7466 7586 8546 8186 4926 0436 0546 2766 073Air and space transport22 79023 04022 57822 66122 76623 23022 71624 29522 849Road transport

Transport, postal and warehousingI38 70636 21536 30136 54735 21034 34534 72035 48035 573Accommodation and food servicesH71 89670 05768 86066 67564 47463 66162 51262 32659 426Retail tradeG65 74664 13464 95563 04859 38059 62157 66656 78055 105Wholesale tradeF

125 793125 511120 166117 640106 820103 827103 22299 12392 601ConstructionE

43 83443 23844 31643 92143 65742 46942 00540 25840 188Total

16 67416 46016 91216 45415 82014 83414 41213 93414 588Water supply and waste services2 0191 8051 8311 6811 7661 6171 6111 6001 555Gas


100 318101 807103 011106 588105 889106 052105 520111 243107 064Total

19 03919 79421 21022 19921 27321 71120 41821 27220 588Machinery and equipment15 81716 33916 00017 49017 13416 38617 11117 35815 588Metal products

6 5126 0115 9546 2316 5736 6796 7796 7776 488Non-metallic mineral products17 86918 33618 57619 66019 31419 29018 55420 66020 139

Petroleum, coal, chemical and rubberproducts

3 0903 3413 5433 5813 9853 9894 3335 1865 057Printing and recorded media6 7406 4206 3176 3206 8917 3197 1327 7448 050Wood and paper products4 9374 9394 7934 8505 0535 2386 4017 0456 724

Textile, clothing and othermanufacturing

26 31526 62726 63526 18225 59625 60424 80825 65325 674Food, beverage and tobacco productsManufacturingC

138 862130 420119 067109 455101 79099 62892 34589 41487 101Total


Mining excluding exploration and miningsupport services

14 13314 37614 40814 34914 25212 87112 12712 75214 237Other mining66 23058 13847 82642 98336 53235 60428 59125 76324 256Iron ore mining31 19529 81528 90227 46228 62927 23726 94324 70423 887Oil and gas extraction18 58317 66116 62514 13413 52114 82414 10414 38012 472Coal mining

MiningB

36 29135 64335 38235 57935 08333 86534 13228 95627 114Total



$m$m$m$m$m$m$m$m$m

2014–152013–142012–132011–122010–112009–102008–092007–082006–07

INDUSTRY GROSS VALUE ADDED (a) , Cha in Volume Measures (b ) : Annua l45


(b) Change on preceding quarter.— nil or rounded to zero (including null cells)(a) Reference year for chain volume measures is

2013–14.

0.1–0.1—–0.10.1———Gross domestic product

–0.10.6–0.30.8–0.30.1–0.40.4less Imports of goods and services–0.2–0.10.5–0.5–0.10.20.2–0.3Exports of goods and services

0.3–0.2——0.2–0.1–0.1—Gross national expenditure

0.1——————0.1Domestic final demand

0.4–0.5–0.10.4–0.30.2–0.10.3Total gross fixed capital formation

–0.2–0.81.4–0.20.20.1—0.1Total public gross fixed capital formation

–1.00.90.6–0.70.40.20.1–0.2General government1.7–5.93.31.3—0.1–0.50.6Public corporations

Public gross fixed capital formation

0.5–0.4–0.50.5–0.50.2–0.10.4Total private gross fixed capital formation

–0.2—0.2–0.1–0.1—0.1—Intellectual property products–1.2–2.4–0.9–0.61.6–1.00.50.2Cultivated biological resources1.70.5–0.30.5–0.50.2–0.20.3Machinery and equipment—–1.2–1.51.5–1.30.5–0.40.9Non-dwelling construction

0.60.5–0.4–0.60.50.4–0.3–0.3Ownership transfer costs0.6–0.40.4–0.50.7–0.30.4–0.5Dwellings

Private gross fixed capital formation

—0.10.1–0.10.1——–0.1Total final consumption expenditure

——0.1–0.10.1——–0.1Households–0.1—0.1–0.10.1———General government


DecSepJunMarDecSepJunMar

2015–162014–152013–14

EXPENDITURE ON GDP, Cha in volume measures (a ) —Rev is ions to percentage changes(b) :

Seasona l l y ad jus ted46



–464–4844722616465238–10Gross domestic product

482–2416611842827788–249Statistical discrepancy (I)–65–27–262960–61–844Taxes less subsidies on production and imports

–882–218–163213158–165–42195Total factor income

–464–153–874780–29–8628Gross mixed income

–684–12–89273–55–8360192Total gross operating surplus

–103–2–9101–2–5Dwellings owned by persons——————1—General government

–188–170–93–38165–35–37–8Financial corporations1218718399–62111–32Public non-financial corporations

–60769–12281–23912–12236Private non-financial corporationsGross operating surplus

267–5314–106132–52–16–25Compensation of employees

IN C O M E FR O M GD P

–464–4844722616465238–10Gross domestic product

4871 06799737–95282–37210Statistical discrepancy (E)778767154416–23720–59215less Imports of goods and services

–230–18254–153–2791–32–26Exports of goods and services

57–60247392530–3024821Gross national expenditure

356–39396–129296–311102–73Changes in inventories

–299–2093772212349–5593Domestic final demand

–509–58264243–144191–9122Total gross fixed capital formation

2664268185511–111Total public gross fixed capital formation

3014352–266918–6–32General government–5–7921644–14–7–532Public corporations

Public gross fixed capital formation

–534–647–205225–1981802121Total private gross fixed capital formation

–464–12–495–6Intellectual property products–104–81–45–31–20–23–6–2Cultivated biological resources32242–939–5539–523Machinery and equipment

–587–615–233236–24420214151Non-dwelling construction–348–34–27–529–2–23–1Ownership transfer costs18737104—96–4418–43Dwellings

Private gross fixed capital formation

209373314–22378–182–46–28Total final consumption expenditure

9117891–112233–9422–69Households11919622490145–88–6841General government


EX P E N D I T U R E ON GD P

$m$m$m$m$m$m$m$m


2015–162014–152013–14

GROSS DOMESTIC PRODUCT ACCOUNT, Cur ren t pr i ces —Rev is ions : Seasona l l y ad jus ted47


(b) Reference year for chain volume measures is 2013–14.(c) Excludes ownership of dwellings.

— nil or rounded to zero (including null cells)(a) At basic prices.

