Current Account

The Economics blog

Australia finds AU$325bn down the back of the sofa

Equivalent to almost £10,000 per person.

By Alex Hern Published 02 October 2012 10:45

Australia is doing significantly better than it thought, it turns out, after the official statistics agency released a revision to a report on aggregate household assets which included a huge upward revision to estimates for equity holdings - stocks and shares.

AU$325bn was added to the cumulative share assets of Australian households, a revision worth almost £10,000 per household, and it raised the total from AU$2.77trn to $3.1trn.

Reuters' Wayne Cole reports:

"This issue incorporates new estimates for households holding of unlisted shares and other equity in other private non financial corporations," the statistician drily noted.

The value of such equity is now put at A$383 billion at the end of March, compared to the original A$91 billion.

It's not quite as bad as the Sunday Times declaring that there are just 100 cod in the North Sea (the actual figure is closer to 500 million), but nonetheless, the revision by the Australian Bureau of Statistics must rank as one of the largest by an official statistics agency ever. It certainly puts the ONS' revision of last quarter's change in GDP - which they initially estimated to be a 0.7 per cent contraction, and later revised upwards to "just" 0.4 per cent contraction - in context.

More from Alex Hern

View the discussion thread.

2 comments

Wed, 2012-10-03 10:34 — wjtafyrdsj (not verified)

taffeta dresses the only thing that should come as a surprise is when you actually ask her to marry you

Cutting Cake Costs: The cake is normally a huge one for a wedding and bakers tend to charge more because it is a wedding cake. To cut down on costs but to still have a three tiered or five tier cake, get a family member or friend to bake the cake for you. You can decide on the decoration of it as well and also help.

Themed weddings are all the rage these days, so it only makes sense that you'd stay in line with the concept and choose themed wedding invitations to match. Finding the right themed wedding invitations can be fun and easy. Just match the color of your invitations to the theme with custom mix and match wedding invitations, or read on for great themed wedding invitation ideas!.

How much you need and what is going to cost what " should be very clear in your mind. When you are searching for wedding loans online " this is a good source for wedding loans " take your time. It is rather easy to find wedding loans online with great interest rates.

Hair appears to be great and you might have taken real initiatives to take a look wonderful, but imagine if ones dress is unappealing and the costume you might be sporting is definitely worn with the gal that you simply loathe? In order to avoid of which, all you want accomplish is definitely shop anywhere else. Everyone go to the typical stores and many others inside city before the promenade night time. The costume nevertheless, could be different and more beautiful.

While giving the order for your beach wedding dress make sure to ask about the expected delivery time. Make sure that your wedding attire is handover to you few days well in advance. This will give you enough time for trial and making some alterations if required.

The Bat'leth (Sword of Honour)On the Klingon home world of Kronos, competitions are staged regularly in which young warriors can display their prowess with the bat'leth (also sometimes spelled bat'telh). This double-handed weapon is the ultimate in Klingon hand weapons, but can take a lifetime to learn to use properly. Forged in a single piece, it has three hand-grips behind a long arc-like metal blade that curves to vicious pointed blades at each end.

Start looking early. Try not wait until the last minute to start looking for your wedding invitations. It can take a few weeks or even months to have your wedding invitations shipped to you. I mean, that colour does not complement my skin. I looked like a very ripe green pea, about to burst anytime. I was a depressed baby.