Quarterly estimates of key economic flows in Australia, including gross domestic product (GDP), consumption, investment, income and saving
Trend series for Australian National Accounts: National Income, Expenditure and Product have been reviewed and reinstated. Further details about the reinstatement of trend are available in the Revisions and changes section below.
Unless otherwise stated all figures are in seasonally adjusted, chain volume measures.
The reference year for chain volume measures is 2023-24.
| Mar 25 to Jun 25 | Jun 25 to Sep 25 | Sep 25 to Dec 25 | Dec 25 to Mar 26 | Mar 26 to Jun 26 | Through the year, Jun 25 to Jun 26 | ||
|---|---|---|---|---|---|---|---|
| Chain volume measures (b) | |||||||
| GDP | 0.8 | 0.5 | 0.9 | 0.3 | 0.4 | 2.1 | |
| GDP per capita (c) | 0.4 | 0.1 | 0.6 | -0.1 | - | 0.7 | |
| Gross value added market sector (d) | 1.0 | 0.4 | 1.1 | 0.4 | 0.6 | 2.5 | |
| Real net national disposable income | 0.8 | 0.4 | 0.4 | 0.7 | - | 1.5 | |
| Productivity | |||||||
| GDP per hour worked | 0.5 | 0.3 | - | -0.6 | - | -0.2 | |
| Real unit labour costs | 0.7 | -0.3 | -0.6 | 0.5 | 0.9 | 0.5 | |
| Prices | |||||||
| GDP chain price index (original) | -0.5 | 1.0 | 1.5 | 0.9 | -0.6 | 2.8 | |
| Terms of trade | -0.8 | -0.1 | 0.1 | 1.0 | -1.6 | -0.6 | |
| Current price measures | |||||||
| GDP | 0.9 | 1.9 | 1.9 | 0.6 | 0.8 | 5.3 | |
| Household saving ratio | 5.9 | 6.1 | 7.2 | 6.4 | 6.5 | na | |
na not available
- nil or rounded to zero
a. Change on preceding quarter, except for the last column which shows the change between the current quarter and the corresponding quarter of the previous year. Excludes Household saving ratio.
b. Reference year for chain volume measures and real income measures is 2023-24.
c. Population estimates are as published in the National, state and territory population and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
Gross Domestic Product (GDP) rose 0.4% this quarter and by 2.1% since June 2025.
The modest growth was a result of strength in pockets of private demand that were in part serviced through increased imports, and strength in mining exports in part serviced through drawdowns in mining inventories.
Nominal GDP rose 0.8%. The GDP implicit price deflator (IPD) rose 0.4%, reflecting a rise in the domestic final demand deflator (+0.8%), partly offset by a fall in the terms of trade (-1.6%).
Domestic price growth reflected rising input costs weighing on most areas of the economy as oil prices rose stemming from the conflict in the Middle East. Higher input costs predominantly impacted energy and fuel intensive industries, including Construction, Mining, Manufacturing and Transport, Postal and Warehousing. Construction continued to experience price rises due to ongoing competition for limited resources in both labour and materials. Consumption prices rose driven by rent and food. However, the rate of growth was moderated by the temporary reduction in the fuel excise tax, an appreciation of the Australian dollar and price falls for accommodation services due to weak travel demand.
The fall in the terms of trade was driven by rises in import prices of intermediate goods, heavily impacted by the Middle East conflict which led to higher prices for fuels, fertilisers and plastics. Prices for air and sea freight were also impacted. Imported consumption goods prices fell and imported capital goods prices were flat for the quarter, both broadly influenced by the appreciation of the Australian Dollar. Export prices rose driven by mining commodities, led by coal with high demand from Asia. Prices for other mineral fuels and mineral ores also contributed to the rise.
Domestic final demand contributed 0.3 percentage points to GDP growth.
Private demand was driven by household consumption (+0.2 percentage points), while private investment did not contribute to GDP growth. Public demand contributed 0.1 percentage points to GDP driven by a rise in government consumption.
Net trade contributed 0.1 percentage points to GDP as growth in exports outpaced a rise in imports. This represents the first positive contribution to growth from net trade since December quarter 2023.
Changes in inventories detracted 0.1 percentage points from GDP growth during the quarter. Mining inventories were drawn down as strong export demand exceeded production, particularly for coal. Delayed exports of coal from the cyclone impacted March quarter further contributed to the rundown. Non-mining inventories were built up by motor vehicle wholesalers and retailers in anticipation of ongoing demand for electric and hybrid vehicles.
Components may not be additive due to rounding.
Household consumption grew 0.4% and contributed 0.2ppt to GDP growth. Discretionary spending (+1.4%) led the rise, however nearly half of this increase was due to higher growth in the purchase of vehicles. There were record sales of electric and hybrid vehicles as more households looked to lower ongoing operating vehicle costs. The remaining discretionary categories saw subdued growth, where rising cost of living pressures aligned with restrained spending. Domestic and international tourism was particularly weak as the conflict in the Middle East affected travel to the northern hemisphere. Essential spending fell 0.3% due to a reduction in electricity, gas and other fuels with lower demand due to milder winter conditions. Operation of vehicles fell as household consumed less fuel in response to elevated fuel prices and various state governments' free public transport initiatives.
