Australian GDP increases by 1.2% in Q2

In trend terms, GDP increased by 1.2% in the quarter and Non-farm GDP rose by 1.4%. GDP per hour worked in the market sector rose by 1.2% and the Household saving ratio was 0.1.

In seasonally adjusted terms, GDP increased by 0.9% in the June quarter. Non-farm GDP increased by 1.2%. The terms of trade decreased slightly by 0.1%, the first fall since December quarter 2001. Real gross domestic income rose 0.9%.

In seasonally adjusted terms, the main contributors to the increase in expenditure on GDP were Private business investment (0.7 percentage points), Public gross fixed capital formation (0.6 percentage points) and Household final consumption expenditure (0.3 percentage points). The largest negative contributions came from Changes in Private non-farm inventories (-0.5 percentage points) and Imports of goods and services (-0.3 percentage points).

In seasonally adjusted terms, Property and business services (0.3 percentage points) and Finance and insurance (0.2 percentage points) were the largest contributors to GDP growth. Agriculture, forestry and fishing detracted 0.2 percentage points from GDP growth.

Australain Bureau of Statistics
9/5/2007 6:03:32 AM