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Monthly statistical bulletin



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ISSN 2203-5249

RESEARCH PAPER SERIES, 2017-18 29 SEPTEMBER 2017

Monthly Statistical Bulletin—September 2017 Statistics and Mapping Section

The Statistics and Mapping Section produces a selection of the latest economic and social statistics in this Monthly Statistical Bulletin which is updated each month.

As a companion to the Bulletin, longer time series of the statistics presented in the publication are available electronically at Monthly Statistical Bulletin e-data. These time series are updated throughout each month as new figures are released.

Note: Between issues, many series are updated or revised. An indication of when each series is likely to be updated is included at the foot of each page. Previous months’ publications should be discarded as they may contain statistics which are no longer the most current or which have been revised.

Related publications Electronic links to publications referred to in the text are available on page 43.

Glossary Some economic and social terms may be unfamiliar to readers. Many of these terms are described in the glossary at the end of this publication.

Enquiries and comments Sue Johnson Director, Statistics and Mapping Section Telephone: (02) 6277 2480 or sue.johnson@aph.gov.au

Monthly Statistical Bulletin—September 2017 ii

Key release dates—September 2017 The following are advertised release dates for the statistics that appear in this publication. Australian Bureau of Statistics (ABS) publications are released at 11.30am (Canberra time). Copies of all ABS publications are available from the ABS website at www.abs.gov.au.

Monday 4 Business Indicators, Australia, June 2017, cat. no. 5676.0

Tuesday 5 Balance of Payments and International Investment Position, Australia, June 2017, cat. no. 5302.0 Wednesday 6 Australian National Accounts: National Income, Expenditure and Product, Australia, June 2017, cat. no. 5206.0

Building Approvals, Australia, July 2017, cat. no. 8731.0 Thursday 7 International Trade in Goods and Services, Australia, July 2017, cat. no. 5368.0 Retail Trade, Australia, July 2017, cat. no. 8501.0

Friday 8 Housing Finance, Australia, July 2017, cat. no. 5609.0

Monday 11 Lending Finance, Australia, July 2017, cat. no. 5671.0

Thursday 14 Labour Force, Australia, August 2017, cat. no. 6202.0

Monday 18 Sales of New Motor Vehicles, Australia, August 2017, cat. no. 9314.0

Tuesday 19 Residential Property Price Indexes: Eight Capital Cities, Australia, June 2017, cat. no. 6416.0 Thursday 28 Job Vacancies, Australia, August 2017, cat. no. 6354.0

Historical data Long-term data series for every table which appears in this publication are available electronically to all senators and members. These series are updated as new data are released.

The long-term series, with printable tables and graphs, are contained in Excel workbooks and can be found at: http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/MSB

Monthly Statistical Bulletin—September 2017 iii

Contents Page

Historical data ................................................................................................................................................................. ii

Key release dates ............................................................................................................................................................ ii

Contents .......................................................................................................................................................................... iii

Labour market 1.1 Employment .............................................................................................................................................. 1

1.2 Unemployment .......................................................................................................................................... 2

1.3 Labour force ............................................................................................................................................... 3

1.4 Long-term unemployment ........................................................................................................................ 4

1.5 Youth unemployment ............................................................................................................................... 5

1.6 ANZ job advertisements ............................................................................................................................ 6

1.7 Industrial disputes ..................................................................................................................................... 7

1.8 Jobseekers receiving allowances .............................................................................................................. 8

1.9 Underemployment…………………………………………………………………………………………………………………………..9 Wages and prices 2.1 Average weekly ordinary time earnings ................................................................................................. 10

2.2 Male total average weekly earnings ....................................................................................................... 11

2.3 Wage price index ..................................................................................................................................... 12

2.4 Consumer price index .............................................................................................................................. 13

2.5 Implicit price deflator for non-farm GDP ................................................................................................ 14

National accounts 3.1 Gross domestic product .......................................................................................................................... 15

3.2 Non-farm gross domestic product .......................................................................................................... 16

3.3 Wages and profits share.......................................................................................................................... 17

3.4 Household debt and household saving ratios ........................................................................................ 18

3.5 Labour productivity ................................................................................................................................. 19

Business conditions 4.1 Turnover of retail establishments ........................................................................................................... 20

4.2 Motor vehicle sales ................................................................................................................................. 21

4.3 Dwelling approvals .................................................................................................................................. 22

4.4 Business investment ................................................................................................................................ 23

4.5 Bankruptcies ............................................................................................................................................ 24

Finance 5.1 Business interest rates ............................................................................................................................ 25

5.2 Housing and cash interest rates ............................................................................................................. 26

5.3 Lending for housing ................................................................................................................................. 27

5.4 Home loan affordability .......................................................................................................................... 28

5.5 Stock exchange indexes .......................................................................................................................... 29

External transactions 6.1 International trade in goods and services .............................................................................................. 30

6.2 Balance on current account .................................................................................................................... 31

6.3 Terms of trade ......................................................................................................................................... 32

6.4 Exchange rates ........................................................................................................................................ 33

6.5 Foreign debt............................................................................................................................................. 34

Demographics 7.1 Population ................................................................................................................................................ 35

7.2 Components of population change ........................................................................................................ 36

7.3 Overseas arrivals—visitors and settlers .................................................................................................. 37

7.4 Health—bulk billing and private health insurance ................................................................................. 38

International comparisons 8.1 Economic growth ..................................................................................................................................... 39

8.2 Consumer prices ...................................................................................................................................... 40

8.3 Unemployment rates .............................................................................................................................. 41

8.4 Long-term interest rates ......................................................................................................................... 42

Related publications—links .................................................................................................................................. 43

Glossary ................................................................................................................................................................. 44

Monthly statistical bulletin

1

1.1 Employment

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Employment to population ratio (a) - per cent July 61.2 60.7 60.9 61.0 61.5

August 61.1 60.6 61.0 61.0 61.5

September 61.0 60.6 61.1 60.9

October 60.9 60.6 61.2 60.9

November 60.9 60.6 61.3 60.9

December 60.8 60.6 61.3 60.9

January 60.8 60.7 61.3 60.9

February 60.8 60.8 61.3 61.0

March 60.8 60.8 61.2 61.0

April 60.8 60.8 61.2 61.1

May 60.8 60.9 61.1 61.2

June 60.8 60.9 61.1 61.4

Annual average 60.9 60.7 61.2 61.0

Number employed (a) - '000

July 11 455.9 11 531.3 11 741.2 11 939.2 12 222.4

August 11 454.6 11 532.1 11 767.9 11 942.2 12 249.5

September 11 450.1 11 535.4 11 799.7 11 947.1

October 11 444.8 11 544.5 11 832.0 11 954.8

November 11 443.8 11 560.6 11 861.4 11 967.0

December 11 449.3 11 583.9 11 884.7 11 985.6

January 11 461.6 11 612.2 11 899.9 12 011.0

February 11 478.6 11 641.2 11 909.1 12 041.4

March 11 497.3 11 667.3 11 915.9 12 075.6

April 11 514.0 11 688.3 11 923.3 12 113.2

May 11 525.3 11 704.6 11 930.8 12 152.3

June 11 530.1 11 720.6 11 936.2 12 189.4

Annual average 11 475.5 11 610.2 11 866.8 12 026.6

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 19 October 2017

60.0

60.5

61.0

61.5

62.0

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Employment to Population ratio - per cent What is measured?

The ABS labour force survey provides regular estimates of employed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

Generally, a person is considered employed if they worked one or more hours a week for payment or benefit. This includes people who worked without pay in their own, or in a family business. People who were temporarily away from work are still counted as employed. These criteria are consistent with international standards for measuring employment. The employment to population ratio, sometimes referred to as the ‘employment rate’, expresses the number of employed people as a proportion of the civilian population (in the same age group).

Small area estimates of employment are available from the Labour page via the ‘Your electorate’ link on the Parliamentary Library’s web portal.

Related statistics in this bulletin  1.2 Unemployment

 1.3 Labour force

 1.9 Underemployment  7.1 Population

Related publications  Parliamentary Library, Employment statistics: a quick guide  ABS, Characteristics of employment,

cat. no. 6333.0  Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

2

1.2 Unemployment

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Unemployment rate (a) - per cent

July 5.7 6.1 6.1 5.7 5.6

August 5.7 6.2 6.1 5.7 5.6

September 5.8 6.2 6.1 5.7

October 5.8 6.3 6.0 5.7

November 5.8 6.3 5.9 5.7

December 5.8 6.2 5.8 5.8

January 5.9 6.2 5.8 5.8

February 5.9 6.2 5.8 5.8

March 5.9 6.1 5.7 5.8

April 5.9 6.1 5.7 5.7

May 6.0 6.1 5.7 5.7

June 6.0 6.1 5.7 5.6

Annual average 5.8 6.2 5.9 5.7

Number unemployed (a) - '000

July 692.0 752.0 767.4 720.9 725.3

August 695.3 761.3 767.2 720.0 723.2

September 699.0 767.6 763.0 718.9

October 703.3 770.4 755.4 720.4

November 707.4 771.1 746.1 725.2

December 710.6 770.4 737.2 731.6

January 712.6 767.5 730.8 737.0

February 714.4 763.4 727.1 739.3

March 717.5 759.8 724.8 737.8

April 722.5 759.0 723.9 734.0

May 730.3 761.1 723.0 730.2

June 740.9 764.9 721.8 727.2

Annual average 712.1 764.0 740.6 728.5

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 19 October 2017

5.0

5.5

6.0

6.5

7.0

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Unemployment rate - per cent

What is measured? The ABS labour force survey provides regular estimates of unemployed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

Generally, a person is considered to be unemployed if they are aged 15 years or over, not employed, are actively looking for work and are available to start work within a defined period.

The unemployment rate is the number of unemployed people expressed as a proportion of the labour force. Small area estimates of unemployment are available from the Labour page via the ‘Your electorate’ link on the Parliamentary Library’s web portal.

Related statistics in this bulletin  1.1 Employment

 1.3 Labour force  1.4 Long-term unemployment

 1.5 Youth unemployment  1.6 ANZ job advertisements

 1.8 Jobseekers receiving allowances  1.9 Underemployment

 8.3 Unemployment rates

Related publications  Parliamentary Library, Unemployment statistics: a quick guide

 ABS, Participation, Job Search and Mobility, cat. no. 6226.0

 ABS, Barriers and incentives to labour force participation, cat. no. 6239.0

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

3

1.3 Labour force

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Labour force (a) - '000 July 12 147.9 12 283.3 12 508.6 12 660.1 12 947.8

August 12 149.9 12 293.4 12 535.1 12 662.2 12 972.7

September 12 149.1 12 303.0 12 562.6 12 666.0

October 12 148.1 12 314.9 12 587.4 12 675.2

November 12 151.2 12 331.7 12 607.4 12 692.2

December 12 159.9 12 354.3 12 621.8 12 717.2

January 12 174.2 12 379.8 12 630.8 12 748.0

February 12 193.0 12 404.6 12 636.2 12 780.7

March 12 214.8 12 427.1 12 640.7 12 813.4

April 12 236.5 12 447.2 12 647.2 12 847.2

May 12 255.6 12 465.6 12 653.8 12 882.5

June 12 271.0 12 485.5 12 658.0 12 916.6

Annual average 12 187.6 12 374.2 12 607.5 12 755.1

Participation rate (a) - per cent

July 64.9 64.7 64.9 64.7 65.1

August 64.8 64.6 65.0 64.6 65.2

September 64.8 64.6 65.0 64.6

October 64.7 64.6 65.1 64.5

November 64.6 64.6 65.1 64.5

December 64.6 64.6 65.1 64.6

January 64.6 64.7 65.1 64.6

February 64.6 64.7 65.0 64.7

March 64.6 64.8 64.9 64.8

April 64.6 64.8 64.9 64.8

May 64.7 64.8 64.8 64.9

June 64.7 64.9 64.8 65.0

Annual average 64.7 64.7 65.0 64.7

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 19 October 2017

64.0

64.5

65.0

65.5

66.0

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Participation rate - per cent What is measured?

The ABS labour force survey provides regular estimates of Australians aged 15 years and over and their labour force status.

People may be employed or unemployed (i.e. in the labour force), or not in the labour force. A person’s status is determined through questions about their experiences during a specific time period. The participation rate measures the size of the labour force and provides an indication of those who are willing and able to work. The rate is the labour force (aged 15 years and over) expressed as a proportion of the civilian population (in the same age group).

Related statistics in this bulletin  1.1 Employment

 1.2 Unemployment  1.9 Underemployment

 7.1 Population  7.2 Components of population change

Related publications  Parliamentary Library, Labour force statistics: a quick guide

 ABS, Participation, Job Search and Mobility, cat. no. 6226.0 (see also ABS cat. no. 6206.0)

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

4

1.4 Long-term unemployment

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Ratio (b) - per cent July 19.1 22.3 23.2 23.2 22.5

August 19.6 21.9 22.9 23.5 22.5

September 20.0 21.7 22.5 23.9

October 20.4 21.7 22.3 24.3

November 20.7 22.1 22.3 24.5

December 21.1 22.8 22.5 24.5

January 21.4 23.4 22.9 24.3

February 21.7 24.0 23.2 24.0

March 22.2 24.2 23.4 23.6

April 22.5 24.1 23.4 23.3

May 22.8 23.9 23.2 23.0

June 22.7 23.6 23.1 22.7

Annual average 21.2 23.0 22.9 23.7

Long-term unemployed (a) (b) - '000 July 132.3 168.0 178.4 167.3 163.4

August 136.3 166.9 175.4 169.2 162.6

September 139.8 166.2 171.8 172.1

October 143.3 167.3 168.5 175.1

November 146.5 170.6 166.3 177.5

December 149.6 175.4 165.9 178.9

January 152.4 179.9 167.1 178.8

February 155.4 183.0 168.8 177.1

March 159.0 183.8 169.8 174.1

April 162.9 183.0 169.4 170.8

May 166.3 181.8 167.9 167.7

June 168.1 180.4 166.9 165.2

163.4

Annual average 151.0 175.5 169.7 172.8

(a) Unemployed for 52 weeks or more. (b) Trend estimates

Update

Source: ABS, Labour force, detailed - electronic delivery , cat. no. 6291.0.55.001 26 October 2017

15.0

17.5

20.0

22.5

25.0

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Ratio - per cent What is measured?

