Australian Bureau of Statistics

Rate this page
ABS Home > Statistics > By Release Date
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 01/06/2011   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product
1 June 2011
Embargo: 11.30 am (Canberra Time)

Australian economy contracts 1.2%

Latest ABS figures show that GDP, in seasonally adjusted volume terms, declined 1.2% in the March quarter 2011. This is the largest quarterly fall in GDP since the March quarter 1991.

Flooding which began in late December 2010 combined with cyclones in both Queensland and Western Australian have had a significant impact on the March quarter activity. Despite the fall in GDP volumes there was an increase of 0.3% in Real gross national income driven by an increase of 5.8% in the Terms of trade on the back of stronger commodity prices.

The main detractors to expenditure on GDP were Net exports (-2.4 percentage points) and Inventories (-0.5 percentage points). Private gross fixed capital formation (0.7 percentage points) was the largest positive contributor.

From an industry perspective the main detractor to GDP was Mining (down 6.1%) with a 0.6 percentage points detraction, while Manufacturing (down 2.4%) and Agriculture (down 8.9%) both detracted 0.2 points from GDP.

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.

Bookmark and Share. Opens in a new window

Commonwealth of Australia 2016

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.