Australia's GDP Grows 1% in Q3

In seasonally adjusted terms, Australia's GDP increased 1.0% in the September quarter, through the year GDP growth was 2.5%.

On the expenditure side, the increase this quarter (in seasonally adjusted volume terms) was driven by Private gross fixed capital formation (adding 2.1 percentage points) and Household final consumption expenditure (adding 0.7 percentage points). Partially offsetting these rises were Changes in Inventories (detracting 0.8 percentage points), Net exports (detracting 0.6 percentage points) and Public gross fixed capital formation (detracting 0.4 percentage points).

During the September quarter, seasonally adjusted Real net national disposable income increased 1.9%. Growth over the past 4 quarters was 6.0% compared with 2.5% for GDP.

Net exports detracted 0.6 percentage points from GDP growth in the September quarter 2011 compared with -0.3 percentage points in the June quarter 2011.

The Household saving ratio was 10.1% in seasonally adjusted terms in the September quarter 2011. The trend estimate for Household saving was 9.9% in the quarter.

Australia, Australian Bureau of Statistics
12/7/2011 12:11:25 PM