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Gross Domestic Product: December 2011 quarter (new industry classification)
Embargoed until 10:45am  –  15 May 2012
Commentary

New data introduced into the quarterly national accounts

In official statistics, changes to international standards and classifications are done in cycles, with major upgrades happening every 10 to 15 years. The current cycle includes significant changes to:

  • the industry classification used for economic statistics (ANZSIC)
  • the manual used for balance of payments (BPM6)
  • the manual used for national accounts (2008 System of National Accounts).

Major revisions to the international standards we use require us to examine methodologies and data sources, which even with prioritisation is a significant undertaking. Most OECD countries – including the United States, Canada, and most of Europe, but not Australia – are following a similar timetable to New Zealand.

The purpose of this release is to re-publish the quarterly national accounts (which includes gross domestic product (GDP)) with a new industry classification that better reflects the current economy – ANZSIC06. This new release of GDP results in more up-to-date and relevant statistics by:

  • providing more detailed breakdowns for service industries while maintaining a similar structure for primary and goods-producing industries compared with the previous classification (ANZSIC96)
  • enabling better comparability with other countries 
  • improving quality from rigorous reviews of sources and methods, including seasonal adjustment
  • incorporating data from the latest annual benchmarks
  • presenting the information in a new set of tables and in a more user-friendly format in Infoshare.

Of all the new improvements incorporated into the quarterly national accounts for this release, the new annual benchmarks contribute the most to the revisions. New annual benchmarks have been incorporated up to the year ended March 2009 for GDP (previously 2007) and up to the year ended March 2011 for expenditure on GDP (GDE) (previously 2010). New annual benchmarks bring in new data that provide a more complete and updated picture of the economy for the 2007–2009 years – resulting in revised annual growth rates. Incorporating these new balanced years also results in the reduction of the previously published gap between the production and expenditure measures of GDP.

We have chosen to re-release previously published data using the new industry classification ahead of releasing Gross domestic product: March 2012 quarter  so that users can incorporate the new statistics into their forecasts.

Statistics NZ is currently implementing ANZSIC06 across all economic statistics including national accounts. Because the national accounts use a vast array of data, all data sources need to be converted to reflect new standards before they are implemented into national accounts. This requires considerable planning to ensure correct sequencing, avoid duplicating collections, and manage the impact of the changes on (mainly) business respondents.

The last major change to international standards took place around 2000, when the national accounts (SNA93), balance of payments (BPM5), and our industry classification (ANZSIC96) were implemented. Following on from the current industry update, there will be further work to incorporate updates to the international standards for balance of payments and national accounts.

Implementing ANZSIC06 across economic statistics has been a multi-year programme. It involved converting financial and structural statistics and short-term indicators including employment, prices, and industry into annual national accounts statistics back to 1972 and quarterly GDP back to the June 1987 quarter.

Another significant part of implementing ANZSIC06 was replacing the current quarterly gross domestic product compilation system we use to analyse and compile our statistics. This involved a complete rebuild of all components for both production and expenditure GDP, which has resulted in some revisions to various components. Where these changes are significant, they are mentioned in the commentary of this release. The new system is designed to support our ongoing work programme and allows us to implement changes like ANZSIC06 more efficiently over time.

Australia and New Zealand Standard Industrial Classification 2006 (ANZSIC06)

ANZSIC was developed by Statistics NZ and the Australian Bureau of Statistics (ABS) in the 1990s. It aimed to reflect the structure of Australian and New Zealand industries and improve comparability with other countries' statistics.

Industrial classifications are reviewed periodically to ensure they remain current. ANZSIC06 reflects changes that have occurred in the structure and composition of industry since ANZSIC96 was implemented. This includes changes to production practices, the development of new products and services, and advances in technology.

