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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES

			Trend			Seasonally adjusted
			% change Dec 11 to Mar 12	% change Mar 11 to Mar 12	% points contributions to growth in GDP Dec 11 to Mar 12	% change Dec 11 to Mar 12	% change Mar 11 to Mar 12	% points contributions to growth in GDP Dec 11 to Mar 12
Final consumption expenditure
	General government		0.3	0.9	-	0.6	1.2	0.1
	Households		1.0	3.9	0.6	1.6	4.2	0.9
Gross fixed capital formation
	Private
		Dwellings	-2.1	-5.1	-0.1	-2.1	-6.2	-0.1
		Ownership transfer costs	1.1	3.6	-	0.7	2.5	-
		Non-dwelling construction	8.1	42.5	0.7	12.6	39.9	1.0
		Machinery and equipment	-	8.8	-	-0.8	7.5	-0.1
		Cultivated biological resources	0.9	18.1	-	1.1	19.8	-
		Intellectual property products	0.7	5.1	-	-0.6	4.2	-
	Public		-0.5	-7.9	-	0.5	-6.0	-
Changes in inventories			na	na	-	na	na	-0.1
Gross national expenditure			1.1	5.1	1.2	1.7	5.5	1.7
Exports of goods and services			0.7	4.8	0.1	-1.3	6.3	-0.2
Imports of goods and services			1.8	11.8	-0.4	1.2	11.5	-0.3
Statistical discrepancy (E)			na	na	-	na	na	0.1
Gross domestic product			0.9	3.6	0.9	1.3	4.3	1.3
- nil or rounded to zero (including null cells)
na not available

• Household final consumption expenditure increased 1.6% in seasonally adjusted terms. The main contributors to growth in Household final consumption were Food (0.4 percentage points), Transport services (0.2 percentage points), Recreation and culture (0.2 percentage points) and Insurance and other financial services (0.2 percentage points). Government final consumption expenditure increased 0.6% in seasonally adjusted terms.

• Gross fixed capital formation increased 2.9% in seasonally adjusted terms. Total private gross fixed capital formation increased 3.5%, reflecting a rise in Total non-dwelling construction (up 12.6%). This was offset by falls in Total dwellings (down 2.1%) and Total machinery and equipment (down 0.8%). Public gross fixed capital formation increased 0.5%.

• Total inventories increased $1 431m in seasonally adjusted terms compared with an increase of $1 845m last quarter. The Change in inventories detracted 0.1 percentage points from GDP growth during the quarter.

• Exports of goods and services decreased 1.3% in seasonally adjusted terms. Seasonally adjusted Exports of goods fell 1.4%, with Rural exports the main contributor, down 2.8%. Non-rural exports were up 0.5%.
• Imports of goods and services increased 1.2% in seasonally adjusted terms. Seasonally adjusted Imports of goods fell 0.2%, with Intermediate consumption goods imports being the main driver (down 2.2%).