Business Indicators, Australia

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Quarterly estimates of private sector sales, wages, profits and inventories

Reference period
June 2021
Released
30/08/2021

Key statistics

Current price estimates for the June quarter 2021:

  • Company gross operating profits rose 7.1% seasonally adjusted 
  • Wages and salaries rose 2.0% seasonally adjusted 

Chain volume estimates for the June quarter 2021:

  • Inventories rose 0.2% seasonally adjusted
 Mar Qtr 21 to Jun Qtr 21Jun Qtr 20 to Jun Qtr 21
%%
Sales of goods and services (Chain volume measures)  
 Manufacturing  
  Trend

na

na

  Seasonally Adjusted

-0.2

8.1

 Wholesale trade  
  Trend

na

na

  Seasonally Adjusted

0.2

13.8

Inventories (Chain volume measures)  
 Trend

na

na

 Seasonally Adjusted

0.2

2.4

Company gross operating profits  
 Trend

na

na

 Seasonally Adjusted

7.1

5.5

Wages and salaries  
 Seasonally Adjusted

2.0

8.1

*na - not available. Trend estimates have been suspended due to the impacts of COVID-19

 

Inventories

Trend estimates have been suspended

 

Company gross operating profits

Trend estimates have been suspended

 

June key points

Chain volume estimates

The seasonally adjusted estimate for:

  • Inventories rose 0.2% in the June quarter 2021.
  • Manufacturing sales of goods and services fell 0.2% this quarter.
  • Wholesale trade sales of goods and services rose 0.2%.

Current price estimates

The seasonally adjusted estimate for:

  • Company gross operating profits rose 7.1%.
  • Wages and salaries rose 2.0%.

Notes on release

Comparison between company gross operating profits and gross operating surplus

Valuation 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. The IVA for the June quarter 2021 is $5,200m which is $1,448m higher than the March quarter 2021 IVA of $3,752m.

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 CGOP and GOS. 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.

Suspension of trend series

The trend series attempts to measure underlying behaviour in business activity. In the short term, this measurement will be significantly affected by changes to regular patterns in spending that will occur during this time, as certain businesses are restricted from trading for example. If the trend estimates in this publication were to be calculated without fully accounting for this irregular event, they would likely provide a misleading view of underlying business activity.

It may be some time before the underlying trend in business activity can be accurately estimated. The Business Indicators trend series have therefore been suspended and will be reinstated when more certainty emerges in the underlying trend in business activity.

Analysis by industry

​​​​​​​Featured series

The following graphs and commentary refer to seasonally adjusted estimates for sales of goods and services and inventories in volume terms, and wages and salaries and company gross operating profits in current price terms. Trend estimates have been suspended from June quarter 2019 onwards for all series due to the impacts of coronavirus (COVID-19).

Total all industries

Mining

Manufacturing

Electricity, gas, water and waste services

Construction

Wholesale trade

Retail trade

Accommodation and food services

Transport, postal and warehousing

Information media and telecommunications

Financial and insurance services

Rental, hiring and real estate services

Professional, scientific and technical services

Administrative and support services

Education and training

Health care and social assistance

Arts and recreation services

Other services

Data downloads

Table 1. Inventories, chain volume measures

Table 2. Inventories, chain volume measures, percentage change from previous quarter

Table 3. Inventories, current prices

Table 4. Income from sales of goods and services, chain volume measures

Table 5. Income from sales of goods and services, chain volume measures, percentage change from previous quarter

Table 6. Income from sales of goods and services, current prices

Table 7. Income from sales of goods and services by state, current prices

Table 8. Income from sales of goods and services by state, current prices, percentage change from previous quarter

Table 9. Company profits before income tax, current prices

Table 10. Company profits before income tax, current prices, percentage change from previous quarter

Table 11. Company gross operating profits, current prices

Table 12. Company gross operating profits, current prices, percentage change from previous quarter

Table 13. Unincorporated gross operating profits, current prices

Table 14. Unincorporated gross operating profits, current prices, percentage change from previous quarter

Table 15. Business gross operating profits, current prices

Table 16. Business gross operating profits, current prices, percentage change from previous quarter

Table 17. Wages and salaries, current prices

Table 18. Wages and salaries, current prices, percentage change from the previous quarter

Table 19. Wages and salaries by state, current prices

Table 20. Wages and salaries by state, current prices, percentage change from previous quarter

Table 21. Sales/wages and salaries ratio, current prices, original

Table 22. Business gross operating profits/sales ratio, current prices, original

Table 23. Inventories/sales ratio, current prices, original

Table 24. Manufacturing subdivision, income from sales of goods and services, chain volume measures

Table 25. Manufacturing subdivision, income from sales of goods and services, current prices

Table 26. Manufacturing subdivision, inventories, chain volume measures

Table 27. Manufacturing subdivision, inventories, current prices

Table 28. Manufacturing subdivision, company profits before income tax, current prices, original

Table 29. Manufacturing subdivision, company gross operating profits, current prices, original

All time series spreadsheets

Previous catalogue number

This release previously used catalogue number 5676.0.

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