5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2017 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 07/03/2018   
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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES



Trend
Seasonally adjusted
% change
Sep 17
to Dec 17
% change
Dec 16
to Dec 17
% points
contributions
to growth
in GDP
Sep 17
to Dec 17
% change
Sep 17
to Dec 17
% change
Dec 16
to Dec 17
% points
contributions
to growth
in GDP
Sep 17
to Dec 17
Final consumption expenditure
General government
0.7
3.5
0.1
1.7
4.9
0.3
Households
0.8
2.9
0.5
1.0
2.9
0.6
Gross fixed capital formation
Private
Dwellings
-1.0
-4.1
-0.1
-1.3
-5.8
-0.1
Ownership transfer costs
-2.3
1.0
-
-2.1
1.5
-
Non-dwelling construction
0.7
7.7
-
-8.0
8.0
-0.5
Machinery and equipment
2.9
7.9
0.1
3.3
8.7
0.1
Cultivated biological resources
-0.8
4.3
-
-1.4
3.3
-
Intellectual property products
0.5
4.0
-
0.6
4.0
-
Public
0.7
8.5
-
2.9
1.5
0.2
Changes in inventories
na
na
na
na
na
-
Gross national expenditure
0.6
2.9
0.7
0.6
3.0
0.6
Exports of goods and services
0.4
3.4
0.1
-1.8
0.8
-0.4
Imports of goods and services
1.1
6.5
-0.3
0.5
6.6
-0.1
Statistical discrepancy (E)
na
na
0.1
na
na
0.2
Gross domestic product
0.6
2.6
0.6
0.4
2.4
0.4
- nil or rounded to zero (including null cells)
na not available


DECEMBER QUARTER

Summary Comments

Final Consumption Expenditure
  • Household final consumption expenditure increased 1.0% in seasonally adjusted terms. This was driven by rises in health (3.4%), hotels, cafes and restaurants (2.9%) and recreation and culture (2.0%). There were falls in electricity, gas and other fuels (-3.1%) and food (-0.7%). Government final consumption expenditure increased 1.7% in seasonally adjusted terms. State and local government consumption grew 0.7%, while national government consumption increased by 3.1%.

Gross fixed capital formation
  • Gross fixed capital formation decreased 1.2% in seasonally adjusted terms. Public investment increased 2.9% during the quarter driven by state and local general government (1.9%). This increase was due to an asset transfer from the private sector. Private investment decreased 2.2% and was driven by non-dwelling construction (-8.0%) and to a lesser extent dwellings, which fell 1.3%. Partially offsetting the fall was machinery and equipment, which rose 3.3%. Total gross fixed capital formation detracted 0.3 percentage points from GDP growth during the quarter.

Changes in inventories
  • Total inventories increased $14m in seasonally adjusted terms following a decrease of $93m last quarter. The increase was driven by a build up in Mining inventories, the second quarterly increase in the last six quarters. Offsetting the increase was a decrease in Farm and Retail Trade inventories.

Exports and imports of goods and services
  • Exports of goods and services fell 1.8% in seasonally adjusted terms. Seasonally adjusted exports of goods fell 1.7%, with rural exports down 9.7% and non-rural exports down 0.3%. Exports of services fell 1.9%.
  • Imports of goods and services rose 0.5% in seasonally adjusted terms. Seasonally adjusted imports of goods rose 1.6% driven by a rise in consumption goods (4.7%) and intermediate goods (4.4%). Imports of services fell 2.7%.