5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2014 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 04/03/2015   
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MEDIA RELEASE
31/2015
4 March 2015
Embargo: 11.30 am (Canberra time)
Australian economy grows 0.5 per cent

Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted chain volume terms, grew 0.5 per cent in the December quarter 2014.

Net exports contributed 0.7 percentage points to GDP growth. Household final consumption expenditure contributed 0.5 percentage points to GDP growth and Total dwelling construction 0.1 percentage points to GDP growth. This was offset by a -0.6 percentage point contribution to GDP growth from Changes in inventories and a -0.1 percentage point contribution from Non-dwelling construction.

The December quarter saw the Terms of trade decrease 1.7 per cent in seasonally adjusted terms.

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.
  • Media requests and interviews - contact the ABS Communications Section on 1300 175 070