The ABS labour force survey provides regular estimates of unemployed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

People who have been unemployed for 52 weeks or more are considered to be long-term unemployed.

The long-term unemployment ratio expresses the number of long-term unemployed people as a proportion of all unemployed people.

When analysing long-term unemployment it is also useful to look at discouraged jobseekers, a group of people not in the labour force. They are people who wanted to work, were available to start work, but were not actively looking for work because they believed they would not find a job.

Related statistics in this bulletin  1.2 Unemployment

 1.3 Labour force

 1.6 ANZ job advertisements

Related publication  Parliamentary Library, Long-term unemployment statistics: a quick guide

 ABS, Participation, job search and mobility, cat. no. 6226.0 (see also ABS cat. no. 6220.0)

Monthly statistical bulletin

5

1.5 Youth unemployment

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Youth unemployment rate (b) - per cent July 12.1 13.7 13.3 12.9 12.9

August 12.3 13.8 13.1 13.0 12.8

September 12.5 13.9 12.9 13.0

October 12.5 13.9 12.7 13.0

November 12.5 13.9 12.4 13.0

December 12.4 13.9 12.3 13.0

January 12.4 13.8 12.1 13.0

February 12.5 13.7 12.1 13.0

March 12.7 13.6 12.2 12.9

April 13.0 13.6 12.4 12.9

May 13.2 13.5 12.6 12.9

June 13.5 13.4 12.8 12.9

Annual average 12.6 13.7 12.6 13.0

Young unemployed (a) (b) - '000 July 251.2 283.1 280.0 274.5 276.2

August 255.1 286.7 276.6 275.8 275.8

September 257.9 289.2 272.3 275.3

October 258.5 290.7 267.7 274.4

November 257.2 291.1 263.1 274.1

December 255.6 290.8 259.3 274.5

January 255.4 289.5 256.9 274.9

February 257.6 287.8 256.8 275.0

March 262.3 286.3 258.8 274.8

April 268.0 285.3 263.0 274.7

May 273.4 284.4 267.6 275.2

June 278.6 282.8 271.5 275.7

Annual average 260.9 287.3 266.1 274.9

(a) People classified as unemployed and aged 15 to 24 years. Update

(b) Trend estimates

Source: ABS, Labour force , cat. no. 6202.0

19 October 2017

12.0

12.5

13.0

13.5

14.0

14.5

15.0

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Unemployment rate - per cent What is measured?

The ABS labour force survey provides regular estimates of unemployed people aged 15 years and over. A person’s labour force status is based on their experiences during a specific time period.

Young unemployed people are those classified as unemployed and aged 15 to 24 years. The youth unemployment rate expresses the number of young unemployed people as a proportion of the youth labour force (in the same age group).

Small area estimates of unemployment are available from the Labour page via the ‘Your electorate’ link on the Parliamentary Library’s web portal.

Related statistics in this bulletin  1.2 Unemployment

 1.4 Long-term unemployment

 1.6 ANZ job advertisements

 1.8 Jobseekers receiving allowances

 1.9 Underemployment

Related publications  Parliamentary Library, Youth unemployment statistics: a quick guide

 ABS, Participation, Job Search and Mobility, cat. no. 6226.0 (see also ABS cat. no. 6220.0 and 6239.0).

 ABS, Job search experience, cat. no. 6222.0

 ABS, Education and work, cat. no. 6227.0

 ABS, Underemployed workers, cat. no. 6265.0

Monthly statistical bulletin

6

1.6 ANZ job advertisements

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Advertisements (a) (b) - number July 128 559 134 080 148 356 158 806 177 200

August 127 535 135 146 150 157 159 677 179 572

September 126 795 136 477 151 908 160 508

October 126 279 137 767 153 426 161 363

November 126 282 138 865 154 494 162 318

December 126 864 139 825 155 009 163 369

January 127 864 140 907 155 194 164 458

February 129 050 142 038 155 311 165 716

March 130 239 143 075 155 628 167 405

April 131 364 144 078 156 225 169 565

May 132 355 145 224 156 951 172 083

June 133 202 146 662 157 878 174 713

Annual average 128 866 140 345 154 211 164 998

Annual change (b) - per cent July -18.2 4.3 10.6 7.1 11.6

August -16.9 6.0 11.1 6.3 12.5

September -15.1 7.6 11.3 5.7

October -13.1 9.1 11.4 5.2

November -11.0 10.0 11.3 5.1

December -8.8 10.2 10.8 5.4

January -6.9 10.2 10.1 6.0

February -5.1 10.1 9.3 6.7

March -3.3 9.9 8.8 7.6

April -1.4 9.7 8.4 8.5

May 0.6 9.7 8.1 9.6

June 2.5 10.1 7.7 10.7

Annual average -8.1 8.9 9.9 7.0

(a) Average total number of newspaper and internet job advertisements per week. Update (b) Trend estimates

Source: ANZ Banking Group, Job advertisements series

4 October 2017

120 000

140 000

160 000

180 000

200 000

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Total number What is measured?

The ANZ job advertisement series measures the average weekly number of job advertisements in major metropolitan newspapers and on the internet. These figures are available monthly since January 1975 for newspapers and since July 1999 for the internet. Note: ANZ job advertisements data are revised monthly.

Related statistics in this bulletin  1.1 Employment  1.2 Unemployment  1.3 Labour force  1.4 Long-term unemployment  1.8 Jobseekers receiving allowances  1.9 Underemployment

Related publications  ABS, Job vacancies, cat. no. 6354.0

Monthly statistical bulletin

7

1.7 Industrial disputes

Quarter 2013-14 2014-15 2015-16 2016-17 2017-18

Working days lost - '000 September 23.0 24.6 29.1 34.9

December 36.1 16.9 19.1 37.2

March 9.7 20.4 27.9 25.6

June 20.2 14.8 24.5 40.2

Annual (a) 88.9 76.8 100.7 137.8

Working days lost per '000 employees September 2.3 2.4 2.8 3.3

December 3.5 1.6 1.8 3.4

March 0.9 1.9 2.6 2.4

June 2.0 1.4 2.3 3.7

Update

(a) 12 months ended June.

Source: ABS, Industrial disputes , cat. no. 6321.0.55.001

7 December 2017

0

1

2

3

4

5

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Days lost per '000 employees What is measured?

The ABS provides industrial disputes data for all disputes where ten or more working days were lost. Disputes where fewer working days were lost are excluded.

To be included, industrial disputes must be unauthorised stop work meetings; general strikes; sympathetic strikes; political or protest strikes; rotating or revolving strikes; unofficial strikes; or work stoppages initiated by employers.

Work-to-rules, go-slows and bans such as overtime bans are excluded.

Related publications  ABS, Characteristics of employment, cat. no. 6333.0 (see also ABS cat. no. 6310.0)

Monthly statistical bulletin

8

1.8 Jobseekers receiving allowances

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Jobseeker allowance recipients (a) - '000 July 411.5 413.9 479.7 509.8 511.3

August 394.0 403.0 530.6 497.5

September 384.5 399.3 526.7 490.1

October 384.0 398.8 514.9 488.2

November 385.2 397.2 509.1 485.9

December 406.7 421.2 531.4 513.0

January 428.2 437.7 550.0 533.3

February 425.6 440.0 542.7 538.2

March 417.5 431.1 542.8 529.3

April 415.5 435.9 530.1 534.4

May 417.6 430.3 517.7 520.8

June 417.3 441.4 511.2 513.4

Annual average 407.3 420.8 523.9 512.8

Annual change - per cent July 21.3 0.6 .. 6.3 0.3

August 19.1 2.3 .. -6.2

September 16.4 3.9 .. -7.0

October 15.3 3.9 .. -5.2

November 14.8 3.1 .. -4.6

December 16.3 3.6 .. -3.5

January 5.8 2.2 .. -3.0

February 4.9 3.4 .. -0.8

March 8.4 3.3 .. -2.5

April 5.2 4.9 .. 0.8

May 4.3 3.0 .. 0.6

June 2.6 5.8 .. 0.4

Annual average 10.7 3.3 .. -2.1

(a) Comprises jobseekers receiving Newstart Allowance and Youth Allowance (other).

Update

Source: Department of Social Services, Labour market and related payments: a monthly profile 30 September 2017

0

100

200

300

400

500

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Persons '000

Short-term allowance recipients Long-term allowance recipients

What is measured? The Department of Social Services produces regular data on various labour market related payments delivered by Centrelink. The jobseekers data provides information on people receiving Newstart Allowance and those receiving Youth Allowance who are not full-time students or full-time apprentices. Newstart Allowance is paid to eligible unemployed people aged 22 years and over (in July 2012 eligibility changed from 21 years), but below the Age Pension age. These people are subject to an activity test and must be actively seeking and willing to work, or be actively improving their prospects of becoming employed. People classified as ‘Youth Allowance (other)’ are those who would usually be engaged in job search. Note: there have been several breaks in the time series, the most recent being at 1 July 2015 when a new employment services model (‘jobactive’) was introduced. The number of jobseekers increased as a result of changes to job search requirements. Caution should be used when comparing figures before and after this period. The was a previous series break in July 2012.

Related statistics in this bulletin  1.2 Unemployment  1.4 Long-term unemployment  1.5 Youth unemployment  1.6 ANZ job advertisements

Related publications  ABS, Australian labour market statistics, cat. no. 6105.0-see Jul 2014

Monthly statistical bulletin

9

1.9 Underemployment

Quarter 2013-14 2014-15 2015-16 2016-17 2017-18

Underemployment rate (a) - per cent August 7.7 8.2 8.4 8.5 8.7

November 7.7 8.4 8.3 8.6

February 7.8 8.5 8.4 8.7

May 7.9 8.4 8.4 8.7

Annual average 7.8 8.4 8.4 8.6

Labour force underutilisation rate (a) - per cent August 13.5 14.4 14.3 14.2 14.2

November 13.6 14.6 14.2 14.4

February 13.7 14.6 14.1 14.4

May 13.9 14.5 14.1 14.4

Annual average 13.7 14.5 14.2 14.4

Number underemployed (a) - '000 August 932.0 1008. 1049. 9 1077. 6 1129. 8

November 940.2 1037. 5 1049. 1 1096. 8

February 945.4 1048. 9 1056. 4 1112. 7

May 970.2 1049. 4 1065. 2 1124. 3

Annual average 947.0 1035. 9 1055.1 1102. 9

(a) Trend estimates

Update

Source: ABS, Labour force , cat. no. 6202.0 (quarterly update) 19 October 2017

3.0

7.0

11.0

15.0

19.0

Aug-14 Aug-15 Aug-16 Aug-17 Aug-18

Per cent Underemployment rate

Labour force underutilisation rate

What is measured? The ABS labour force survey provides regular estimates of Australians aged 15 years and over and their labour force status. A person’s status is determined through questions about their experiences during a specific time period. Generally, a person is considered to be underemployed if they were: employed part-time and wanted to work more hours and were available to do so; or employed full-time but only working part-time hours due to economic reasons (e.g. being stood down). The underemployment rate expresses the number of underemployed people as a proportion of the labour force. The underutilisation rate is an extended measure of underutilised labour, which includes the unemployed and expresses the sum of these two groups as a proportion of the labour force.

Related statistics in this bulletin  1.1 Employment  1.2 Unemployment  1.3 Labour force  1.5 Youth unemployment  1.6 ANZ job advertisements

Related publications  ABS, Labour force, detailed, quarterly, cat. no. 6291.0.55.003  ABS, Participation, Job Search and

Mobility, cat. no. 6226.0 (see also ABS cat. no. 6239.0)  ABS, Underemployed workers, cat. no. 6265.0  ABS, Australian labour market

statistics, cat. no. 6105.0-see Jan 2011

Monthly statistical bulletin

10

2.1 Average weekly ordinary time earnings (AWOTE)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

AWOTE - $ per week

November 1396.00 1437.00 1477.00 1500.50 1533.40

May 1420.90 1454.10 1483.10 1516.00 1543.20

Annual average 1408.45 1445.55 1480.05 1508.25 1538.30

AWOTE annual change - per cent

November 5.0 2.9 2.8 1.6 2.2

May 5.3 2.3 2.0 2.2 1.8

Annual average 5.1 2.6 2.4 1.9 2.0

Real AWOTE (a) - $ per week

November 1515.07 1517.90 1533.81 1532.34 1543.16

May 1530.09 1520.01 1527.25 1545.31 1543.20

Annual average 1522.58 1518.95 1530.53 1538.83 1543.18

Real AWOTE annual change - per cent

November 2.7 0.2 1.0 -0.1 0.7

May 2.9 -0.7 0.5 1.2 -0.1

Annual average 2.8 -0.2 0.8 0.5 0.3

Sources: ABS, Average weekly earnings , cat. no. 6302.0

ABS, Consumer price index , cat. no. 6401.0

Update

25 October 2017

(a) Expressed in June 2017 dollars; converted to real terms using the Consumer Price Index (CPI).

1 250

1 300

1 350

1 400

1 450

1 500

1 550

Nov-12 Nov-13 Nov-14 Nov-15 Nov-16

Dollars

AWOTE

Real AWOTE (June 2017 dollars)

What is measured? Average weekly ordinary time earnings is a measure of before tax earnings of full-time adult employees; it excludes any overtime payments. It is calculated by dividing an estimate of gross—before deductions—weekly earnings by the number of employees. AWOTE has been measured since December 1983. The original time series has been used as it goes back to November 1994 whereas the trend and seasonally adjusted series only goes back to May 2012. AWOTE has become a standard measure for wage levels and is enshrined in some legislation as a benchmark for the calculation of some social security payments. To gauge how earnings are changing in comparison with inflation, the inflationary component is removed using the consumer price index; this leaves the real AWOTE series.

