1307.4 - South Australian Economic Indicators, Mar 2004  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 01/03/2004   
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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 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 at the bottom of this page.


INTERNATIONAL TRADE

The value of South Australian merchandise exports (in original terms) for the month of December 2003 was $710.8m. This was an increase of 33.4% from the previous month and 14.8% less than the value of exports in December 2002 ($834.1m).

The value of South Australian merchandise imports (in original terms) for December 2003 was $416.5m. This was an increase of 2.3% from the $407.0m recorded in November 2003 and 24.2% less than the December 2002 figure of $549.4m.

Merchandise Exports and Imports
Graph - Merchandise Exports and Imports


- See International Merchandise Imports, Australia (Timeseries, Cat. 5439.0), International Trade in Goods and Services, Australia (Cat. 5368.0)


CONSUMPTION AND INVESTMENT

Retail Turnover continued its steady increase, with a positive movement of 0.8% from November 2003 ($1,131.1m) to December 2003 ($1,139.7m). The only retail sector to show a decrease over this period was Department Stores which fell 0.7% to $106.9m. In the twelve month period from December 2002, total retail turnover increased by 5.0% from $1,085.4m.

Retail Turnover
Graph - Retail Turnover


- See Retail Trade, Australia (Cat. 8501.0)

January 2004 saw a total of 5,243 new motor vehicle sales - a decrease of 0.4% on the previous month's figure of 5,265 vehicles, and 10.1% higher than the 4,760 vehicles recorded in January 2003.
New Motor Vehicle Sales




- See Sales of New Motor Vehicles, Australia (Cat. 9314.0.55.001)


HOUSING

In December 2003 the estimated total number of dwelling units approved in South Australia was 980, slightly higher than November 2003 (978) and 67 more than for the same period last year. The December 2003 figure was 16.3% higher than the low in April 2003 (843).

Dwelling Units Approved
Graph - Dwelling Units Approved


- See Building Approvals, Australia (Cat. 8731.0)


CONSUMER PRICE INDEX

The all groups consumer price index in Adelaide for the December quarter 2003 was 146.2, an increase of 3.3% on the level recorded for the same period in 2002 and up 0.6% on the September quarter 2003.

Consumer Price Index
Graph - Consumer Price Index


- See Consumer Price Index, Australia (Cat. 6401.0)


LABOUR FORCE AND DEMOGRAPHY

The estimate of employed persons in South Australia was 713,700 in January 2004, lower than the peak in June 2003 (717,900) but higher than the level of twelve months ago (706,300). The total number of persons employed full-time in South Australia was 487,200 in January 2004, lower than the January 2003 estimate of 495,300.

Employed Persons
Graph - Employed Persons


The estimate of the unemployment rate for South Australia was 6.5% in January 2004 and was higher than the January 2003 estimate of 6.0%. The estimate of the participation rate in South Australia was 61.6% in January 2004 compared with 61.3% in January 2003.

Employment Rate - Trend
Graph - Employment Rate - Trend


- See Labour Force, Australia (Cat. 6202.0)


FINANCIAL MARKETS

The value of secured housing finance commitments (excluding alterations and additions, and including refinancing) was $671.1m in December 2003. This was an decrease of 0.8% from the previous month and an increase of 31.1% over the value of commitments in December 2002 ($511.9m).

Secured Housing Finance Commitments (a)

Graph - Secured Housing Finance Commitments (a)
(a) excludes alterations and additions. Includes refinancing.


