5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/12/2017   
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SEPTEMBER KEY FIGURES

Jun Qtr 2017 to Sep Qtr 2017
Sep Qtr 2016 to Sep Qtr 2017
% change
% change

GDP (Chain volume measure)
Trend
0.6
2.4
Seasonally adjusted
0.6
2.8
Final consumption expenditure (Chain volume measure)
Trend
0.6
2.4
Seasonally adjusted
0.2
2.3
Gross fixed capital formation (Chain volume measure)
Trend
1.0
4.4
Seasonally adjusted
1.8
6.0
GDP chain price index
Original
-
3.3
Terms of trade
Seasonally adjusted
-0.4
9.7
Real net national disposable income
Trend
-
3.4
Seasonally adjusted
0.8
4.5

- nil or rounded to zero (including null cells)

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

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




SEPTEMBER KEY POINTS


GDP SUMMARY
  • The Australian economy grew by 0.6% in seasonally adjusted chain volume terms in the September quarter.
  • Compensation of employees increased 1.2%.
  • 17 of 20 industries recorded positive growth this quarter.
  • New engineering construction increased 6.3%.
  • Household final consumption expenditure increased 0.1% for the quarter.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
December 2017 7 March 2018
March 2018 6 June 2018
June 2018 5 September 2018
September 2018 5 December 2018



REVISIONS IN THIS ISSUE

The estimates in this issue incorporate the 2015-16 annual supply and use tables. The 2015-16 supply and use tables incorporate historical revisions necessary to reflect changes in methods, concepts, classifications and data sources and to maintain consistent time series. These changes have resulted in revisions to the entire National Accounts time series. For information on the role of supply and use tables in the national accounts please see the Analysis of Results section in Australian System of National Accounts, 2016-17 (cat. no. 5204.0). For specific details on the revisions, including changes to estimates, and the range of improvements incorporated in the historical revisions please see the Feature Article included in that publication.

This publication also includes the impact of re-referencing chain volume (CVM) estimates to the 2015-16 financial year. This in isolation will only affect levels of CVM estimates, generally leaving growth rates unchanged. Re-referencing can have an impact on CVM GDP growth (and other estimates) for the latest financial year (2016-17) if there are significant relative price changes between 2014-15 and 2015-16.

The methods for estimating government final consumption expenditure and household final consumption expenditure of cigarettes and tobacco on a quarterly basis have been improved. Implementation of the new methods have resulted in revisions dating back to September quarter 2002 and September quarter 2012 respectively.

There are also revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment.


CHANGES IN THIS ISSUE

This issue includes changes to the published levels of gross value added (GVA) by industry to better illustrate the drivers of the Australia economy, a Feature Article on the changing structure of the Australian economy has been included in this publication. An additional table containing quarterly estimates of components of GVA by industry in current price terms has also been added to the publication. Details of the new industry breakdowns and the affected tables were included in the Information Paper: Changes to selected series in the annual and quarterly Australian National Accounts (cat. no. 5204.0.55.013).


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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>.