Components may not be additive due to rounding.
Private investment was flat this quarter and had no impact on GDP growth. Machinery and equipment declined following record imports of automatic data processing equipment in the previous quarter. Business investment remained elevated with an increase in new building construction associated with data centres. Engineering construction increased, driven by various renewable and mining projects. Dwelling construction rose, supported by the ongoing pipeline of work and new project commencements. Ownership transfer costs fell, reflecting the slowing residential property market coinciding with rising interest rates and changes to taxation policies.
Components may not be additive due to rounding.
Net trade contributed 0.1ppt to GDP growth as the increase in exports (+0.8%) outpaced the rise in imports (+0.5%).
Growth in exports was driven by coal, reflecting a bounce back from weather disruptions in March quarter, favourable Australian prices for metallurgical coal and higher demand for thermal coal as a substitute for LNG amid global supply uncertainty. Services exports partly offset the rise with reduced business, personal and educated related travel to Australia.
The rise in imports was driven by motor vehicles to service a current and expected surge in household demand for electric vehicles. Imports of fuels and fertilisers also contributed to the rise to meet domestic demand and build reserves amidst global supply uncertainty. Import of services fell with a significant reduction in Australians travelling overseas, particularly to Europe. Imports of travel services are at their lowest level since recovering from the COVID-19 related border closures.
Components may not be additive due to rounding.
Gross value added (GVA) grew 0.5% driven by business services with ongoing demand for engineering design, management consultancy and digital AI services. Financial and Insurance Services further contributed to the rise with increased demand for banking, mortgage and stock brokerage services.
Goods industries also contributed to growth, with recovery in mining production and high sales volumes for motor vehicle retailers and wholesalers.
Private non-financial corporations Gross Operating Surplus (GOS) rose 2.5%, led by Mining with increased sales and higher prices particularly for coal, crude oil and lithium. Non-mining GOS rose, driven by Professional, Scientific and Technical Services reflecting ongoing demand for computer and engineering design services. Construction GOS rose with increased work done on high value projects in heavy and civil engineering.
Financial corporations GOS rose 2.4%, driven by growth in balances and margins, particularly for dwelling and business loans. Margins rose as effective interest rates on loans rose more than interest rates on deposits.
Compensation of employees (COE) increased 1.5%. Labour market conditions remained tight with the unemployment rate (4.4%) rising slightly by the end of June. Hours worked grew 0.4%, with similar rises across market sector and non-market sectors.
Private sector COE rose 1.4%, driven by Professional, Scientific and Technical Services, Financial and Insurance Services and Construction. Public COE rose 1.8%. Growth in New South Wales, Victoria and Queensland were driven by health with scheduled pay rises for nurses and midwives. Growth in South Australia, Tasmania and Northern Territory reflected new public service enterprise agreements.
The household saving to income ratio rose from 6.4% in the March quarter to 6.5%, as growth in gross disposable income (+1.1%) outpaced nominal household spending of 1.0%.
The rise in gross disposable income was driven by COE, interest received and social assistance benefits. Income payable rose, driven by interest on dwellings. The rise in interest receivable and payable are in line with increased interest rates on loans and deposits during the quarter.
| Mar 26 to Jun 26 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NSW | Vic. | Qld | SA | WA | Tas. | NT | ACT | Aust.(b) | ||
| Final consumption expenditure | ||||||||||
| General government | -0.1 | 1.2 | 1.1 | -2.0 | 1.6 | 0.0 | 1.4 | 0.0 | 0.6 | |
| Households | 0.3 | 0.1 | 0.5 | 0.5 | 1.0 | 0.6 | 0.6 | 0.8 | 0.4 | |
| Gross fixed capital formation | ||||||||||
| Private | -0.4 | -3.0 | 4.2 | 0.7 | 1.1 | -1.3 | 14.5 | 0.4 | 0.0 | |
| Public | -0.9 | -0.9 | -3.0 | 1.4 | -1.3 | -1.3 | -20.6 | 5.8 | -1.3 | |
| State final demand | 0.0 | -0.3 | 1.1 | 0.0 | 1.0 | 0.1 | 1.4 | 0.7 | 0.3 | |
- nil or rounded to zero (including null cells)
a. Change on preceding quarter
b. Australia estimates relate to Domestic final demand.
The map shows quarterly chain volume measures of state final demand by state and territory.
New South Wales' state final demand increased 0.0% for the quarter.
Victoria's state final demand decreased 0.3% for the quarter.
Queensland's state final demand increased 1.1% for the quarter.
South Australia's state final demand increased 0.0% for the quarter.