0.1–0.1—–0.10.1———Gross domestic product

0.20.10.1–0.20.1—0.1–0.1Taxes less subsidies on products

0.2–0.1———0.2–0.10.1Gross value added at basic prices

————————Ownership of dwellings..–0.7—–0.61.0–0.3–0.1–0.40.7Other servicesS–0.3—0.1–0.1——0.1–0.1Arts and recreation servicesR–0.7–0.10.1–0.20.1–0.10.1–0.1Health care and social assistanceQ

————————Education and trainingP0.1–0.10.20.50.91.00.80.4Public administration and safetyO

–0.4–0.3—0.2—–0.1—0.2Administrative and support servicesN0.9—0.20.1–0.20.10.10.1Professional, scientific and technical servicesM

–0.7—–0.30.4——–0.20.2Rental, hiring and real estate services(c)L—–0.10.2–0.30.3–0.10.1–0.2Financial and insurance servicesK—–0.1——0.2–0.2——Information media and telecommunicationsJ

0.2—–0.20.2——–0.10.2Transport, postal and warehousingI0.40.10.2–0.50.30.10.1–0.4Accommodation and food servicesH———–0.10.1———Retail tradeG

–0.40.20.3–0.30.2—0.2–0.2Wholesale tradeF1.6–1.4–0.11.0–0.40.8—0.2ConstructionE

–0.50.1–0.10.2–0.1—–0.10.2Electricity, gas, water and waste servicesD0.30.1–0.40.7–0.3—–0.30.4ManufacturingC0.3—0.5–0.70.3—0.3–0.5MiningB0.61.9–2.1–1.0–0.65.1–2.8–0.1Agriculture, forestry and fishingA


2015–162014–152013–14

INDUSTRY GROSS VALUE ADDED (a) , Cha in volume measures (b ) —Rev is ions to percentage

changes : Seasona l l y ad jus ted48


4 Estimating the national accounts components for a period of less than one year

presents special problems. It is often difficult to adhere strictly to definitions used in

annual estimates when deriving quarterly ones. This is particularly the case for the

quarterly measure of income, because it is not always possible to match the volume of

production for a quarter with the cost incurred in that production. Difficulties are also

encountered in obtaining detailed data for short periods and in preparing consistent

estimates from different sources with different accounting procedures and periods.

Furthermore, the quarter–to–quarter growth in seasonally adjusted terms is very

sensitive to the timing of recording a transaction. If the recording of a transaction is

delayed by one quarter, seasonally adjusted movements will be distorted for three

consecutive quarters. All these problems affect the accuracy of the current price and

chain volume estimates and should be taken into account in interpreting the estimates.

5 The majority of the estimates in the quarterly national accounts are based on the

results of sample surveys. Many of the results of these surveys are released in the period

leading up to the release of the quarterly accounts thus providing users with a guide to

likely movements in key national accounting aggregates. In a national accounts context,

these various pieces of information are referred to as partial indicators. Usually there are

differences in concept and scope between the national accounts series and the relevant

partial indicator which means that the movements in the partial indicator will not always

be identical to the national accounts series movement. However, in general the

movements should be similar. To ensure a reasonable level of consistency between the

partial indicators and the national accounts series and hence present a common

understanding of recent economic developments, the national accounts area liaises with

AC C U R A C Y OF QU A R T E R L Y

ES T I M A T E S

2 Australia's national accounts statistics are compiled in accordance with international

standards contained in the System of National Accounts. These standards have recently

been updated and are presented in the System of National Accounts, 2008 (SNA08).

Australia's application of these SNA standards is described in Australian System of

National Accounts: Concepts, Sources and Methods (cat. no. 5216.0). It is available on

the ABS website <http://www.abs.gov.au>. This Australia's national accounts statistics

are compiled in accordance with international standards contained in the System of

National Accounts. These standards have recently been updated and are presented in the

System of National Accounts, 2008 (SNA08) concepts and a number of references to data

sources and methods are out of date. A revised Concepts, Sources and Methods product

was released on 22 March 2016.

3 While national estimates are based on the concepts and conventions embodied in

SNA08, no such standard is available for sub–national (regional/state) accounts. In the

main, the national concepts are applicable to state accounts, but there remain a number

of conceptual and measurement issues that either do not apply or are insignificant at the

national level. Information on some of the more important conceptual, methodological

and data issues relating to annual and quarterly estimates by state is provided in Chapter

28 of the Concepts, Sources and Methods.

CO N C E P T S , SO U R C E S AN D

ME T H O D S

1 This publication contains estimates of gross domestic product (GDP) and its

components, components of state final demand, the national income account, the

national capital account and supporting series. Quarterly estimates are provided for the

latest nine quarters. For the most part, these estimates are provided in trend and

seasonally adjusted terms. Where trend and seasonally adjusted estimates are not

available, original data are provided. Annual estimates, on an original basis, are provided

for the key statistics for the past nine years. The List of Time Series Spreadsheets, set out

in the Appendix, shows the full range of data provided. The full quarterly time series,

including all original data on a quarterly basis (both national and state), are available

from the Australian Bureau of Statistics (ABS) website <http://www.abs.gov.au>.

I N T R O D U C T I O N


E X P L A N A T O R Y N O T E S

11 Data that are affected by seasonal factors are adjusted to remove the effects of these

factors. Three important points should be noted here:

The methods used in seasonal adjustment do not force the sum of the adjusted

current price estimates for each quarter of a year to equal the original annual total.

Where chain volume estimates have no apparent seasonality in their implicit price

deflators, the estimates are adjusted using the corresponding factors for current

price estimates.

A special method, known as the pseudo–additive method, has been used to adjust

the output of cereal crops. This is necessary to account for the fact that there is no

cereal output in some quarters.

12 Seasonally adjusted chain volume figures are calculated from seasonally adjusted

figures expressed in the prices of the previous year. As with original data, the seasonally

adjusted chain volume measures are benchmarked to annual original estimates. As a

consequence, the seasonally adjusted chain volume measures sum to the corresponding

annual original figures – unlike their current price counterparts.

Seasonal Adjustment

10 The general methods for deriving seasonally adjusted and trend estimates are

described in Australian National Accounts: Concepts, Sources and Methods (cat. no.

5216.0).

SE A S O N A L L Y AD J U S T E D AN D

TR E N D ES T I M A T E S

9 Most figures are subject to revision as more complete and accurate information

becomes available. The revisions are of two types: those made to recent quarters and

those made as a consequence of a redistribution across all quarters within a year

following revisions to annual totals.

RE V I S I O N S

the relevant survey areas and provides feedback regarding data quality and data

coherence. This may result in adjustments being made by survey areas to their collected

data prior to their release. The objective use of the national accounts framework to

provide data coherence across all ABS economic statistics ensures that a common

understanding of recent economic developments is presented.

6 The state estimates generally represent dissections of quarterly estimates published

for Australia in this publication. Therefore, they will reflect any inaccuracies in those

estimates as well as inaccuracies introduced by the particular conceptual, methodological

and data problems inherent in the allocation of Australian estimates to states and

territories. As such, the degree of accuracy and reliability will necessarily be lower than

that for the counterpart Australian estimates.

