5206.0 - Australian National Accounts: National Income, Expenditure and Product, Jun 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2003   
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TREND
SEASONALLY ADJUSTED


Quarterly % change
Mar 03 to
Jun 03
Annual % change
Jun 02 to
Jun 03
%points
contribution to
growth in GDP
Mar 03 to
Jun03
Quarterly % change
Mar 03 to
Jun 03
Annual % change
Jun 02 to
Jun 03
%points
contribution to
growth in GDP
Mar 03 to
Jun03

Final consumption expenditure
General government
0.4
3.1
0.1
1
3.5
0.2
Households
1
3.5
0.6
1.2
3.6
0.7
Gross fixed capital formation
Private
Dwellings
-1.1
6.9
-0.1
-4.1
4.1
-0.3
Business investment
2.7
13.8
0.3
1.8
11.3
0.2
Ownership transfer costs
-0.5
2
-
0.5
1.7
-
Public
1.5
7.7
0.1
8.1
8.3
0.3
Changes in inventories
Private non-farm
. .
. .
0.3
. .
. .
0.2
Farm and public authority
. .
. .
-
. .
. .
0.1
Gross national expenditure
1.4
5.8
1.4
1.4
5.6
1.5
Exports of goods and services
-1.5
-2.5
-0.3
-4.7
-4.8
-1.0
Imports of goods and services
2.5
12.1
-0.6
2.2
11.1
-0.5
Statistical discrepancy (E)
. .
. .
-0.1
. .
. .
0.2
Gross domestic product
0.3
1.9
0.3
0.1
2
0.1

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

JUNE QUARTER Summary Comments

Final Consumption Expenditure
  • Household consumption grew by 1.0% in trend terms (up 1.2% seasonally adjusted). Strong trend growth was recorded for purchase of motor vehicles, up 4.4% (up 5.8% seasonally adjusted), clothing and footwear, up 2.5% (up 2.3% seasonally adjusted) and furnishings and household equipment, up 1.8% (up 3.3% seasonally adjusted). Transport services declined by 3.0% (down 5.2% seasonally adjusted) due to a reduction in expenditure on airfares. Government consumption grew by 0.4% in trend terms (1.0% in seasonally adjusted terms).

Private gross fixed capital formation
  • Trend private GFCF rose by 1.2% (down 0.1% seasonally adjusted). Machinery and equipment rose 2.5% in trend terms (up 3.2% seasonally adjusted), mainly due to increased expenditure on new equipment by the manufacturing and transport industries. Other buildings and structures rose 2.4% this quarter (up 0.2% seasonally adjusted). A fall in dwelling investment partially offset this growth, down 1.1% in trend terms (down 4.1% seasonally adjusted).

Changes in inventories
  • Trend private non-farm inventories rose by $1186 million (up $1253 million seasonally adjusted) in the June quarter following a rise of $636 million in the March quarter (up $966 million seasonally adjusted). The June quarter build up was largely in wholesale trade inventories.

Exports of goods and services
  • Trend exports of goods and services fell 1.5% (down 4.7% seasonally adjusted). Seasonally adjusted, exports of goods fell 3.5% and exports of services fell 9.4%.

Imports of goods and services

  • Trend imports of goods and services rose 2.5% (up 2.2% seasonally adjusted). Seasonally adjusted, imports of goods rose 3.3% and imports of services fell 2.3%.