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1307.4 - South Australian Economic Indicators, Jul 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 01/07/2004   
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ABOUT THIS PUBLICATION

This publication provides an up-to-date overview of the South Australian economy and contrasts the State's performance with that of the Australian economy. It provides details of movements in a range of economic and social indicators.


OVERVIEW

The data in this Overview are presented in trend terms, unless otherwise stated.

Included in this overview are Statistical Summary tables showing comparisons between South Australia and Australia for a variety of economic and social indicators. Also included is a State Summary, showing the performance of all States and Territories for selected indicators.

Further detail on all the indicators shown below can be obtained by accessing the latest Data Cube attached to this publication. This Data Cube is available within the Related Links section at the bottom of this page.


INTERNATIONAL TRADE

The value of South Australian merchandise exports (in original terms) for the month of April 2004 was $627.7m. This was an increase of 1.0% from the previous month and 20.8% more than the value of exports in April 2003 ($519.7m).

The value of South Australian merchandise imports (in original terms) for April 2004 was $397.1m. This was a decrease of 16.2% from the $473.9m recorded in March 2004, and 12.0% less than the April 2003 figure of $451.0m.

Merchandise Exports and Imports

Graph - Merchandise Exports and Imports
- See International Merchandise Imports, Australia (Timeseries, cat. no. 5439.0), International Trade in Goods and Services, Australia (cat. no. 5368.0)


CONSUMPTION AND INVESTMENT


Retail Turnover continued its steady increase, with a positive movement of 0.3% from March 2004 ($1,159.2m) to $1162.7m in April 2004. In the twelve month period from April 2003, total retail turnover increased by 5.0% from $1,107.7m.
Retail Turnover

Graph - Retail Turnover
- See Retail Trade, Australia (cat. no. 8501)

In current price terms, the National Accounts figures for the March qtr 2004 showed that state final demand in South Australia increased by 1.1% from the December qtr 2003 ($14.5b) to $14.7b. This was also a 6.0% increase on the March qtr 2003 figure of $13.9b.

Household consumption expenditure grew by 1.9% from the December qtr 2003 to be $9.0b for the March qtr 2004. Private gross fixed capital formation was $2.7b for the March qtr 2004, a figure 2.2% lower than the previous quarter but 3.5% higher than the March qtr 2003 (($2.6b).

May 2004 saw a total of 5,174 new motor vehicle sales - a decrease of 0.1% on the previous month's figure of 5,180 vehicles. However, the May figure is 0.9% higher than the new vehicles sales recorded in May 2003 (5,128).
New Motor Vehicle Sales

Graph - New Motor Vehicle Sales
- See Sales of New Motor Vehicles, Australia (cat. no. 9314.0.55.001)


HOUSING

In April 2004 the estimated total number of dwelling units approved in South Australia was 857, slightly lower than March 2004 (868) but slightly higher than the estimated total approved in April 2003 (848).
Dwelling Units Approved

Graph - Dwelling Units Approved
- See Building Approvals, Australia (cat. no. 8731.0)


CONSUMER PRICE INDEX

The all groups consumer price index in Adelaide for the March quarter 2004 was 147.7, an increase of 2.1% on the level recorded for the same period in 2003 and up 1.0% on the December quarter 2003.
Consumer Price Index

Graph - Consumer Price Index
- See Consumer Price Index, Australia (cat. no. 6401.0)


LABOUR FORCE AND DEMOGRAPHY

The estimate of employed persons in South Australia was 718,600 in May 2004, slightly lower than the peak in July 2003 (719,600) and similar to the level of twelve months ago (718,300). The total number of persons employed full-time in South Australia was 491,500 in May 2004, lower than the May 2003 estimate of 505,500.

Employed Persons

Graph - Employed Persons
The estimate of the unemployment rate for South Australia was 6.2% in May 2004, slightly lower than the May 2003 estimate of 6.3%. The estimate of the participation rate in South Australia was 61.4% in May 2004, continuing the decline from the most recent peak of 62.0% between May and July 2003.
Unemployment Rate - Trend

Graph - Unemployment Rate - Trend
- See Labour Force, Australia (cat. no. 6202.0)


FINANCIAL MARKETS

The value of secured housing finance commitments (excluding alterations and additions, and including refinancing) was $639.4m in April 2004. This was an increase of 0.2% from the previous month and 5.8% more than the value of commitments in April 2003 ($604.1m).
Secured Housing Finance Commitments (a)

Graph - Secured Housing Finance Commitments
(a) Excludes alterations and additions. Includes refinancing.
- See Housing Finance for Owner Occupation, Australia (cat. no. 5609.0)




