The National Income Forecasting (NIF) Model was jointly developed in the early 1970's by the Treasury and the then Commonwealth Bureau of Census and Statistics (forerunner of the Australian Bureau of Statistics). Over the subsequent years a number of versions of NIF were released following improvements to the underlying model. 1988 saw the final release of the NIF model.
The research on the present Treasury Model (TRYM) model began in 1990, partly in response to feedback on the NIF model. However, it was also motivated by a desire for a smaller, more transparent model than NIF88 with a greater focus on internal consistency. With TRYM replacing the NIF model most of the 500 NIF series became redundant. However, a smaller number of series (around 190) were retained as they were not covered within the TRYM model or were seen by users as having some additional value, at that time.
The introduction of new National Account benchmarks in the September quarter 2005 highlighted quality issues with some of the NIF series in the Modellers' Database. This resulted in a wider review of all NIF series. The review has investigating the models, assumptions and input data currently being used to create the NIF series. The NIF data was being estimated in the absence of any recognised statistical or conceptual framework. This created difficulties in defining what the scope of certain series should be. Without a clear scope estimating reliable data is quite difficult. Many of the NIF series were still referring to concepts relevant when the model was originally developed in the 1970's. For example, many of the NIF series are still on the System of National Accounts 1968 (SNA68) basis rather than the System of National Accounts 1993 (SNA93) basis currently used. As a result of this review, the publication of a number of series has been ceased.
Valentin M. Valdez
Database Administrator
Analysis Branch
Table numbers refer to 5206 pdf unless stated otherwise.
Table 01: NIF Private Final Consumption - Seasonally Adjusted
| NIF Series | Description | Source |
| VNEQ.UC_CRE$ | Rent and other dwelling services |
|
| VNEQ.AC_CON$ | Total HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, |
|
| VNEQ.UK90_CRE | Rent and other dwelling services (Chain Volume Measure) |
|
| VNEQ.AK90_CON | Total HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, (Chain Volume Measure) |
|
Table 02: NIF Demand And Expenditure - Seasonally Adjusted
| NIF Series | Description | Source |
| VNEQ.AC_DGC$ | Final consumption expenditure General government
Total national |
|
| VNEQ.AC_DGS$ | Final consumption expenditure General government
State and Local |
|
| VNEQ.AC_DIS$ | Statistical Discrepancy (E) |
|
| VNEQ.AC_SDI$ | Statistical Discrepancy (I) |
|
| VNEQ.AC_DPC$ | Public Gross Fixed Capital Formation - General Government Total national + Gross Fixed Capital Formation - Public corporations Commonwealth |
|
| VNEQ.AC_DPS$ | Public Gross Fixed Capital Formation - General Government - State and local + Public Gross Fixed Capital Formation - Public corporations - State and local |
|
| VNEQ.AK90_DGC | Final consumption expenditure - General government - Total national (Chain Volume Measure) |
|