Related statistics in this bulletin  2.2 Male total average weekly earnings  2.3 Wage price index  2.4 Consumer price index  3.3 Wages and profits share

Related publications  ABS, Employee earnings and hours, cat. no. 6306.0  ABS, Characteristics of

employment, cat. no. 6333.0  ABS, Labour price index, cat. no.6345.0  ABS, Australian national accounts:

national income, expenditure and product, cat. no. 5206.0

Monthly statistical bulletin

11

2.2 Male total average weekly earnings (MTAWE)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

MTAWE - $ per week

November 1324.30 1347.90 1371.50 1374.80 1397.90

May 1356.70 1364.60 1369.50 1395.10 1417.20

Annual average 1340.50 1356.25 1370.50 1384.95 1407.55

MTAWE annual change - per cent

November 5.5 1.8 1.8 0.2 1.7

May 5.6 0.6 0.4 1.9 1.6

Annual average 5.5 1.2 1.1 1.1 1.6

Real MTAWE (a) - $ per week

November 1437.26 1423.78 1424.25 1403.97 1406.80

May 1460.96 1426.45 1410.27 1422.08 1417.20

Annual average 1449.11 1425.12 1417.26 1413.02 1412.00

Real MTAWE annual change - per cent

November 3.2 -0.9 0.0 -1.4 0.2

May 3.1 -2.4 -1.1 0.8 -0.3

Annual average 3.2 -1.6 -0.6 -0.3 -0.1

Sources: ABS, Average weekly earnings , cat. no. 6302.0

ABS, Consumer price index , cat. no. 6401.0

Update

22 October 2017

(a) Expressed in June 2017 dollars; converted to real terms using the Consumer Price Index (CPI).

1 150

1 200

1 250

1 300

1 350

1 400

1 450

1 500

Nov-12 Nov-13 Nov-14 Nov-15 Nov-16

Dollars

MTAWE Real MTAWE (June 2017 dollars)

What is measured? Male total average weekly earnings (MTAWE) is a measure of average before tax earnings of all male employees including any overtime payments. It is calculated by dividing an estimate of male gross—before deductions—weekly total earnings by the number of male employees. MTAWE, like AWOTE, is a standard measure for wage levels and is enshrined in a range of legislation. For example, MTAWE is used as a benchmark in setting pensions. MTAWE is used to compare changes in wages over long periods, The original time series has been used as it goes back to November 1994 whereas the trend and seasonally adjusted series only goes back to May 2012. To gauge increase in earnings in comparison with inflation, the inflationary component is removed using the consumer price index; this leaves the real MTAWE series.

Related statistics in this bulletin  2.1 Average weekly ordinary time earnings  2.3 Wage price index  2.4 Consumer price index  3.3 Wages and profits share

Related publications  ABS, Employee earnings and hours, cat. no. 6306.0  ABS, Characteristics of

employment, cat. no. 6333.0  ABS, Labour price index, cat. no. 6345.0  ABS, Australian national accounts:

national income, expenditure and product, cat. no. 5206.0

Monthly statistical bulletin

12

2.3 Wage price index (WPI)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Total Wage price index (a) - index September 113.4 116.5 119.4 122.1 124.4

December 114.2 117.2 120.1 122.7 125.0

March 115.0 118.0 120.8 123.3 125.6

June 115.7 118.7 121.4 123.9 126.2

Annual average 114.6 117.6 120.4 123.0 125.3

Total Annual change (a) - per cent September 3.7 2.7 2.5 2.3 1.9

December 3.4 2.6 2.5 2.2 1.9

March 3.1 2.6 2.4 2.1 1.9

June 2.9 2.6 2.3 2.1 1.9

Annual average 3.3 2.6 2.4 2.1 1.9

Private Sector Annual change (a) - per cent September 3.7 2.7 2.5 2.1 1.9

December 3.4 2.6 2.4 2.0 1.8

March 3.2 2.5 2.3 2.0 1.8

June 2.9 2.5 2.2 1.9 1.8

Annual average 3.3 2.6 2.3 2.0 1.8

Public Sector Annual change (a) - per cent September 3.3 2.6 2.8 2.7 2.3

December 3.2 2.7 2.7 2.6 2.3

March 3.0 2.9 2.6 2.5 2.3

June 2.8 2.9 2.6 2.4 2.4

Annual average 3.1 2.8 2.7 2.5 2.3 Update

(a) Trend data

Source: ABS, Wage Price Index, Australia, cat. no. 6345.0

15 November 2017

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent

Private Sector

Public Sector

Total

What is measured? The wage price index is to wage costs what the consumer price index is to the costs of consumer goods and services. It is calculated by comparing the cost of wages over time for the same work level and output. This means that it excludes the effects of changes in the nature of work performed, the quantity of work performed, the characteristics of the particular occupation and the location of work. The wage price index is available from the September quarter 1997.

The data relates to total hourly rates of pay excluding bonuses in all industries in the private and public sectors. Index base: 2008-09 = 100.0.

Related statistics in this bulletin  2.1 Average weekly ordinary time earnings

 2.2 Male total average weekly earnings

 2.4 Consumer price index

 3.3 Wages and profits share

Related publications  ABS, Employee earnings and hours, cat. no. 6306.0

 ABS, Characteristics of employment, cat. no. 6333.0

 ABS, Average weekly earnings, cat. no. 6302.0

 ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

Monthly statistical bulletin

13

2.4 Consumer price index (CPI)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Consumer price index (a) September 101.8 104.0 106.4 108.0 109.4

December 102.0 104.8 106.6 108.4 110.0

March 102.4 105.4 106.8 108.2 110.5

June 102.8 105.9 107.5 108.6 110.7

Consumer price index quarterly change - per cent September 0.2 0.8 0.2 0.4 0.5

December 0.4 0.6 0.2 -0.2 0.5

March 0.4 0.5 0.7 0.4 0.2

June 1.2 0.5 0.5 0.7 0.0

Consumer price index annual change (b) - per cent September 2.0 2.2 2.3 1.5 1.3

December 2.2 2.7 1.7 1.7 1.5

March 2.5 2.9 1.3 1.3 2.1

June 2.4 3.0 1.5 1.0 1.9

Annual average 2.3 2.7 1.7 1.4 1.7

Underlying inflation annual change (c) - per cent September 2.3 2.4 2.5 2.2 1.5

December 2.3 2.7 2.3 2.0 1.5

March 2.5 2.7 2.4 1.6 1.8

June 2.5 2.7 2.2 1.5 1.8

Annual average 2.4 2.6 2.4 1.8 1.6

(a) All groups, eight capital cities index. Base: 2011-12 = 100.0. (b) Referred to as the 'headline' inflation rate. (c) The average of the Reserve Bank of Australia weighted median and trimmed

mean price inflation measures. Referred to as the 'underlying' inflation rate. Source:

ABS, Consumer price index, cat. no. 6401.0 Update

RBA, Statistical Tables, Prices and Inflation 25 October 2017

0

1

2

3

4

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Annual change - per cent

Headline rate Underlying rate

RBA Target range

What is measured? The consumer price index (CPI) measures the relative cost of a basket of goods and services bought by capital city households. The basket is regularly updated to incorporate changes in the composition of purchases and linked so a constant comparable measure of consumer price inflation is available from 1948. Changes in the CPI are called ‘headline’ inflation.

The CPI forms a base for measures of price change used by the RBA, the ‘trimmed mean’ and the ‘weighted median’. These smooth the volatility of some price changes to give what are called ‘underlying’ or ‘core’ inflation measures.

The RBA inflation target of 2-3 per cent is a medium-term average for ‘underlying’ inflation rather than a rate that must be held at all times.

Related statistics in this bulletin  2.3 Wage price index

 2.5 Implicit price deflator for non-farm GDP

 8.2 Consumer prices

Related publications  ABS, Information paper: Introduction of the 16th series Australian Consumer Price Index,

cat. no. 6470.0.

 ABS, A guide to the consumer price index, cat. no. 6440.0

 ABS, Consumer price index: concepts, sources and methods, cat. no. 6461.0

 ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 Melbourne Institute, Survey of consumer inflationary expectations

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

14

2.5 Implicit price deflator for non-farm GDP

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Index (a) (b) September 99.0 100.7 100.2 99.6 101.5

December 99.0 101.1 100.0 99.2 103.2

March 99.4 101.1 100.0 99.2 104.4

June 100.0 100.7 99.9 99.8 105.1

Annual index 99.4 100.9 100.0 99.5 103.4

Quarterly change (b) - per cent September -0.2 0.6 -0.5 -0.3 1.6

December 0.0 0.4 -0.2 -0.3 1.7

March 0.4 0.0 0.0 0.0 1.2

June 0.6 -0.4 -0.1 0.6 0.7

Annual change (b) - per cent September -0.9 1.7 -0.5 -0.6 1.9

December -0.7 2.1 -1.1 -0.8 4.0

March 0.0 1.7 -1.1 -0.8 5.2

June 0.8 0.7 -0.8 -0.1 5.3

(a) Ratio of current price non-farm gross domestic product to chain volume non-farm gross domestic product. Reference year for implicit price deflators is 2013-14. (b) All figures are trend, except for the annual index figure, which is from the original series.

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

Update

6 December 2017

-2

0

2

4

6

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent

What is measured? The Implicit Price Deflator (IPD) is used to measure price changes throughout the economy. In contrast, the Consumer Price Index (CPI) measures price changes for a fixed basket of household goods and services purchased by consumers in capital cities.

The IPD for non-farm GDP includes price changes for all goods and services produced in the economy excluding agricultural production. Agricultural production has been excluded due to the high volatility in prices for agricultural products.

Even with the removal of farm GDP, the non-farm IPD can be heavily influenced by movements in commodity prices during the quarter.

The IPD is calculated by dividing a current price value (nominal) by its real counterpart (the chain volume measure). Implicit refers to the fact that it indirectly captures weighted prices of goods and services which are seen in the difference between real and nominal aggregates (such as non-farm GDP).

Related statistics in this bulletin  2.3 Wage price index

 2.4 Consumer price index

 3.1 Gross domestic product

 3.2 Non-farm gross domestic product

Related publications  ABS, Labour price index, cat. no. 6345.0

 ABS, Consumer price index, cat. no. 6401.0

Monthly statistical bulletin

15

3.1 Gross domestic product (GDP)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Current prices (a) - $ million

September 377 884 392 168 401 552 409 191 425 727

December 379 840 396 974 403 051 411 453 434 772

March 382 862 400 101 405 478 414 319 444 699

June 387 146 401 073 407 590 418 487

Annual (b) 1 527 528 1 589 940 1 617 016 1 654 928

Chain volume measures (c) - $ million

September 381 995 390 070 400 942 410 398 420 130

December 383 766 393 291 403 112 413 542 421 863

March 385 395 396 347 405 497 416 464 423 737

June 387 350 398 790 407 911 418 510

Chain volume quarterly change (from previous qtr) (d) - per cent

September 0.6 0.7 0.5 0.6 0.4

December 0.5 0.8 0.5 0.8 0.4

March 0.4 0.8 0.6 0.7 0.4

June 0.5 0.6 0.6 0.5

Chain volume annual change (from same qtr of previous year) (d) - per cent

September 3.4 2.1 2.8 2.4 2.4

December 2.7 2.5 2.5 2.6 2.0

March 2.2 2.8 2.3 2.7 1.7

June 2.0 3.0 2.3 2.6

Update 6 September 2017

(a) Calculated on the trend series using current prices.

(c) Calculated on the trend series using chain volume measures. Reference year for chain volume measures is 2013-14. Chain volume measures are generally not additive.

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

(b) 12 months ended June. Calculated on the quarterly original series using current prices.

(d) Calculated on the trend series using chain volume measures.

0

1

2

3

4

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent (d)

What is measured? Gross domestic product (GDP) measures the total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production but before deducting allowances for the consumption of fixed capital.

GDP is a measure of the size of the economy and is expressed in current prices or chain volume measures (where the effects of price change are removed). Three measures of GDP are produced each quarter. They are a production measure, an income measure and an expenditure measure. The GDP figures shown in this table are the headline figures, and are the average of the three measures.

From October 2014, seasonally adjusted estimates have been replaced with trend estimates.

Related statistics in this bulletin  3.2 Non-farm gross domestic product

 3.3 Wages and profits share

 3.4 Household debt and household saving ratios

 3.5 Labour productivity  8.1 Economic growth

Related publications  Treasury, Budget papers

 Treasury, Mid-Year Economic and Fiscal Outlook

 OECD, Economic Outlook

 NAB, Business Research and Insights

 Deloitte Access Economics, Business Outlook

 Melbourne Institute, Monthly Bulletin of Economic Trends

Monthly statistical bulletin

16

3.2 Non-farm gross domestic product

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Current prices (a) - $ million

September 370 270 384 109 393 622 400 568 417 274

December 372 047 389 122 394 789 402 988 425 633

March 374 910 392 382 396 903 405 912 432 968

June 379 052 393 332 398 898 409 995 439 067

Annual (b) 1 496 052 1 558 675 1 583 312 1 621 029 1 710 851

Chain volume prices (c)- $ million

September 373 898 381 560 392 737 402 365 411 241

December 375 645 384 859 394 747 406 071 412 458

March 377 102 388 008 396 934 409 185 414 792

June 378 885 390 535 399 432 410 658 417 807

Chanin volume quarterly change (from previous qtr) (d) - per cent

September 0.6 0.7 0.6 0.7 0.1

December 0.5 0.9 0.5 0.9 0.3

March 0.4 0.8 0.6 0.8 0.6

June 0.5 0.7 0.6 0.4 0.7

Chanin volume annual change (from same qtr of previous year) (d) - per cent

September 3.6 2.0 2.9 2.5 2.2

December 2.8 2.5 2.6 2.9 1.6

March 2.3 2.9 2.3 3.1 1.4

June 2.0 3.1 2.3 2.8 1.7

(a) Calculated on the trend series using current prices.

(d) Calculated on the trend series using chain volume measures.

Update 6 December 2017 Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

(b) 12 months ended June. Calculated on the quarterly original series using current prices.

(c) Calculated on the trend series using chain volume measures. Reference year for chain volume measures is 2013-14. Chain volume measures are generally not additive.

0

1

2

3

4

5

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent (d) What is measured?

GDP measures the total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production but before deducting allowances for the consumption of fixed capital. GDP is a measure of the size of the economy and is expressed in current prices or chain volume measures (where the effects of price change are removed). GDP can be split into farm GDP and non-farm GDP for analysis purposes. Farm GDP can be very volatile, for example, due to the effects of weather. Non-farm GDP is often used because it is a more stable indicator.