STATISTICAL SUMMARY Part 1
South Australia
Australia
% change from
% change from
Indicator
Period
Number
Previous
period
Same period
previous year
Number
Previous
period
Same period
previous year
SA as a % of Australia
Source
index
State accounts
Domestic final demand
Chain volume measures trend ($m)
Mar qtr 04
14,139
0.5
4.0
201,461
1.3
5.6
7.0
1
Private final consumption expenditure
Current prices trend ($m)
Mar qtr 04
8,976
1.9
6.5
122,026
1.9
7.3
7.4
Chain volume measures trend ($m)
Mar qtr 04
8,531
1.3
4.6
118,127
1.6
6.2
7.2
1
Private gross fixed capital formation
Current prices trend ($m)
Mar qtr 04
2,720
-2.3
3.5
42,650
1.1
8.5
6.4
Chain volume measures trend ($m)
Mar qtr 04
2,739
-1.9
4.0
42,024
1.2
7.8
6.5
1
Compensation of employees
Current prices trend ($m)
Mar qtr 04
5,989
0.5
2.5
95,510
1.4
5.4
6.3
International accounts
Exports ($m)
Apr 04
627.7
1.0
20.8
9,254.5
0.5
6.4
6.8
2
Imports ($m)
Apr 04
397.1
-16.2
-12.0
10,823.8
-5.2
-1.1
3.7
2
Consumption and investment
Retail turnover
Current prices original ($m)
Apr 04
1,141.4
0.6
6.1
15,432.7
0.2
8.9
7.4
3
Current prices trend ($m)
Apr 04
1,162.7
0.3
5.0
15,898.9
0.2
7.7
7.3
3
Chain volume measures original ($m)
Mar qtr 04
3,206.0
-13.8
9.5
44,176.2
-13.7
12.9
7.3
3
New motor vehicle sales
Original (no.)
May 04
5,215
11.7
-1.1
78,279
9.8
0.0
6.7
4
Trend (no.)
May 04
5,174
-0.1
0.9
79,327
0.5
3.9
6.5
4
Private new capital expenditure
Current prices original ($m)
Mar qtr 04
799
-25.9
-10.9
11,085
-19.6
-4.8
7.2
5
Current prices trend ($m)
Mar qtr 04
883
-8.4
-13.1
12,591
-1.6
-1.4
7.0
5
Private new capital expenditure ($m)
2002-03
4,020
29.1
..
51,093
15.1
..
7.9
5
Tourist accommodation takings ($m)
Dec qtr 03
68.3
12.9
5.2
1,499.3
9.2
14.1
4.6
6
Production
Dwelling unit approvals
Original (no.)
Apr 04
799
-18.7
13.7
13,609
-10.1
-0.4
5.9
7
Trend (no.)
Apr 04
857
-1.2
1.1
14,156
-0.2
-0.5
6.1
7
Dwelling units commenced (no.)
Dec qtr 03
2,776
9.2
1.3
46,696
6.6
4.7
5.9
8
Value of non-residential building approvals- trend ($m)
Apr 04
73.4
-5.3
-13.2
1,170.2
-3.2
-13.8
6.3
7777
Value of total building activity
Commenced ($m)
Dec qtr 03
985.4
40.9
32.7
14,090.1
9.4
5.0
7.0
8
Work done ($m)
Dec qtr 03
750.3
11.7
23.4
13,844.8
8.0
13.4
5.4
8
Work yet to be done ($m)
Dec qtr 03
1,406.3
27.9
41.2
22,562.3
4.7
14.6
6.2
8
Value of engineering construction work done ($m)
Dec qtr 03
436.4
-1.1
-11.8
6,960.5
11.7
10.5
6.3
9
Manufacturing production
Red meat trend (tonnes)
Mar qtr 04
55,744
0.7
-7.6
759,470
2.4
-0.3
7.3
11
Mineral exploration expenditure (other than for petroleum) ($m)
Mar qtr 04
7.1
-26.0
18.3
167.3
-16.1
9.1
4.2
12




