5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2014 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/06/2014   
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MEDIA RELEASE
68/2014
4 June 2014
Embargo: 11.30 am (Canberra time)
Australian economy grows 1.1 per cent

Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted volume terms, grew 1.1 per cent in the March quarter 2014.

Growth for the quarter was driven by a 1.4 percentage point contribution from Net Exports and a 0.3 percentage point contribution from Final consumption expenditure. These increases were partially offset by a -0.6 percentage point contribution from Changes in inventories.

The Mining industry contributed 0.9 percentage points to GDP growth.

The March quarter saw the Terms of trade decrease -1.2 per cent.

Further details can be found in Australian National Accounts: National Income, Expenditure and Product, (cat no. 5206.0)

Media Note:

When reporting ABS data, the Australian Bureau of Statistics (or ABS) must be attributed as the source.