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Business Indicators, Australia

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

Reference period
June Quarter 2019
Released
2/09/2019

Key statistics

  • The trend estimate for company gross operating profits rose 3.2%.
  • The trend estimate for inventories fell 0.1% in chain volume terms.
  • The seasonally adjusted estimate for company gross operating profits rose 4.5%.
  • The seasonally adjusted estimate for wages and salaries rose 1.4%.

Main features

June key figures

   Mar Qtr 19 to Jun Qtr 19Jun Qtr 18 to Jun Qtr 19
   %%
Sales of goods and services (Chain volume measures)  
 Manufacturing  
  Trend
-1.0
-4.0
  Seasonally Adjusted
-0.6
-3.7
 Wholesale trade  
  Trend
-0.1
0.8
  Seasonally Adjusted
-1.6
0.5
Inventories (Chain volume measures)  
 Trend
-0.1
0.3
 Seasonally Adjusted
-0.9
-0.3
Company gross operating profits  
 Trend
3.2
11.1
 Seasonally Adjusted
4.5
12.5
Wages and salaries  
 Seasonally Adjusted
1.4
4.7
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June key points

Chain volume estimates

  • The trend estimate for inventories fell 0.1% in the June quarter 2019. The seasonally adjusted estimate fell 0.9% this quarter.
  • The trend estimate for Manufacturing sales of goods and services fell 1.0% this quarter. The seasonally adjusted estimate fell 0.6% this quarter.
  • The trend estimate for Wholesale trade sales of goods and services fell 0.1% this quarter. The seasonally adjusted estimate fell 1.6%.
     

Current prices estimates

  • The seasonally adjusted estimate for company gross operating profits rose 4.5% in the June quarter 2019.
  • The seasonally adjusted estimate for wages and salaries rose 1.4% in the June quarter 2019.
     

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 2019 is $2,814m which is $2,182m higher than the March quarter 2019 IVA of $632m.

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.

Analysis by industry

The following graphs and commentary refer to seasonally adjusted and trend 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

In current prices, the trend estimate for company gross operating profits rose 3.2% this quarter. The seasonally adjusted estimate rose 4.5%. In current price terms, the trend estimate for wages and salaries rose 1.1% this quarter. The seasonally adjusted estimate rose 1.4%.

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In volume terms, the trend estimate for total inventories fell 0.1% this quarter. The seasonally adjusted estimate fell 0.9%.

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Mining

In current prices, the trend estimate for company gross operating profits rose 7.0% this quarter. The seasonally adjusted estimate rose 10.9%. In current price terms, the trend estimate for wages and salaries rose 0.8% this quarter. The seasonally adjusted estimate remained relatively unchanged this quarter.

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In volume terms, the trend estimate for sales of goods and services rose 1.3% this quarter. The seasonally adjusted estimate rose 4.0%. In volume terms, the trend estimate for inventories fell 0.1% this quarter. The seasonally adjusted estimate fell 1.5%.

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Manufacturing

In current prices, the trend estimate for company gross operating profits fell 2.0% this quarter. The seasonally adjusted estimate fell 3.5%. In current price terms, the trend estimate for wages and salaries rose 0.1% this quarter. The seasonally adjusted estimate fell 0.6%.

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In volume terms, the trend estimate for sales of goods and services fell 1.0% this quarter. The seasonally adjusted estimate fell 0.6%. In volume terms, the trend estimate for inventories rose 0.4% this quarter. The seasonally adjusted estimate fell 0.3%.

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Electricity, gas, water and waste services

In current prices, the trend estimate for company gross operating profits fell 3.6% this quarter. The seasonally adjusted estimate fell 11.3%. In current price terms, the trend estimate for wages and salaries rose 2.8% this quarter. The seasonally adjusted estimate rose 6.7%.

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In volume terms, the trend estimate for sales of goods and services fell 1.1% this quarter. The seasonally adjusted estimate fell 3.0%. In volume terms, the trend estimate for inventories fell 2.5% this quarter. The seasonally adjusted estimate rose 6.0%.

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Construction

In current prices, the trend estimate for company gross operating profits fell 1.0% this quarter. The seasonally adjusted estimate rose 4.1%. In current price terms, the trend estimate for wages and salaries remained relatively unchanged this quarter. The seasonally adjusted estimate fell 1.1%.

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In volume terms, the trend estimate for sales of goods and services rose 0.7% this quarter. The seasonally adjusted estimate rose 0.1%.

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Wholesale trade

In current prices, the trend estimate for company gross operating profits rose 1.6% this quarter. The seasonally adjusted estimate rose 3.0%. In current price terms, the trend estimate for wages and salaries rose 0.9% this quarter. The seasonally adjusted estimate rose 2.3%.

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In volume terms, the trend estimate for sales of goods and services fell 0.1% this quarter. The seasonally adjusted estimate fell 1.6%. In volume terms, the trend estimate for inventories fell 0.6% this quarter. The seasonally adjusted estimate fell 1.1%.