7 Estimates for compensation of employees, household final consumption expenditure

and private gross fixed capital formation are based on the results of sample surveys. By

their nature, survey results become less accurate as they are disaggregated (for example

into states and/or industries). Generally, the ABS surveys used to derive these aggregates

are designed to provide accurate estimates at the Australian total level and individual

state estimates that are less accurate but still of acceptable quality. However, it should be

noted that relative standard errors are generally higher for the smaller states and

territories than they are for the larger states. This may result in greater volatility in the

quarterly estimates for the smaller states and two territories.

8 Estimates of government final consumption expenditure, and general government

and public enterprise gross fixed capital formation can be substantially affected by the

indicators chosen to apportion the Commonwealth government component to states

and territories. Care is required when interpreting these estimates.

AC C U R A C Y OF QU A R T E R L Y

ES T I M A T E S continued


E X P L A N A T O R Y N O T E S continued

19 GDP is derived by three approaches: the income approach (I), the expenditure

approach (E) and the production approach (P). A description of each approach is

provided in the following paragraphs. While each measure should, conceptually,

produce the same estimate of GDP, if the three measures are compiled independently

using different data sources, then different estimates of GDP result. The ABS aligns the

estimates of GDP annually by balancing them in supply and use tables. These tables have

been compiled from 1994–95, up to the year preceding the latest complete financial year.

Balancing in supply and use tables ensures that the same estimate of GDP is obtained

from the three approaches. Annual estimates using the I, E and P approaches are

identical for the years for which these tables are compiled. For years balanced using

supply and use tables, quarterly GDP is benchmarked to annual GDP. However, the

three estimates of GDP can be different for any given quarter. The annual GDP estimate

GR O S S DO M E S T I C PR O D U C T

(G D P )

18 For trend and seasonally adjusted series, the sum of the states and territories

generally does not equal the corresponding estimate for 'total Australia', nor are the

quarter–to–quarter movements identical. On a few occasions, these differences have

been significant, particularly for the seasonally adjusted series. This reflects both the

shorter span of data available for seasonal analysis at the state level and the fact that

seasonal analysis is generally carried out at a more aggregated level than for the 'total

Australia' series. The state and territory trend and seasonally adjusted series are less

accurate than the Australian data. However, as the state and territory time series

lengthen, the quarterly movements in the sum of the state estimates should more closely

match those in the Australian series.

State and terr i tory versus

Austral ian ser ies

13 Given the qualifications regarding the accuracy and reliability of the quarterly

national accounts, the ABS considers that trend estimates provide the best guide to the

underlying movements, and are more suitable than either the seasonally adjusted or

original data for most business decisions and policy advice.

14 A trend estimate is obtained by removing the irregular component from the

seasonally adjusted series. For estimates in this publication, it is calculated using a

centred 7–term Henderson moving average of the seasonally adjusted series. The

procedure is designed to minimise distortions in the trend level, turning point shape and

timing of turning points. Estimates for the three most recent quarters cannot be

calculated using this centred average method; instead an asymmetric average is used.

This can lead to revisions in the trend estimates for the last three quarters when data

become available for later quarters, even if none of the original data for earlier quarters

has changed.

15 The higher the 'irregular' component in a series, then the greater the likelihood

that trend estimates for the latest quarters will be revised as more observations become

available. However, it is important to note that this does not make the trend series

inferior to the seasonally adjusted or original series. In fact, in such cases the effect of the

irregular component on overall movements is likely to be even more in the seasonally

adjusted and the original estimates than in the trend series.

16 Trend estimates for aggregates such as GDP are derived directly, rather than as the

sum of components. As a result, the sum of the trend estimates of individual

components of a particular aggregate will not sum to the overall trend estimate of the

aggregate for the latest three quarters. This approach provides higher quality trend

estimates for key aggregates, particularly GDP.

17 For more information about ABS procedures for deriving trend estimates and an

analysis of the advantage of using them over alternative techniques for monitoring

trends,, see Information Paper: A Guide to Interpreting Time Series – Monitoring

Trends, 2003 (cat. no. 1349.0) or contact Time Series Analysis on (02) 6252 6345 or by

email at <[email protected]>.

Trend Est imates



26 In the national accounts, estimates are made for the output of banks and similar

institutions who produce services through the provision of deposit and loan services.

Often there is no single explicit charge for these services and instead the relevant

financial institutions set interest rates such that a service margin can be earned. Thus,

interest rates on loans are higher than would otherwise be the case if there were no

service element provided and interest rates on deposits are lower than would otherwise

be the case.

27 In order to appropriately account for this service component the output produced

by these financial institutions is shown as being consumed by Households (includes

unincorporated enterprises and private non profit institutions serving households),

Corporations, and General government. In the sector income accounts the effect of

F I N A N C I A L IN T E R M E D I A T I O N

SE R V I C E S

24 GDP using the production approach is derived as the sum of gross value added for

each industry, at basic prices, plus taxes less subsidies on products. Basic values

represent the amounts received by producers, including the value of any subsidies on

products, but before any taxes on products. The difference between the sum over all

industries of gross value added at basic prices, and GDP at market (or purchasers')

prices, is the value of taxes less subsidies on products.

25 In this publication, only volume estimates compiled using the production approach

have been shown. These estimates are derived by extrapolating annual volume measures

using various indicators. The information necessary to compile comprehensive current

price estimates using the production approach is not available quarterly.

PRODUCTION APPROACH (P)

23 GDP using the expenditure approach is derived as the sum of all final expenditures,

changes in inventories and exports of goods and services less imports of goods and

services. Volume estimates are derived for each of the components as well as for their

sum.

EXPENDITURE APPROACH (E)

22 GDP using the income approach is derived as the sum of compensation of

employees, gross operating surplus, gross mixed income and taxes less subsidies on

production and imports. Volume estimates are derived at the total GDP level by deflating

current price estimates by the implicit price deflator from the expenditure approach.

INCOME APPROACH (I)

produced by balancing using supply and use tables forms the benchmark for the

production of quarterly GDP going forward. Quarterly GDP is compiled in chain volume

terms using all three approaches. The headline measure of GDP is a simple average of

the three separate measures. It is labelled GDP(A), with "A" denoting "average".

20 Prior to 1994–95 quarterly and annual estimates using each approach are based on

independent sources, and there are usually differences between the I, E and P estimates.

For these periods, a single estimate of GDP has been compiled. In chain volume terms,

GDP is derived by averaging the chain volume estimates obtained from each of the three

independent approaches. The current price estimate of GDP is obtained by reflating the

average chain volume estimate by the implicit price deflator derived from the

expenditure–based estimates.

21 As a result of the above methods:

There is no statistical discrepancy for annual estimates from 1994–95 up to the year

prior to the latest complete financial year, in either current price or volume terms,

except for estimates released in the June quarter where discrepancies will exist for

the latest two complete financial years.