Related statistics in this bulletin  2.5 Implicit price deflator for non-farm GDP  3.1 Gross domestic product  3.3 Wages and profits share  3.4 Household debt and

household saving ratios  3.5 Labour productivity  8.1 Economic growth

Related publications  Treasury, Budget papers  Treasury, Mid-Year Economic and Fiscal Outlook

 OECD, Economic Outlook  NAB, Business Research and Insights

Monthly statistical bulletin

17

3.3 Wages and profits share

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Wage share (a) (b) - per cent

September 53.8 53.5 53.8 54.1 53.5

December 53.7 53.5 53.8 54.3 52.5

March 53.7 53.5 53.7 54.5 51.8

June 53.6 53.7 53.8 54.3 51.3

Annual average (c) 53.7 53.6 53.8 54.3 52.3

Profit share (a) (d) - per cent

September 27.1 27.1 26.0 24.8 25.1

December 27.0 27.1 25.7 24.5 26.1

March 27.0 26.9 25.4 24.2 26.9

June 27.1 26.5 25.2 24.3 27.3

Annual average (c) 27.1 26.9 25.6 24.5 26.4

(a) Calculated on the trend series using current prices. (b) Compensation of employees as a proportion of total factor income. (c ) Year ending June.

Update

(d) Gross operating surplus of corporations as a proportion of total factor income.

Source: ABS, Australian national accounts: National income, expenditure and product, cat. no. 5206.0

6 December 2017

What is measured? Gross Domestic Product can be derived from income flows to the factors of production (labour and capital). The income measure of Gross Domestic Product (GDP) can be broken down into ‘total factor income’ plus taxes less subsidies. ‘Total factor income’ is that part of the cost of producing GDP which consists of gross payments to labour and capital. The ‘wage share’ is the total compensation of employees as a percentage of total factor income. The ‘profit share’ is the Gross Operating Surplus (GOS) of corporations as a percentage of total factor income. GOS is a measure of the surplus accruing to owners of capital from processes of production.

Related statistics in this bulletin  3.1 Gross domestic product  3.2 Non-farm gross domestic product

 3.4 Household debt and household saving ratios  3.5 Labour productivity

Related publications  Treasury, Budget papers  OECD, Economic Outlook  NAB, Business Research and

Insights  Deloitte Access Economics, Business Outlook

49.0

50.0

51.0

52.0

53.0

54.0

55.0

22

23

24

25

26

27

28

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Profit share (left axis)

Wages share (right axis)

Per cent Per cent

Monthly statistical bulletin

18

3.4 Household debt and household saving ratios

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Household debt ratio (a) - per cent

September 166.5 169.9 173.5 181.8 187.1

December 166.6 171.1 175.2 183.0 188.8

March 167.0 171.3 177.4 183.6 190.4

June 170.3 172.9 180.4 186.6

Household debt servicing ratio (b) - per cent September 10.3 9.1 8.9 8.5 8.5

December 9.9 8.9 8.9 8.7 8.6

March 9.6 8.9 8.8 8.8 8.6

June 9.4 8.8 8.5 8.6

Household saving ratio (c) - per cent

September 7.6 8.7 8.6 7.3 6.7

December 8.4 9.4 8.8 6.3 5.8

March 9.5 9.2 7.1 7.0 5.3

June 9.0 9.0 7.8 6.9 4.6

(b ) Calculated by the RBA using seasonally adjusted data. (c) Seasonally adjusted.

Update 6/12/2017 Household saving ratio

(a) Calculated by the RBA using original (for debt) and seasonally adjusted (for household income) data.

Last business Friday of September 2017 (RBA Debt ratios)

Source: ABS, Australian national accounts: National income, expenditure and product, cat. no. 5206.0, for the household saving ratio. Reserve Bank of Australia, Statistics Tables, Household and Business Finances (Table E2) , for the household debt and debt servicing ratios.

What is measured? The household debt ratio measures housing and other personal debt, as a proportion of annualised household disposable income. The household debt servicing ratio measures interest payments on housing and other personal debt as a proportion of quarterly household disposable income. The household saving ratio is the ratio of household net saving to household net disposable income. Housing net saving is calculated as household net disposable income less household final consumption expenditure. Household net disposable income is calculated as household gross disposable income less household consumption of fixed capital. Caution should be exercised when interpreting the household saving ratio, as major components of household income and expenditure may be subject to significant revisions. The RBA advises that the housing debt ratio and household debt servicing ratio series were revised to align the scope of the household sector to be consistent with the National Accounts. This occurred on 25 September 2015, and affects the entire time series.

Related statistics in this bulletin  3.1 Gross domestic product  3.2 Non-farm gross domestic product

 5.4 Home loan affordability

Related publications  Treasury, Budget papers  OECD, Economic Outlook

150

155

160

165

170

175

180

185

190

195

0

2

4

6

8

10

12

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Household savings ratio (left axis)

Household debt servicing ratio (left axis)

Household debt ratio (right axis)

Per cent Per cent

Monthly statistical bulleti n

19

3.5 Labour productivity (market sector)

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Labour productivity index (a)

September 95.6 97.4 99.5 100.6 102.5

December 96.1 98.4 99.8 100.8 102.8

March 96.4 99.1 100.2 101.2 103.1

June 96.7 99.4 100.6 101.8 103.5

Annual average (b) 96.2 98.6 100.0 101.3 0.0

Quarterly change (from previous quarter) - per cent (c)

September 0.8 0.8 0.1 0.1 0.6

December 0.5 1.0 0.3 0.2 0.4

March 0.3 0.7 0.4 0.4 0.3

June 0.3 0.3 0.4 0.6 0.4

Annual change (from same quarter of previous year) - per cent (d) \ September 3.4 1.9 2.2 1.1 1.9

December 2.8 2.4 1.4 1.0 2.0

March 2.3 2.8 1.1 1.0 1.9

June 1.9 2.8 1.2 1.2 1.7

Annual average (d) 2.6 2.5 1.5 1.1 1.9

(a) Using trend data. (c ) Average for year ending 30 June, using original data. (d) Using trend data. (e) Annual average of year ending 30 June, using original data.

Update

Source: ABS, Australian national accounts: National income, expenditure and product, cat. no. 5206.0

6 December 2017

0

1

2

3

4

5

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent (from same quarter of previous year)

What is measured? The ratio of Gross Value Added to hours worked in the market sector can be used to measure changes in labour productivity. These indexes are a measure of real output per hour worked in the economy. The market sector includes all industries apart from Public Administration and safety; Education and training; and Health care and social assistance. Labour productivity reflects not only the contribution of labour to changes in production per hour worked, but also the contribution of capital and other factors (such as managerial efficiency and economies of scale).

Related statistics in this bulletin  3.1 Gross domestic product  3.2 Non-farm gross domestic product

 3.3 Wages and profits share  3.4 Household debt and household saving ratios

Related publications  Treasury, Budget papers  Treasury, Mid-Year Economic and Fiscal Outlook

 OECD, Economic Outlook  NAB, Business Research and Insights

Monthly statistical bulletin

20

4.1 Retail turnover

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Value (a) - $ million July 22 096.7 23 352.4 24 474.3 25 263.7 26 156.5

August 22 199.0 23 432.4 24 559.9 25 353.8

September 22 326.3 23 660.2 24 644.1 25 451.6

October 22 465.6 23 730.5 24 723.7 25 537.1

November 22 609.3 23 802.4 24 802.4 25 596.5

December 22 890.6 23 878.5 24 880.1 25 633.8

January 22 992.5 23 962.4 24 952.3 25 667.5

February 23 064.7 24 050.8 25 012.3 25 716.1

March 23 115.4 24 140.3 25 058.3 25 789.9

April 23 157.7 24 227.7 25 095.9 25 882.0

May 23 207.4 24 310.2 25 136.5 25 978.4

June 23 273.5 24 391.0 25 190.8 26 071.3

Annual (b) 273 111.7 286 812.4 299 292.8 307 993.0

This month compared to same month in previous year - % change (a)

July 2.2 5.7 4.8 3.2 3.5

August 2.6 5.6 4.8 3.2

September 3.3 6.0 4.2 3.3

October 3.9 5.6 4.2 3.3

November 4.5 5.3 4.2 3.2

December 5.6 4.3 4.2 3.0

January 5.7 4.2 4.1 2.9

February 5.7 4.3 4.0 2.8

March 5.6 4.4 3.8 2.9

April 5.6 4.6 3.6 3.1

May 5.6 4.8 3.4 3.3

June 5.7 4.8 3.3 3.5

Annual (b) 4.7 5.0 4.4 2.9

Update

Source: ABS, Retail Trade, Australia, cat. no. 8501.0 5 October 2017

(a) Monthly figures (including the graph) are calculated on the trend series. Annual figures are calculated on the original series.

(b) 12 months ended June.

(c) Estimate are presented in current price terms, and therefore reflect both price and volume changes.

0

2

4

6

8

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Annual change - per cent What is measured?

The ABS ‘Retail Trade’ publication provides estimates of the value of turnover of retail trade for Australian businesses. Turnover includes wholesale and retail sales, takings from repairs, meals and hiring of goods, some commissions, and since July 2000, the GST. Data is derived by the ABS from the monthly Retail Business Survey. The scope of this Survey is all employing retail trade businesses who predominantly sell to households. It includes 500 large businesses and a sample of 2,700 smaller businesses. For the purposes of the Survey, businesses are classified using the Australian and New Zealand Standard Industrial Classification. However, the Retail Business Survey does not include all classes in the ANZSIC Retail Trade Division, and also includes cafes, restaurants and take-away food services from the Accommodation and Food Services Division. This bulletin reports the monthly results at the Australian aggregate level, using the trend and original series. Prior to October 2014, seasonally adjusted figures were used.

Related statistics in this bulletin:  2.1 Average weekly ordinary time earnings  2.4 Consumer price index  4.2 Motor vehicle sales  4.4 Business investment

Related publications  NAB, Monthly Business Survey

Monthly statistical bulletin

21

4.2 Motor vehicle sales

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Total vehicle sales (a)

July 94 331 92 892 96 139 97 894 100 479

August 94 307 92 794 96 629 98 139 100 809

September 94 387 92 680 97 102 98 236

October 94 465 92 721 97 503 98 026

November 94 424 93 051 97 889 97 517

December 94 188 93 583 98 181 96 957

January 93 753 94 164 98 331 96 702

February 93 239 94 695 98 281 96 924

March 92 827 95 044 98 061 97 622

April 92 602 95 269 97 818 98 535

May 92 644 95 455 97 661 99 381

June 92 803 95 727 97 713 100 046

Annual (c) 1 122 467 1 131 706 1 175 121 1 179 545

This month compared to same month in previous year - per cent change (a)

July 1.1 -1.5 3.5 1.8 2.6

August 0.0 -1.6 4.1 1.6 2.7

September -1.0 -1.8 4.8 1.2

October -1.7 -1.8 5.2 0.5

November -2.0 -1.5 5.2 -0.4

December -2.1 -0.6 4.9 -1.2

January -2.1 0.4 4.4 -1.7

February -2.1 1.6 3.8 -1.4

March -2.3 2.4 3.2 -0.4

April -2.3 2.9 2.7 0.7

May -2.1 3.0 2.3 1.8

June -1.7 3.2 2.1 2.4

Annual (c) -1.4 0.8 3.8 0.4

Update

Source: ABS, Sales of New Motor vehicles , Australia , cat. no. 9314.0

(b) The statistics are based on the VFACTS series produced by the Federal Chamber of Automotive Industries (FCAI). VFACTS reports the numbers of new motor vehicle sales by dealers and direct sales by manufacturers throughout Australia.

(a) Monthly figures (including the graph) are calculated on the trend series. Annual figures are calculated on the original series.

(c) 12 months ended June.

17 October 2017

0

10,000

20,000

30,000

40,000

50,000

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Number

Passenger vehicles Sports Utility Vehicles Other vehicles

What is measured? The ABS publication ‘Sales of New Motor Vehicles’ presents monthly statistics for new motor vehicle sales in Australia. The data can be broken into ‘passenger’, ‘sports utility’ and ‘other’ vehicles. ‘Other vehicles’ includes goods carrying vans, rigid trucks, prime movers and buses. The numbers in the two tables represent total motor vehicle sales. The graph shows sales of passenger, sports utility and other vehicles. Data at a state/territory level, by category, and in original, seasonally adjusted and trend terms is available from the ABS publication. This series is subject to large and irregular fluctuations and care should be taken when interpreting movements in the series. This bulletin reports the monthly results at the Australian aggregate level, using the trend and original series. Prior to October 2014, seasonally adjusted figures were used.

Related statistics in this bulletin  4.1 Retail turnover

Related publications  ABS, Motor Vehicle Census Australia, cat. no. 9309.0  ABS, Survey of Motor Vehicle Use, Australia, cat. no. 9208.0  FCAI, Vehicle sales http://www.fcai.com.au/sales  NAB, Monthly Business Survey

Monthly statistical bulletin

22

4.3 Dwelling approvals

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Number (a) \ July 15 133 17 012 19 767 20 184 17 882

August 15 676 17 367 19 554 19 582

September 16 269 17 759 19 417 18 900

October 16 812 18 228 19 356 18 273

November 17 166 18 759 19 383 17 820

December 17 248 19 319 19 552 17 559

January 17 119 19 845 19 777 17 493

February 16 886 20 256 19 999 17 577

March 16 707 20 456 20 234 17 618

April 16 643 20 403 20 499 17 591

May 16 646 20 249 20 642 17 633

June 16 765 20 020 20 536 17 753

Annual (b) 199 712 230 849 238 256 219 781

This month compared to same month in previous year - per cent change (a)

July 11.6 12.4 16.2 2.1 -11.4

August 13.9 10.8 12.6 0.1

September 17.5 9.2 9.3 -2.7

October 21.7 8.4 6.2 -5.6

November 25.1 9.3 3.3 -8.1

December 26.2 12.0 1.2 -10.2

January 26.0 15.9 -0.3 -11.5

February 24.3 20.0 -1.3 -12.1

March 22.0 22.4 -1.1 -12.9

April 19.6 22.6 0.5 -14.2

May 17.0 21.6 1.9 -14.6

June 14.4 19.4 2.6 -13.6

Annual (b) 21.0 15.6 3.2 -7.8

Update

Source: ABS, Building Approvals, Australia , cat. no. 8731.0

(a) Monthly figures (including the graph) are calculated on the trend series. Annual figures are calculated on the original series.

(b) 12 months ended June.