| VNEQ.AK90_DGS | Final consumption expenditure - General government - State and Local (Chain Volume Measure) |
|
| VNEQ.AK90_DIS | Statistical Discrepancy (E) (Chain Volume Measure) |
|
| VNEQ.AK90_DPC | Public Gross Fixed Capital Formation - General Government - Total national + Public Gross Fixed Capital Formation - Public corporations - Commonwealth (Chain Volume Measure) |
|
| VNEQ.AK90_DPS | Public Gross Fixed Capital Formation - General Government - State and local + Public Gross Fixed Capital Formation - Public corporations - State and local (Chain Volume Measure) |
|
Table 03: NIF Private Gross Fixed Capital Formation - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AC_IDW$ | Private gross fixed capital formation - Dwellings - Total dwellings |
|
| VNEQ.AC_IFA$ | Private gross fixed capital formation - Intangible Fixed Assets -
Total Intangible fixed assets |
|
| VNEQ.AC_ILS$ | Private gross fixed capital formation - Livestock |
|
| VNEQ.AC_IPEC$ | Private gross fixed capital formation - Total machinery and equipment |
|
| VNEQ.AC_IPEU$ | Plant & Equipment : Unincorporated |
|
| VNEQ.AK90_IDW | Private gross fixed capital formation - Dwellings
- Total dwellings |
|
| VNEQ.AK90_IFA | Private gross fixed capital formation - Intangible Fixed Assets - Total Intangible fixed assets |
|
| VNEQ.AK90_ILS | Private gross fixed capital formation - Livestock |
|
| VNEQ.AK90_IOB | Private gross fixed capital formation - Total non-dwelling construction |
|
| VNEQ.AK90_IOBM | Other Building & Construction : Mining (cvm) |
|
| VNEQ.AK90_IPE | Private gross fixed capital formation - Total machinery and equipment (cvm) |
|
| VNEQ.AK90_IPEM | Plant & Equipment - Mining (cvm) |
|
| VNEQ.AK90_IRET | Private gross fixed capital formation Ownership transfer costs( cvm) |
- Table 6
- Deleted
- Can be found in TRYM
|
Table 04: NIF Depreciation & Deductions - Original
| NIF Series | Description | Derivation |
| VNEQ.AC_DEDW$ | Deductions from Gross Rent (Seasonally Adjusted) | Rent and other dwelling services T58 less Dwellings owned by persons T19 |
| VNEQ.UC_DC$ | Consumption of fixed capital for NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS (CHAIN VOLUME MEASURES) |
- Based on Table 70 (Consumption of fixed capital) 5204.0
|
| VNEQ.UC_DDW$ | Dwellings Owned by Persons
|
- Unpublished National Accounts Series*
|
| VNEQ.UC_DFIN$ | Private Financial Enterprises
|
- Unpublished National Accounts Series
|
VNEQ.UC_DFU$
| Farm Unincorporated Trading Enterprises |
- Unpublished National Accounts Series*
|
| VNEQ.UC_DTOT$ | Total Private excluding Dwellings Owned by Persons |
|
| VNEQ.UC_DU$ | Non-farm Unincorporated Trading Enterprises |
- Unpublished National Accounts Series*
|
Note: VNEQ.UC_DDW$ + VNEQ.UC_DFU$ + VNEQ.UC_DU$ = Table 36 HOUSEHOLD INCOME ACCOUNT Consumption of fixed capital
Table 05: NIF Interest Payments - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AC_IPDW$ | Uses of income - Property income payable - Interest on dwellings |
|
| VNEQ.AC_IPG$ | Uses of income - Property income payable - Total interest |
|
| VNEQ.AC_IPU$ | Uses of income - Property income payable - Property income payable by unincorporated enterprises
|
|
| VNEQ.UC_IPC$ | NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS |
- Treasury series SEP59 TO JUN89, From SEP89 Unpublished Financial Accounts series
|
| VNEQ.UC_IPCD$ | Uses of income - Property income payable -Consumer debt interest |
|
Table 06: NIF Product Aggregates - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AC_GFF$ | Gross agricultural product at basic prices |
|
| VNEQ.AC_GFM$ | Gross agricultural value added at producers' prices |
|
| VNEQ.AC_GFMX$ | Taxes less subsidies on products |
|
| VNEQ.AC_GNF$ | Gross Non-Farm Product at Factor Cost |
- Unpublished National Accounts Series
|
| VNEQ.AC_GNM$ | Non-Farm GDP current prices |
|
| VNEQ.AC_GTM$ | Current price GDP
Gross domestic product |
|
| VNEQ.AK90_GFM | INDUSTRY GROSS VALUE ADDED (CVM)- Agriculture, forestry and fishing - Agriculture. |
- Treasury series SEP59 TO JUN74, From SEP74 Table 16
|
| VNEQ.AK90_GNM | Gross non-farm product at market prices (cvm) |
|
| VNEQ.AK90_GTM | Volume measure Gross Domestic Product (cvm) |
|
| VNEQ.UQ_GCO | Crude Oil (orig) - gigalitres |
- Department of Industry Tourism and Resources Mining and Energy Table 1A. Petroleum Production, Australia
|
| VNEQ.UQ_GPE | Domestic Crude Oil & LPG Production (orig) - gigalitres |
|
Table 07: NIF Stocks Of Physical And Financial Assets - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AC_KC$ | End-year net capital stock NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS (current prices) |
- Based on Table 70 (End-year net capital stock) 5204
|
| VNEQ.AC_KOBC$ | Other Building & Structures : Corporate |
|
| VNEQ.AC_KPEC$ | Plant & Equipment : Corporate |
|
| VNEQ.AC_KSNP$ | Inventories - Private Non-Farm (current price) |
|
| VNEQ.UC_KDEB$ | Corporate Sector Debt Capital (Original) |
|
| VNEQ.AK90_KC | End-year net capital stock NON-FINANCIAL CORPORATIONS and FINANCIAL CORPORATIONS (cvm) |
- Based on Table 70 (End-year net capital stock)5204
|
| VNEQ.AK90_KMV | Motor Vehicles (cvm) |
- Treasury series SEP59 TO JUN89. From SEP89 based on Consumer durables Table 16 5204 and other unpublished National Accounts data and historical Treasury series.
|
| VNEQ.AK90_KOB | Other Building & Structures : Total (cvm) |
|
| VNEQ.AK90_KOD | Household Durables (cvm) |
- Treasury series SEP59 TO JUN89. From SEP89 Based on Consumer durables Table 16 5204 and other unpublished National Accounts data and historical Treasury series.
|
| VNEQ.AK90_KPE | End-year net capital stock - MACHINERY AND EQUIPMENT : Total (cvm) |
- Based on Table 69 (End-year net capital stock)5204
|
| VNEQ.AK90_KSNP | Inventories - Private Non-Farm (cvm) |
|
Table 08: NIF Increases in Stocks - Seasonally Adjusted ($ Millions)
| NIF Series | Description | Derivation |
| VNEQ.AC_SFRM$ | Changes in inventories - Public authorities and farm
|
|
| VNEQ.AC_SNNP$ | Changes in inventories - Private Non-Farm
|
|
| VNEQ.AC_SVA$ | Stock Valuation Adjustment - Total |
- Unpublished National Accounts Series
|
| VNEQ.AC_SVAC$ | Stock valuation adjustment - Excluding marketing authorities (Current price) |
- Unpublished National Accounts Series
|
| VNEQ.AK90_SFRM | Changes in inventories - Public authorities and farm (cvm) |
- Treasury series SEP59 TO JUN89. From SEP89 Table 22.
|
| VNEQ.AK90_SNNP | Changes in inventories - Private Non-Farm (cvm) |
- Treasury series SEP59 TO JUN89. From SEP89 Table 22.