For years prior to 1994–95, and for all quarters, statistical discrepancies exist

between estimates based on the I, E and P approaches and the single estimate of

GDP, in both current prices and volume terms. These discrepancies are shown in

the relevant tables.

GR O S S DO M E S T I C PR O D U C T

(G D P ) continued



29 In addition to the publications already mentioned, others of interest include:

annual Australian System of National Accounts (cat. no. 5204.0)

annual Australian National Accounts: State Accounts (cat. no. 5220.0)

quarterly Australian National Accounts: Finance and Wealth (cat. no. 5232.0).

30 Current publications and other products released by the ABS are freely available

from the ABS website <http://www.abs.gov.au>, the website contains a link to the daily

Release Advice which details products to be released in the weeks (months) ahead.

RE L A T E D PU B L I C A T I O N S

allocating the output to consuming sectors is that part of the interest flow is deemed a

payment of service and the balance is shown as interest such that the net effect on saving

is zero.

28 In interpreting the income accounts it is therefore necessary to regard the interest

flow series as being a flow without a service element – i.e. a pure interest flow. In the

case of loans the interest flow that is shown will be less than the observed interest

payment made to the financial institution. In the case of deposits the interest flow that is

shown will be greater than the observed interest payment made by the financial

institution. For further information users should consult the Australian System of

National Accounts: Concepts, Sources and Methods (cat. no. 5216.0).

F I N A N C I A L IN T E R M E D I A T I O N

SE R V I C E S continued

Wage Price IndexWPI

unit labour costsULC

System of National Accounts 2008 versionSNA08

real unit labour costsRULC

household final consumption expenditureHFCE

gross value of agricultural productionGVAP

gross value addedGVA

gross operating surplusGOS

gross national incomeGNI

gross national expenditureGNE

gross fixed capital formationGFCF

government final consumption expenditureGFCE

gross domestic productGDP

domestic final demandDFD

Australian and New Zealand Standard Industrial Classification, 2006

Edition

ANZSIC06

Australian Bureau of StatisticsABSAB B R E V I A T I O N S



Trend, seasonally adjusted and original. State and Local General Government Income Account, Currentprices

19.

Trend, seasonally adjusted and original. National General Government Income Account, Current prices18.

Trend, seasonally adjusted and original.37, 38 General Government Income Account, Current prices17.

Trend, seasonally adjusted and original. Financial Corporations Income Account, Current prices16.

Trend, seasonally adjusted and original. Public Non-Financial Corporations Income Account, Currentprices

15.

Trend, seasonally adjusted and original. Private Non-Financial Corporations Income Account, Currentprices

14.

Trend, seasonally adjusted and original. Non-Financial Corporations Income Account, Current prices13.

Trend, seasonally adjusted and original.33 National Capital Account, Current prices12.

Trend, seasonally adjusted and original.32 National Income Account, Current prices11.

Trend, seasonally adjusted and original.23 Agricultural Income, Current prices10.

Volume and current price data (trend , seasonally adjusted &original).

22 Changes in Inventories9.

Volume and current price data (trend , seasonally adjusted &original).

20, 21 Household Final Consumption Expenditure (HFCE)8.

Trend, seasonally adjusted and original Income from GDP.18, 19, 47 Income from Gross Domestic Product (GDP), Current prices7.

Trend, seasonally adjusted and original data for industry GVAincluding percentage changes (trend & seasonally adjusted),revisions to percentage changes and contributions to growth(seasonally adjusted).

14, 15,16, 17, 48

Gross Value Added by Industry, Chain volume measures6.

Seasonally adjusted and percentage changes (seasonally adjusted).12, 13 Expenditure on Gross Domestic Product (GDP), Implicit pricedeflators

5.

Original and percentage changes (original).10, 11 Expenditure on Gross Domestic Product (GDP), Chain priceindexes

4.

Trend, seasonally adjusted and original data for expenditure on GDPincluding revisions (seasonally adjusted).

9, 47 Expenditure on Gross Domestic Product (GDP), Current prices3.

Trend, seasonally adjusted and original data for expenditure on GDPincluding percentage changes, revisions to percentage changes andcontributions to growth.

4, 5, 6, 7,8, 46

Expenditure on Gross Domestic Product (GDP), Chain volumemeasures

2.

Trend, seasonally adjusted and original data for key aggregatesincluding percentage changes and indexes.

1, 2 Key National Accounts Aggregates1.

Type of data

Includes

table(s)

from pdf Electronic table (time series spreadsheet)


A P P E N D I X T I M E S E R I E S S P R E A D S H E E T S

Annual current price data. National Capital Account, Current prices, Annual39.

Annual current price data. National Income Account, Current prices, Annual38.

Annual volume measures.45 Industry Gross Value Added, Chain volume measures, Annual37.

Annual volume and current price data with chain price indexes andIPD's.

42, 43 Expenditure on Gross Domestic Product (GDP), Chain volumemeasures and Current prices, Annual

36.

Annual44 Income from GDP and Changes in Inventories, Annual35.

Annual3 Key Aggregates and analytical series, Annual34.

Trend, seasonally adjusted and original, and revisions to percentagechanges (seasonally adjusted).

State Final Demand, Detailed Components: Australian CapitalTerritory

33.


State Final Demand, Detailed Components: Northern Territory32.


State Final Demand, Detailed Components: Tasmania31.


State Final Demand, Detailed Components: Western Australia30.


State Final Demand, Detailed Components: South Australia29.


State Final Demand, Detailed Components: Queensland28.


State Final Demand, Detailed Components: Victoria27.


State Final Demand, Detailed Components: New South Wales26.

Trend and seasonally adjusted, all states24, 25,26, 27,28, 29,30, 31

State Final Demand, Summary Components by State: Chainvolume measures

25.

Trend, seasonally adjusted and original.40, 41 Selected Analytical Series24.

Original. Social Assistance Benefits Payments, Current prices23.

Trend, seasonally adjusted and original.39 Taxes, Current prices22.

Trend, seasonally adjusted and original.34 External Account, Current prices21.

Trend, seasonally adjusted and original.35, 36 Household Income Account, Current prices20.

Type of data

Includes

table(s)



A P P E N D I X T I M E S E R I E S S P R E A D S H E E T S continued

Seasonally Adjusted. Compensation of Employees, State by Sector: Current Prices44.

Annual indexes. Indexes of Industrial Production, Annual43.

Trend, seasonally adjusted and original indexes. Unit Labour Costs42.

Quarterly indexes. Indexes of Industrial Production41.

Annual current price data. External Account, Current prices, Annual40.