3 October 2017

0

5 000

10 000

15 000

20 000

25 000

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Number

What is measured? The ABS publication ‘Building Approvals’ reports the number of dwelling units approved in Australia—where a dwelling is a self-contained suite of rooms for long-term residential use. The data for this publication is compiled from, amongst other sources, permits issued by various jurisdictions. It shows the number of dwelling units approved by state and territory, and by sector (private or public).

This publication also contains data on the value of building approved for residential buildings and non-residential buildings. This series is subject to large and irregular fluctuations and care should be taken when interpreting movements in the series. This bulletin reports the monthly results at the Australian aggregate level, using the trend and original series. Prior to October 2014, seasonally adjusted figures were used.

Related statistics in this bulletin  5.2 Housing and cash interest rates  5.3 Lending for housing

 5.4 Home loan affordability

Related publications  ABS, Building Activity, Australia, cat. no. 8752.0

 ABS, Construction Work Done, Australia, cat. no. 8755.0  ABS, Engineering Construction Activity, Australia, cat. no. 8762.0

Monthly statistical bulletin

23

4.4 Business investment

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Chain volume measures (a) (b) - $ million

September 70 183 65 916 63 141 57 636 52 211

December 69 214 65 761 62 160 55 952 52 345

March 67 536 64 934 60 902 54 310 52 832

June 66 304 63 931 59 333 52 961 53 390

Annual (c) 265 252 259 971 245 845 223 159 209 171

This quarter compared to same quarter in previous year - per cent change (a) (b)

September 15.3 -6.1 -4.2 -8.7 -9.4

December 8.3 -5.0 -5.5 -10.0 -6.4

March 1.4 -3.9 -6.2 -10.8 -2.7

June -3.7 -3.6 -7.2 -10.7 0.8

Annual (c) 4.9 -2.0 -5.4 -9.2 -6.3

(c) Year ending 30 June.

Update 6 December 2017

Source: ABS, Australian national accounts: National income, expenditure and product , cat. no. 5206.0

(a) Reference year for chain volume measures is 2013-14.

(b) Monthly figures (including the graph) are calculated using the trend series and chain volume measures. Annual figures are calculated using original, current data.

40 000

45 000

50 000

55 000

60 000

65 000

70 000

75 000

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

$ million

What is measured? Business investment is a component of the wider ABS System of National Accounts statistics. The business investment component measures private gross fixed capital formation in non-dwelling construction, machinery and equipment, ‘cultivated biological resources’ (such as livestock) and ‘intellectual property products’ (such as R&D) by private businesses. This bulletin reports both monthly trend chain volume measures and annual original current measures for private business new capital formation. The ABS also publishes seasonally adjusted data for this series. Prior to October 2014, seasonally adjusted figures were published.

Related statistics in this bulletin  1.1 Employment  3.1 Gross domestic product  3.3 Wages and profits share  5.1 Business interest rates  5.5 Stock exchange indexes

Related publications  NAB, Monthly Business Survey  Westpac - Melbourne Institute, Consumer Sentiment Bulletin

Monthly statistical bulletin

24

4.5 Bankrupts

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Non-business related bankrupts - Number

September 4 281 3 914 3 498 3 406 3 187

December 4 097 3 892 3 408 3 286 3 087

March 3 884 3 998 3 624 3 277 3 311

June 4 071 3 160 3 403 3 476 3 035

Annual (b) 16 333 14 964 13 933 13 445 12 620

Business related bankrupts - Number

September 1 683 1 240 1 072 1 132 1 190

December 1 383 1 126 895 1 040 1 013

March 1 086 1 140 903 964 1 052

June 1 302 885 968 1 187 964

Annual (b) 5 454 4 391 3 838 4 323 4 219

Total bankrupts

September 5 964 5 154 4 570 4 538 4 377

December 5 480 5 018 4 303 4 326 4 100

March 4 970 5 138 4 527 4 241 4 363

June 5 373 4 045 4 371 4 663 3 999

Annual (b) 21 787 19 355 17 771 17 768 16 839

This quarter compared to same quarter in previous year - per cent change

September 1.0 -13.6 -11.3 -0.7 -3.5

December -5.3 -8.4 -14.2 0.5 -5.2

March -14.0 3.4 -11.9 -6.3 2.9

June -3.8 -24.7 8.1 6.7 -14.2

Annual (b) -5.5 -11.2 -8.2 0.0 -5.2

Update 18 October 2017 Source: Australian Financial Security Authority

(a) The quarterly figures are provisional. Annual totals are verified and reported in AFSA's Annual Report. However, subsequent revisions are not made to the quarterly figures.

(b) Year ended 30 June.

0

2 000

4 000

6 000

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Number of total bankrupts

What is measured? The Australian Financial Security Authority (AFSA) is the Australian Government agency responsible for the administration and regulation of the personal insolvency system. Every quarter AFSA publishes results of their activities under the Bankruptcy Act 1966. AFSA publish preliminary figures in their reports and verified annual figures in their annual report. The data is categorised into national, state/territory and regional results for different types of personal insolvency activity (namely, bankrupts, debt agreements and personal insolvency agreements.) This bulletin reports the data for non-business related bankrupts, business related bankrupts (where bankruptcy is directly related to a business interest) and total bankrupts. This data does not cover corporate insolvency. From January 2013, AFSA (formerly known as Insolvency and Trustee Service Australia) commenced reporting the number of individual debtors, as opposed to the number of administrations.

Related statistics in this bulletin  3.4 Household debt and household saving ratios  5.2 Housing and cash interest rates  5.4 Home loan affordability

Monthly statistical bulletin

25

5.1 Business interest rates

Month 2012-13 2013-14 2014-15 2015-16 2016-17

Small business interest rate (a) (b) - per cent

September 7.75 6.85 6.65 6.05 5.75

December 7.30 6.80 6.60 6.05 5.75

March 7.30 6.75 6.35 6.10 5.75

June 7.10 6.75 6.05 5.90 5.75

Annual average (d) 7.36 6.79 6.41 6.03 5.75

Large business interest rate (a) (c) - per cent

September 6.15 5.05 4.70 4.00 3.75

December 5.65 4.90 4.65 4.05 3.70

March 5.50 4.85 4.30 4.15 3.75

June 5.35 4.80 4.05 3.95 3.75

Annual average (d) 5.66 4.90 4.43 4.04 3.74

(a) The data are weighted average rates, which are calculated from outstanding credit held by businesses. (b) In this context, a small business loan is defined as being less than $2 million. (c) In this context, a large business loan is defined as being $2 million or more. (d) Quarterly average, year ending June.

Source: RBA website, Statistical Tables, Interest Rates, Indicator Lending Rates (F5).

Update

Second business day of each month

0

1

2

3

4

5

6

7

8

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Per cent

Small business rate Large business rate

What is measured? The Reserve Bank of Australia publishes a range of interest rates on its website. The rates are indicative of the rates paid in different sectors of the economy. The small business interest rate is the weighted average rate of interest being paid on business loans less than $2 million. The large business interest rate is the weighted average rate of interest being paid on business loans of $2 million or more. The weighted average process generates interest rates that are not reflective of new lending interest rates because the calculation includes all previous loans issued that are still outstanding. The measure is a more accurate reflection of the debt servicing costs experienced, on average, by businesses.

Related statistics in this bulletin  2.4 Consumer price index  3.1 Gross domestic product  3.3 Wages and profits share  4.4 Business investment

Related publications  RBA, Statement on Monetary Policy  Melbourne Institute, Monthly

Bulletin of Economic Trends

Monthly statistical bulletin

26

5.2 Housing and cash interest rates

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Banks' housing interest rate - per cent

July 6.20 5.95 5.45 5.40 5.20

August 5.95 5.95 5.45 5.25 5.20

September 5.95 5.95 5.45 5.25

October 5.95 5.95 5.45 5.25

November 5.95 5.95 5.65 5.25

December 5.95 5.95 5.65 5.25

January 5.95 5.95 5.65 5.25

February 5.95 5.65 5.65 5.25

March 5.95 5.65 5.65 5.30

April 5.95 5.65 5.65 5.30

May 5.95 5.45 5.40 5.30

June 5.95 5.45 5.40 5.25

Interbank overnight cash rate - per cent

July 2.75 2.50 2.00 1.75 1.50

August 2.55 2.50 2.00 1.52 1.50

September 2.50 2.50 2.00 1.50

October 2.50 2.50 2.00 1.50

November 2.50 2.50 2.00 1.50

December 2.50 2.50 2.00 1.50

January 2.50 2.50 2.00 1.50

February 2.50 2.28 2.00 1.50

March 2.50 2.25 2.00 1.50

April 2.50 2.25 2.00 1.50

May 2.50 2.04 1.77 1.50

June 2.50 2.00 1.75 1.50

Source: RBA website, Statistical Tables, Interest Rates , (F1.1 and F5).

Update First and second business day of each month.

0

1

2

3

4

5

6

7

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

Per cent

Bank rates for housing loans Interbank Overnight Cash Rate

What is measured? The Reserve Bank of Australia (RBA) publishes a range of interest rate statistics on its website, including interest rates for personal and business lending. The figures in the first table on the left are banks’ standard variable home loan rate for owner occupiers. These rates are calculated by the RBA using the average rates from large lenders. The figures in the second table are the ‘Interbank Overnight Cash Rate.’ The ‘interbank rate’ is a weighted average of the interest rates at which banks have borrowed and lent exchange settlement funds overnight. This interest rate significantly affects other interest rates in the economy. Monthly figures are an average of daily figures for the month.

Related statistics in this bulletin  2.4 Consumer price index  3.4 Household debt and household saving ratios

 5.1 Business interest rates  5.4 Home loan affordability  8.4 Short-term interest rates

Related publications  RBA, Bulletin  RBA, Financial Stability Review  RBA, Statement on Monetary

Policy  Melbourne Institute, Monthly Bulletin of Economic Trends

Monthly statistical bulletin

27

5.3 Lending for housing

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Value of finance commitments for owner-occupied housing: % change (a) (b) (c)

July 0.8 -0.1 2.6 -0.5 0.7

August 0.8 0.1 2.5 -0.5

September 0.9 0.4 2.0 -0.2

October 1.0 0.6 1.1 0.1

November 1.0 1.1 0.2 0.3

December 0.9 1.5 -0.5 0.4

January 1.7 1.7 -0.8 0.3

February 0.5 1.7 -0.6 0.3

March 0.5 1.6 -0.3 0.5

April 0.4 1.7 -0.2 0.7

May 0.2 1.9 -0.2 0.8

June 0.0 2.2 -0.4 0.8

Value of finance commitments for investment housing: % change (a) (b) (c)

July 4.6 2.3 -4.1 2.1 -1.0

August 5.0 2.7 -5.0 2.5

September 4.6 2.7 -5.0 2.7

October 3.7 2.0 -3.9 2.4

November 2.7 1.5 -2.5 1.9

December 1.7 1.3 -1.2 0.9

January 1.0 1.3 0.0 -0.1

February 0.6 1.3 0.8 -1.2

March 0.6 1.0 1.2 -1.7

April 0.8 0.2 1.4 -1.6

May 1.3 -1.2 1.6 -1.3

June 1.8 -2.7 1.9 -1.1

(a) Includes re-financing. (b) Using the trend series. (c) % change from previous month.

Update

Source: ABS, Housing Finance , cat. no. 5609.0 12 October 2017

- 6

- 5

- 4

- 3

- 2

- 1

0

1

2

3

4

Jun-2014 Jun-2015 Jun-2016 Jun-2017 Jun-2018

Owner-occupied

Investment

Monthly % change What is measured?

The ABS housing finance publication measures the number and value of finance commitments made by Australian lenders for housing purposes. The lending figures relate to persons looking to buy or build homes to live in (owner occupiers), as well as those seeking to buy or build homes for investment purposes. This data relates to the value of finance commitments for owner occupied housing and investment housing. It is not possible to exclude the value of re-financing from investment housing. As such, it has been included in all of the data.

Related statistics in this bulletin  3.4 Household debt and household saving ratios  4.3 Dwelling approvals  5.2 Housing and cash interest

rates  5.4 Home loan affordability

Related publications  ABS, Lending Finance, cat. no. 5671.0

Monthly statistical bulletin

28

5.4 Home loan affordability

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Average size of new loans for owner occupied houses (a) - $

September 300 100 301 500 325 200 376 600 367 700

December 306 700 317 700 334 600 373 900 375 800

March 300 600 321 600 333 500 354 700 368 200

June 303 300 328 000 347 800 360 800 375 500

Annual average (b) 301 817 313 217 332 667 365 425 369 233

Loan repayments as a proportion of family income - per cent

September 34.0 30.9 31.2 32.4 30.8

December 33.7 31.7 32.4 33.9 31.7

March 32.8 31.5 31.9 31.7 30.4

June 32.0 31.7 31.2 31.2 31.4

Quarterly median house prices (capital cities - Australia) - $

September 516 919 565 828 620 682 697 334 712 776

December 528 818 594 632 647 768 693 645 743 500

March 537 726 605 411 657 890 683 796 763 892

June 546 941 617 633 683 985 703 187 768 200

(b) Monthly average ending June.

Sources: Real Estate Institute of Australia and Adelaide Bank 'Housing Affordability Report Real Estate Institute of Australia and Adelaide Bank 'Real Estate Market Facts' ABS, Housing Finance , cat. no. 5609.0

Update 12 October 2017 (cat. no. 5609.0) December 2017 (REIA reports)

(a) Includes the construction and purchase of new dwellings, and the purchase of established dwellings (including refinancing). Excludes alterations and additions.

25.0

27.5

30.0

32.5

35.0

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Loan repayments as a proportion of family income What is measured?

The ABS’ Housing Finance publication measures the number and value of finance commitments made by Australian lenders for housing. The loan size figures contained in this bulletin are for people buying or building homes to live in (owner occupiers). The Real Estate Institute of Australia /Adelaide Bank Housing Affordability Report provides data on number of loans, loan repayments and family income by State/Territory and in Australia. This bulletin shows loan repayments as a proportion of family income. The Real Estate Institute of Australia/Adelaide Bank also publish a Real Estate Market Facts publication, from which the median house prices are derived. Quarterly median house prices have only been included in this bulletin in 2016.