Western Australia's state final demand increased 1.0% for the quarter.
Tasmania's state final demand increased 0.1% for the quarter.
Northern Territory's state final demand increased 1.4% for the quarter.
Australian Capital Territory's state final demand increased 0.7% for the quarter.
There are revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment.
Over the June quarter 2026, annual seasonal re-analysis of national accounts series was conducted. This process reviewed the seasonal factors in more detail than is possible during a quarterly processing cycle, including assessing the appropriateness of prior corrections.
As a result, revisions to seasonally adjusted estimates are potentially larger than standard revisions due to concurrent seasonal adjustment.
In the March quarter 2020 release of the Australian National Accounts: National Income, Expenditure and Product, the ABS advised that trend estimates for all series in the National Accounts would be suspended from June 2019 due to the significant economic impacts of the COVID-19 pandemic.
Following the return of all time series from forward factors to concurrent adjustment and subsequent analysis of time series, the ABS has reinstated National Accounts trend estimates in this issue of the Australian National Accounts: National Income, Expenditure and Product.
Due to the degree of disruption caused by the COVID-19 pandemic, trend estimates spanning the pandemic and the immediate periods following are likely to be misleading to users, so will remain suppressed in future issues of the Australian National Accounts: National Income, Expenditure and Product. For most series this suppression period will extend from June 2019 to June 2023.
Due to a relatively greater degree of disruption, a longer suppression period spanning the June 2019 to June 2024 quarters has been applied to selected trend series in some tables, these are listed below:
As part of the reinstatement of trend, some series IDs within the downloadable tables have been updated. Please contact national.accounts@abs.gov.au if you require more information.
Statistical revisions are carried out regularly in the Australian National Accounts to reflect the most current information and estimation methods. For most statistical releases, the ABS will try to limit revisions to the most recent quarters. Periodically ABS needs to revise a longer time series of selected estimates, which is referred to as a “historical revision". Historical revisions are important for a number of reasons including improved data quality, to update classifications and to improve international comparability.
This year’s round of targeted historical revisions will be first published in:
The 2026 round of historical revisions incorporates three improvements:
The ABS has introduced industry data sources to improve estimation of Health Care and Social Assistance output, gross value added and related final consumption. Detailed Australian Industry Survey data has allowed the ABS to better reflect the value and composition of the supply and use of services provided by market operators in the industry.
The ABS has updated the sources and methods for the measurement of international non-life insurance in the Balance of Payments and International Investment position, including introducing additional data from the Australian Prudential Regulation Authority (APRA) to estimate trade of non-life insurance. These estimates will be implemented in the National Accounts, Financial Accounts and the Balance of Payments.
The ABS has updated the data sources and methods for international trade in services, incorporating information from the International Air Transport Association (IATA) into trade of passenger transport services estimates. Updates will be implemented in the National Accounts and the Balance of Payments.
As part of this change, the ABS also reviewed the allocation of net expenditure overseas in the National Accounts using updated information from Tourism Research Australia. This will better reflect the composition of Australian resident spending overseas.
The June quarter 2026 issue of Australian National Accounts: Finance and Wealth will be released on 24 September 2026. This publication includes the quarterly household balance sheets with an estimate of net worth. It also provides quarterly estimates of the financial flows and balance outstanding between sectors and various sub-sectors of the domestic economy and with the rest of the world. Other key estimates within the publication include the financial instrument markets, demand for credit by non-financial domestic institutional sectors during the quarter, and their corresponding levels of credit outstanding and quarterly sectoral capital accounts (current price).
The August 2026 issue of the Monthly Household Spending Indicator will be released on 29 September 2026. The Monthly Household Spending Indicator is derived using aggregated, de-identified banks transactions data from some of Australia’s banking and financial institutions. The ABS transforms the banks transactions data in order to derive the Monthly Household Spending Indicator. As this data is not designed for statistical purposes, its scope varies from Australian National Accounts concept of household final consumption expenditure (HFCE) and the Retail Trade turnover estimates for retail businesses.
The 2025-26 issue of the Australian System of National Accounts will be released on 23 October 2026. This publication provides detailed, annual estimates of Australia's national accounts. These include expenditure, income and production estimates of gross domestic product (GDP), productivity estimates, sectoral accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry.
The 2024-25 issue of the Australian National Accounts: Supply Use Tables will be released on 23 October 2026. The Supply Use tables were introduced in the annual National Accounts in 1998 as an integral part of the annual compilation of the Australian System of National Accounts. They are used to ensure Gross Domestic Product is balanced for all three approaches (production, expenditure and income) and provide the annual benchmarks from which the quarterly estimates are compiled.
The 2025-26 issue of Australian National Accounts: State Accounts will be released on 18 November 2026. This publication provides detailed annual estimates of gross state product (GSP) for all states and territories. These are estimated using the expenditure, income and production approaches. Also published are estimates of household incomes.
This release previously used catalogue number 5206.0.