ANZSIC96 used a mixture of supply- and demand-side concepts to define industries, leading to criticism about inconsistent and arbitrary treatment of certain industry activities. ANZSIC06 has moved to supply-side based industries and groupings. Business units engaged in similar productive activities are grouped together and therefore exhibit similar production functions ('Production Functions' describes the transformation of intermediate outputs, through the application of labour and capital, to produce outputs).

ANZSIC06 also aligns as far as practicable with the International Standard Industrial Classification of All Economic Activities (ISIC) (Revision 4) and the North American Industry Classification System (NAICS) at the subdivision level.

Major changes from ANZSIC96 to ANZSIC06

The major changes from ANZSIC96 to ANZSIC06 are as follows.

  • Creation of a new division J (information media and telecommunications), incorporating units from different ANZSIC96 divisions including:
    • publishing (from former division C)
    • communication services (from former division J)
    • motion picture, radio, and television series (from former division P).
  • Separation of ANZSIC96 division L (property and business services) into three separate divisions (L, M, and N).
  • Application of the production function concept to government. This is a key principle of ANZSIC06, whereby units whose sole activity is undertaking or actually delivering government programmes are included in the classification that records the type of service they are delivering. This applies to both local and central government activity.

For more detailed information on the changes by industry, please see the table at the end of the commentary.

Annual data incorporated into GDP 

Benchmarks set the annual level of activity (in an industry or expenditure component) and quarterly indicators are used to determine quarterly movements. Often, data available on an annual basis is more complete, as quarterly series for both production and expenditure measures of GDP are produced from a smaller range of data than that available for the annual series. Deriving constant price annuals is an important part of national accounts as it enhances the quality of our constant price series and also aligns the production and expenditure measures of GDP.

New annual benchmarks have been incorporated up to the year ended March 2009 for the production measure of GDP, and up to the year ended March 2011 for the expenditure measure of GDP (GDE). Previously, the benchmarks were up to the year ended March 2007 for GDP, and the year ended March 2010 for GDE. See the Data quality section for more detail.

Where balanced annual years are not available, we make provisional estimates to provide the benchmarks for various quarterly series. We calculate these estimates using assorted methods and can often overstate or understate economic activity, which can cause revisions when the latest annual balanced years are incorporated. Incorporating three years of balanced annual benchmarks has caused significant revisions to the quarterly series (both the production and expenditure measure of GDP). Incorporating the benchmarks has caused more revisions than the changes to ANZSIC have.

Seasonal adjustment review

Seasonal variations occur in many quarterly series. These may be caused by several factors, such as the effect of Christmas on household spending patterns, or the influence of seasons on stock building in the dairy industry. The extent and nature of seasonality varies markedly between series. Not all seasonal influences are regular, strong, or of sufficient duration to permit reliable seasonal adjustment.

Seasonal adjustment attempts to remove seasonal variation from a series, allowing the remaining trend and irregular patterns to be more easily observed. Seasonal patterns can change over time. Therefore, it is necessary to review seasonal adjustment to ensure adjustments are done appropriately and the seasonally adjusted series are of good quality.

All published quarterly GDP series were reviewed as we implemented ANZSIC06. Series with a strong and stable seasonal pattern were either directly or indirectly adjusted to remove the seasonal effect. The indirect approach seasonally adjusts the individual component series and then aggregates these, via chain-linking, to produce the aggregate seasonally adjusted series. Direct adjustment removes the seasonal pattern at the total level of an aggregate series.

The stability and smoothness of the seasonally adjusted series affected whether we chose to adjust them directly or indirectly. For example, the seasonal pattern for information media and telecommunications (formally communication services under ANZSIC96) was weak, so this series is no longer seasonally adjusted. Wholesale trade has been changed to the indirect method, while arts, recreation, and other services was changed to the direct method as these changes create smoother series. On the expenditure side, gross fixed capital formation (both current price and chain-volume) were changed to the direct method as some of the lower-level component series were previously indirectly adjusted, but are now not seasonally adjusted.

A table summarising the type of seasonal adjustment for each industry and expenditure component can be found at the end of the commentary.

