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Gross Domestic Product: March 2013 quarter
Embargoed until 10:45am  –  20 June 2013
Revisions

Chain-linking

Revisions were made because a new complete March year of data was used for calculating chain-volume measures. These revisions affect all industries in the production measure of GDP and all components of the expenditure measure of GDP. They are particularly noticeable in the chain-volume measures of exports and imports.

Financial intermediation services indirectly measured

Updated input data for financial intermediation services indirectly measured (FISIM) resulted in revisions to financial and insurance services in the production measure of GDP, and household consumption expenditure, private non-profit final consumption expenditure, central and local government final consumption expenditure, and exports and imports of services in the expenditure measure of GDP.

Revisions to GDP

  • Agriculture was revised due to the incorporation of new benchmarks from Agricultural Production Statistics: June 2012 (final).
  • Manufacturing was revised due to updated Economic Survey of Manufacturing data, and a correction in the chain-linking for the industry.
  • Wholesale trade was revised due to updated Wholesale Trade Survey data.
  • Accommodation services revised due to updated Retail Trade Survey data.
  • Healthcare and social assistance was revised due to a correction to the calculation of the industry
  • Agriculture, forestry, and fishing; mining; construction; electricity, gas, water, and waste services; information media and telecommunications; financial and insurance services; and rental, hiring, and real estate services were revised due to updated input data.

Revisions to expenditure on GDP

  • Household consumption expenditure was revised due to updated input data.
  • Private non-profit final consumption expenditure revised due to a methodology correction.
  • Gross fixed capital formation revised due to updated input data for other construction and transfer costs.
  • Inventories revised due to the incorporation of new benchmarks from Agricultural Production Statistics: June 2012 (final), updated forestry input data, updated data from the Economic Survey of Manufacturing, and updated data from the Wholesale Trade Survey.
  • Exports and imports of goods and services were revised due to updated Overseas Trade and Balance of Payments data.

The following table shows the previously published and revised quarterly movements for GDP and expenditure on GDP. 

Quarter Gross domestic product – percent change from previous quarter Expenditure on gross domestic product – percent change from previous quarter

 

 Previously published

Revised

Previously published 

Revised 

June 2007

0.8

0.8

1.7

 1.7

September 2007

0.7

0.6

0.7

 0.7

December 2007

0.1

0.1

0.4

 0.4

March 2008

-0.4

-0.4

-0.4

 -0.4

June 2008

-1.1

-1.0

-1.7

 -1.7

September 2008

-0.2

-0.2

-0.2

 -0.2

December 2008

 -0.6

-0.6

-0.1

 -0.1

March 2009

-1.1

-1.1

-0.3

 -0.3

June 2009

-0.4

-0.3

1.0

 1.0

September 2009

0.6

0.6

0.6

 0.6

December 2009

1.6

1.6

0.5

0.5

March 2010

0.1

0.1

0.5

 0.5

June 2010

0.7

0.8

0.1

 0.1

September 2010 

-0.3

-0.2

-1.3

 -1.3

December 2010 

-0.4

-0.4

0.2

 0.2

March 2011 

0.7

0.7

0.7

 0.7

June 2011 

0.5

0.6

0.7

 0.7

September 2011

0.8

0.8

1.0

 1.0

December 2011

0.4

0.3

0.5

0.4

March 2012     

 1.0

1.1

1.0

 1.0

June 2012

 0.2

 0.3

 0.4

 0.6

September 2012 

 0.2

 0.3

 0.5

 0.7

December 2012

 1.5

1.5 

 1.4

1.3 

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