Type of data

Includes

table(s)



A P P E N D I X T I M E S E R I E S S P R E A D S H E E T S continued

The difference in value between inventories held at the beginning and end of thereference period by enterprises and general government. For national accountingpurposes, physical changes in inventories should be valued at the prices current at thetimes when the changes occur. For these purposes, changes in inventories are obtainedafter adjusting the increase in book value of inventories by the inventory valuationadjustment. The need for the latter arises because the changes in the value of inventoriesas calculated from existing business accounting records do not meet national accounting


Annually–reweighted chain Laspeyres volume indexes referenced to the current pricevalues in a chosen reference year (i.e. the year when the quarterly chain volumemeasures sum to the current price annual values). Chain Laspeyres volume measures arecompiled by linking together (compounding) movements in volumes, calculated usingthe average prices of the previous financial year, and applying the compoundedmovements to the current price estimates of the reference year. Quarterly chain volumeestimates are benchmarked to annual chain volume estimates, so that the quarterlyestimates for a financial year sum to the corresponding annual estimate.

Chain volume measures

Annually–reweighted chain Laspeyres price indexes referenced to the same year as thechain volume measures. They can be thought of as a series of indexes measuring pricechange from a base year to quarters in the following year using current price values inthe base year as weights, linked together to form a continuous time series. In otherwords, chain price indexes are constructed in a similar fashion to the chain volumeindexes. Quarterly chain price indexes are benchmarked to annual chain price indexes inthe same way as their chain volume counterparts. Unlike implicit price deflators, chainprice indexes measure only the impact of price change.

Chain price indexes

Unrequited transactions where either;ownership of an asset (other than cash or inventories) is transferred from oneinstitutional unit to another;cash is transferred to enable the recipient to acquire another asset; orthe funds realised by the disposal of an asset are transferred.

Examples include general government capital transfers to private schools for theconstruction of science blocks or libraries, assistance to first home owners and transfersto charitable organisations for the construction of homes for the aged.

Capital transfers

Records the values of the non–financial assets that are acquired, or disposed of, byresident institutional units by engaging in transactions, and shows the change in networth due to saving and capital transfers or internal bookkeeping transactions linked toproduction (changes in inventories and consumption of fixed capital).

Capital account

The amount receivable by the producer from the purchaser for a unit of a good orservice produced as output, minus any tax payable plus any subsidy receivable, on thatunit as a consequence of its production or sale; it excludes any transport chargesinvoiced separately by the producer.

Basic price

Calculated as total compensation of employees divided by the number of wage and salaryearners from the monthly Labour Force Survey.

Average compensation peremployee

Original films, sound recordings, manuscripts, tapes, models, etc., on which dramaperformances, radio and television programming, musical performances, sportingevents, literary and artistic output, etc. are recorded or embodied. Included are worksproduced on own–account. In some cases there may be multiple originals (e.g. films).

Artistic originals

The income accruing from agricultural production during an accounting period. It isequal to total agricultural factor income less consumption of fixed capital, compensationof employees, and net rent and interest payments.

Agricultural income

Includes three distinct types of non–produced non–financial assets: natural resources;contracts, leases and licences; and goodwill and marketing assets. At present, estimatesof the value of purchased goodwill and marketing assets are not compiled for the ASNA.

Acquisitions less disposals ofnon–produced non–financial

assets


G L O S S A R Y

Transfers, other than those classified as capital transfers, in which one institutional unitprovides a good, service or cash to another unit without receiving from the latteranything of economic value in return.

Current transfers

Include taxes on the incomes of households or the profits of corporations and taxes onwealth that are payable regularly every tax assessment period (as distinct from capitaltaxes that are levied infrequently).

Current taxes on income,wealth, etc

Estimates are valued at the prices of the period to which the observation relates. Forexample, estimates for this financial year are valued using this financial year’s prices. Thiscontrasts to chain volume measures where the prices used in valuation refer to theprices of the previous year.

Current prices

Includes livestock raised for breeding, dairy, wool, etc., and vineyards, orchards andother plantations of trees yielding repeat products that are under the direct control,responsibility and management of institutional units. Immature cultivated assets areexcluded unless produced for own use.

Cultivated biological resources

The contributions to growth for a given aggregate 'A' is calculated as:

100 * ((PYAt – PPAt) / PPAt) x (PPAt / PPGDPt)

Where:PYAt is the quantity of an aggregate in the current period, in previous period pricesPPAt is the quantity of an aggregate in the previous period, in previous period pricesPPGDPt is the current price value of GDP in the previous period

Additivity for contributions to growth exists for the years where the statisticaldiscrepancy is zero, effectively 1995–96 onwards, by using GDP expressed in the prices ofthe previous year. For the period 1986–87 to 1994–95, where the statistical discrepancy isnot zero, the result is close to additive but not exact because the statistical discrepancycannot be expressed in prices of the previous year. Additionally, quarterly contribution togrowth estimates will not add to GDP growth due to the existence of a statisticaldiscrepancy between the three quarterly measures of GDP.

Contributions to growth inGDP

The value of the reproducible fixed assets used up during a period of account as a resultof normal wear and tear, foreseen obsolescence and the normal rate of accidentaldamage. Unforeseen obsolescence, major catastrophes and the depletion of naturalresources are not taken into account.

Consumption of fixed capital

Computer programs, program descriptions and supporting materials for both systemsand applications software. Included are purchased software and, if the expenditure islarge, software developed on own–account. It also includes the purchase ordevelopment of large databases that the enterprise expects to use in production over aperiod of more than one year. The ASNA does not separately identify databases fromcomputer software as recommended by the 2008 SNA.

Computer software

Total remuneration, in cash or in kind, payable by an enterprise to an employee in returnfor work done by the employee during the accounting period. It is further classified intotwo sub–components: wages and salaries; and employers’ social contributions.Compensation of employees is not payable in respect of unpaid work undertakenvoluntarily, including the work done by members of a household within anunincorporated enterprise owned by the same household. Compensation of employeesexcludes any taxes payable by the employer on the wage and salary bill (e.g. payroll tax).See also Employers’ social contributions and Wages and salaries.


requirements. The inventory valuation adjustment is the difference between the changein (book) value of inventories and the physical changes valued at current prices. Thephysical changes at average current quarter prices are calculated by applying averagequarterly price indexes to the changes in various categories of inventories in volumeterms.

Changes in inventoriescontinued


G L O S S A R Y continued

Net expenditure on goods and services by persons and expenditure of a current natureby private non–profit institutions serving households. This item excludes expendituresby unincorporated businesses and expenditures on assets by non–profit institutions(included in gross fixed capital formation). Also excluded is expenditure on maintenanceof dwellings (treated as intermediate expenses of private enterprises), but personalexpenditure on motor vehicles and other durable goods and the imputed rent ofowner–occupied dwellings are included. The value of 'backyard' production (includingfood produced and consumed on farms) is included in household final consumptionexpenditure and the payment of wages and salaries in kind (e.g. food and lodgingsupplied free to employees) is counted in both household income and household finalconsumption expenditure.