Changes in gross domestic product

We have revised gross domestic product due to a combination of changes in the new industry classification, updated annual benchmarks, updated chaining weights, and methodology improvements.

Incorporating the new annual benchmarks has contributed the most to the overall change in the level of activity. New annual benchmarks have been incorporated up until the March 2009 year, resulting in an increased level of activity for the 2007–2009 years. For more information on chaining weights, please refer to ‘Constructing a chain-volume series’ in the Data quality section of this release.

Implementing the new industry classification has had a minimal effect on the total level of activity. The purpose of the updated classification is to provide more detailed breakdowns, that better reflect the current economy. Revisions caused by the new classification include changes to input data surveys, such as the Economic Survey of Manufacturing, the Wholesale Trade Survey, and the Retail Trade Survey. Where these surveys are used as indicators of activity, the ANZSIC06-based series are now being used. In more recent quarters forward-cast ANZSIC96 series were being used.

Graph, Gross domestic product, quarterly.

Despite the revisions to the level of activity, growth in the December 2011 quarter was 0.3 percent, matching the December 2011 quarter growth rate originally published in Gross Domestic Product: December 2011 quarter.

Gross domestic product by broad industry groups

Changes to the primary industries

The primary industries consist of the following ANZSIC06 industries:

  • A Agriculture, forestry, and fishing
  • B Mining.

In the conversion from ANZSIC96 to ANZSIC06 there were no major changes to primary industries. The differences between the ANZSIC96 series and the ANZSIC06 series are due to the incorporation of new annual benchmarks for the years 2007, 2008, and 2009.

The impact of the new annual benchmarks has caused a downward level shift from the March 2007 quarter, as the benchmarks were at a lower level than the provisional estimates used for those years. The divergence of the two series from the March 2007 quarter to the March 2008 quarter is due to the effect of the 2008 benchmark on agriculture.

Graph, Primary industries, quarterly.

During the year ended March 2008 a drought affected the agriculture industry. The drought resulted in higher intermediate consumption (due to feed and grazing), which lowered value added for the year (value added = gross output - intermediate consumption), causing the drop in the ANZSIC06 agriculture series for this period.

The quarterly series is benchmarked to the annual series and the lower annual value added has caused revisions to the quarterly series. From the December 2006 quarter to the December 2008 quarter, previously published quarterly movements have been revised quite significantly, affected most by the new annual benchmarks.

Changes to the goods-producing industries     

The goods-producing industries consist of the following ANZSIC06 industries:

  • C Manufacturing
  • D Electricity, gas, water, and waste services
  • E Construction.

Under ANZSIC06, more activity has entered goods-producing industries than has left. This has resulted in a higher level for the revised goods-producing series in the graph below.

Graph, Goods-producing industries, quarterly.

Notable inclusions in the goods-producing industries that have caused this level shift are:

  • converters moving out of wholesale trade and into manufacturing
  • 'local government water supply, sewerage, and drainage' and 'waste treatment and disposal services' moving out of 'government administration, and defence' and into 'electricity, gas, and water'
  • 'waste disposal services' moving out of 'personal and other services'.

Quarterly growth in activity in goods-producing industries under ANZSIC96 and ANZSIC06 generally follow each other well. Under ANZSIC06, activity in the goods-producing industries decreased 1.1 percent in the December 2011 quarter, compared with a 1.6 percent fall under ANZSIC96.

The new industry breakdowns under ANZSIC06 were not the sole reason for revisions to the goods-producing industry. The incorporation of new annual benchmarks, along with new chaining weights, also contributed to these revisions. These factors together explain the revisions for the goods-producing industry, which showed movements in opposite directions to those previously published under ANZSIC96.

Changes to the service industries    

The service industries consist of the following ANZSIC06 industries:

  • F Wholesale trade
  • G Retail trade
  • H Accommodation and food services
  • I Transport, postal, and warehousing
  • J Information media and telecommunications
  • K Financial and insurance services
  • L Rental, hiring, and real estate services
  • M Professional, scientific, and technical services
  • N Administrative and support services
  • O Public administration and safety
  • P Education and training
  • Q Health care and social assistance
  • R Arts and recreation services
  • S Other services.

