5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2015 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/06/2015   
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MEDIA RELEASE
66/2015
3 June 2015
Embargo: 11.30 am (Canberra time)
Australian economy grows 0.9 per cent

Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted chain volume terms, grew 0.9 per cent in the March quarter 2015.

Net exports contributed 0.5 percentage points to GDP growth. Household final consumption expenditure and Changes in inventories each contributed 0.3 percentage points to GDP growth. This was offset by a -0.3 percentage point contribution from Gross fixed capital formation.

The industries which drove GDP growth in the March quarter were Mining and Financial and insurance services. Mining contributed 0.3 percentage points and Financial and insurance services contributed 0.2 percentage points.

The March quarter saw the Terms of trade decrease 2.9 per cent in seasonally adjusted terms.

Further details can be found in Australian National Accounts: National Income, Expenditure and Product, (cat no. 5206.0) available for download from the ABS website - http://www.abs.gov.au

Media Note:
  • When reporting ABS data, the Australian Bureau of Statistics (or ABS) must be attributed as the source.
  • Media requests and interviews - contact the ABS Communications Section on 1300 175 070