6 May 2022
Corrections to headline statistics (measured sector) affect only the year ended March 2021 and are listed below.
- Labour productivity rose 0.7 percent (previously 0.5 percent).
- Multifactor productivity rose 0.8 percent (previously 0.7 percent).
- Capital productivity rose 0.8 percent (previously 1.0 percent).
- Labour inputs fell 3.1 percent (previously fell 2.6 percent).
- Value added fell 2.4 percent (previously fell 2.2 percent).
- Capital deepening fell 0.1 percent (previously fell 0.6 percent).
Data for the year ended March 2021 remains provisional until the next publication of productivity statistics, in February 2023. The data was originally published in February 2022; revisions from then are derived from these three sources.
- We have corrected an error in the calculation of labour inputs, which affects all industries for the year ended March 2021. The resulting revisions have a flow-through effect on labour productivity, multifactor productivity, and capital deepening at both industry and measured sector levels.
- We have corrected an error in the calculation of capital inputs for non-market industries for the year ended March 2021. Capital inputs and capital deepening have been revised downwards and capital productivity and multifactor productivity have been revised upwards. This error affects the education and training, and health care and social assistance industries.
- We have also incorporated revisions to output (value added). These bring the data in line with revised production data published in Gross domestic product: December 2021 quarter. These revisions affect several industries over recent years, the most significant revision being the downwards revision to mining value added for the year ended March 2021. These revisions have a flow-through effect on all productivity indexes. We do not usually update productivity statistics to reflect interim revisions to GDP. However, it is appropriate that republished statistics reflect the latest available data that provides the most accurate measurement of output.
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