In the service industries, the changes from ANZSIC96 to ANZSIC06 have resulted in a lower level of activity. This has been caused by more industries moving out of, rather than into, the service industries.

Graph, Service industries, quarterly.

Notable exclusions from the service industries that have contributed to this level shift include:

  • converters moving out of wholesale trade and into manufacturing
  • units that manufacture and sell bread and bakery products moving out of retail trade and into manufacturing
  • 'waste disposal services' moving out of 'other services' and into 'electricity, gas, water, and waste services'. 

Updated annual benchmarks have also contributed to revising the level of activity in the services industries.

The largest revisions to the quarterly movements for services industry activity were in the December 2010, September 2010, March 2010, and March 2009 quarters.

Changes in expenditure on gross domestic product

ANZSIC06 changes do not have a significant effect on the expenditure measure of GDP compared with the production measure – the expenditure measure of GDP measures components not industries. Revisions to the expenditure measure of GDP were caused by the incorporation of new annual benchmarks, updated chaining weights, changes to methodology, and changes to source data. Chaining weights determine the relative weights of the component series in a chained series. For more information on chaining weights, please refer to ‘Constructing a chain-volume series’ in the Data quality section of this release.

The largest revisions to the expenditure measure of GDP were caused by the incorporation of National Accounts: Year ended March 2011, which introduced annual benchmarks and chaining weights for the year ended March 2011, updated annual benchmarks for previous years, and updated chaining weights for the year ended March 2010. The expenditure measure of GDP previously had annual benchmarks and chaining weights up to the year ended March 2010.

The main impact of this was a downwards level shift in the expenditure measure of GDP during 2010 and 2011. Expenditure on GDP shows weaker growth for eight of the past 10 quarters compared with what was previously published in Gross Domestic Product: December 2011 quarter. For the December 2011 quarter, the expenditure measure of GDP increased 0.3 percent, revised down from 0.5 percent.

Graph, Gross domestic expenditure, quarterly.

Incorporating annual benchmarks and updating chaining weights are the main reasons for the revisions to:

  • imports of goods and services
  • exports of goods and services
  • private non-profit institutions serving households
  • central government expenditure
  • local government expenditure
  • changes in inventories.

Imports of goods and services also has revisions to the constant price series, due to implementing the new compilation system.

There were additional changes to gross fixed capital formation and to household consumption expenditure – more detail for these components is outlined below. These changes have resulted in revisions to quarterly movements in the expenditure measure of GDP.

Ongoing refinements to methodology are being made for central government final consumption expenditure, and transfer costs within gross fixed capital formation. This may result in further revisions to central government final consumption expenditure, and residential building, non-residential building, other construction, and land improvements within gross fixed capital formation.

Gross fixed capital formation

Gross fixed capital formation (GFKF) measures investment in fixed assets by households, business, and government. GFKF consists of seven asset groups:

  • residential building
  • non-residential building
  • other construction
  • land improvements
  • transport equipment
  • plant, machinery, and equipment
  • intangibles.

Each of these asset groups is benchmarked to the annual national accounts. Incorporating new benchmarks from National Accounts: Year ended March 2011 has caused significant revisions to GFKF. These revisions mainly affect the level of GFKF, so there are only relatively small changes to quarterly movements. This information release also includes revisions to GFKF that result from: converting to ANZSIC06, improving methodologies, and including additional indicators to 'other construction'.

Some indicators used to compile GFKF are produced on an ANZSIC basis, including the Economic Survey of Manufacturing (ESM) and the Wholesale Trade Survey (WTS). GFKF is now calculated using the ANZSIC06-based indicator series. Before this release, indicators used in more recent quarters for the ESM and WTS were forward-cast ANZSIC96 series.