Related statistics in this bulletin  2.1 Average weekly ordinary time earnings  3.4 Household debt and household

saving ratios  5.2 Housing and cash interest rates  5.3 Lending for housing

Related publications  ABS, Lending Finance, cat. no. 5671.0  Housing Industry Association,

Affordability Report, Quarterly

Monthly statistical bulletin

29

5.5 Stock exchange indexes

Month 2013-14 2014-15 2015-16 2016-17 2017-18

All ordinaries index (a)

July 5035.7 5623.1 5681.7 5644.0 5773.9

August 5125.3 5624.6 5222.1 5529.4 5776.3

September 5217.7 5296.8 5058.6 5525.2

October 5420.3 5505.0 5288.6 5402.4

November 5314.3 5298.1 5218.2 5502.4

December 5353.1 5388.6 5344.6 5719.1

January 5205.1 5551.6 5056.6 5675.0

February 5415.4 5898.5 4947.9 5761.0

March 5403.0 5861.9 5151.8 5903.8

April 5470.8 5773.7 5316.0 5947.6

May 5473.8 5774.9 5447.8 5761.3

June 5382.0 5451.2 5310.4 5764.0

S&P/ASX 200 index (b)

July 5052.0 5623.9 5699.2 5562.4 5720.6

August 5135.0 5625.9 5207.0 5433.0 5714.5

September 5218.9 5292.8 5021.6 5435.9

October 5425.5 5526.6 5239.4 5317.7

November 5320.0 5313.0 5188.6 5440.5

December 5352.2 5411.0 5295.9 5665.8

January 5190.0 5588.3 5005.5 5620.9

February 5404.8 5928.8 4880.9 5712.2

March 5394.8 5891.5 5082.8 5864.9

April 5489.1 5790.0 5252.2 5924.1

May 5492.5 5777.2 5378.6 5724.6

June 5395.7 5459.0 5233.4 5721.5

(a) Index at the end of the month. Base: January 1980 = 500.0. (b) Index at the end of the month. Base: March 2000 = 3 133.3.

Source: Australian Stock Exchange, Market Statistics, Historical Market Statistics.

Update

1 October 2017

4 000

4 500

5 000

5 500

6 000

6 500

Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

All ordinaries index What is measured?

The purpose of these measures is to provide a broad picture of the performance of the Australian corporate sector. The corporate sector is characterised by larger businesses capable of listing on the Australian Stock Exchange (ASX). The All Ordinaries index is a weighted index of the share prices of the largest 500 companies listed on the ASX. The S&P/ASX 200 index comprises 200 stocks of larger companies listed on the ASX. The All Ordinaries is typically the benchmark for the performance of ‘the share market’, whereas the S&P/ASX 200 is indicative of the performance of investment grade, highly liquid, shares on the ASX.

Related statistics in this bulletin  3.1 Gross domestic product  3.4 Household debt and household saving ratios

 4.4 Business investment  5.1 Business interest rates

Related publications  Australian Securities Exchange, Indices, Types, Capitalisation indices

Monthly statistical bulletin

30

6.1 International trade in goods and services

Month 2013-14 2014-15 2015-16 2016-17 2017-18

Exports of goods and services (a) - $ million

July 26 376 26 727 26 376 26 875 31 071

August 27 453 26 297 26 463 26 880

September 27 481 26 214 27 408 27 812

October 27 017 26 636 26 444 28 088

November 26 708 26 530 25 944 31 348

December 28 663 27 185 24 955 33 901

January 29 142 27 439 25 027 32 201

February 29 252 27 625 25 113 32 106

March 28 610 27 004 25 880 32 671

April 27 551 24 898 26 016 30 070

May 26 545 25 447 26 274 32 189

June 26 596 26 281 25 933 31 780

Annual 330 976 318 298 312 281 365471

Imports of goods and services (a) - $ million

July 27 888 27 946 29 499 28 622 30 611

August 28 388 27 406 29 375 28 455

September 27 842 28 453 30 308 28 176

October 27 773 27 931 30 224 29 075

November 27 645 28 242 29 644 28 882

December 28 038 27 849 29 091 29 344

January 28 027 28 491 28 138 30 310

February 27 713 29 206 28 297 28 945

March 27 845 28 977 28 348 30 217

April 28 232 28 967 27 654 30 184

May 28 159 28 855 28 249 30 239

June 27 704 29 746 28 812 30 892

Annual 335 247 341 683 349 030 353111

(a) Balance of payments definition. Monthly figures are seasonally adjusted.

Source: ABS, International trade in goods and services , cat. no. 5368.0 Update

October 2017

15 000

20 000

25 000

30 000

35 000

Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17

$ million

Exports Imports

What is measured? International merchandise trade statistics measure Australia’s exports and imports of goods and services on a recorded trade basis.

Adjustments for coverage, timing and valuation are applied to recorded trade data to convert them to a balance of payments basis. These are the data reported in this bulletin.

Goods include all movable goods (merchandise) which change ownership between Australian residents and non-residents whether or not they actually cross customs frontier.

The services component covers services rendered by Australian residents to non-residents and by non-residents to residents (eg travel, transportation, insurance).

The ABS publishes these statistics in original, seasonally adjusted and trend terms.

Related statistics in this bulletin  3.1 Gross domestic product

 6.2 Balance on current account

 6.3 Terms of trade

 6.4 Exchange rates

Related publications  ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 RBA, Bulletin

 Treasury, Budget papers

 OECD, Economic outlook

 NAB, Australian outlook and research

 Melbourne Institute, Monthly bulletin of economic trends

Monthly statistical bulletin

31

6.2 Balance on current account

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Value (a) - $ million

September -15 477 -13 800 -13 304 -20 501 -11 020

December -17 456 -11 835 -11 708 -23 051 -3 557

March -11 881 -8 343 -13 140 -14 775 -4 754

June -12 351 -12 848 -20 681 -15 426 -9 562

Proportion of gross domestic product (a) - per cent

September -4.1 -3.5 -3.3 -5.0 -2.6

December -4.6 -3.0 -2.9 -5.6 -0.8

March -3.1 -2.1 -3.2 -3.6 -1.1

June -3.2 -3.2 -5.1 -3.7 -2.1

Value - 12 months ending quarter shown - $ million

September -55 639 -55 833 -46 757 -66 278 -64 461

December -62 096 -49 792 -46 880 -77 871 -44 412

March -57 876 -46 643 -51 243 -79 082 -34 965

June -56 995 -47 458 -58 623 -74 153 -29 469

Proportion of gross domestic product - 12 months ending quarter shown - per cent

September -3.7 -3.6 -2.9 -4.1 -3.9

December -4.1 -3.2 -2.9 -4.8 -2.6

March -3.8 -3.0 -3.2 -4.8 -2.0

June -3.7 -3.0 -3.6 -4.5 -1.7

(a) Seasonally adjusted.

Source: ABS, Balance of payments and international investment position , cat. no. 5302.0 ABS, Australian national accounts: national income, expenditure and product , cat. no. 5206.0

6 December 2017

-25 000

-20 000

-15 000

-10 000

-5 000

0

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Quarterly value - $ million What is measured?

The Australian current account, part of the ABS balance of payments statistics, measures receipts and payments between Australia and the rest of the world as a result of transactions in goods, services, income and transfers. The goods and services components are exports and imports; the income is earnings from factors of production, i.e. compensation of employees and investment income; and transfers are where there is no resulting exchange, e.g. gifts, taxes and grants. The difference between the receipts and payments gives the current account balance. When receipts are less than payments—the usual Australian position—then there is a negative balance on current account or a deficit. A positive balance is a surplus.

Related statistics in this bulletin  6.1 International trade in goods and services  6.3 Terms of trade  6.4 Exchange rates  6.5 Foreign debt

Related publications  RBA, Bulletin  Treasury, Budget papers  Treasury, Mid-year economic and

fiscal outlook  OECD, Economic outlook

Monthly statistical bulletin

32

6.3 Terms of trade

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Implicit price deflator for exports of goods and services (a) (b) - index

September 107.4 112.0 101.8 96.6 93.0

December 105.4 111.9 101.4 92.3 103.2

March 108.3 114.7 100.1 88.6 109.4

June 107.8 106.0 96.6 89.7 103.5

Implicit price deflator for imports of goods and services (a) (b) - index

September 91.8 98.7 98.2 104.3 98.5

December 92.4 98.4 99.9 103.9 98.9

March 92.7 101.4 100.6 100.7 99.3

June 92.6 98.6 101.3 99.5 99.9

Terms of trade (a) (b) (c) - index

September 117.0 113.5 103.6 92.6 94.3

December 114.1 113.7 101.5 88.9 104.3

March 116.8 113.1 99.5 87.9 110.2

June 116.4 107.6 95.3 90.2 103.6

(a) Quarterly figures are seasonally adjusted.

(c) Index of the ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services

Source: ABS, Balance of payments and international investment position , cat. no. 5302.0

Update

(b) Reference Year =2014-15

December 2017

75

85

95

105

115

125

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Terms of trade - index

What is measured? The terms of trade index is calculated by dividing the Implicit Price Deflator (IPD) for exports of goods and services by the IPD for imports of goods and services, with the result being multiplied by 100. An IPD is calculated by dividing a current price series by the corresponding chain volume measures series. A rise in the terms of trade index implies a country can purchase more imports from the same amount of exports.

Related statistics in this bulletin  6.1 International trade in goods and services  6.2 Balance on current account  6.4 Exchange rates  6.5 Foreign debt

Related publications  ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 RBA, Bulletin  Treasury, Budget papers  OECD, Economic outlook  NAB, Australian outlook and

research  Access Economics, Business outlook

Monthly statistical bulletin

33

6.4 Exchange rates

Month 2013-14 2014-15 2015-16 2016-17 2017-18

United States dollar (a) - cents

July 90.37 93.24 72.94 75.22 79.87

August 89.47 93.49 71.49 75.14 78.98

September 93.09 87.52 70.10 76.30

October 94.90 88.05 70.99 76.13

November 90.87 84.91 71.89 74.74

December 89.48 82.02 73.06 72.36

January 87.63 77.81 71.00 75.67

February 89.47 77.92 71.40 76.88

March 92.21 76.34 76.57 76.44

April 92.87 79.81 76.55 74.75

May 93.19 76.63 72.42 74.50

June 94.20 76.80 74.26 76.92

Trade weighted index (b) - index

July 69.40 71.50 61.40 63.30 79.87

August 69.20 71.90 60.90 63.20 78.98

September 71.20 68.90 59.90 63.90

October 72.10 69.40 60.30 65.00

November 69.80 68.20 61.80 65.30

December 68.90 66.50 62.70 63.90

January 67.70 63.90 61.50 65.80

February 68.90 64.10 61.40 66.70

March 71.00 63.30 64.40 66.20

April 71.40 65.30 63.80 64.50

May 71.50 63.70 61.70 63.80

June 72.00 63.80 62.50 65.50

(a) US cents per $Aus. Rate at end of month. (b) At end of month. Base: May 1970 = 100.0.

Source: RBA, Economic and Financial Statistics

Update October 2017

50

60

70

80

90

100

110

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18

US cents/Index

Trade weighted index

US cents per $Aus

What is measured? The exchange rate, also known as the foreign exchange rate, is the price of one currency expressed in terms of another currency. Any exchange rate can be quoted two ways, e.g. Australian dollars per one US dollar or US dollars per one Australian dollar. The convention for the Australian dollar is that it is quoted as the foreign currency price per Australian dollar. The trade weighted index (TWI) is the weighted average value of the Australian dollar in terms of the currencies of Australia’s 22 main trading partners. The base value was set at 100 in May 1970.

Related statistics in this bulletin  6.1 International trade in goods and services  6.2 Current account balance  6.3 Terms of trade  6.5 Foreign debt

Related publications  ABS, Australian national accounts: national income, expenditure and product, cat. no. 5206.0

 RBA, Bulletin  Treasury, Budget papers  OECD, Economic outlook  NAB, Australian outlook and

research  Access Economics, Business outlook  Melbourne Institute, Monthly

bulletin of economic trends

Monthly statistical bulletin

34

6.5 Foreign debt

Quarter (a) 2012-13 2013-14 2014-15 2015-16 2016-17

Gross foreign debt, public sector - $ million

September 302 970 297 604 336 540 377 702 385 885

December 299 331 309 948 352 152 369 639 374 810

March 298 706 319 658 370 915 377 722 388 075

June 295 099 328 565 357 382 380 909 387 448

Gross foreign debt, private sector - $ million

September 1 149 470 1 288 627 1 460 132 1 770 994 1 753 927

December 1 172 850 1 376 340 1 549 865 1 741 540 1 772 570

March 1 170 882 1 358 939 1 665 618 1 754 570 1 672 186

June 1 281 270 1 390 961 1 640 487 1 814 635 1 702 015

Gross foreign debt, total - $ million

September 1 452 440 1 586 231 1 796 672 2 148 696 2 139 812

December 1 472 181 1 686 288 1 902 017 2 111 180 2 147 380

March 1 469 588 1 678 598 2 036 533 2 132 292 2 060 261

June 1 576 370 1 719 527 1 997 869 2 195 544 2 089 463

Net foreign debt - $ million

September 752 660 830 031 902 617 1 001 366 1 057 154

December 764 341 869 746 941 029 1 023 140 1 034 531

March 772 221 868 051 974 125 1 030 745 1 011 765

June 813 217 887 914 969 514 1 056 125 990 599

Net foreign debt - percentage of gross domestic product (b)

September 50.2 53.9 56.4 61.6 63.4

December 50.7 55.8 58.6 62.6 61.0

March 50.9 55.0 60.5 62.8 58.6

June 53.2 55.8 60.0 63.8 56.5

(a) At end of period. (b) Net foreign debt at the end of the period as a proportion of gross domestic product for four quarters up to that period.

Sources: Update

ABS, Balance of payments and international investment position , Cat. no. 5302.0 December 2017 ABS, Australian national accounts: national income, expenditure and product, Cat. no. 5206.0

40

45

50

55

60

65

70

Jun 12 Jun 13 Jun 14 Jun 15 Jun 16 Jun 17

Net foreign debt - percentage of GDP

What is measured? Gross foreign debt measures all non-equity financial claims by non-residents on residents of Australia. The major component of gross foreign debt is the amount of borrowings from non-residents by residents of Australia. Net foreign debt is gross foreign debt less non-equity assets, such as foreign reserves held by the Reserve Bank, and lending by residents of Australia to non-residents. Net and gross foreign debt are measured at the end of each quarter.

