5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 05/03/2014   
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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES

Trend
Seasonally adjusted
% change Sep 13 to Dec 13
% change Dec 12 to Dec 13
% points contributions to growth in GDP Sep13 to Dec 13
% change Sep 13 to Dec 13
% change Dec 12 to Dec 13
% points contributions to growth in GDP Sep13 to Dec 13

Final consumption expenditure
General government
0.5
2.1
0.1
0.3
2.7
0.1
Households
0.7
2.5
0.4
0.8
2.6
0.4
Gross fixed capital formation
Private
Dwellings
0.5
2.0
-
1.0
1.4
-
Ownership transfer costs
3.0
16.3
-
1.6
14.7
-
Non-dwelling construction
-3.0
4.1
-0.3
-1.9
7.4
-0.2
Machinery and equipment
-4.0
-14.0
-0.2
-8.8
-18.3
-0.4
Cultivated biological resources
4.8
14.9
-
3.2
17.2
-
Intellectual property products
0.3
1.6
-
-0.2
0.4
-
Public
8.2
-4.9
0.4
4.3
-10.6
0.2
Changes in inventories
-
-
-0.1
na
na
0.2
Gross national expenditure
0.4
1.1
0.4
0.3
0.9
0.3
Exports of goods and services
1.0
5.6
0.2
2.4
6.5
0.5
Imports of goods and services
-0.9
-3.1
0.2
-0.6
-4.6
0.1
Statistical discrepancy (E)
na
na
-0.1
na
na
-0.2
Gross domestic product
0.7
2.7
0.7
0.8
2.8
0.8

- nil or rounded to zero (including null cells)
na not available



DECEMBER QUARTER

Summary Comments

Final Consumption Expenditure
  • Household final consumption expenditure increased 0.8% in seasonally adjusted terms. The main contributors to growth in Household final consumption expenditure were Insurance and other financial services (0.2 percentage points) and Recreation and culture (0.1 percentage points). Government final consumption expenditure increased 0.3% in seasonally adjusted terms.

Gross fixed capital formation
  • Gross fixed capital formation fell 1.2% in seasonally adjusted terms, driven by a decrease of 2.3% in Total private gross fixed capital formation. This decrease is largely due to a 8.8% fall in Total machinery and equipment that follows a 3.5% decrease in the September quarter. Decreases were also recorded in Total non-dwelling construction (-1.9%) and Total intellectual property products (-0.2%). These falls were partially offset by increases in Cultivated biological resources (3.2%), Ownership transfer costs (1.6%) and Total dwellings (1.0%). Total public gross fixed capital formation rose 4.3% this quarter, driven by increases in both Total general government (4.6%) and Total public corporations (3.8%).

Changes in inventories
  • Total inventories decreased $461m in seasonally adjusted terms compared with a decrease of $1173m last quarter. Changes in inventories added 0.2 percentage points to GDP growth during the quarter.

Exports and imports of goods and services
  • Exports of goods and services increased 2.4% in seasonally adjusted terms. Seasonally adjusted Exports of goods increased 2.7%, with Non-rural exports up 2.4% offset by Rural exports down 0.4%.
  • Imports of goods and services decreased 0.6% in seasonally adjusted terms. Seasonally adjusted Imports of goods decreased 0.4%, Capital goods down 1.9%, offset by Intermediate goods up 0.6% and Consumption goods up 0.4%.