STATISTICAL SUMMARY Part 2
South Australia
Australia
% change from
% change from
Indicator
Period
Number
Previous
period
Same period
previous year
Number
Previous
period
Same period
previous year
SA as a % of Australia
Source index
Prices (a)
CPI- All groups (index no.)
Mar qtr 04
147.7
1.0
2.1
144.1
0.9
2.0
..
13
Price index of materials used in house building (index no.)
Mar qtr 04
138.3
0.7
1.5
134.4
0.6
2.7
..
14
Price index of materials used in building other than houses (index no.)
Mar qtr 04
126.1
0.3
1.9
126.9
0.2
2.3
..
14
Price index of established houses (index no.)
Mar qtr 04
227.1
3.0
22.8
251.3
2.5
17.9
..
15
Price index of project homes (index no.)
Mar qtr 04
168.3
2.1
7.4
155.8
1.4
7.7
..
15
Labour force and demography
Population (resident at end qtr) ('000)
Dec qtr 03
1,531.4
0.2
0.6
20,008.7
0.3
1.3
7.7
16
Natural increase of the population ('000)
Dec qtr 03
1,227.0
2.7
-17.3
31,374.0
11.9
2.6
3.9
16
Labour Force
Original ('000)
May 04
764.2
0.2
-0.4
10,204.3
-0.0
1.2
7.5
17
Trend ('000)
May 04
765.8
-0.0
-0.1
10,238.8
0.1
1.7
7.5
17
Employed persons
Original ('000)
May 04
716.1
0.1
-0.3
9,640.7
0.2
2.0
7.4
17
Trend ('000)
May 04
718.6
0.1
0.0
9,669.5
0.2
2.4
7.4
17
Participation rate
Original (b) (%)
May 04
61.3
0.1
-0.8
63.5
0.0
-0.2
..
17
Trend (b) (%)
May 04
61.4
-0.1
-0.6
63.7
0.0
0.1
..
17
Unemployment rate
Original (b) (%)
May 04
6.3
0.2
-0.1
5.5
-0.2
-0.7
..
17
Trend (b) (%)
May 04
6.2
-0.1
-0.1
5.6
0.0
-0.6
..
17
Job vacancies ('000)
Feb 04
5.5
37.6
-21.9
105.7
0.0
-5.0
5.2
18
Industrial disputes ('000 working days lost)
Mar qtr 04
4.9
11.4
133.3
76.8
-49.3
15.8
6.4
19
Income
Average weekly earnings (full-time; ordinary time)
Original ($)
Feb qtr 04
868.10
0.0
2.0
947.80
1.0
5.3
..
20
Trend ($)
Feb qtr 04
866.10
-0.1
2.7
948.00
1.0
4.9
..
20
Wage cost index (total hourly rate excluding bonuses)
(c) (index no.)
Mar qtr 04
123.9
0.7
4.0
123.7
0.8
3.6
..
21
Financial markets
Secured housing finance (d)
Original ($m)
Apr 04
623.4
-12.6
7.4
9,543.8
-13.9
2.7
6.5
22
Trend ($m)
Apr 04
639.4
0.2
5.8
9,758.2
-0.8
2.3
6.6
22
Finance commitments
Personal ($m)
Apr 04
392.3
-13.1
-0.7
6,289.0
-11.6
12.4
6.2
23
Commercial ($m)
Apr 04
827.6
-34.1
2.1
24,126.0
2.6
16.0
3.4
23
Lease ($m)
Apr 04
12.4
-31.1
-5.3
456.0
-18.8
-3.0
2.7
23
Interest rates (b)
Banks - new housing loans (%)
May 04
..
..
..
7.05
0.0
0.50
24
Banks - business loans
Small, medium businesses (e) (%)
May 04
..
..
..
8.85
0.0
0.50
24
Large business (%)
May 04
..
..
..
8.85
0.0
0.50
24

(a) Base year of each index 1989-90 = 100.
(b) Change is shown in terms of percentage points.
(c) Base year of index Sep 1997 = 100.
(d) Excludes alterations and additions. Includes refinancing.
(e) Rate for business loans over $50,000.

STATE SUMMARY

Source
Indicator
Period
NSW
Vic.
Qld
SA
WA
Tas.
NT
ACT
index

SELECTED INDICATORS
CPI- All groups(a) (index no.)
Mar qtr
145.0
143.5
145.4
147.7
139.6
143.0
139.0
143.9
13
Participation rate trend (%)
May 04
62.8
63.5
64.8
61.4
66.2
59.2
71.5
71.9
17
Unemployment rate trend (%)
May 04
5.4
5.6
6.0
6.2
5.1
6.6
4.9
3.6
17
Average weekly earnings (full-time adults; ordinary time) trend ($)
Feb qtr
990.00
955.00
886.70
866.10
947.80
835.40
934.80
1,070.40
20

SELECTED INDICATORS PER HEAD OF POPULATION(b)
State final demand
Chain volume measures trend (c)
($'000)
Mar qtr
10.1
10.1
9.6
9.2
10.3
8.6
13.9
16.9
1
Retail turnover
Current prices original ($)
Apr 04
787.9
740.8
790.1
745.4
766.5
700.4
769.8
935.6
3
Current prices trend ($)
Apr 04
805.7
771.0
821.7
759.3
782.2
701.9
798.3
970.4
3
New motor vehicle sales
trend (no. per '000 population)
May 04
3.8
4.2
4.4
3.4
3.7
3.1
4.0
3.7
4
Private new capital expenditure
Current prices trend ($)
Mar qtr
520.4
596.4
562.7
576.6
1,143.2
337.5
2,476.1
399.9
5
Dwelling unit approvals
Original (no. per '000 population)
Apr 04
0.520
0.771
0.856
0.522
0.806
0.606
0.463
0.753
7
Trend (no. per '000 population)
Apr 04
0.560
0.728
0.907
0.567
0.986
0.579
0.453
0.657
7
Secured housing finance (d) ($)
Apr 04
524.1
433.1
487.1
407.1
530.5
286.3
361.9
412.3
22

