5676.0 - Business Indicators, Australia, Dec 2008
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/03/2009
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DECEMBER KEY POINTS
CHAIN VOLUME ESTIMATES
CURRENT PRICE ESTIMATES
INTERPRETING TREND ESTIMATES
The trend series in this publication should be interpreted with caution as, in addition to the seasonal influences usually evident in the December quarter, the underlying behaviour of a number of series may have been impacted by global economic conditions and the Federal Government's Economic Security Package implemented in December 2008.
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 December quarter, growth in GOS will be lower after the application of the IVA. The IVA for the December quarter is $4104m which is $384m higher than the September quarter IVA of $3720m. 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, the two series will not 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 Didier Rivet on Sydney (02) 9268 4900.
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