5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2010 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 01/12/2010   
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1 December 2010

Australian economic growth slows

Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 0.2% in the September quarter 2010, after growing 1.1% in the June quarter.

The growth was driven by a 0.6% increase in household expenditure and a 0.9% increase in gross fixed capital expenditure. This growth was partially offset by a strong fall in net exports, the fall in net exports was due to a 2.4% fall in exports and a 0.5% fall in imports.

The industry that drove growth in the September quarter was agriculture, forestry and fishing with an 18.5% increase in seasonally adjusted volume terms driven by strong crop forecasts.

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