- See Housing Finance for Owner Occupation, Australia (Cat. 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 ($m)
Sep qtr 03
13,990
1.4
6.1
194,538
0.9
4.5
7.2
1
Private final consumption expenditure
Current prices trend ($m)
Sep qtr 03
8,602
0.8
5.5
117,070
1.4
5.6
7.3
Chain volume measures trend ($m)
Sep qtr 03
8,271
0.5
3.2
114,120
1.3
4.2
7.2
1
Private gross fixed capital formation
Current prices trend ($m)
Sep qtr 03
2,908
4.2
21.1
40,959
1.7
9.6
7.1
Chain volume measures trend ($m)
Sep qtr 03
2,891
4.2
21.2
40,155
1.2
7.9
7.2
1
Compensation of employees
Current prices trend ($m)
Sep qtr 03
5,955
0.9
5.9
9,313.0
1.4
6.3
6.4
International accounts
Exports ($m)
Dec 03
710.8
33.4
-14.8
9,254.1
6.7
-11.1
7.7
2
Imports ($m)
Dec 03
416.5
2.3
-24.2
11,033.0
8.3
-9.0
3.8
2
Consumption and investment
Retail turnover
Current prices original ($m)
Dec 03
1,463.9
23.4
5.6
20,090.8
23.6
8.5
7.3
3
Current prices trend ($m)
Dec 03
1,139.7
0.8
5.0
15,768.5
0.7
8.9
7.2
3
Chain volume measures original ($m)
Sep qtr 03
3,116.2
-0.8
0.6
43,503.2
3.7
5.4
7.2
3
New motor vehicle sales
Original ($m)
Jan 04
4,334
-19.8
8.7
64,797
-16.7
5.9
6.7
4
Trend ($m)
Jan 04
5,243
-0.4
10.1
76,437
-0.7
6.4
6.9
4
Private new capital expenditure
Current prices original ($m)
Sep qtr 03
956
-16.4
16.4
12,695
-5.4
9.1
7.5
5
Current prices trend ($m)
Sep qtr 03
1,102
3.7
23.8
12,961
0.7
7.7
8.5
5
Private new capital expenditure ($m)
2002-03
4,020
29.1
..
51,093
15.1
..
7.9
5
Tourist accommodation takings ($m)
Sep qtr 03
60.5
6.7
10.4
1,373.5
18.5
11.0
4.4
6
Production
Dwelling unit approvals
Original (no.)
Dec 03
1,193
43.4
35.3
13,961
-2.7
7.5
8.5
7
Trend (no.)
Dec 03
980
0.1
7.3
15,022
-1.3
4.1
6.5
7
Dwelling units commenced (no.)
Sep qtr 03
2,581
4.7
-4.8
44,195
13.7
-7.9
5.8
8
Value of non-residential building approvals- trend ($m)
Dec 03
120.4
-2.0
41.5
1,245.2
-5.1
-10.8
9.7
7
Value of total building activity
Commenced ($m)
Sep qtr 03
702.2
6.5
6.7
13,003.2
10.4
3.9
5.4
8
Work done ($m)
Sep qtr 03
676.2
5.1
11.3
13,027.4
10.2
9.8
5.2
8
Work yet to be done ($m)
Sep qtr 03
1,096.3
5.4
28.8
21,511.0
2.9
20.4
5.1
8
Value of engineering construction work done ($m)
Sep qtr 03
458.9
-9.2
49.8
6,310.4
-9.2
41.5
7.3
9
Manufacturing production
Red meat trend (tonnes)
Dec qtr 03
54,882
-1.3
-12.3
729,760
0.2
-7.7
7.5
11
Mineral exploration expenditure (other than for petroleum) ($m)
Sep qtr 03
9.3
-15.5
-4.1
179.7
-11.8
-1.7
5.2
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.)
Dec qtr 03
146.2
0.6
3.3
142.8
0.5
2.4
..
13
Price index of materials used in house building (index no.)
Dec qtr 03
137.3
-0.1
1.6
133.6
0.5
2.7
..
14
Price index of materials used in building other than houses (index no.)
Dec qtr 03
125.7
0.1
1.9
126.7
0.3
3.2
..
14
Price index of established houses (index no.)
Sep qtr 03
207.2
4.1
22.8
231.3
3.4
17.6
..
15
Price index of project homes (index no.)
Sep qtr 03
160.7
1.8
4.6
151.2
2.2
7.0
..
15
Labour force and demography
Population (resident at end qtr) ('000)
Jun qtr 03
1,527.4
0.1
0.6
19,881.5
0.3
1.2
7.7
16
Natural increase of the population ('000)
Jun qtr 03
1.4
-17.4
-0.1
31.8
13.1
12.0
4.4
16
Labour Force
Original ('000)
Jan 04
760.0
-2.0
1.5
10,172.4
-1.9
0.8
7.5
17
Trend ('000)
Jan 04
763.6
0.1
1.6
10,253.8
0.2
1.2
7.4
17
Employed persons
Original ('000)
Jan 04
706.7
-2.5
1.0
9,558.4
-2.3
1.3
7.4
17
Trend ('000)
Jan 04
713.7
0.0
1.0
9,679.7
0.2
1.8
7.4
17
Participation rate
Original (b) (%)
Jan 04
61.3
-1.3
0.3
63.3
-1.3
-0.7
..
17
