5676.0 - Business Indicators, Australia, Jun 2008
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2008
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JUNE KEY POINTS
CHAIN VOLUME ESTIMATES
CURRENT PRICE ESTIMATES
CHANGES IN THIS ISSUE
This quarter there is a break in series to Mining and Total company gross operating profits trend, Mining and Total company profits before income tax trend and Mining and Total business gross operating profits trend. This is due to a very large once-off contract mining price rise on 1st April 2008 making it more difficult to reliably estimate the trend at the current end of the series. This situation will improve over time as more quarters become available.
COMPARISON BETWEEN COMPANY GROSS OPERATING PROFITS AND GROSS OPERATING SURPLUS
Price changes have had an impact on the value of inventories held by Australian businesses this quarter. An inventories valuation adjustment (IVA) is applied in the calculation of the gross operating surplus of private non-financial corporations (GOS) estimate in the Australian National Accounts. As prices for inventories have risen in the June quarter, growth in GOS will be lower after the application of the IVA. The IVA for the June quarter is $3181m which is $1890m higher than the March quarter IVA of $1291m. No adjustment is made to the company gross operating profits (CGOP) estimate in this publication and, as a result, users should exercise caution when comparing the two series. It should be noted that there are other differences between the two series. In particular, changes are made to GOS when annual benchmarks are applied and slightly different seasonal factors apply to the two series. Given this, while CGOP movements are an appropriate indicator for GOS, it is not the case that the two series will have equivalent seasonally adjusted movements from quarter to quarter.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Scott Johnston on Sydney (02) 9268 4241.
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