Related statistics in this bulletin  6.1 International trade in goods and services

 6.2 Balance on current account  6.3 Terms of trade

 6.4 Exchange rates

Related publications  RBA, Bulletin  Treasury, Budget papers

 OECD, Economic outlook  NAB, Australian outlook and research  Access Economics, Business

outlook

Monthly statistical bulletin

35

7.1 Population

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Estimated resident population (a) - '000

September 22 845.6 23 241.2 23 593.6 23 936.8 24 307.2

December 22 942.2 23 321.7 23 672.6 24 012.8 24 385.6

March 23 058.9 23 432.0 23 779.0 24 122.7 24 511.8

June 23 145.9 23 504.1 23 850.8 24 210.8

Annual change - '000

September 410.0 395.6 352.4 343.2 370.4

December 414.8 379.5 350.9 340.2 372.8

March 411.1 373.1 347.0 343.7 389.1

June 403.4 358.2 346.7 360.0

Annual change - per cent

September 1.83 1.73 1.52 1.45 1.55

December 1.84 1.65 1.50 1.44 1.55

March 1.82 1.62 1.48 1.45 1.61

June 1.77 1.55 1.48 1.51

(a) At the end of the quarter.

Source: ABS, Australian demographic statistics , cat. no. 3101.0

Update

14 December 2017

1.0

1.2

1.4

1.6

1.8

2.0

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Annual change - per cent

What is measured? Known as the estimated resident population (ERP), the estimates include births, deaths and overseas and interstate migration for each of the states and territories plus external territories of Australia. When ERP data is first released it is preliminary estimates. As further data on overseas arrivals and departures becomes available the estimates are revised—this usually happens after a year. Revised population data becomes final only after each Census. The ABS also publishes data by age groups, major population regions and experimental estimates and projections of the Aboriginal and Torres Strait Islander population. Projection estimates are also available for resident populations, number of households and average household size.

Related statistics in this bulletin  7.2 Components of population change  7.3 Overseas arrivals—visitors and

settlers

Related publications  ABS, Australian historical population statistics, cat. no. 3105.0.65.001

 ABS, Population projections, cat. no. 3222.0  ABS, Population by age and sex, Regions of Australia, cat. no.

3235.0  ABS, Regional Population growth, cat. no. 3218.0

Monthly statistical bulletin

36

7.2 Components of population change

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

Births - '000

September 78.7 76.9 79.0 78.8 75.7

December 77.9 75.7 77.1 75.9 70.7

March 77.4 77.5 76.2 78.8 77.9

June 77.1 76.9 75.4 78.2

Annual 311.1 307.0 307.7 311.7

Deaths - '000

September 42.2 39.7 43.1 44.1 43.8

December 35.4 37.0 37.5 38.0 38.8

March 34.2 34.9 35.8 36.1 38.4

June 37.3 38.5 39.5 39.2

Annual 149.1 150.1 155.9 157.4

Natural increase - '000

September 40.0 39.8 38.4 34.8 31.9

December 36.5 37.2 35.9 37.9 31.9

March 42.5 38.7 39.5 42.7 39.5

June 43.2 42.7 40.4 39.0

Annual 162.2 158.4 154.2 154.4

Net overseas migration (a) - '000

September 63.0 54.4 49.5 49.2 64.5

December 50.5 38.1 35.4 38.2 46.5

March 70.0 63.9 61.9 63.7 86.6

June 43.7 30.0 31.8 34.3

Annual 227.2 186.4 178.6 185.4

(a) From September 2006 the ABS introduced an improved methodology for estimating

net overseas migration. These data are not comparable with earlier data.

Update

Source: ABS, Australian demographic statistics , cat. no. 3101.0 14 December 2017

15

30

45

60

75

90

105

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Persons '000

Births Natural increase Net overseas migration

What is measured? The latest several quarters of data are preliminary and accumulations or lags in the reporting process mean they can be an underestimate or an overestimate of the true number. Natural increase is calculated by subtracting the estimated number of deaths from births. Net overseas migration is the difference between permanent and long-term arrivals, and permanent and long-term departures. The ABS has developed an improved methodology for calculating net overseas migration from September quarter 2006 onwards. The methodology better captures the change in the characteristics of international travellers (e.g. the increasing numbers of overseas students and temporary long-term business migrants) but makes the data inconsistent with earlier figures.

Related statistics in this bulletin  7.1 Population  7.3 Overseas arrivals—visitors and settlers

Related publications  ABS, Migration, cat. no. 3412.0  ABS, Births, cat. no. 3301.0  ABS, Deaths, cat. no. 3302.0

Monthly statistical bulletin

37

7.3 Overseas arrivals—visitors and settlers

Month 2013-14 2014-15 2015-16 2015-16 2016-17

Visitors (a) (b) - '000

July 539.1 581.0 618.1 695.8 745.4

August 543.9 582.4 624.2 700.0

September 548.8 583.4 632.0 703.2

October 553.8 585.3 639.7 705.5

November 558.4 588.7 646.4 707.0

December 563.1 592.9 651.9 709.3

January 567.7 597.4 656.8 712.7

February 571.8 602.0 662.0 717.5

March 574.8 605.9 667.9 723.8

April 576.6 609.2 675.0 730.4

May 577.8 611.8 682.4 736.3

June 579.2 614.3 689.7 741.4

Annual 6 755.0 7 154.3 7 846.1 8 582.9

Settlers (c) - '000

July 11.8 9.6 9.4 10.6 8.4

August 13.6 11.8 11.7 13.43

September 12.2 10.5 10.1 11.7

October 12.0 10.3 9.4 11.1

November 11.4 10.3 9.6 11.2

December 11.9 11.9 10.4 11.7

January 11.6 11.3 10.1 9.7

February 11.7 12.0 10.8 12.0

March 11.7 13.3 12.1 11.7

April 10.8 11.7 11.3 10.8

May 11.6 12.0 11.7 10.6

June 10.4 10.6 10.9 9.3

Annual 140.7 135.1 127.5 133.7

(a) Monthly figures are trend figures. (b) Visitors are overseas visitors whose intended stay in Australia is less than 12 months.

Source: ABS, Overseas arrivals and departures , cat. no. 3401.0

(c) Settlers are travellers who hold migrant visas, New Zealand citizens who indicate an intention to settle, and those who are otherwise eligible to settle. Update

12 September 2017

6

8

10

12

14

Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Settlers '000

What is measured? The statistics in these tables, published by the Australian Bureau of Statistics (ABS), relate to the number of movements of visitors and settlers rather than the number of visitors and settlers (i.e. multiple movements of individual persons during a given period are each counted separately). Settlers’ data cover persons whose purpose on arriving in Australia is to permanently settle. Those people who apply for and are granted residency from within Australia (onshore grants) are not included. Complete immigration data can be sourced from the Department of Immigration and Border Protection (DIBP). Data on persons departing Australia as well as a range of other characteristics of travellers, such as age, sex and country of birth, are also available from the ABS, DIBP and Tourism Research Australia. In July 2017, estimates were revised back to July 2007 due to the removal of the outgoing passenger card. For further information, see ABS, Overseas arrivals and departures, cat. no. 3401.0

Related statistics in this bulletin  7.1 Population  7.2 Components of population change

Related publications  ABS, Australian demographic statistics, cat. no. 3101.0  ABS, Migration, cat. no. 3412.0  Department of Immigration and

Border Protection, Migration programme statistics  Tourism Research Australia, International visitor survey

Monthly statistical bulletin

38

7.4 Health—bulk billing and private health insurance

Quarter 2012-13 2013-14 2014-15 2015-16 2016-17

General practice bulk billing rate - per cent (a)

September 81.7 82.8 84.0 84.6 85.4

December 82.0 83.1 84.2 84.9 85.3

March 82.4 83.6 84.0 85.1 85.6

June 82.8 84.1 85.1 85.9 86.4

Annual 82.2 83.4 83.4 85.1 85.7

Private health insurance hospital coverage rate - per cent

September 46.7 47.0 47.2 47.4 46.8

December 46.7 47.0 47.2 47.2 46.6

March 46.7 47.0 47.4 47.2 46.5

June 46.9 47.2 47.4 47.0 46.1

(a) Out of hospital services only

Sources:

Department of Health, Medicare statistics online

Australian Prudential Regulation Authority (APRA), Private Health Insurance statistics

Update

late Nov 2017 for bulk billing data

14 Nov 2017 for health insurance data

42

43

44

45

46

47

48

49

78

80

82

84

86

Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17

Per cent Per cent

GP bulk billing rate (left axis) PHI Hospital Coverage - Aust (right axis)

What is measured? The general practice (GP) bulk billing rate is the percentage of all non-referred GP attendances (excluding practice nurse items) that are bulk billed. Bulk billing is a payment option under Medicare where the health service provider is paid 100 per cent of the scheduled fee directly by the government. The patient does not incur any out-of-pocket payment for a bulk billed service. A range of other Medicare data is available online from the Department of Health and Ageing, such as bulk billing rates for other medical services and the average patient contribution per service. The private health insurance hospital coverage rate is the proportion of the population who have hospital cover private health insurance. People with hospital cover are eligible for the Private Health Insurance Rebate (also known as the Federal Government 30 per cent Rebate) and do not have to pay the Medicare Levy Surcharge (payable by people earning above a certain income who do not have hospital cover). Other data available includes the amount of benefits paid; state level data is also available.

Related publications  APRA, Operations of the private health insurers: annual report

Monthly statistical bulletin

39

8.1 Economic growth

S

Quarters (a) (b)

Annual average (c) (d)

Country 2013 2014 2015 2016 Sep Dec Mar Jun

Australia 2.1 2.8 2.4 2.4 1.9 2.4 1.8 1.8

Brazil 3.0 0.5 -3.8 -3.6 -2.8 -2.4 -0.4 0.2

Canada 2.5 2.6 0.9 1.5 1.5 2.0 2.3 3.7

China 7.8 7.3 6.9 6.7 6.7 6.8 6.9 6.9

France 0.6 0.9 1.1 1.2 0.9 1.2 1.1 1.8

Germany 0.5 1.6 1.7 1.9 1.9 1.9 1.9 2.1

Indonesia 6.1 7.0 7.5 7.9 7.4 7.1 6.0 5.9

India 5.6 5.0 4.9 5.0 5.0 5.0 5.0 4.9

Italy -1.7 0.1 0.8 0.9 0.9 1.2 1.2 1.5

Japan 2.0 0.3 1.1 1.0 1.0 1.7 1.4 1.6

Korea 2.9 3.3 2.8 2.8 2.6 2.4 3.0 2.7

New Zealand 2.2 3.4 2.5 3.1 3.3 2.6 2.5 2.5

South Africa 1.3 0.7 -3.7 0.6 0.4 0.7 0.5

United Kingdom 2.5 1.7 1.3 0.3 2.0 1.9 2.0 1.7

United States 1.9 3.1 2.2 1.8 1.5 1.8 2.0 2.2

G7 average 1.7 2.4 2.6 1.6 1.4 1.7 1.8 2.1

EU average 1.3 1.8 2.0 1.5 1.9 2.0 2.1 2.4

OECD Average 0.2 1.7 2.2 1.9 1.6 2.0 2.1 2.4

(b) Seasonally adjusted, except for China.

(c) Percentage change in gross domestic product at constant prices over previous year.

(d) Years shown are calendar years. Source: IMF WEO

.. Not available

Source: OECD

Update

October 2017

(a) Percentage change in gross domestic product at constant prices over corresponding quarter in previous year. Source: OECD iLibrary

2016 2017

-2

0

2

4

6

Jun 12 Jun 13 Jun 14 Jun 15 Jun 16 Jun 17

Per cent

Australia EU average OECD Average

What is measured? Economic growth is measured using estimates of the gross domestic product (GDP) of an economy. GDP is equal to an economy’s total output of goods and services less inputs, used in the production of those goods services, but before allowing for depreciation.

GDP statistics are published in current prices and constant prices, i.e. adjusted for the effects of inflation. It is the GDP at constant prices data that is used to show economic growth. This is also known as real growth.

The data shown here is from estimates of GDP compiled following international standards.

Related statistics in this bulletin  3.1 Gross domestic product

 3.2 Non-farm gross domestic product

 8.2 Consumer prices

 8.3 Unemployment rates

 8.4 Short-term interest rates

Related publications  OECD, Economic outlook

 IMF, International financial statistics

 IMF, World economic outlook

Monthly statistical bulletin

40

8.2 Consumer prices

Months (a)

Annually (a) (b)

Country 2013 2014 2015 2016 May Jun Jul Aug

Australia (c) 2.4 2.5 1.5 1.3 1.9

Brazil 6.2 6.3 9.0 8.7 3.6 3.0 2.7 2.5

Canada 0.9 1.9 1.1 1.4 1.3 1.0 1.2 1.4

China 2.6 2.0 1.4 2.0 1.5 1.5 1.4 1.8

France 0.9 0.5 0.0 0.2 0.8 0.7 0.7 0.9

Germany 1.5 0.9 0.2 0.5 1.5 1.6 1.7 1.8

India 6.4 6.4 6.4 3.5 1.1 1.1 1.8

Indonesia 10.9 6.4 5.9 4.9 4.3 4.4 3.9 3.8

Italy 1.2 0.2 0.0 -0.1 1.4 1.2 1.1 1.2

Japan 0.4 2.7 0.8 -0.1 0.4 0.4 0.4 0.0

Korea 1.3 1.3 0.7 1.0 2.0 1.9 2.2 2.6

New Zealand (c) 1.1 1.2 0.3 0.6 1.7

Russian Federation 6.8 7.8 15.5 7.0 4.1 4.4 3.9 3.3

South Africa 5.8 6.1 4.5 6.6 5.3 5.0 4.4 4.6

United Kingdom 2.6 1.5 0.0 0.7 2.9 2.6 2.6 2.9

United States 1.5 1.6 0.1 1.3 1.9 1.6 1.7 1.9

G7 1.3 1.6 0.2 0.8 1.6 1.4 1.5

OECD - Europe 1.9 1.2 0.6 0.9 2.5 2.3 2.2

OECD - Total 1.6 1.7 0.6 1.1 2.1 1.9 2.0

(a) Percentage change in consumer price indexes over previous year. (b) Years shown are calendar years. (c) Data only available quarterly.