|
Table 09: NIF Imports And Exports Of Goods And Services - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AC_MEG$ | Imports : Endogenous goods |
|
| VNEQ.AC_MGS$ | Imports of goods and services |
|
| VNEQ.UK90_MCA | Imports : Civil aircraft (Original) |
- Unpublished National Accounts Series
|
| VNEQ.AK90_MEG | Imports : Endogenous goods (cvm) |
|
| VNEQ.AK90_MPE | Imports : Petroleum (cvm)
|
- Treasury series SEP59 TO JUN89. From SEP89 unpublished National Accounts Series
|
| VNEQ.AK90_MSR | Imports : Services (cvm) |
- unpublished National Accounts Series
|
| VNEQ.AK90_MGS | Imports of goods and services (cvm) |
|
| VNEQ.AC_XGS$ | Exports of goods and services |
|
| VNEQ.AK90_XGS | Exports of goods and services (cvm) |
|
| VNEQ.AC_XNF$ | Exports : Non-Farm Goods |
- unpublished National Accounts Series
|
| VNEQ.AC_XSR$ | Exports : Services |
- unpublished National Accounts Series
|
| VNEQ.AK90_XNF | Exports : Non-Farm Goods (cvm) |
- Treasury series SEP69 TO JUN74. From SEP89 unpublished National Accounts Series
|
| VNEQ.AK90_XSR | Exports : Services (cvm) |
- unpublished National Accounts Series
|
Table 10: NIF Labour Market - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AN_NFE | Farm Employment |
|
| VNEQ.AN_NLF | Civilian Labour Force |
|
| VNEQ.AN_NNE | Non-Farm Employment |
|
| VNEQ.AN_NNS | Non-Farm Employers & Self Employed |
|
| VNEQ.AN_NNW | Non-Farm Civilian Wage & Salary Earners |
|
| VNEQ.AN_NUN | Unemployment |
|
| VNEQ.AN_NVA | Job Vacancies |
|
| VNEQ.UN_NAP | Civilian Population Aged 15 Years & Over (original) |
|
| VNEQ.UN_NDF | Defence Personnel (original) |
|
| VNEQ.UN_NPOP | Population (original) |
|
Table 11: NIF Implicit Price Deflators - Seasonally Adjusted (NOTE Base=1 not Base=100)
| NIF Series | Description | Derivation |
| VNEQ.AI90_PDGC | Final consumption expenditure - General government - Total National |
|
| VNEQ.AI90_PDGS | Final consumption expenditure - General government - State & Local |
|
| VNEQ.AI90_PDPC | Public gross fixed capital formation - Public corporations - Commonwealth |
|
| VNEQ.AI90_PDPS | Public gross fixed capital formation - Public corporations - State & Local |
|
| VNEQ.AI90_PGNM | Non-farm GDP-implicit price deflator |
|
| VNEQ.UI80_PGCO | Crude Oil at Domestic Prices (original) |
|
| VNEQ.UI90_PCONF | World Consumption (original) - Ratio |
|
| VNEQ.UI90_PCRE | Household Final Consumption Expenditure : Rent |
- Based on Rent and other dwelling services from Table 21 and Table 58
|
| VNEQ.AI90_PCMV | Household Final Consumption Expenditure : Purchase of vehicles |
- Based on Purchase of vehicles from Table 21 and Table 58
|
| VNEQ.AI90_PCNDX | Private Final Consumption Expenditure : Non-Durables |
|
| VNEQ.AI90_PCOD | Private Final Consumption Expenditure : Other durables |
|
| VNEQ.AI90_PCON | Household Final Consumption Expenditure : Total |
- Based on Total from Table 21 and Table 58
|
| VNEQ.UI90_PMCA | Imports of Goods and Services : Civil Aircraft(original) |
|
| VNEQ.AI90_PMEG | Imports of Goods and Services : Endogenous Goods |
|
| VNEQ.AI90_PMGS | Imports of Goods and Services |
|
| VNEQ.AI90_PMPE | Imports of Goods and Services : Petroleum |
- Treasury series SEP59 TO JUN89. From SEP89 unpublished National Accounts Series
|
| VNEQ.AI90_PMSR | Imports of Goods and Services : Services |