The 'other construction' asset group is measured using data obtained from direct enquiries. A review of these indicators led to including additional data from the September 2009 quarter onwards. The resulting revisions are small and have only a minor effect on quarterly movements. The large revisions to 'other construction' included in this release are mainly due to updated benchmarks.

Revisions to the chain-volume GFKF series are caused by a change in the methodology used to compile these series. Previously, the constant price series were converted to chain-volume measures at a more aggregated level than was used for this release. While this causes one-off revisions to the chain-volume GFKF back series, it produces a more robust volume series. For more information on chain volume measures see the Data quality section of this release.

During the seasonal adjustment review, a number of the GFKF asset groups were deemed to have a low seasonal pattern. This has resulted in these asset types no longer being seasonally adjusted. Previously, total GFKF used the indirect method of seasonal adjustment. As fewer of the underlying series used to compile GFKF are seasonally adjusted, the seasonal adjustment method used for total GFKF has changed from the indirect to the direct method. This change creates new seasonally adjusted series for GFKF, in both chain-volume and current price measures, which result in changes to the seasonally adjusted quarterly movements.

 Graph, Gross fixed capital formation, quarterly change.

Household final consumption expenditure

Household consumption expenditure (HCE) is hierarchically subdivided into commodity groups, according to a New Zealand-specific classification structure (NZSNA) that has many similarities to the Classification of Individual Consumption by Purpose (COICOP). In order to better conform to international practices, and better reflect the changing composition of household consumption over time, the new compilation system adopts an updated version of COICOP. 

With the transition from NZSNA to COICOP, nine published commodities have been reallocated to 12. These reallocations are sufficiently complex that commodities with similar textual names are no longer 1:1 equivalents. Three of the current commodity groups are decomposed into smaller sub-aggregates and there are inter-commodity reallocations.

COICOP 1993 COICOP 2008
Group Description Group Description
1    
Food and beverages (includes tobacco and illicit drugs)
1 Food and non-alcoholic beverages
2 Alcoholic beverages, tobacco, and illicit drugs
2 Clothing and footwear 3     Clothing and footwear   
3 Housing (includes housing utilities) 4 Housing, water, electricity, gas, and other fuels
4 Household goods and services 5 Furnishings, household equipment, and routine maintenance of the house
5 Health and medical goods and services 6 Health
6 Transport 7 Transport
7 Recreation and education 9 Recreation and culture
10 Education
8 Hotels and restaurants 11 Restaurants and hotels
9 Other goods and services 8 Communication
12 Miscellaneous goods and services

HCE includes spending by New Zealand households overseas and excludes spending by overseas visitors in New Zealand. Total services, non-durables, durables, and the commodity aggregates are now published post-treatment; before the change they were published pre-treatment. This significantly alters the seasonal pattern of the transport and the hotels and restaurants groups.

No major changes were made to data sources. The main data source in HCE is still the Retail Trade Survey, which is aggregated by storetype. With the transition from ANZSIC96 to ANZSIC06, the storetype classifications have changed and this has resulted in revisions. Also, the information for allocating storetypes between commodities has been updated.

The seasonal adjustment for total HCE on services, non-durables, and durables will continue to be direct. Both current and constant price total HCE will continue to be indirectly seasonally adjusted.

 Graph, Private consumption, quarterly change.

Detailed industry changes from ANZSIC96 to ANZSIC06

The table below outlines the changes from ANZSIC96 to ANZSIC06, by industry.

ANZSIC96  ANZSIC06  NZSIOC level one  Major changes    
A Agriculture, forestry, and fishing A Agriculture, forestry, and fishing AA Agriculture, forestry, and fishing No major changes.
B Mining B Mining BB Mining No major changes.
C Manufacturing C Manufacturing CC Manufacturing

Coming into ANZSIC06 division C:

  • convertors come into manufacturing from wholesale trade
  • units that manufacture and sell bread and bakery products at the same premises come in from retail trade.

