Australian Bureau of Statistics released December key points of retail and other industry.
Chain Volume Measures - The trend estimate for inventories increased by 0.4 percent this quarter. The seasonally adjusted estimate increased 0.2 percent following a 0.6 percent rise in the previous quarter.
The trend estimate for Manufacturing sales of goods and services decreased 0.1 percent this quarter after an increase of 0.2 percent in the previous quarter. Seasonally adjusted Manufacturing sales decreased 0.9 percent after an increase of 0.6 percent in the September quarter 2005.
Wholesale trade's sales of goods and services in trend terms increased 0.6 percent this quarter, following a similar increase last quarter. In seasonally adjusted terms Wholesale sales increased 1 percent after a fall of 0.6 percent in the September quarter 2005.
Current Price Estimates - The trend estimate for company gross operating profits increased 3.5 percent this quarter. Seasonally adjusted the estimate increased 0.8 percent after a 2.9 percent rise in the previous quarter.
Comparison Between Company Gross Operating Profits And Gross Operating Surplus Price changes have had an impact on the value of inventories held by Australian businesses this quarter.
An inventories valuation adjustment (IVA) is applied in the calculation of the gross operating surplus of private non-financial corporations (GOS) estimate in the Australian National Accounts. As prices for inventories have fallen slightly in the December quarter, growth in GOS will be higher after the application of the IVA. The IVA for the December quarter is $1198m which is $54m lower than September quarter IVA of $1252m.
No adjustment is made to the company gross operating profits (CGOP) estimate in this publication and, as a result, users should exercise caution when comparing the two series. It should also be noted that there are other differences between the two series.
In particular, changes are made to GOS when annual benchmarks are applied and slightly different seasonal factors apply to the two series. Given this, while CGOP movements are an appropriate indicator for GOS, it is not the case that the two series will have equivalent seasonally adjusted movements from quarter to quarter.
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