|
| VNEQ.AI90_PIDW | Private Gross Fixed Capital Formation - Dwellings - Total dwellings |
|
| VNEQ.AI90_PIOB | Private Gross Fixed Capital Formation - Private business investment - Non-dwelling construction - Total non-dwelling construction |
|
| VNEQ.AI90_PIPE | Private Gross Fixed Capital Formation - Private business investment - Machinery and equipment |
|
| VNEQ.AI90_PIRET | Gross Fixed Capital Formation : Real Estatet/ferExpense |
|
| VNEQ.AI90_PKSN | Private non-farm inventories |
|
Table 12: NIF Interest Rates - Original (Percent)
| NIF Series | Description | Derivation |
| VNEQ.UN_RUS | London 90 Day Eurodollar |
|
| VNEQ.UN_RE | Expected Three Month Holding Yield on Two Year Bonds |
|
| VNEQ.UN_RFD | Major Trading Bank Fixed Deposits |
|
| VNEQ.UN_RAD | Major Trading Bank Advances |
|
| VNEQ.UN_RCB | Commercial Bills |
|
| VNEQ.UN_RCD | Certificates of Deposits |
|
| VNEQ.UN_RDB | Two Year Debentures |
|
| VNEQ.UN_RGS | Two Year Bond Theoretical Yield |
|
| VNEQ.UN_RMM | Authorised Money Market Dealers: deposits (weighted average) |
|
| VNEQ.UN_RSM | Savings Bank Mortgages |
|
Table 13: NIF Tax Rates - Original (Percent)
| NIF Series | Description | Derivation |
| VNEQ.UN_RPR | Payroll Tax Rate |
- Treasury series SEP59 TO JUN99. From SEP99 Payroll Tax (Table 39) / Wages & salaries (Table 18)
|
| VNEQ.UN_RTC | Corporate Trading Enterprises |
- Treasury series SEP59 TO JUN95. From SEP95 www.ato.gov.au
|
Table 14: NIF Ratios - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AN_RFY | Incomes : Annual Farm Income per Head |
|
| VNEQ.AN_RNY | Incomes : Annual Non-Farm Income per Head |
|
| VNEQ.AN_RNU | Labour Market : Total Unemployment |
|
| VNEQ.UN_RDP | Incomes : Dividends paid Overseas to YDPC$ |
|
| VNEQ.UN_RFIN | Building & Construction to Plant & Equipment by pfe |
|
Table 15: NIF Taxes & Transfers - Seasonally Adjusted ($ million)
| NIF Series | Description | Derivation |
| VNEQ.AC_TCB$ | Secondary income receivable - Social benefits receivable - Social assistance benefits |
|
| VNEQ.AC_TCD$ | Taxes on international trade |
- Treasury series SEP66 TO JUN72. From SEP72 Table 39
|
| VNEQ.AC_TCGNPI$ | Secondary income receivable -
Current Grants to Non-Profit Institutions
|
|
| VNEQ.AC_TEX$ | Excise Duties |
- Treasury series SEP66 TO JUN72. From SEP72 Table 39
|
| VNEQ.AC_TIC$ | Indirect Taxes : Commonwealth Government |
|
| VNEQ.AC_TIS$ | Indirect Taxes : State & Local Government |
|
| VNEQ.AC_TIT$ | Indirect Taxes : Total |
- Total Taxes - Total taxes on income Table 39
|
| VNEQ.AC_TOD$ | Other Direct Taxes : Persons |
|
| VNEQ.AC_TOI$ | Other Indirect Taxes : Commonwealth Government |
|
| VNEQ.AC_TOTH$ | Net Other Income Tax (not PAYE) : Persons |
|
| VNEQ.AC_TPAY$ | Gross PAYE Instalments : Persons |
- Combined with VNEQ.AC_TREF$
|
| VNEQ.AC_TPD$ | Secondary income payable -Income tax payable |
|
| VNEQ.AC_TPR$ | Payroll Tax |
|
| VNEQ.AC_TREF$ | Refunds on PAYE Instalments to Persons |
- Combined with VNEQ.AC_TPAY$
|
| VNEQ.AC_TSA$ | Sales Tax |
|
| VNEQ.AC_TSB$ | --Uses of income - Primary income payable - Subsidies |
|
| VNEQ.AC_TSL$ | State & Local Government Indirect Taxes |
|
| VNEQ.UK81_TCBO | Cash Benefits (excludes Unemployment Benefit) (original) |
|
| VNEQ.UK81_TUBR | Weighted Average Unemployment Benefit (original) |
