Productivity Measures Statistics

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Abstract

Productivity is a measure of how efficiently inputs (capital and labour) are used within the economy to produce outputs. Productivity is commonly defined as a ratio of a volume measure of output to a volume measure of input. Growth in productivity means that a nation for example can produce more output from the same amount of input, or the same level of output from fewer inputs. Productivity growth is an important contributing factor to a nation’s long-term material standard of living.

Purpose

Productivity analysis aims to explain the drivers of output growth. Output growth can be attributed to either an increase in labour or capital input, more efficient utilisation of inputs, or a combination of both. Productivity measures can be either single factor (that is, relating a measure of output to a single measure of input), or multifactor (that is, relating a measure of output to total inputs). Labour and capital productivity are single (or partial) factor productivity measures; they show productivity growth in terms of that particular input. Multifactor productivity (MFP) takes into account substitution between labour and capital inputs, and is therefore not directly affected by a change in the mix of inputs. Productivity measures cover a subset of the economy referred to as the ‘measured sector’. Further detail can be found in the section 'Industry coverage – the measured sector'. Series for output, labour inputs, and capital inputs are used for deriving partial productivity estimates. The two primary inputs (labour and capital) are combined to form a composite input index, which then allows for the residual calculation of MFP. A change in MFP reflects the change in output that cannot be accounted for by changes in the measures of labour and capital inputs.

Citation Information

Title

Productivity Measures Statistics

Publisher

Statistics New Zealand

Rights

Statistics New Zealand

Coverage Information

Temporal Coverage

  • 1978 to 2015

Topical Coverage

  • Macroeconomic statistics
  • Economic accounts
  • Prices

Other

Significant events impacting this study series

History of the Producers Price Index

1920 The Wholesale Price Index (WPI) was made available.

1958 The WPI was rebased.

October 1959 The rebased WPI was published in the October 1959 Monthly Abstract of Statistics.

January 1975 The Inter-Departmental Committee on Statistical Needs and Priorities recommended rebasing of the WPI.

May 1975 The outline of an index structure to replace the WPI was established.

July 1975 The "Price Index Number Research and Development Section" was formed and commenced work on the index that would become the PPI.

September 1976 The quarterly postal survey of commodity prices commenced.

July 1978 The PPI was first published under the name of the General Price Index, indexes being for the base quarter of December 1977 and the following March 1978 quarter. Some indexes for example, Construction outputs and Financing & Insurance outputs were not completed at this time. Initially, all calculations were done manually.

November 1979 The September 1979 quarter PPI release was the first calculated by the computerised Generalised Index System (GIS).

November 1980 Output indexes were published for the Construction and Financing & Insurance groups.

August 1981 The index name was changed from General Price Index to Producers Price Index.

1982/83 During the first year of the PPI progressive rebase cycle, the indexes for Agriculture, Mining & Quarrying, Electricity, Gas and Water; Wholesale & Retail Trade, Accommodation & Cafes etc., and Transport & Storage were revised. Sub-group indexes for some of these five revised groups were also produced. The expression base for all PPI indexes was updated from the December 1977 quarter to the December 1982 quarter. The All-Groups weights were revised.

1983/84 The second phase of the rebase was completed - 5 industry production group indexes were rebased, Fishing & Hunting; Forestry & Logging; and Personal & Community Services (inputs and outputs); and Local Government Services; and Private Non-profit Services to Households (inputs).

1984/85 The third phase of the rebase was completed - indexes for the nine manufacturing industry production groups and for Owner-Occupied Dwellings were rebased, as were the weights used in the calculation of the various All Groups Indexes. A number of adhoc indexes were also constructed.

1985/86 The fourth phase of the rebase was completed - indexes for Communication Services; Finance; Insurance; Property & Business Services; and Central Government Services inputs were rebased.

1986/87 The fifth phase of the rebase was completed - the input index for Construction was rebased. The treatment of GST was determined and applied.

1987/88 The sixth phase of the rebase was completed - the output index for Construction, was rebased.

1989/90 The second PPI rebase cycle commenced with the rebase of the index for Fishing & Hunting.

1992 Rebased indexes completed for the Agriculture Inputs index, Transport and Storage index.

1995 Decision made to rebase the entire Producers Price Index.

March 1996 Industrial classification for the PPI changed from NZSIC to ANZSIC. First rebased index (Agriculture) completed.

September 1996 Rebased indexes completed for Forestry & Logging; Fishing & Hunting; and Trade, Restaurants & Hotels.

December 1996 Rebased indexes completed for Mining & Quarrying; Electricity, Gas & Water; and Financing & Insurance.

March 1997 The rebased index for Paper, Printing & Publishing completed.

June 1997 The rebased index for Food, Beverages & Tobacco completed.

September 1997 The rebased indexes for Chemicals, Petroleum & Plastics; Construction; and Communications completed.

December 1997 The rebased indexes for Textiles, Apparel & Leather; Wood & Wood Products; Non-metallic Mineral Products; Basic Metals; Machinery & Metal Products; Other Manufacturing; Transport & Storage; & Ownership of Dwellings completed.

March 1998 The All Industry Groups rebase completed.

June 1998 The PPI Redevelopment release is published.

August 1998 The June quarter's PPI release is the first with the new published ANZSIC index structure. The PPI tables are rebased to the December 1997 quarter. Commodity Price indexes are introduced.

Frequency

4) Annual

Main users of the data

Revision Information

Currently viewing revision 37 by on 12/05/2016 2:38:32 a.m.

Revision 37 *
20/09/2016 10:03:03 p.m.

Identifiers

DDI Agency
nz.govt.stats
DDI Id
d2d0ded2-dc45-4033-9b5b-3807c2b4edab
DDI Version
37

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