PERCENTAGE CHANGE FROM PREVIOUS PERIOD
State final demand
Chain volume measures trend (c)
Mar qtr
0.9
1.5
2.0
0.5
1.0
1.7
0.9
0.1
1
Retail turnover
Current prices original
Apr 04
0.9
-2.4
1.0
0.6
1.9
0.5
5.1
-1.0
3
Current prices trend
Apr 04
0.1
0.4
0.1
0.3
0.6
0.1
0.2
-0.0
3
New motor vehicle sales trend
May 04
0.2
0.4
1.2
-0.1
0.8
1.6
2.5
-0.1
4
Private new capital expenditure
Current prices trend (e)
Mar qtr
-0.9
-1.6
-2.1
-8.4
-0.4
0.0
-2.0
-8.5
5
Dwelling unit approvals
Original (%)
Apr 04
-5.0
0.1
-17.8
-18.7
-24.4
4.7
7.0
20.3
7
Trend (%)
Apr 04
2.3
-0.8
-1.0
1.2
-2.1
4.8
2.5
9.7
7
CPI- All groups (%)
Mar qtr
1.0
1.0
0.8
1.0
0.3
0.7
0.4
0.7
13
Participation rate trend (e)
May 04
0.1
0.1
0.0
-0.1
0.1
0.1
0.0
0.0
17
Unemployment rate trend (e)
May 04
0.0
0.0
-0.1
-0.1
-0.1
-0.1
0.2
-0.1
17
Average weekly earnings (full-time adults;ordinary time) trend
Feb qtr
1.0
1.0
1.3
-0.1
0.9
0.1
1.2
0.4
20
Secured housing finance (d)
Apr 04
-18.0
-7.5
-15.9
-12.6
-8.0
-12.2
-20.1
-13.4
22

(a) Base year of index 1989-90=100.
(b) The latest quarterly estimate of Australian resident population has been used to calculate ratios for subsequent periods.
(c) Reference year for chain volume measures is 2001-02.
(d) Excludes alterations and additions. Includes refinancing.
(e) Change is shown in terms of percentage points.




SOURCE INDEX FOR STATISTICAL & STATE SUMMARY TABLES

1
    Australian National Accounts: National Income, Expenditure and Product (Cat. no. 5206.0)—and ABS data available on request
2
    International Trade in Goods and Services (Cat. no. 5368.0) and International Merchandise Imports (Cat. no. 5349.0). Further detail available on request and in the associated datacubes.
3
    Retail Trade, Australia (Cat. no. 8501.0) Monthly
4
    Sales of New Motor Vehicles, Australia (Cat. no. 9314.0.55.001) Monthly
5
    Private New Capital Expenditure and Expected Expenditure, Australia (Cat. no.5625.0) Quarterly - and Ausstats data.
6
    Tourist Accommodation, Australia (Cat. no. 8635.0) Quarterly
7
    Building Approvals, Australia (Cat. no. 8731.0) Monthly
8
    Building Activity, Australia (Cat. no. 8752.0) Quarterly
9
    Engineering Construction Activity, Australia (Cat. no. 8762.0) Quarterly
10
    Manufacturing Production, Australia (Cat. no. 8301.0) Quarterly
11
    Livestock Products, Australia (Cat. no. 7215.0) Quarterly—and ABS data available on request.
12
    Actual and Expected Private Mineral Exploration, Australia (Cat. no. 8412.0) Quarterly
13
    Consumer Price Index (Cat. no. 6401.0) Quarterly
14
    Producer Price Indexes, Australia (Cat. no. 6427.0) Quarterly
15
    House Price Indexes: Eight Capital Cities (Cat. no. 6416.0) Quarterly
16
    Australian Demographic Statistics (Cat. no. 3101.0) Quarterly
17
    Labour Force, Australia (Cat. no. 6202.0) Monthly
18
    Job Vacancies, Australia (Cat. no. 6354.0) Quarterly
19
    Industrial Disputes, Australia (Cat. no. 6321.0) Monthly
20
    Average Weekly Earnings, Australia (Cat. no. 6302.0) Quarterly
21
    Wage Cost Index, Australia (Cat. no. 6345.0) Quarterly
22
    Housing Finance for Owner Occupation, Australia (Cat. no. 5609.0) Monthly
23
    Lending Finance, Australia (Cat. no. 5671.0) Monthly—and ABS data available on request.
24
    Reserve Bank of Australia Bulletin



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