Australia Economy Expands 0.6 Percent in Q4

In seasonally adjusted terms, GDP increased by 0.6 percent in the December of 2012 quarter. The Terms of trade fell 2.7 percent, and real gross domestic income was flat in the December quarter.

Growth for the quarter was driven by a 1.1 percent contribution from public investment, and a 0.6 percent contribution from net exports. These increases were partially offset by a -1.0 percent contribution from private investment and a -0.4 percent contribution from changes in inventories.

The industries that drove growth in the December quarter were Mining, Manufacturing, Health and Finance, with each industry contributing 0.1 per cent to the increase in GDP.
Compared to the same quarter from a year earlier, GDP increased 3.1 percent in the December of 2012 quarter. Gross value added per hour worked in the market sector increased 0.5 percent and the Terms of trade fell 2.9 percent. Through the year GDP growth was 3.1 percent.

ABS | Nuno Fontes |
3/6/2013 8:46:16 AM