5206.0 - Australian National Accounts: National Income, Expenditure and Product, Jun 2010 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 01/09/2010   
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September 1, 2010

Australian economy continues to grow: ABS

Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 1.2% in the June quarter 2010. Growth through the year to June quarter 2010 was 3.3%.

In seasonally adjusted terms growth in the expenditure measure of GDP was driven by a 1.6% increase in household expenditure and an increase in exports of 5.6%. Offsetting these increases was the change in inventories, which detracted 0.7 percentage points from GDP growth for the quarter.

The industries that provided the main contribution to growth in seasonally adjusted terms in the production measure of GDP in the June quarter were Construction with a 4.9% increase, Mining with a 1.5% increase and Professional, scientific & technical services with a 2.3% increase.

In seasonally adjusted terms Real gross domestic income increased by 4.0%, which is the largest quarterly growth in gross domestic income since March 1973. This increase in gross domestic income reflects an increase of 12.5% in the Terms of trade.

Further details can be found in Australian National Accounts: National Income, expenditure and Product (cat. no. 5206.0) available for free download on the ABS website at www.abs.gov.au

Media Note: When reporting ABS data the Australian Bureau of Statistics (or ABS) must be attributed as the source