Business Financial Data Collection

Series

Title

Business Financial Data Collection

en-NZ
Rights

Stats NZ

en-NZ
Abstract

Business Financial Data Collection is a new quarterly collection of business financial data, covering most of New Zealand’s economy. It provides indicators of sales, purchases, salaries and wages, and operating profit.

en-NZ
Purpose

It provides indicators of sales, purchases, salaries and wages, and operating profit. This data feeds into the current quarterly measures of Gross Domestic Product (GDP), and will be used to assist in producing a new quarterly income measure of GDP (GDPI).

en-NZ
Main users of the data

National Accounts (Quarterly GDP), economic analysts and forecasters.

Usage and limitations of the data

A number of industries are not included within the scope of the Business Financial Data Collection. These are industries where the National Accounts use a different indicator (eg Agriculture), industries where sales and purchases are not a significant part of operating surplus (eg Financial and Insurance Services), and industries that are entirely dominated by government sector units (eg Local Government Administration). The Retail Trade and Accommodation industries are collected as part of the Business Financial Data Collection, with data beginning from the September 2017 quarter.

Revisions in the business financial data release can occur when new or updated information is received from businesses. Revisions can also occur when modelled and imputed data is reviewed against financial accounts when they become available. When these occur, revisions to business financial data is generally considered for the previous several quarters. In quarters where revisions occur they are noted in the information releases and downloads.

en-NZ
Significant events impacting this study series

2023 – In the September 2023 quarter, we updated the data sources for several economically significant business and backdated the changes to the beginning of the series publication. These caused relatively significant changes to the Electrical, waste and water services industry and the Transport, postal and warehousing industry for all their financial indicators published in the business financial data collection. This new methodology improves the quality of the data in these industries and better represents the level of financial activity in the given quarter.


In the March 2023 quarter, in late January and mid-February 2023, Aotearoa New Zealand was affected by tropical cyclones Hale and Gabrielle. The adverse weather and resulting flooding caused loss of life, significant damage, and disruption, particularly across the East Coast and upper North Island. Some activity of businesses in affected regions was impacted by the cyclones, and we're confident that given collection and quality assurance practices the statistics are fit for purpose. In addition, in the March 2023 quarter there was an update to the linking methodology between PAYE tax records and the businesses in the Stats NZ Business Register. This caused an minor improvement in the measure of salaries and wages paid and derived operating profit in the business financial data collection.


2022 – In the June 2022 quarter, petroleum refining activity ended in New Zealand. This caused level shifts in both manufacturing and wholesale trade sub-industries and totals due to classification changes. See Business financial data: June 2022 quarter for more information.


2020 – In December 2020, we published the first official release of the Business Financial Data collection. See the Business financial data: September 2020 quarter for the first publication. This used updated methodology from the previously experimental business data collection.


In September 2020, we published the experimental initiative, business data collection. This expanded on the existing surveys and collections (Manufacturing, Wholesale trade, Retail trade, and Selected services) to cover most market industries in the New Zealand economy. See Business data collection for more information.


2017 – In the September 2017 quarter, the retail trade survey was redesigned, and it started to capture more information for the business financial data collection. See Retail Trade Survey Quarterly – Current for more information on the design and collection activities specific to the retail trade industry.


2016 – In the June 2016 quarter, the business financial data collection was expanded to cover most market industries in the New Zealand economy.


The quarterly manufacturing survey was redesigned, and it started to capture more information for the business financial data collection. See Economic Survey of Manufacturing - Stats NZ DataInfo+ for more information on the design and collection activities specific to the manufacturing industry.


The wholesale trade survey was redesigned, and it started to capture more information for the business financial data collection. See Wholesale Trade Survey - Stats NZ DataInfo+ for more information on the design and collection activities specific to the wholesale trade industry.

en-NZ
Frequency

Quarterly

Studies

Coverage

Date
June2016 -

Extra Metadata

Appears Within

No references.

Information

History

View Full History
Revision Date Responsibility Rationale
61 7/03/2024 11:00:55 AM
60 7/03/2024 10:47:55 AM
49 8/12/2023 10:48:23 AM
47 8/12/2023 10:48:23 AM
39 7/09/2023 10:47:33 AM
36 27/06/2023 1:55:13 PM
35 22/06/2023 5:17:23 PM
32 19/06/2023 5:23:12 PM
31 8/06/2023 10:54:12 AM
25 10/03/2023 10:47:48 AM
19 9/12/2022 10:47:09 AM
17 8/09/2022 10:46:17 AM
13 9/03/2022 10:46:27 AM
12 30/11/2021 3:58:17 PM