Going out of ANZSIC06 division C:

  • printing and recorded media publishing goes to division J information media and telecommunications.
D Electricity, gas, and water D Electricity, gas, water, and waste services DD Electricity, gas, water, and waste services

Coming into ANZSIC06 division D

  • local government water supply, sewerage and drainage, and waste treatment and disposal services comes into this industry from government, administration, and defence
  • waste disposal services from personal and other services.
E Construction E Construction EE Construction No major changes.

F Wholesale trade

F Wholesale trade FF Wholesale trade

Coming into ANZSIC06 division F:

  • wholesaling of motorcycles, trailers, and caravans from retail trade
  • auctioning services from retail trade and property and business services.

Going out of ANZSIC06 division F:

  • convertors goes to manufacturing
  • units selling hardware and building supplies to the general public go to retail trade
  • motor-vehicle parts sold in retail premises go to retail trade.
G Retail trade G Retail trade GH Retail trade and accommodation

Coming into ANZSIC06 division G:

  • units selling hardware and building supplies to the general public from wholesale trade
  • motor-vehicle parts sold in retail premises from wholesale trade.

Going out of ANZSIC06 division G

  • automotive repair and maintenance, domestic appliance repair and maintenance to other services
  • units that manufacture and sell bread and bakery products to manufacturing
  • motor-vehicle testing to public administration and safety.

Also:

  • takeaways move from retail trade (ANZSIC06 division G) to accommodation and food services (ANZSIC06 division H).
H Accommodation, cafes, and restaurants H Accommodation and food services
I Transport and storage I Transport, postal, and warehousing II Transport, postal, and warehousing

Coming into ANZSIC06 division I:

  • postal and courier services from communication
  • scenic and sightseeing operations from cultural and recreational services.

Coming out of ANZSIC06 division I:

  • travel agency services to administration and support services.
J Communication services J Information media and telecommunications JJ Information media and telecommunications

Coming into ANZSIC06 division J:

  • print and recorded media publishing from manufacturing
  • motion picture, music, data processing, and web-hosting services from property and business services
  • sound recording studios from cultural and recreational services.

Coming out of ANZSIC06 division J:

  • postal and courier services goes to transport, postal, and warehousing.
K Finance and insurance K Financial and insurance services KK Financial and insurance services  No major changes.
L Property and business services
L Rental, hiring, and real estate services LL Rental, hiring, and real estate services

 Coming into ANZSIC06 division L:

  • video hire outlets, personal and household goods hiring from personal and other services
  • theatrical equipment hiring from cultural and recreational services.

Going out of ANZSIC06 division L:

  • land development and subdivision to construction
  • copyright leasing to information media and telecommunications
  • computer and office machine repair to other services.
M Professional, scientific, and technical services MN Professional, scientific, technical, administrative, and support services

Coming into ANZSIC06 division M and N:

  • veterinary services from health and community services
  • a range of government activities from government administration and defence, such as: scientific testing, legal and accounting services, statistical services, management consulting, advocacy, and dispute resolution
  • professional photographic services from personal and other services
  • travel agency service from transport and storage
  • gardening services from personal and other services
  • musical and theatre promotion, talent agency services, sports promotion, ticketing from cultural and recreational services
  • desktop publishing from manufacturing.

Going out of ANZSIC06 division M and N:

  • computer services such as data processing to information media and telecommunications
  • meat inspection and quarantine services to public administration and safety
  • image and document reproduction to manufacturing
  • auctioning services to wholesale trade
  • directory and mailing list publications to information media and telecommunications
  • security and investigative services to public administration and safety
  • industry training services to education and training.
N Administrative and support services
M Government administration and defence O Public administration and safety OO Public administration and safety

 Coming into ANZSIC06 division O:

  • private sector security and investigative services from property and business services
  • motor-vehicle testing and locksmith services from retail trade
  • meat inspection and quarantine services from property and business services.

