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1307.4 - South Australian Economic Indicators, Sep 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2004   
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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 on this page.


IMPORTANT CHANGES

The June Quarter 2004 figure for Sawn Timber production will be the last time this data is compiled. This data is published in Table 15 (refer to the Data Cube available within the Related Links section). At this stage, it is unlikely that alternative data will be available from the ABS in the future.

June quarter 2004 is the last quarter that the ABS will be compiling the Price Index of Materials Used in Building Other than House Building. This data appears in the Statistical Summary (Part 2) of this publication. Users of this index, who are interested in discussing alternative indicators of price changes for these commodities, can contact Steve Whennan on Canberra (02) 6252 6251, or email <steve.whennan@abs.gov.au>.



INTERNATIONAL TRADE

The value of South Australian merchandise exports (in original terms) for the month of June 2004 was $667.1m. This was a decrease of 3.2% from the previous month and 14.7% more than the value of exports in June 2003 ($581.9m).

The value of South Australian merchandise imports (in original terms) for June 2004 was $454.7m. This was a decrease of 3.8% from the $472.5m recorded in May 2004, and 14.1% more than the June 2003 figure of $398.6m.

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 0.6% from May 2004 ($1,173.2m) to $1,180.4m in June 2004. In the twelve month period from June 2003, total retail turnover increased by 6.4% from $1,109.8m.

Retail Turnover

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


July 2004 saw a total of 5,119 new motor vehicle sales, a drop of 0.6% on the previous month. The July 2004 figure is 2.3% lower than the new vehicles sales recorded in July 2003 (5,238).

New Motor Vehicle Sales

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


HOUSING

In June 2004 the estimated total number of dwelling units approved in South Australia was 906, slightly higher than May 2004 (901) and also higher than the estimated total approved in June 2003 (867).

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 June quarter 2004 was 148.6, an increase of 3.0% on the level recorded for the same period in 2003 and up 0.6% on the March quarter 2004.

Consumer Price Index

Graph - Consumer Price Index
- SeeConsumer Price Index, Australiacat. no. 6401.0)


LABOUR FORCE AND DEMOGRAPHY

The estimate of employed persons in South Australia was 720,400 in July 2004, slightly higher than the peak in July 2003 (719,600). The total number of persons employed full-time in South Australia was 496,500 in July 2004, lower than the July 2003 estimate of 504,100.

Employed Persons

Graph - Employed Persons
The estimate of the unemployment rate for South Australia was 6.2% in July 2004, the same as in July 2003. The estimate of the participation rate in South Australia was 61.5% in July 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, Australiacat. no. 6202.0)


FINANCIAL MARKETS

The value of secured housing finance commitments (excluding alterations and additions, and including refinancing) was $598.8m in May 2004. This was a decrease of 1.2% from the previous month and 6.4% less than the value of commitments in June 2003 ($639.5m).

