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5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2003   
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Trend
Seasonally adjusted
Quarterly
% change
Jun 03 to
Sep 03
Annual
% change
Sep 02 to
Sep 03
% points
contribution to
growth in GDP
Jun 03 to
Sep03
Quarterly
% change
Jun 03 to
Sep 03
Annual
% change
Sep 02 to
Sep 03
% points
contribution to
growth in GDP
Jun 03 to
Sep03
Final consumption expenditure
General Government
0.5
2.9
0.1
0.9
3.7
0.2
Households
1.3
4.2
0.8
1.7
4.4
1
Gross fixed capital formation
Private
Dwellings
0.1
3.4
-
2.6
5.3
0.2
Business investment
1.8
11
0.2
2.1
10.8
0.3
Ownership transfer costs
0.6
1.9
-
4.3
6.7
0.1
Public
-3.3
0.5
-0.1
-10.6
-1.4
-0.4
Changes in inventories
Private non-farm. .. .
0.4
. .. .
0.1
Farm and public authority. .. .-. .. .-
Gross national expenditure
1.3
6.1
1.4
1.3
6.4
1.4
Exports of goods and services
-1.3
-4.6
-0.3
1.5
-3.3
0.3
Imports of goods and services
2.1
10.9
-0.5
3.1
12.6
-0.8
Statistical discrepancy (E). .. .
0.2
. .. .
0.3
Gross domestic product
0.7
2.5
0.7
1.2
2.6
1.2
- nil or rounded to zero (including null cells)
. . not applicable

SEPTEMBER QUARTER Summary Comments

Final Consumption Expenditure
  • Trend household consumption rose by 1.3% (up 1.7% seasonally adjusted). The strongest trend growth rates were recorded for purchase of vehicles, up 3.7% (up 2.5% seasonally adjusted); recreation and culture, up 2.1% (up 3.9% seasonally adjusted) and furnishings and household equipment, up 2.1% (up 3.1% seasonally adjusted). Government consumption grew by 0.5% in trend terms (up 0.9% seasonally adjusted), with state and local government being the major contributor.

Private gross fixed capital formation
  • Trend private GFCF rose by 1.2% (up 2.5% seasonally adjusted). Machinery and equipment rose 2.6% in trend terms (up 6.5% seasonally adjusted) while non-dwelling construction fell 1.0% (down 8.5% seasonally adjusted), largely due to new engineering construction falling 1.2% (down 7.2% seasonally adjusted). Dwellings investment rose 0.1% in trend terms (up 2.6% seasonally adjusted).

Changes in inventories
  • Trend private non-farm inventories rose by $2477 million (up $2123 million seasonally adjusted) in the September quarter following a rise of $1686 million in the June quarter (up $1908 million seasonally adjusted). The September quarter build up is largely in wholesale trade inventories.

Exports of goods and services
  • Trend exports of goods and services fell by 1.3% (up 1.5% seasonally adjusted). In seasonally adjusted terms, exports of goods fell 0.3% and exports of services rose 9.2% following a fall in international travel in June quarter due to the impact of SARS.

Imports of goods and services
  • Trend imports of goods and services rose by 2.1% (up 3.1% in seasonally adjusted terms). In seasonally adjusted terms, imports of goods rose 1.3% and imports of services rose 11.5% reflecting strong growth in international travel (up 20.3%).

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