Going out of ANZSIC06 division O:

  • local government water supply, sewerage and drainage, and waste treatment and disposal services to electricity, gas, water, and waste services
  • government scientific testing, legal and accounting services, statistical services, management consulting, advocacy, and dispute resolution services to professional, scientific, and technical services
  • education support services to education and training
  • central government parks and gardens to arts and recreation services.
N Education P Education and training PP Education and training

Coming into ANZSIC06 division P:

  • government education support services from government administration and defence
  • sports instruction and coaching from personal, cultural, and recreational services
  • flying school operation from transport and storage.
O Health and community services Q Health care and social assistance QQ Health care and social assistance

Coming into ANZSIC06 division Q:

  • central government family social assistance services from government administration and defence.

Going out of ANZSIC06 division Q:

  • veterinary services to professional, scientific, and technical services
  • hair restoration services to other services.
P Culture and recreational services R Arts and recreation services RS Arts, recreation, and other services

Coming into ANZSIC06 division R and S:

  • racing and lottery operations, and parks and gardens from government administration
  • horse-racing ownership and syndicates from property and business services
  • computer, electronic equipment, and machinery equipment repair and maintenance from manufacturing
  • clothing, footwear, and personal accessories repair from retail trade
  • installation of television antennae, cabling, and satellite dishes from retail trade
  • transport container repair or refurbishing from transport and storage
  • parking services from transport and storage.

Going out of ANZSIC06 division R and S:

  • sound recording studios, radio and television services, libraries, and archives to information media and telecommunications
  • scenic and sightseeing operations to transport, postal and warehousing
  • sports instruction and coaching to education and training
  • actors, entertainers, and musicians management to professional, scientific, and technical services
  • waste disposal services to electricity, gas, water, and waste services
  • gardening services to administration and support services
  • video hire outlets, personal and household goods hiring to rental, hiring, and leasing services
  • professional photographic services to professional, scientific, and technical services.

Other:

  • personal training moves from culture and recreational services (ANZSIC06 division R) to other services (ANZSIC06 division S).
Q Personal and other services S Other services

Seasonal adjustment methods

The table below summarises the type of seasonal adjustment for each industry:

Industry ANZSIC96 ANZSIC06
Agriculture, forestry, and fishing Direct Direct
Mining Direct Direct
Manufacturing Indirect Indirect
Electricity, gas, water, and waste services Indirect Indirect
Construction Indirect Indirect
Wholesale trade Direct Indirect
Retail trade and accommodation Indirect Indirect
Transport, postal, and warehousing Direct Direct
Information media and telecommunications Indirect Not adjusted
Finance and insurance services Not adjusted Not adjusted
Rental, hiring, and real estate services Not adjusted Not adjusted
Owner-occupied dwellings Indirect Not adjusted
Professional, scientific, technical, administrative, and support services Indirect Indirect
Central government administration, defence, and public safety Indirect Indirect
Local government administration Direct Direct
Arts, recreation, and other services Indirect Direct
Unallocated Indirect Indirect
Gross domestic product Direct Direct

Expenditure component Old series New series 
Current price  Chain-volume  Current price  Chain-volume 
Private final consumption expenditure Indirect Indirect  Indirect Indirect
Government final consumption expenditure Indirect Indirect Indirect Indirect
Central government Indirect Indirect Indirect Indirect
Local government Direct Direct Direct Direct
Changes in inventories Direct Direct Direct Direct
Gross fixed capital formation Indirect Indirect Direct Direct
Gross national expenditure Direct Direct Direct Direct
Exports of goods and services Indirect Direct Indirect Direct
Exports of goods Direct Direct Direct Direct
Exports of services Direct Direct Direct Direct
Imports of goods and services Indirect Direct Indirect Direct
Imports of goods Indirect Direct Indirect Direct
Imports of services Direct Direct Direct Direct
Expenditure on gross domestic product Direct Direct Direct Direct

For more detailed data see the 'Downloads' box.

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