Source: OECD iLibrary

Update

October 2017

2017

0

1

2

3

4

Jun-2013 Jun-2014 Jun-2015 Jun-2016 Jun-2017

Per cent

OECD - Europe OECD - Total Australia

What is measured? A consumer price index (CPI) is used to measure price inflation for households. The goods and services purchased by households are combined into a basket that reflects their consumption patterns. From time to time the basket is reviewed to take into account changes in consumption patterns. The data in this bulletin shows the changes in the overall prices of baskets of goods and services in the various countries. Most countries conduct surveys on a monthly basis, however Australia and New Zealand conduct quarterly surveys.

Related statistics in this bulletin  2.4 Consumer price index  8.1 Economic growth  8.3 Unemployment rates  8.4 Short term interest rates

Related publications  OECD, Economic outlook  IMF, International financial statistics

Monthly statistical bulletin

41

8.3 Unemployment rates

Months (a)

Annual average (a) (b)

Country 2013 2014 2015 2016 Apr May Jun Jul

Australia 5.7 6.1 6.1 5.7 5.7 5.5 5.7 5.7 OECD

Canada 7.1 6.9 6.9 7.0 6.5 6.6 6.5 6.3

France 10.3 10.3 10.4 9.9 9.5 9.6 9.6 9.8

Germany 5.2 5.0 4.6 4.1 3.9 3.8 3.8 3.7

Italy 12.1 12.7 11.9 11.7 11.2 11.4 11.2 11.3

Japan 4.0 3.6 3.4 3.1 2.8 3.1 2.8 2.8

Korea 3.1 3.5 3.6 3.7 4.0 3.6 3.8 3.6

New Zealand (c) 6.2 5.8 5.8 5.1 4.8

United Kingdom 7.6 6.2 5.3 4.8 4.4 4.4

United States 7.4 6.2 5.3 4.9 4.4 4.3 4.4 4.3

EU Average 10.9 10.2 9.4 8.6 7.8 7.7 7.7 7.7

G7 Average 7.1 6.4 5.8 5.5 5.0 5.0 5.0 5.0

OECD Average 7.9 7.4 6.8 6.3 5.9 5.8 5.8 5.8

(a) Unemployment as a percentage of labour force. (b) Years shown are calendar years. (c) Data only available quarterly. (d) Monthly data seasonally adjusted

Note: Unemployment rates shown above have been adjusted as necessary by the OECD to conform to international definitions and to ensure consistency over time.

Source: OECD.Stat

Update

October 2017

2017

3

4

5

6

7

8

9

10

11

12

Jul-2013 Jul-2014 Jul-2015 Jul-2016 Jul-2017

Per cent

Australia

OECD Average

EU Average

What is measured? The unemployment rate records the number of persons aged 15 and over who are not employed and who have been actively looking for work as a proportion of the labour force. The labour force consists of those persons in employment and those persons who are unemployed.

The data are drawn from monthly labour force surveys in all the countries presented, except for New Zealand, where the survey is conducted on a quarterly basis.

For comparative purposes the OECD standardises national data using international conventions.

Related statistics in this bulletin  1.3 Labour Force

 8.1 Economic growth

 8.2 Consumer prices

 8.4 Short-term interest rates

Related publications  OECD, Economic outlook

 OECD, Main economic indicators

 IMF, International financial statistics

Monthly statistical bulletin

42

8.4 Long-term interest rates

Country 2013 2014 2015 2016 Q3 Q4 Q1 Q2

Australia 3.7 3.7 2.7 2.3 1.9 2.5 2.8 2.5

Canada 2.3 2.2 1.5 1.3 1.1 1.4 1.7 1.5

China 3.8 4.2 3.4 2.9 2.8 2.9 3.3 3.5

Eurozone 3.0 2.0 1.2 0.9 0.6 0.9 1.2 1.1

France 2.2 1.7 0.8 0.5 0.2 0.6 1.0 0.8

Germany 1.6 1.2 0.5 0.1 -0.1 0.1 0.3 0.3

India 8.1 8.6 7.8 7.2 7.2 6.6 6.7 6.7

Italy 4.3 2.9 1.7 1.5 1.2 1.8 2.2 2.2

Japan 0.7 0.6 0.4 0.0 -0.1 0.0 0.1 0.0

United Kingdom 2.4 2.6 1.9 1.3 0.8 1.3 1.3 1.1

United States 2.4 2.5 2.1 1.8 1.6 2.1 2.4 2.3

(a) 10 year government bond. (b) Years shown are calendar years. (c) Quarterly average.

Source: Oxford Economics

Update

December 2017

Quarters (c)

Annual average (a) (b) 2016 2017

What is measured? The interest rates shown in this table are the average yield on 10-year Government bonds for the period indicated. The movements in these long-term rates are a useful indicator of the financing costs faced by governments in raising new long-term government debt.

Related statistics in this bulletin  5.1 Business interest rates  5.2 Housing and cash interest rates

 6.4 Exchange rates  8.2 Consumer prices

Related publications  OECD, Economic outlook  OECD, Main economic indicators

 IMF, International financial statistics

-6

-4

-2

0

2

4

6

2013 Q1 2014 Q1 2015 Q1 2016 Q1 2017 Q1

Per cent

Australia Eurozone United States

Monthly statistical bulletin

43

Related publications—links

Links to the electronic version of related publications referred to in the bulletin are listed below:

ABS, Retail Trade, Australia, Cat. No. 8501.0

ABS, Australian labour market statistics, Cat. no. 6105.0

Melbourne Institute, Monthly bulletin of economic trends

ABS, Job vacancies, Cat. no. 6354.0

ABS, Employee earnings, benefits and trade union membership, Cat. no. 6310.0

ABS, Employee earnings and hours, Cat. no. 6306.0

ABS, Labour price index, Cat. no. 6345.0

ABS, Australian national accounts: national income, expenditure and product, Cat. no. 5206.0

ABS, Average weekly earnings, Cat. no. 6302.0

Melbourne Institute, Survey of consumer inflationary expectations

ABS, A guide to the consumer price index, Cat. no. 6440.0

ABS, Consumer price index: concepts, sources and methods, Cat. no. 6461.0

ABS, Consumer price index, Cat. no. 6401.0

RBA, Bulletin

Treasury, Budget papers

Treasury, Mid-year economic and fiscal outlook 2015-16

OECD, Economic outlook

NAB, Australian outlook and research

Deloitte Access Economics, Business outlook

Westpac - Melbourne Institute, Survey of consumer sentiment

NAB, Monthly business survey

FCAI, Vehicle sales

ABS, Motor vehicle census, Cat. no. 9309.0

ABS, Survey of motor vehicle use, Cat. no. 9208.0

ABS, Engineering construction activity, Cat. no. 8762.0

ABS, Construction work done, Cat. no. 8755.0

ABS, Dwelling unit commencements, Cat. no. 8750.0

ABS, Building activity, Cat. no. 8752.0

Tony Kryger, ‘State economic and social indicators’, Research paper, no. 14, Parliamentary Library, 2007-08

RBA, ‘Domestic financial markets and conditions’, Statement on monetary policy

Adrian Makeham-Kirchner, ‘Home loan interest rates and repayments’, Background note, Parliamentary Library, 2007-08

RBA, Financial stability review

RBA, Statement on monetary policy

ABS, Lending finance, Cat. no. 5671.0

ABS, Assets and liabilities of Australian securitisers, Cat. no. 5232.0.55.001

RBA, ‘Loan approvals, repayments and housing credit growth’, Bulletin, July 2007

REIA and Deposit Power, Housing affordability report

HIA - Commonwealth Bank, Affordability report

Australian Securities Exchange, S&P/ASX index overviews

ABS, Australian historical population statistics, Cat. no. 3105.0.65.001

ABS, Population projections, Cat. no. 3222.0

ABS, Population by Age by Sex, Regions of Australia, Cat. no. 3235.0

ABS, Migration, Cat. no. 3412.0

ABS, Births, Cat. no. 3301.0

ABS, Deaths, Cat. no. 3302.0

Department of Immigration and Citizenship (DIAC), Population flows

DIAC, Immigration update

ABS, Australian demographic statistics, Cat. no. 3101.0

Tourism Research Australia, International visitor survey

APRA, Operations of the private health insurers: annual report

IMF, International financial statistics

IMF, World economic outlook

OECD, Main economic indicators

Monthly statistical bulletin

44

Glossary

average weekly earnings. Average gross (before tax) earnings of employees.

average weekly ordinary time earnings. Weekly earnings attributed to award, standard or agreed hours of work.

balance on current account. The difference between receipts and payments as the result of transactions in goods, services, income and current transfers between Australia and the rest of the world. A current account deficit means that total payments exceed total receipts, while a current account surplus means the reverse.

bankruptcies. Bankruptcies and Administration Orders under Parts IV and XI of the Bankruptcy Act.

business investment. Private gross fixed capital formation for machinery and equipment; non-dwelling construction; livestock; and intangible fixed assets.

cash market rate (interbank overnight). Weighted average of the interest rates at which banks have borrowed and lent exchange settlement funds during the day.

consumer price index. A measure of change in the price of a basket of goods and services from a base period. Changes in the consumer price index are the most commonly used measure of inflation.

employed persons. Persons aged 15 and over who, during a period of one week, worked for one hour or more for pay or worked for one hour or more without pay in a family business or on a family farm.

general practice bulk billing rate. The percentage of general practitioner attendances (excluding practice nurse) that are bulk billed.

gross domestic product. The total market value of goods and services produced after deducting the cost of goods and services used up in the process of production but before deducting for depreciation.

gross domestic product—chain volume measures. Also known as real GDP, this is a measure used to indicate change in the actual quantity of goods and services produced. Economic growth is defined as a situation in which real GDP is rising.

gross foreign debt. All non-equity financial claims by non-residents on residents of Australia. The major component of gross foreign debt is the amount of borrowings from non-residents by residents of Australia.

household debt ratio. The amount of household debt at the end of a quarter expressed as a proportion of annual household gross disposable income. Household debt is the sum of housing and other personal debt, including securitised debt. Debt excludes debt owed by unincorporated enterprises.

household debt servicing ratio. Interest payments on housing and other personal debt expressed as a proportion of household gross disposable income.

household gross disposable income. The amount of income that households have available for spending after deducting any taxes paid, interest payments and transfers overseas.

household net disposable income. Household gross disposable income less depreciation of household capital assets.

household saving ratio. The ratio of household income saved to household net disposable income.

housing loan interest rate. The variable rate quoted by banks for loans to owner-occupiers.

implicit price deflator for non-farm gross domestic product. A measure of price change that is derived (hence the term implicit) by dividing gross non-farm product at current prices by gross non-farm product at chain volume measures.

labour force. The employed plus the unemployed.

labour force participation rate. The number of persons in the labour force expressed as a percentage of the civilian population aged 15 years and over.

labour productivity. Gross domestic product (chain volume measures) per hour worked in the market sector.

long-term unemployed. Persons unemployed for a period of 52 weeks or more.

male total average weekly earnings. Weekly ordinary time earnings plus weekly overtime earnings of all male employees. This measure of earnings is used in the process of benchmarking age pensions.

market sector. All industries excluding those (five) industries whose outputs are not marketed. These excluded industries are: property and business services; government administration and defence; education; health and community services; and personal and other services.

Monthly statistical bulletin

45

natural increase. Excess of live births over deaths.

net foreign debt. Gross foreign debt less non-equity assets such as foreign reserves held by the Reserve Bank of Australia and lending by residents of Australia to non-residents.

net overseas migration. Net permanent and long-term overseas migration plus an adjustment for the net effect of ‘category jumping’.

non-farm gross domestic product. Gross domestic product less that part which derives from agricultural production and services to agriculture.

overseas visitors. Visitors from overseas who intend to stay in Australia for less than 12 months.

private health insurance hospital coverage rate. The percentage of the total population that has private health insurance hospital coverage.

profits share. Gross operating surplus (the excess of gross output over costs incurred in producing that output) of all financial and non-financial corporate trading enterprises as a percentage of total factor income.

real average weekly earnings. Average weekly earnings adjusted for inflation as measured by the consumer price index.

seasonally adjusted estimates. Estimates in which the element of variability due to seasonal influences has been removed. Seasonal influences are those recur regularly each a year.

settlers. Travellers who hold migrant visas, New Zealand citizens who indicate an intention to settle and those who are otherwise eligible to settle.

terms of trade. The relationship between the prices of exports and the prices of imports. The usual method of calculating the terms of trade is to divide

the implicit price deflator for exports by the implicit price deflator for imports.

total factor income. Gross domestic product at market prices less the difference between taxes and subsidies, or the sum of compensation of employees, gross operating surplus and gross mixed income.

trade weighted index. A measure of the value of the Australian dollar against a basket of the foreign currencies of Australia’s major trading partners.

trimmed mean. Measures a weighted average of the middle 70 per cent of quarterly price changes in CPI classes reported by the ABS. In effect the 90 CPI classes which make up the CPI are ranked in terms of their quarterly percentage changes and the classes which account for the top and bottom 15 per cent of the distribution are excluded, or ‘trimmed’. This is one method of statistical manipulation of the consumer price survey results to exclude extreme price fluctuations from the CPI survey, in order to determine a trend rate of inflation.

turnover. Includes retail sales; wholesale sales; takings from repairs, meals and hiring of goods; commissions from agency activity; and net takings from gaming machines. From July 2000, turnover includes the Goods and Services Tax.

unemployed persons. Persons aged 15 and over who, during a period of one week, were not employed but had actively looked for work in the previous four weeks and were available to start work.

unemployment rate. The number of unemployed persons expressed as a percentage of the labour force.

wage price index. A measure of change in the price of labour (i.e. wages, salaries and overtime) unaffected by changes in the quality or quantity of work performed.

wages share. Compensation of employees (the total value of income from labour) as a percentage of total factor income.

weighted median. Measures the price change that is the median, or midpoint, price change of the distribution of price changes within the CPI survey. That is, all but the middle observation from the 90 classes within the CPI are excluded. This is one method of statistical manipulation of the consumer price survey results to exclude an array of volatile price fluctuations in order to determine a trend rate of inflation.

youth unemployment. Number of 15-19 year olds looking for full-time work.

youth unemployment rate. Number of 15-19 year olds looking for full-time work expressed as a percentage of the full-time labour force in the same age group.

Monthly statistical bulletin

46

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