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5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 07/03/2007   
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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES


Trend
Seasonally adjusted


% change
Sep 06
to Dec 06
% change
Dec 05
to Dec 06
% points contribution
to growth in GDP
Sep 06 to Dec 06
% change
Sep 06
to Dec 06
% change
Dec 05
to Dec 06
% points contribution
to growth in GDP
Sep 06 to Dec 06

Final consumption expenditure
General government
0.5
3.8
0.1
-0.5
2.6
-0.1
Households
0.9
3.4
0.5
1.2
3.8
0.7
Gross fixed capital formation
Private
Dwellings
1.8
3.6
0.1
1.4
3.2
0.1
Business investment
-0.1
1.7
-
1.7
2.1
0.3
Ownership transfer costs
-5.8
-5.8
-0.1
-2.8
-3.3
-
Public
3.9
14.0
0.2
9.4
17.0
0.4
Changes in inventories
Private non-farm
. .
. .
0.1
. .
. .
0.6
Farm and public authority
. .
. .
-
. .
. .
0.1
Gross national expenditure
0.9
3.0
0.9
1.9
3.5
2.0
Exports of goods and services
0.7
4.5
0.1
0.8
4.1
0.1
Imports of goods and services
2.6
8.7
-0.6
6.3
9.7
-1.4
Statistical discrepancy (E)
. .
. .
0.1
. .
. .
0.3
Gross domestic product
0.6
2.4
0.6
1.0
2.8
1.0

. . not applicable
- nil or rounded to zero (including null cells)



DECEMBER QUARTER

Summary Comments

Final Consumption Expenditure

  • Household final consumption expenditure grew by 0.9% in trend terms (1.2% seasonally adjusted). The growth in seasonally adjusted terms is the highest since September quarter 2004 with the main contributors to growth being Other goods & services, Food, Transport and Recreation & culture.

Gross fixed capital formation
  • Private business investment fell by 0.1% in trend terms but rose 1.7% seasonally adjusted. The seasonally adjusted increase was due in most part to New engineering construction investment (up 9.6%). Dwelling investment increased by 1.8% in trend terms and 1.4% seasonally adjusted. The seasonally adjusted growth in dwellings was driven by a 2.8% increase in Alterations and additions. Alterations and additions have increased by 9.7% in the last three quarters.

Changes in inventories
  • Total inventories decreased by $253m in trend terms, which followed a decrease of $560m in the September quarter. In seasonally adjusted terms total inventories increased by $564m compared to a $1,003m fall in the September quarter. As a result, changes in inventories contributed 0.7 percentage points to seasonally adjusted GDP growth during the quarter.

Exports and imports of goods and services
  • In trend terms, Exports of goods and services increased 0.7% (0.8% seasonally adjusted). In seasonally adjusted terms Rural exports fell 5.7% while Non-rural exports rose 2.7%, driven by Other mineral fuels and Mineral ores.
  • Imports of goods and services increased by 2.6% in trend terms. The seasonally adjusted 6.3% growth was the result of a 9.8% increase in imports of Capital goods and a 6.1% increase in imports of Consumption goods.

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