Final consumptionexpenditure – households

Net expenditure on goods and services by public authorities, other than those classifiedas public corporations, which does not result in the creation of fixed assets orinventories or in the acquisition of land and existing buildings or second–hand assets. Itcomprises expenditure on compensation of employees (other than those charged tocapital works, etc.), goods and services (other than fixed assets and inventories) andconsumption of fixed capital. Expenditure on repair and maintenance of roads isincluded. Fees, etc., charged by general government bodies for goods sold and servicesrendered are offset against purchases. Net expenditure overseas by general governmentbodies and purchases from public corporations are included. Expenditure on defenceassets is classified as gross fixed capital formation.

Final consumptionexpenditure – general

government

Includes:inventories held on farms (including wool, wheat, barley, oats, maize, sorghum, hay,fertiliser, apples and pears, and livestock);wool held in store awaiting sale; andproduce (e.g. vegetables) held in cold store where ownership remains with theprimary producer.

Farm inventories

Is the part of gross domestic product which derives from production in agriculture andservices to agriculture.

Farm GDP

Records all current transactions between Australian residents and non–residents.External account

The value of goods exported and amounts receivable from non–residents for theprovision of services by residents.

Exports of goods and services

Payments by employers which are intended to secure for their employees theentitlement to social benefits should certain events occur, or certain circumstances exist,that may adversely affect their employees' income or welfare – namely work–relatedaccidents and retirement.

Employers’ socialcontributions

Buildings, or designated parts of buildings, that are used entirely or primarily asresidences, including any associated structures, such as garages, and all permanentfixtures customarily installed in residences. Houseboats, barges, mobile homes andcaravans used as principal residences of households are also included, as are publicmonuments identified primarily as dwellings. The costs of site clearance and preparationare also included in the value of dwellings.

Dwellings

Defined as:household final consumption expenditure on goodsplus private gross fixed capital formation: dwellings, non–dwelling construction, andmachinery and equipmentplus public gross fixed capital formation: dwellings, non–dwelling construction, andmachinery and equipment.

Domestic sales



The value of output at basic prices minus the value of intermediate consumption atpurchasers' prices. The term is used to describe gross product by industry and by sector.Basic prices valuation of output removes the distortion caused by variations in theincidence of commodity taxes and subsidies across the output of individual industries.

Gross value added

The operating surplus accruing to all enterprises, except unincorporated enterprises,from their operations in Australia. It is the excess of gross output over the sum ofintermediate consumption, compensation of employees, and taxes less subsidies onproduction and imports. It is calculated before deduction of consumption of fixedcapital, dividends, interest, royalties and land rent, and direct taxes payable, but afterdeducting the inventory valuation adjustment. Gross operating surplus is also calculatedfor general government and it equals general government's consumption of fixed capital.


The aggregate value of gross primary incomes for all institutional sectors, including netprimary income receivable from non–residents.

Gross national income (GNI)

The total expenditure within a given period by Australian residents on final goods andservices (i.e. excluding goods and services used up during the period in the process ofproduction). It is equivalent to gross domestic product plus imports of goods andservices less exports of goods and services.

Gross national expenditure(GNE)

The surplus or deficit accruing from production by unincorporated enterprises. Itincludes elements of both compensation of employees (returns on labour inputs) andoperating surplus (returns on capital inputs).

Gross mixed income ofunincorporated enterprises

(GMI)

The total income, whether in cash or kind, receivable by persons normally resident inAustralia. It includes both income in return for productive activity (such as compensationof employees, the gross mixed income of unincorporated enterprises, gross operatingsurplus on dwellings owned by persons, and property income receivable, etc.) as well astransfers receivable (such as social assistance benefits and non–life insurance claims).

Gross income – households

Expenditure on new fixed assets plus net expenditure on second–hand fixed assets,including both additions and or replacements. Expenditure on repair and maintenanceof fixed assets is excluded, being chargeable to the production account. Compensationof employees and other costs paid by corporations in connection with own–accountcapital formation are included.


The ratio of the chain volume estimate of GDP to an estimate of hours worked. Hoursworked estimates are derived as the product of employment and average hours worked.

Movements in chain volume estimates of GDP per hour worked are commonlyinterpreted as changes in labour productivity. However, it should be noted that thesemeasures reflect not only the contribution of labour to changes in production per hourworked, but also the contribution of capital and other factors (such as managerialefficiency, economies of scale, etc.).

Gross domestic product perhour worked

The ratio of the chain volume estimate of GDP to an estimate of the resident Australianpopulation. Population estimates use data published in the quarterly publicationAustralian Demographic Statistics (cat. no. 3101.0) and ABS projections.

GDP per capita

Is the total market value of goods and services produced in Australia within a givenperiod after deducting the cost of goods and services used up in the process ofproduction but before deducting allowances for the consumption of fixed capital. Thusgross domestic product, as here defined, is 'at market prices'. It is equivalent to grossnational expenditure plus exports of goods and services less imports of goods andservices.

Gross domestic product (GDP)

Gross household income less income tax payable, other current taxes on income, wealthetc., consumer debt interest, interest payable by unincorporated enterprises anddwellings owned by persons, net non–life insurance premiums and other currenttransfers payable by households.

Gross disposable income –households



Calculated as GDP less consumption of fixed capital.Net domestic product

Calculated as the sum of the net saving of each of the resident sectors – households andunincorporated enterprises, non–financial corporations, financial corporations andgeneral government.

National saving

The value of expenditures on exploration for petroleum and natural gas and fornon–petroleum mineral deposits. These expenditures include pre–licence costs, licenceand acquisition costs, appraisal costs and the costs of actual test drilling and boring, aswell as the costs of aerial and other surveys, transportation costs etc., incurred to make itpossible to carry out the tests.

Mineral and petroleumexploration

The 'market sector' is defined to include all industries except for Public administrationand safety (O); Education and training (P); Health care and social assistance (Q) andOwnership of dwellings.

Market sector

Includes transport equipment and other machinery and equipment, other than thatacquired by households for final consumption.


Receivable by the owners of financial assets such as deposits, loans, and securities otherthan shares for putting the financial asset at the disposal of another institutional unit.

Interest

Are as a result of research and development, investigation or innovations leading toknowledge that the developers can market or use for their own benefit. Includescomputer software, research and development, entertainment, literary or artisticoriginals, and mineral exploration intended to be used for more than a year.

Intellectual property products

Consists of taxes on the income of households, corporations and non–residents, andtaxes on wealth which are levied regularly (wealth taxes which are levied irregularly areclassified as capital taxes and are recorded in the sectoral capital accounts).