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 ($m)
Jun 04
667.1
-3.2
14.7
10,389.3
3.3
17.8
6.4
2
Imports ($m)
Jun 04
454.7
-3.8
14.1
12,319.2
12.0
14.9
3.7
2
Consumption and investment
Retail turnover
Current prices original ($m)
Jun 04
1,125.5
-0.2
7.7
15,489.7
-0.2
10.3
7.3
3
Current prices trend ($m)
Jun 04
1,180.4
0.6
6.4
16,177.3
0.7
7.9
7.3
3
Chain volume measures original ($m)
Jun qtr 04
3,337.6
2.2
4.1
45,921.3
2.4
7.6
7.3
3
New motor vehicle sales
Original (no.)
July 04
4,949
-23.1
-6.6
77,035
-20.8
-3.1
6.4
4
Trend (no.)
July 04
5,119
-0.6
-2.3
78,488
-0.4
-0.0
6.5
4
Private new capital expenditure
Current prices original ($m)
Jun qtr 04
1,054
31.4
-7.8
13,620
23.0
2.2
7.7
5
Current prices trend ($m)
Jun qtr 04
951
0.5
-10.4
12,632
-0.5
-2.0
7.5
5
Private new capital expenditure ($m)
2003-04
3,906
-2.5
51,244
0.8
7.6
5
Tourist accommodation takings ($m)
Mar qtr 04
68.6
0.4
16.1
1,398.6
-6.7
12.4
4.9
6
Production
Dwelling unit approvals
Original (no.)
Jun 04
1,081
23.5
20.1
14,950
-0.9
1.9
7.2
7
Trend (no.)
Jun 04
906
0.6
4.5
14,650
0.2
-0.4
6.2
7
Dwelling units commenced (no.)
Mar qtr 04
2,287
-17.5
-3.3
40,304
-12.9
4.7
5.7
8
Value of non-residential building approvals- trend ($m)
Jun 04
73.4
-1.9
-29.7
1,220.6
-3.5
-13.7
6.0
7777
Value of total building activity
Commenced ($m)
Mar qtr 04
564.0
-42.8
-0.5
13,058.9
-7.8
12.6
4.3
8
Work done ($m)
Mar qtr 04
718.0
-3.2
24.2
12,752.4
-7.4
14.0
5.6
8
Work yet to be done ($m)
Mar qtr 04
1,282.1
-9.4
28.6
23,600.3
3.9
14.9
5.4
8
Value of engineering construction work done ($m)
Mar qtr 04
368.7
-16.0
-18.4
6,566.1
-6.0
10.7
5.6
9
Manufacturing production
Red meat trend (tonnes)
Jun qtr 04
55,265
-0.3
-3.9
774,010
1.7
5.4
7.1
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.)
Jun qtr 04
148.6
0.6
3.0
144.8
0.5
2.5
..
13
Price index of materials used in house building (index no.)
Jun qtr 04
140.6
1.7
2.8
136.1
1.3
3.0
..
14
Price index of materials used in building other than houses (index no.)
Jun qtr 04
129.7
2.9
3.7
130.7
3.0
4.0
..
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)
Jul 04
764.8
-0.5
0.1
10,205.1
-0.1
1.9
7.5
17
Trend ('000)
Jul 04
768.4
0.1
0.1
10,243.9
0.1
1.8
7.5
17
Employed persons
Original ('000)
Jul 04
720.1
-0.0
-0.0
9,670.4
0.2
2.4
7.4
17
Trend ('000)
Jul 04
720.4
0.1
0.1
9,672.2
0.1
2.4
7.4
17
Participation rate
Original (b) (%)
Jul 04
61.2
-0.4
-0.5
63.3
-0.2
0.2
..
17
Trend (b) (%)
Jul 04
61.5
0.0
-0.5
63.6
0.0
0.2
..
17
Unemployment rate
Original (b) (%)
Jul 04
5.8
-0.5
0.0
5.2
-0.3
-0.5
..
17
Trend (b) (%)
Jul 04
6.2
0.0
0.0
5.6
0.0
-0.5
..
17
Job vacancies ('000)
May 04
6.0
9.6
4.0
122.7
16.1
23.4
4.9
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 ($)
May qtr 04
876.00
0.9
1.9
949.50
0.2
3.1
..
20
Trend ($)
May qtr 04
873.30
0.5
1.6
952.50
0.7
3.8
..
20
Wage cost index (total hourly rate excluding bonuses)
(c) (index no.)
Jun qtr 04
124.2
0.3
4.5
124.3
0.6
4.2
..
21
Financial markets
Secured housing finance (d)
Original ($m)
Jun 04
606.3
-2.8
-6.8
10,250.5
-0.7
0.1
5.9
22
Trend ($m)
Jun 04
598.8
-1.2
-6.4
9,749.7
0.3
-4.8
6.1
22
Finance commitments
Personal ($m)
Jun 04
427.0
2.4
-1.7
7,302.0
8.3
12.5
5.8
23
Commercial ($m)
Jun 04
1,287.5
8.0
16.8
26,683.0
16.6
0.2
4.8
23
Lease ($m)
Jun 04
21.5
69.3
15.6
603.0
30.0
-6.5
3.6
23
Interest rates (b)
Banks - new housing loans (%)
Jul 04
..
..
..
7.05
0.0
0.50
..
24
Banks - business loans
Small, medium businesses (e) (%)
Jul 04
..
..
..
8.85
0.0
0.50
..
24
Large business (%)
Jul 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.)
Jun qtr
145.5
143.9
146.3
148.6
141.0
144.3
139.6
144.8
13
Participation rate trend (%)
Jul 04
62.5
63.4
65.0
61.5
65.5
59.5
70.9
71.2
17
Unemployment rate trend (%)
Jul 04
5.6
5.7
5.7
6.2
5.0
6.9
6.6
3.4
17
Average weekly earnings (full-time adults; ordinary time) trend ($)
May qtr
995.80
955.30
890.40
873.30
956.50
845.50
949.20
1,067.30
20