|
Table 16: NIF Incomes - Seasonally Adjusted ($ million)
| NIF Series | Description | Derivation |
| VNEQ.AC_YDPC$ | Net Dividends Paid in Australia by Corp Trading Ents |
|
| VNEQ.AC_YDRP$ | Dividends Received by Persons |
- Unpublished National Accounts series
|
| VNEQ.AC_YDW$ | Dwellings Rent Received by Persons |
- Unpublished National Accounts series
|
| VNEQ.AC_YPO$ | Other - Persons |
|
| VNEQ.AC_YTO$ | Capital transfers - Payable to non-residents |
|
| VNEQ.AC_YU$ | Non-Farm Unincorporate Trading Ents |
- Unpublished National Accounts series
|
| VNEQ.AC_YUF$ | Farm Unincorp Trading Ents |
- Unpublished National Accounts series
|
| VNEQ.AC_YUFXX$ | Net Rent Payments & Other t/fers by Farm Uncorp Ents |
|
| VNEQ.AC_YWF$ | Farm Wages Salaries & Supplements
|
- Treasury series SEP66 TO SEP90. From DEC90 Unpublished National Accounts series
|
| VNEQ.AC_YWN$ | Non-Farm Compensation of employees |
|
| VNEQ.AK90_YHD | Household disposable income (cvm) |
|
| VNEQ.AC_YOC$ | Gross Operating Surplus :
Private non-financial corporations |
|
| VNEQ.AC_YODP$ | Gross Operating Surplus - Dwellings Owned by Persons |
|
| VNEQ.AC_YODT$ | Gross Operating Surplus : Dwellings |
|
| VNEQ.AC_YOF$ | Gross Operating Surplus : Private financial corporations
|
|
| VNEQ.AC_YOFU$ | Gross Operating Surplus : Farm Unincorp Trading Ents |
|
| VNEQ.AC_YOFUX$ | Gross Operating Surplus : Farm corporate trading Ents |
|
| VNEQ.AC_YOP$ | Gross Operating Surplus :
Public non-financial corporations |
|
| VNEQ.AC_YOU$ | Gross Operating Surplus : Non-Farm Unincorp Trading Ents |
- Unpublished National Accounts series
|
| VNEQ.AC_YOC$ | Gross Operating Surplus :
Total Private non-financial corporations and Private financial corporations |
|
| VNEQ.AC_YOG$ | Gross Operating Surplus : General government |
|
Table 17: NIF Budget Sector - Seasonally Adjusted ($ million)
| NIF Series | Description | Derivation |
| VNEQ.AC_BAS$ | Advances to States |
|
| VNEQ.AC_BDPC$ | Public Gross Fixed Capital Forumation Total general government |
|
| VNEQ.AC_BTC$ | Taces on income - Resident corporations |
|
| VNEQ.AC_BTOR$ | Total gross income |
|
| VNEQ.AC_BTSB$ | Use of Income - Primary income payable - Subsidies |
|
| VNEQ.UC_BGS$ | Grants to States (original) |
|
| VNEQ.UC_BTCB$ | Secondary income receivable - Social benefits receivable -Social assistance benefits (original) |
|
Table 18: NIF Increase in Stocks - Seasonally Adjusted ($ millions)
| NIF Series | Description | Derivation |
| VNEQ.AC_SOPA$ | Changes in inventories - Public Authorities |
|
| VNEQ.AK90_SOPA | Changes in inventories - Public authorities (cvm) |
|
Table 19: NIF Miscellaneous - Seasonally Adjusted
| NIF Series | Description | Derivation |
| VNEQ.AN_NHT | Average Weekly Hours : total (hours) |
|
| VNEQ.AN_NHW | Average Weekly Hours : Wage & Salary Earners (hours) |
|
| VNEQ.UN_QTIM | Linear Time Trend (100 in June qtr 1966) |
|
| VNEQ.UI70_RTWIS | Trade Weighted Index Value of $AUS (original) |
|
| VNEQ.AC_WAR$ | Average non-farm compensation per employee per week ($) |
- Base on Table 41 and a standard 13 week quarter.
|
| VNEQ.AN_WGSH | Wages share of total factor income |
|
| VNEQ.AC_$LNTR | Net Transfer Receipts ($ million) |
|
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