Trend (b) (%)
Jan 04
61.6
0.0
0.3
63.8
0.0
-0.4
..
17
Unemployment rate
Original (b) (%)
Jan 04
7.0
0.5
0.4
6.0
0.4
-0.5
..
17
Trend (b) (%)
Jan 04
6.5
0.1
0.5
5.6
0.0
-0.5
..
17
Job vacancies ('000)
Nov 03
4.0
-37.4
-22.6
105.7
-2.9
10.0
3.8
18
Industrial disputes ('000 working days lost)
Nov 03
0.8
-75.8
33.3
36.9
-51.3
42.5
2.2
19
Income
Average weekly earnings (full-time; ordinary time)
Original ($)
Aug qtr 03
863.9
0.5
7.3
929.6
0.9
5.7
..
20
Trend ($)
Aug qtr 03
871.9
1.5
8.0
931.4
1.5
6.1
..
20
Wage cost index (total hourly rate excluding bonuses)
(c) index no.)
Sep qtr 03
121.6
1.6
4.0
121.6
1.2
3.6
..
21
Financial markets
Secured housing finance (d)
Original ($m)
Dec 03
713.0
6.8
32.4
10,892.4
0.0
28.4
6.5
22
Trend ($m)
Dec 03
671.1
-0.8
31.1
11,145.8
-0.7
29.6
6.0
22
Finance commitments
Personal ($m)
Dec 03
468.4
5.0
12.9
6,798.4
-0.5
19.2
6.9
23
Commercial ($m)
Dec 03
1,772.1
94.9
64.1
30,446.8
29.2
26.6
5.8
23
Lease ($m)
Dec 03
17.9
2.4
26.1
569.2
0.3
2.9
3.2
23
Interest rates (b)
Banks - new housing loans (%)
Jan 04
..
..
..
7.05
0.0
0.50
..
24
Banks - business loans
Small, medium businesses (e) (%)
Jan 04
..
..
..
8.85
0.0
0.50
..
24
Large business (%)
Jan 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.)
Dec qtr
143.6
142.1
144.2
146.2
139.2
142.0
138.5
142.9
13
Participation rate trend (%)
Jan 04
63.0
63.5
65.1
61.6
66.2
58.9
71.7
72.0
17
Unemployment rate trend (%)
Jan 04
5.3
5.4
5.9
6.5
5.8
6.7
4.5
3.9
17
Average weekly earnings (full-time adults; ordinary time) trend ($)
Aug qtr
974.0
933.4
861.9
871.9
931.5
836.4
910.5
1,064.9
20
SELECTED INDICATORS PER HEAD OF POPULATION(b)
State final demand
Chain volume measures trend (c)
($'000)
Sep qtr
9.9
9.8
9.2
9.2
10.0
8.1
13.6
16.8
1
Retail turnover
Current prices original ($)
Dec 03
1,033.0
979.1
1,042.4
958.4
993.3
908.8
880.1
1,239.8
3
Current prices trend ($)
Dec 03
814.0
753.6
833.3
746.2
769.4
704.2
798.3
966.7
3
New motor vehicle sales
trend (no. per '000 population)
Jan 04
3.7
4.1
4.0
3.4
3.6
3.2
3.2
3.8
4
Private new capital expenditure
Current prices trend ($)
Sep qtr
533.6
641.6
563.6
721.5
1,101.3
362.6
2,546.0
538.9
5
Dwelling unit approvals
Original (no. per '000 population)
Dec 03
0.583
0.670
0.852
0.781
0.980
0.488
0.227
0.446
7
Trend (no. per '000 population)
Dec 03
0.579
0.786
0.975
0.640
1.070
0.509
0.413
0.452
7
Secured housing finance(d) ($)
Dec 03
627.7
503.9
536.6
466.8
567.5
285.3
347.9
476.4
22
PERCENTAGE CHANGE FROM PREVIOUS PERIOD
State final demand
Chain volume measures trend (c)
Sep qtr
0.6
0.5
1.4
1.4
1.8
1.0
3.1
0.6
1
Retail turnover
Current prices original (%)
Dec 03
22.7
25.4
23.1
23.4
24.6
25.9
10.2
22.4
3
Current prices trend
Dec 03
0.6
0.5
1.0
0.8
0.2
0.5
0.5
-0.5
3
New motor vehicle sales trend (%)
Jan 04
-1.0
-0.6
-0.5
-0.4
-0.2
-3.0
-0.8
-1.2
4
Private new capital expenditure
Current prices trend(e) (%)
Sep qtr
-0.4
-0.4
-2.9
3.7
6.3
-10.8
4.8
4.8
5
Dwelling unit approvals
Original (%)
Dec 03
3.7
-7.1
-12.5
43.4
-4.5
-28.3
-10.0
15.2
7
Trend (%)
Dec 03
-1.7
-1.7
-1.4
0.1
1.2
-0.3
-3.5
-4.1
7
CPI- All groups (%)
Dec qtr
0.8
0.2
0.6
0.6
0.4
0.6
0.5
0.7
13
Participation rate trend (e) (%)
Jan 04
0.1
0.1
0.1
0.0
0.1
-0.1
0.6
0.1
17
Unemployment rate trend (e) (%)
Jan 04
-1.0
0.8
-1.3
1.6
-1.5
-0.1
-4.8
-1.7
17
Average weekly earnings (full-time adults;ordinary time) trend (%)
Aug qtr
1.0
1.5
2.3
1.5
2.0
0.7
1.6
1.3
20
Secured housing finance (%)
Dec 03
-2.7
4.8
-3.1
6.9
1.7
4.9
7.7
-3.6
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