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5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 06/06/2007   
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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES


Trend
Seasonally adjusted


% change
Dec 06
to Mar 07
% change
Mar 06
to Mar 07
% points contribution
to growth in GDP
Dec 06 to Mar 07
% change
Dec 06
to Mar 07
% change
Mar 06
to Mar 07
% points contribution
to growth in GDP
Dec 06 to Mar 07

Final consumption expenditure
General government
0.1
2.7
-
0.8
3.5
0.1
Households
1.2
4.2
0.7
1.5
4.2
0.9
Gross fixed capital formation
Private
Dwellings
1.5
7.1
0.1
1.5
9.5
0.1
Business investment
np
np
np
7.6
7.3
1.2
Ownership transfer costs
-1.0
-6.6
-
6.5
-3.0
0.1
Public
np
np
np
-16.9
-2.0
-0.8
Changes in inventories
Private non-farm
. .
. .
0.5
. .
. .
0.6
Farm and public authority
. .
. .
-
. .
. .
-0.1
Gross national expenditure
1.6
4.7
1.6
2.0
5.1
2.1
Exports of goods and services
0.8
4.1
0.2
1.4
4.7
0.3
Imports of goods and services
3.2
10.8
-0.7
2.2
11.3
-0.5
Statistical discrepancy (E)
. .
. .
0.1
. .
. .
-0.2
Gross domestic product
1.1
3.5
1.1
1.6
3.8
1.6

. . not applicable
- nil or rounded to zero (including null cells)
np not available for publication but included in totals where applicable, unless otherwise indicated



MARCH QUARTER

Summary Comments

Final Consumption Expenditure

  • Household final consumption expenditure grew by 1.2% in trend terms (1.5% seasonally adjusted). The growth in seasonally adjusted terms is the highest since September quarter 2004 with the main contributors to growth being Rent and other dwelling services and Food.

Gross fixed capital formation
  • Private business investment increased 7.6% in seasonally adjusted terms. The seasonally adjusted increase was due in most part to New engineering construction investment (up 14.4%). This series is impacted by the privatisation of Telstra. Dwelling investment increased by 1.5% seasonally adjusted driven by a 4.7% in New and used dwellings offsetting a 2.0% fall in Alterations and additions.

Changes in inventories
  • Total inventories increased by $1,655m in trend terms, which followed an increase of $437m in the December quarter. In seasonally adjusted terms, total inventories increased by $1,883m following a $631m increase in the previous quarter. As a result, Changes in inventories contributed 0.5 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 0.8% (1.4% seasonally adjusted). In seasonally adjusted terms, Non-rural export goods rose 3.3% and Exports of services increased 2.0% offsetting falls in Rural exports.
  • Imports of goods and services increased by 3.2% in trend terms (seasonally adjusted 2.2%). Seasonally adjusted Import of goods increased by 2.9%, driven by growth in most components while Imports of services fell -0.7% driven by a fall in Transportation services.

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