Business Indicators, Australia

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

Reference period
September 2023
Released
4/12/2023

Key statistics

Seasonally adjusted, current price estimates for:

  • Company gross operating profits fell 1.3% 
  • Wages and salaries rose 2.7%  

Seasonally adjusted, chain volume estimate for:

  • Inventories rose 1.2%  
Key data items
 Jun Qtr 23 to Sep Qtr 23 (%)Sep Qtr 22 to Sep Qtr 23 (%)
Sales of goods and services (Chain volume measures)  
 Manufacturing  
  Trendnana
  Seasonally Adjusted0.1-0.2
 Wholesale trade  
  Trendnana
  Seasonally Adjusted-1.5-2.6
Inventories (Chain volume measures)  
  Trendnana
  Seasonally Adjusted1.21.2
Company gross operating profits  
  Trendnana
  Seasonally Adjusted-1.3-1.7
Wages and salaries  
  Seasonally Adjusted2.79.7
  1. na - not available. Trend estimates have been suspended due to the impacts of COVID-19.

Inventories

  1. Trend estimates have been suspended

Company gross operating profits

  1. Trend estimates have been suspended

Notes on release

Suspension of trend series

In the March quarter 2020, trend estimates were suspended due to the impacts of Coronavirus (COVID-19). The trend series attempts to measure underlying behaviour in business activity. In the short term, this measurement has been significantly affected by changes to regular patterns in business activity due to the Coronavirus pandemic. Therefore, the publication of trend estimates for this period may provide a misleading view of underlying business activity. With underlying business activity now being less affected by Coronavirus (COVID-19), the ABS will continue to review the trend series with a view to reinstating trend data in the near future. 

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 September quarter 2023 is -$1,413m which is $559m lower than the June quarter 2023 IVA of -$854m.

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.

Re-referencing of chain volume estimates

Each September quarter the reference and base year for chain volume estimates for the Business Indicators Survey are updated. A new base, 2021-22, has been introduced into the chain volume estimates which has resulted in minor revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2021-22. Additivity is preserved in the quarters of the reference year and subsequent quarters. Re-referencing affects the level of, but not the movements in, chain volume estimates.

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. 

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

Manufacturing subdivision data will no longer be published from the September quarter 2023 onwards. Time-series spreadsheets containing Manufacturing subdivision data can be located in tables 24 to 29 in all previous releases. The ABS continues to produce Manufacturing data at the industry division level in-line with all the other industries published in the Business Indicators survey.

Time series spreadsheets

Data files

Data Explorer datasets

Caution: Data in Data Explorer is currently released after the 11:30am release on the ABS website. Please check the reference period when using Data Explorer.

Business Indicators  - Quarterly estimates of private sector sales, wages, profits and inventories

Previous catalogue number

This release previously used catalogue number 5676.0.

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