8731.0 - Building Approvals, Australia, May 2008 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/07/2008
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MAY KEY POINTS
TOTAL DWELLING UNITS
PRIVATE SECTOR HOUSES
PRIVATE SECTOR OTHER DWELLING UNITS
VALUE OF BUILDING APPROVED
CHANGES IN THIS ISSUE
As noted last month, this release has used autoregressive integrated moving average (ARIMA) modelling where appropriate for individual time series. The revision properties of the seasonally adjusted and trend estimates can be improved by the use of ARIMA modelling. ARIMA modelling relies on the characteristics of the series being analysed to project future period data. The projected values are temporary, intermediate values, that are only used internally to improve the estimation of the seasonal factors. The projected data do not affect the original estimates and are discarded at the end of the seasonal adjustment process. The ARIMA model is assessed as part of the annual reanalysis and following the 2008 annual reanalysis 61% of the applicable Building Approval series will use an ARIMA model. For more information on the details of ARIMA modelling see feature article: Use of ARIMA modelling to reduce revisions in the October 2004 issue of Australian Economic Indicators (cat. no. 1350.0).
The June 2008 edition of 8731.0 - Building Approval Australia will have leading zeros removed from the start of time series excel spreadsheets. The spreadsheets affected are 11-28 and 42-73.
REVISIONS THIS MONTH
Revisions to the total number of dwelling units approved in this issue are:
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Paul Pamment on Adelaide (08) 8237 7648.
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