5206.0 - Australian National Accounts: National Income, Expenditure and Product, Mar 2013 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 05/06/2013   
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5 June 2013
Embargo: 11.30 am (Canberra time)
Australian economy grows 0.6 per cent

Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted volume terms, grew 0.6 per cent in the March quarter 2013.

Growth for the quarter was driven by a 1.0 per cent contribution from net exports and 0.3 per cent contribution from household final consumption. These increases were partially offset by a -0.9 per cent contribution from public investment and a -0.4 per cent contribution from changes in inventories.

The industries that drove growth in the March quarter were Finance, Mining, Transport and Retail. The Finance industry contributed 0.2 per cent to GDP while the other industries each contributed 0.1 per cent to the increase in GDP.

The March quarter saw the Terms of trade increase 2.7 per cent.

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.