5206.0 - Australian National Accounts: National Income, Expenditure and Product, Jun 2012 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 05/09/2012   
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5 September 2012
Embargo: 11.30 am (Canberra time)

Australian economy grows 0.6%

Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 0.6% in the June quarter 2012, after a revised increase of 1.4% in the March quarter.

Growth for the quarter was driven by a 0.6% contribution from final consumption expenditure and a 0.3% contribution from net exports. Theses increases were partially offset by a -0.3% contribution from changes in inventories and a -0.1% contribution from dwelling investment.

The industries that drove growth in the March quarter were Wholesale trade, Transport and Professional and scientific and technical services, each contributing 0.1% to growth in GDP.
The June quarter saw the Terms of trade fall 0.6%.

Further details can be found in Australian National Accounts: National Income, expenditure and Product (cat.no.5206.0).

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