SELECTED INDICATORS PER HEAD OF POPULATION(b)
State final demand
Chain volume measures trend (c)
($'000)
Mar qtr
10.1
10.1
9.6
9.2
10.3
8.6
13.9
16.9
1
Retail turnover
Current prices original ($)
June 04
785.6
733.1
818.7
735.0
763.4
687.3
870.5
962.7
3
Current prices trend ($)
June 04
826.3
769.7
843.0
770.8
799.4
711.6
835.4
979.3
3
New motor vehicle sales
trend (no. per '000 population)
July 04
3.8
5.1
5.2
11.2
2.6
15.5
7.7
2.3
4
Private new capital expenditure
Current prices trend ($)
Jun qtr
549.3
572.2
588.0
621.0
1,102.6
381.3
2,345.2
412.3
5
Dwelling unit approvals
Original (no. per '000 population)
Jun 04
0.550
0.735
0.993
0.706
1.095
0.488
0.700
0.598
7
Trend (no. per '000 population)
Jun 04
0.581
0.745
0.869
0.588
1.030
0.596
0.589
0.846
7
Secured housing finance (d) ($)
Jun 04
587.2
449.9
541.2
395.9
531.7
290.2
376.4
419.1
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
Jun 04
-1.7
-0.6
2.1
-0.2
-0.0
1.5
7.3
0.6
3
Current prices trend
Jun 04
0.9
0.1
0.9
0.6
0.9
0.4
1.5
0.4
3
New motor vehicle sales trend
July 04
-0.8
-1.0
0.3
-0.6
0.6
0.3
-1.9
0.5
4
Private new capital expenditure
Current prices trend (e)
Jun qtr
2.7
-2.9
1.5
0.5
-2.6
4.0
-1.1
-2.9
5
Dwelling unit approvals
Original (%)
Jun 04
-4.6
-8.2
25.6
23.5
-0.5
-23.8
4.5
-73.7
7
Trend (%)
Jun 04
-1.1
-0.1
-0.1
0.6
0.6
2.1
8.5
5.5
7
CPI- All groups (%)
Jun qtr
0.3
0.3
0.6
0.6
1.0
0.9
0.4
0.6
13
Participation rate trend (e)
Jul 04
-0.1
0.0
0.0
0.0
-0.1
0.1
-0.1
-0.2
17
Unemployment rate trend (e)
Jul 04
0.1
0.1
-0.1
0.0
-0.1
0.1
0.5
-0.1
17
Average weekly earnings (full-time adults;ordinary time) trend
May qtr
0.8
0.5
0.8
0.5
0.9
0.8
1.3
0.0
20
Secured housing finance (d)
Jun 04
-5.1
2.5
6.6
-2.8
-1.8
-5.6
9.4
-4.2
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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