5206.0 - Australian National Accounts: National Income, Expenditure and Product, Sep 2015 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 02/12/2015   
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2 December 2015
Embargoed: 11:30 am (Canberra time)
Australian economy grows 0.9 per cent

Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted chain volume terms, grew 0.9 per cent in the September quarter 2015.

The largest contribution to economic growth this quarter was Exports of goods and services, up 4.6 per cent . This was concentrated in mining commodities, which is reflected by strong growth in Mining activity, bouncing back after a decline in the June quarter.

Strength in the broader economy was also seen in Household final consumption expenditure increasing 0.7 per cent and New and used dwelling construction up 2.0 per cent.

Gross fixed capital formation was the major reason for the weakness in the domestic economy. This is consistent with falling mining investment which is discussed in the feature article "Mining and Non Mining Investment" .
Public gross fixed capital formation also fell 9.2 per cent for the quarter.

The September quarter saw the Terms of trade decrease 2.4 per cent in seasonally adjusted terms.

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

Media Note:
  • When reporting ABS data, the Australian Bureau of Statistics (or ABS) must be attributed as the source.
  • Media requests and interviews - contact the ABS Communications Section on 1300 175 070