Income tax

Shows how gross disposable income is used for final consumption expenditure and theconsumption of fixed capital (depreciation), with the balance being net saving. Incomeflows are divided into primary income and secondary income. Primary incomes areincomes that accrue to institutional units as a consequence of their involvement inprocesses of production or ownership of assets that may be needed for purposes ofproduction. Secondary incomes are incomes that are redistributed between institutionalunits by means of payments and receipts of current transfers. Income redistribution alsoincludes social transfers in kind.

Income account

Imports of merchandise goods divided by domestic sales. This ratio is calculated usingcurrent price estimates. See also Domestic sales.

Imports to domestic sales ratio

The value of goods imported and amounts payable to non–residents for the provision ofservices to residents.

Imports of goods and services

Obtained by dividing a current price value by its real counterpart (the chain volumemeasure). When calculated from the major national accounting aggregates, such as grossdomestic product, implicit price deflators relate to a broader range of goods and servicesin the economy than that represented by any of the individual price indexes that arepublished by the ABS. Movements in an implicit price deflator reflect both changes inprice and changes in the composition of the aggregate for which the deflator iscalculated.

Implicit price deflator

The ratio of household net saving to household net disposable income. Household netsaving is calculated as household net disposable income less household finalconsumption expenditure. Household net disposable income is calculated as householdgross disposable income less household consumption of fixed capital.

Household saving ratio

The hours worked by all labour engaged in the production of goods and services,including hours worked by civilian wage and salary earners, employers, self–employedpersons, persons working one hour or more without pay in a family business or on afarm, and members of the Australian defence forces.

Hours worked



Defined as:non–dwelling constructionplus machinery and equipmentplus cultivated biological resourcesplus intellectual property products.

Private business investment

Consists of fees paid to lawyers, fees and commissions paid to real estate agents andauctioneers, stamp duty, Title Office charges and local government charges. Ownershiptransfer costs in the ASNA relate to dwellings and non–dwelling construction.

Ownership transfer costs

Consists of all taxes that enterprises incur as a result of engaging in production, excepttaxes on products. Other taxes on production include: taxes related to the payroll orworkforce numbers excluding compulsory social security contributions paid byemployers and any taxes paid by the employees themselves out of their wages orsalaries; recurrent taxes on land, buildings or other structures; some business andprofessional licences where no service is provided by the government in return; taxes onthe use of fixed assets or other activities; stamp duties; taxes on pollution; and taxes oninternational transactions.

Other taxes on production

Consists of all subsidies, except subsidies on products, which resident enterprises mayreceive as a consequence of engaging in production. Other subsidies on productioninclude: subsidies related to the payroll or workforce numbers, including subsidiespayable on the total wage or salary bill, on numbers employed, or on the employment ofparticular types of persons, e.g. persons with disabilities or persons who have beenunemployed for a long period.

Other subsidies on production

Other current taxes on income, wealth etc. consists mainly of payments by householdsto obtain licences to own or use vehicles, boats or aircraft, and for licences to hunt,shoot or fish.

Other current taxes onincome, wealth etc.

Claims payable in settlement of damages that result from an event covered by a non–lifeinsurance policy in the current accounting period.

Non–life insurance claims

All inventories except those classified to farm and public authorities inventories.Non–farm inventories

Non–farm GDP arises from production in all industries other than agriculture.Non–farm GDP

Consists of non–residential buildings and other structures. ‘Non–residential buildings’are buildings other than dwellings, including fixtures, facilities and equipment that areintegral parts of the structures and costs of site clearance and preparation.

‘Other structures’ are structures other than buildings, including streets, sewers and siteclearance and preparation other than for residential or non–residential buildings. Alsoincluded are shafts, tunnels and other structures associated with the extraction ofmineral and energy resources. Major improvements to land, such as dams, are alsoincluded.

Non–dwelling construction

All transfers to or from non–residents to resident government or private institutionalunits which are not payments for goods and services, compensation of employees orproperty income.

Net secondary income fromnon–residents

Balancing item of the income account, this is equal to total income receivable less totalincome payable, final consumption expenditure and consumption of fixed capital.Represents the excess of income over consumption.

Net saving

Defined as non–life insurance premiums plus premium supplements less the non–lifeinsurance service charge.

Net non–life insurancepremiums

The excess of net acquisition of financial assets in the rest of the world by residentinstitutional units over their net incurrence of liabilities in the rest of the world.

Net lending to non–residents



Is calculated by:taking real gross domestic incomededucting real incomes payable to the rest of the worldadding real incomes receivable from the rest of the worlddeducting the volume measure of consumption of fixed capital.

Real net national disposableincome

The real aggregate value of gross primary incomes for all institutional sectors, includingnet primary income receivable from non–residents. It is calculated by adjusting real grossdomestic income for the real impact of primary income flows (property income andlabour income) to and from overseas.

Real gross national income

Measures the purchasing power of the total incomes generated by domestic production.

It is calculated by:taking the volume measure of gross national expenditure (GNE)adding exports of goods and services at current prices deflated by the implicit pricedeflator for imports of goods and servicesdeducting the volume measure of imports of goods and servicesadding the current price statistical discrepancy for GDP(E) deflated by the implicitprice deflator for GDP.

In the derivation of the aggregate all of the adjustments are made using the chainvolume aggregation method used to derive all of the ABS chain volume estimates.

Real gross domestic income

The amount paid by the purchaser, excluding any deductible tax, in order to takedelivery of a unit of a good or service at the time and place required by the purchaser.The purchaser’s price of a good includes any transport charges paid separately by thepurchaser to take delivery at the required time and place.

Purchasers' prices

Include estimates for general government, public non–financial corporations and publicfinancial corporations. Recorded inventories include demonetised gold transactions(gold sales and gold loans) by the Reserve Bank of Australia and the construction ofmilitary equipment for export.

Public authorities inventories

Includes imputed flows relating to life insurance, superannuation and non–life insuranceoperations. These include imputed interest from life insurance and pension funds tohouseholds; premium supplements which are an imputed property income flow fromnon–life insurance corporations to policy–holders; and imputed interest from thegeneral government sector to households, which is recorded on the account of theunfunded superannuation schemes operated by the general government sector.

Property income flowsattributable to insurance policy

holders

A common method of examining changes in productivity over an extended periodinvolves identifying and dividing the data into productivity 'growth cycles'. Year to yearchanges in measured productivity may reflect changes that are conceptually distinct fromthe notion of productivity. By analysing averages of productivity statistics betweengrowth cycle peaks, the effects of some of these temporary influences can be minimised,allowing better analysis of the drivers of productivity growth in different periods.Productivity growth cycle peaks are determined by comparing the annual MFP estimateswith their corresponding long–term trend estimates. The peak deviations between thesetwo series are the primary indicators of a growth–cycle peak, although general economicconditions at the time are also considered.

Production account

Private non–farm inventories divided by total sales. This ratio is calculated using currentprice estimates. See also Total sales.

