RDP 2012-02: The Role of Credit Supply in the Australian Economy Appendix A: Data Sources and Definitions

David Jacobs and Vanessa Rayner

May 2012 – ISSN 1320-7229 (Print), ISSN 1448-5109 (Online)

Table A1: Data Sources and Definitions
Series Sources Definition
Output
G7 GDP IMF; RBA; Thomson Reuters G7 gross domestic product, chain volume, seasonally adjusted (sa)
Major trading partner GDP CEIC; IMF; RBA; Thomson Reuters Major trading partner gross domestic product (merchandise export-weighted), chain volume, sa
US GDP Thomson Reuters US gross domestic product, chain volume, sa
Australian GDP ABS Australian gross domestic product, chain volume, sa
Australian GNE ABS Australian gross national expenditure, chain volume, sa
Prices
Australian headline inflation ABS CPI inflation, all groups excluding interest and tax changes
Australian trimmed mean inflation ABS CPI inflation, trimmed mean
Terms of trade ABS Ratio of Australia's export prices to import prices
Index of commodity prices RBA; Thomson Reuters RBA Index of Commodity Prices, all items in US$, deflated by US GDP deflator
Exchange rates
Real trade-weighted exchange rate ABS; RBA; Thomson Reuters Australia's real trade-weighted exchange rate
Interest rates
Real foreign interest rate Global Financial Data; IMF; RBA; Thomson Reuters Weighted average of real policy interest rates for Germany/euro area, Japan, UK and US
Cash rate RBA Cash rate, quarterly average
90-day bill rate AFMA 90-day bank accepted bill rate
Large business lending rate APRA Large business weighted-average variable interest rate on outstanding credit
Small business lending rate RBA Standard variable interest rate on residentially-secured small business term loans
Mortgage lending rate RBA Standard variable housing interest rate for banks
Credit
Real business credit ABS; RBA Business credit (including securitisations), sa, divided by Australian domestic demand deflator
Real household credit ABS; RBA Household credit (investor housing, owner-occupier housing and other personal credit, including securitisations), sa, divided by Australian domestic demand deflator
Surveys
Difficulty obtaining finance ACCI-Westpac Net balance of firms reporting greater difficulty obtaining finance relative to the previous quarter
Business confidence ACCI-Westpac Net balance of firms expecting an improvement in their general business situation over the next six months
Senior Loan Officer Survey – Bank of Canada Thomson Reuters Net percentage of lenders reporting a tightening in overall lending conditions over the past three months
Credit Conditions Survey Bank of England Net balance of lenders reporting an improvement in the availability of credit for corporates over the past three months
Euro Area Bank Lending Survey Thomson Reuters Net balance of banks reporting a tightening in credit standards for non-financial corporations over the past three months
NFIB Small Business Survey Thomson Reuters Net percentage of firms finding credit more difficult to obtain compared to three months ago
Senior Loan Officer Opinion Survey on Bank Lending Practices – Federal Reserve Thomson Reuters Net percentage of lenders reporting a tightening in standards for commercial and industrial loans (for large and medium-size enterprises) over the past three months
Net worth
Net worth ABS; ASX; RBA ASX total market capitalisation of domestic companies, convertible notes, options and preference shares (excluding warrants) divided by business credit
Office property prices Jones Lang LaSalle National CBD prime office capital values