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5206.0 - Australian National Accounts: National Income, Expenditure and Product, Jun 2015 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 02/09/2015 Released Today  
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JUNE KEY FIGURES

Mar Qtr 2015 to Jun Qtr 2015
Jun Qtr 2014 to Jun Qtr 2015
% change
% change

GDP (Chain volume measure)
Trend
0.5
2.2
Seasonally adjusted
0.2
2.0
Final consumption expenditure (Chain volume measure)
Trend
0.7
2.8
Seasonally adjusted
0.9
2.9
Gross fixed capital formation (Chain volume measure)
Trend
0.2
-2.9
Seasonally adjusted
0.4
-3.3
GDP chain price index
Original
-0.5
-0.5
Terms of trade
Seasonally adjusted
-3.4
-10.6
Real net national disposable income
Trend
-0.3
-0.7
Seasonally adjusted
-0.9
-1.1


GDP growth rates, Volume measures, quarterly change
Graph: GDP growth rates, Volume measures, quarterly change

Contribution to GDP growth, Seasonally adjusted
Graph: Contribution to GDP growth, Seasonally adjusted




JUNE KEY POINTS


GDP SUMMARY
  • The June 2015 quarter national accounts show growth in the Australian economy slowing to 0.2% in seasonally adjusted chain volume terms.
  • Reduced Mining and Construction activity, coupled with a decline in Exports were the main factors to the slowdown in economic growth. Positive contributions came from Domestic final demand, and the Financial, Transport and Health industries.
  • Mining production fell significantly this quarter (-3.0%), although it is still positive through the year with growth at 2.1%. The decline in Mining production coincides with the fall in Exports. Net exports detracted 0.6 percentage points from GDP growth in the quarter, through the year they added 1.1 percentage points to GDP growth.
  • This quarter continues to see the decline in mining related construction (Engineering construction -0.8%), which is reflected in the decline in Construction Gross value added (-0.6%).
  • There was positive growth in Domestic final demand with Household final consumption growing 0.5% this quarter and 2.5% through the year. Government final consumption had growth of 2.2% for the quarter and 4.0% through the year. Public gross fixed capital formation was up 4.0% for the June 2015 quarter, but remains subdued through the year with growth at 0.4%.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
September 2015 2 December 2015
December 2015 2 March 2016
March 2016 1 June 2016
June 2016 7 September 2016



REVISIONS IN THIS ISSUE

There are revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment. Primary and secondary income series of the current account have been revised back to September 2011, these revisions will be reflected in National Accounts.


UPCOMING CHANGES

The annual chain volume measure estimates of Gross Value Added for Iron ore mining and Other mining previously published in Australian System of National Accounts, 2013-14 (ABS cat. no. 5204.0) have been reviewed. New estimates have been produced and these will be incorporated into the annual Supply and Use tables and published in Australian System of National Accounts, 2014-15 (ABS cat. no. 5204.0) on 30 October 2015. Users can request these preliminary estimates for analytical purposes prior to the publication.


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INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or National Accounts by email <national.accounts@abs.gov.au>.



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Commonwealth of Australia 2015

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