Private non–farm inventoriesto total sales ratio

Second hand asset sales by the public sector to private corporations are included inprivate business investment in the components non–dwelling construction andmachinery and equipment. As the public sector also sells secondhand assets to thehousehold sector and to the external sector, not all secondhand asset sales by the publicsector will be included in private business investment.

Private business investmentcontinued



Taxes payable per unit of some good or service. The tax may be a specific amount ofmoney per unit of quantity of a good or service (quantity being measured either in termsof discrete units or continuous physical variables such as volume, weight, strength,distance, time, etc.), or it may be calculated ad valorem as a specified percentage of theprice per unit or value of the goods or services transacted. A tax on a product usuallybecomes payable when the product is produced, sold or imported, but it may alsobecome payable in other circumstances, such as when a good is exported, leased,transferred, delivered, or used for own consumption or own capital formation.

Taxes on products

Consists of ‘Taxes on products’ and ‘Other taxes on production’. These taxes do notinclude any taxes on the profits or other income received by an enterprise. They arepayable irrespective of the profitability of the production process. They may be payableon the land, fixed assets or labour employed in the production process, or on certainactivities or transactions.

Taxes on production andimports

Subsidies payable per unit of a good or service. The subsidy may be a specific amount ofmoney per unit of quantity of a good or service, or it may be calculated ad valorem as aspecified percentage of the price per unit. A subsidy may also be calculated as thedifference between a specified target price and the market price actually paid by apurchaser. A subsidy on a product usually becomes payable when the product isproduced, sold or imported, but it may also become payable in other circumstances,such as when a product is exported, leased, transferred, delivered or used for ownconsumption or own capital formation.

Subsidies on products

For years in which a balanced supply and use table is available to benchmark the nationalaccounts, the same measure of GDP is obtained regardless of whether one sumsincomes, expenditures or gross value added for each industry. For other years, however,statistical discrepancies between the measures remain. The differences between thosethree separate estimates and the single measure of GDP for those years are calledstatistical discrepancy (I), statistical discrepancy (E) and statistical discrepancy (P),respectively.

Statistical discrepancy (I), (E)and (P)

Current transfers payable to households by government units to meet the same needs associal insurance benefits, but which are not made under a social insurance schemeincorporating social contributions and social insurance benefits. They may be payable incash or in kind. In Australia, they include the age pension and unemployment benefits.

Social assistance benefits

Creative work undertaken on a systematic basis in order to increase the stock ofknowledge, including knowledge of man, culture and society, and to enable this stock ofknowledge to be used to devise new applications. It is included in Intellectual propertyproducts as a produced fixed asset.

Research and development

Income receivable by the owner of a natural resource (the lessor or landlord) for puttingthe natural resource at the disposal of another institutional unit (a lessee or tenant) foruse of the natural resource in production.

Rent on natural assets

Imputed transactions related to that component of income that is not distributed toequity and or unit holders in direct foreign investment enterprises, and resident andnon–resident investment funds in the form of dividends.

Reinvested earnings

In connection with price or volume indexes, the reference period means the period towhich the indexes relate. It is typically set equal to 100 for price indexes and to thecorresponding current price values of the reference year for volume indexes, and it doesnot necessarily coincide with the base period.

Reference period

Real incomes payable and receivable are calculated by dividing the nominal income flowsby the implicit price deflator for gross national expenditure. In the derivation of theaggregate, all of the adjustments are made using the chain volume aggregation methodused to derive all of the ABS chain volume estimates.

Real net national disposableincome continued



Weapons systems consist of delivery systems such as warships, submarines, fighteraircraft, bombers and tanks. They are classified as produced non–financial fixed assets.

Weapons systems

Consist of amounts payable in cash including the value of any social contributions,income taxes, fringe benefits tax, etc., payable by the employee even if they are actuallywithheld by the employer for administrative convenience or other reasons and paiddirectly to social insurance schemes, tax authorities, etc., on behalf of the employee.Wages and salaries may be paid as remuneration in kind instead of, or in addition to,remuneration in cash. Separation, termination and redundancy payments are alsoincluded in wages and salaries.

Wages and salaries

These series represent a link between productivity and the cost of labour in producingoutput. A nominal Unit Labour Cost (ULC) measures the average cost of labour per unitof output while a real ULC adjusts a nominal ULC for general inflation. A ULC iscalculated as the ratio of labour costs per hours worked by employees divided by volumegross value added per total hours worked. Positive growth in a real ULC indicates thatlabour cost pressures exist.

Unit labour costs

Represent the liabilities of the general government sector to public sector employees inrespect of unfunded retirement benefits. In Australia, most governments operate, orused to operate, superannuation schemes for their employees that are unfunded or onlypartly funded.

Unfunded superannuationclaims

Defined as:household final consumption expenditure on goodsplus private gross fixed capital formation: dwellings, non–dwelling construction, andmachinery and equipmentplus public gross fixed capital formation: dwellings, non–dwelling construction, andmachinery and equipmentplus exports of goods.

Total sales

That part of the cost of producing the gross domestic product which consists of grosspayments to factors of production (labour and capital). It represents the value added bythese factors in the process of production and is equivalent to gross domestic productless taxes plus subsidies on production and imports.

Total factor income

Terms of trade represent the relationship between export and import prices. Australia'sterms of trade are calculated by dividing the implicit price deflator of exports by theimplicit price deflator of imports.

Terms of trade



www.abs.gov.auWEB ADDRESS

All statistics on the ABS website can be downloaded freeof charge.

F R E E A C C E S S T O S T A T I S T I C S

Client Services, ABS, GPO Box 796, Sydney NSW 2001POST

1300 135 211FAX

[email protected]

1300 135 070PHONE

Our consultants can help you access the full range ofinformation published by the ABS that is available free ofcharge from our website. Information tailored to yourneeds can also be requested as a 'user pays' service.Specialists are on hand to help you with analytical ormethodological advice.

I N F O R M A T I O N A N D R E F E R R A L S E R V I C E

www.abs.gov.au the ABS website is the best place fordata from our publications and information about the ABS.

INTERNET

F O R M O R E I N F O R M A T I O N . . .

© Commonwealth of Australia 2016Produced by the Australian Bureau of Statistics

52

06

.0

•

AU

ST

RA

LI

AN

N

AT

IO

NA

L A

CC

OU

NT

S:

NA

TI

ON

AL

INC

OM

E,

EX

PE

ND

IT

UR

E A

ND

P

RO

DU

CT

•

Ma

rc

h

Qu

ar

te

r 2

01

6

ISSN 1031–5128

5206.0 Australian National Accounts: National Income ......— nil or rounded to zero (including...

Documents

Transcript of 5206.0 Australian National Accounts: National Income ......— nil or rounded to zero (including...