5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2012 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 05/12/2012   
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5 December 2012
Embargo: 11.30 am (Canberra time)
Australian economy grows 0.5%

Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 0.5% in the September quarter 2012.

Growth for the quarter was driven by a 0.5% contribution from private business investment, a 0.3% contribution from changes in inventories and a 0.2% contribution from household final consumption expenditure. These increases were partially offset by a -0.5% contribution from public investment.

The industries that drove growth in the September quarter were Mining, Manufacturing and Health. Mining contributed 0.4%, Manufacturing and Health both contributed 0.1% to the increase in GDP.

The September quarter saw the Terms of trade fall 4.0%.

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.