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Retail trade

In current prices, the trend estimate for company gross operating profits rose 1.8% this quarter. The seasonally adjusted estimate rose 3.4%. In current price terms, the trend estimate for wages and salaries rose 1.3% this quarter. The seasonally adjusted estimate rose 2.7%.

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In volume terms, the trend estimate for sales of goods and services rose 0.1% this quarter. The seasonally adjusted estimate fell 0.4%. In volume terms, the trend estimate for inventories rose 0.6% this quarter. The seasonally adjusted estimate fell 0.9%.

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Accommodation and food services

In current prices, the trend estimate for company gross operating profits rose 1.0% this quarter. The seasonally adjusted estimate rose 5.6%. In current price terms, the trend estimate for wages and salaries rose 0.9% this quarter. The seasonally adjusted estimate rose 1.8%.

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In volume terms, the trend estimate for sales of goods and services rose 0.2% this quarter. The seasonally adjusted estimate rose 1.3%. In volume terms, the trend estimate for inventories fell 0.8% this quarter. The seasonally adjusted estimate fell 2.3%.

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Transport, postal and warehousing

In current prices, the trend estimate for company gross operating profits rose 2.5% this quarter. The seasonally adjusted estimate fell 2.0%. In current price terms, the trend estimate for wages and salaries rose 0.4% this quarter. The seasonally adjusted estimate rose 0.1%.

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In volume terms, the trend estimate for sales of goods and services rose 0.2% this quarter. The seasonally adjusted estimate fell 0.5%.

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Information media and telecommunications

In current prices, the trend estimate for company gross operating profits fell 0.6% this quarter. The seasonally adjusted estimate fell 4.7%. In current price terms, the trend estimate for wages and salaries fell 0.1% this quarter. The seasonally adjusted estimate rose 2.5%.

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In volume terms, the trend estimate for sales of goods and services rose 1.3% this quarter. The seasonally adjusted estimate rose 0.5%.

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Financial and insurance services

In current prices, the trend estimate for company gross operating profits fell 1.2% this quarter. The seasonally adjusted estimate fell 5.0%. In current price terms, the trend estimate for wages and salaries rose 1.0% this quarter. The seasonally adjusted estimate rose 0.8%.

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In volume terms, the trend estimate for sales of goods and services rose 1.8% this quarter. The seasonally adjusted estimate rose 0.9%.

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Rental hiring and real estate services

In current prices, the trend estimate for company gross operating profits fell 2.0% this quarter. The seasonally adjusted estimate rose 5.1%. In current price terms, the trend estimate for wages and salaries fell 0.1% this quarter. The seasonally adjusted estimate fell 0.4%.

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In volume terms, the trend estimate for sales of goods and services fell 0.3% this quarter. The seasonally adjusted estimate rose 0.1%.

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Professional, scientific and technical services

In current prices, the trend estimate for company gross operating profits rose 6.3% this quarter. The seasonally adjusted estimate rose 6.5%. In current price terms, the trend estimate for wages and salaries rose 1.6% this quarter. The seasonally adjusted estimate rose 0.9%.

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In volume terms, the trend estimate for sales of goods and services rose 1.2% this quarter. The seasonally adjusted estimate rose 1.5%.

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Administrative and support services

In current prices, the trend estimate for company gross operating profits rose 3.3% this quarter. The seasonally adjusted estimate rose 2.7%. In current price terms, the trend estimate for wages and salaries rose 2.3% this quarter. The seasonally adjusted estimate rose 2.6%.

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In volume terms, the trend estimate for sales of goods and services rose 1.2% this quarter. The seasonally adjusted estimate rose 0.8%.

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Education and training

In current price terms, the trend estimate for wages and salaries rose 1.1% this quarter. The seasonally adjusted estimate rose 1.6%.

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Healthcare and social assistance

In current price terms, the trend estimate for wages and salaries rose 2.8% this quarter. The seasonally adjusted estimate rose 5.3%.

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Arts and recreation services

In current prices, the trend estimate for company gross operating profits fell 0.9% this quarter. The seasonally adjusted estimate rose 11.5%. In current price terms, the trend estimate for wages and salaries rose 1.4% this quarter. The seasonally adjusted estimate rose 2.0%.

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In volume terms, the trend estimate for sales of goods and services rose 1.2% this quarter. The seasonally adjusted estimate fell 0.6%.

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Other services

In current prices, the trend estimate for company gross operating profits rose 1.7% this quarter. The seasonally adjusted estimate rose 1.9%. In current price terms, the trend estimate for wages and salaries rose 0.2% this quarter. The seasonally adjusted estimate rose 1.2%.

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In volume terms, the trend estimate for sales of goods and services rose 1.2% this quarter. The seasonally adjusted estimate rose 1.5%.

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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