Articles
This quarter's National Accounts includes the following articles:
Quarterly estimates of key economic flows in Australia, including gross domestic product (GDP), consumption, investment, income and saving
This quarter's National Accounts includes the following articles:
Unless otherwise stated all figures are in seasonally adjusted, chain volume measures.
The reference year for chain volume measures is 2018-19.
For more information about the changes in this issue, please see revisions and changes on this page.
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Dec 19 to Dec 20 | ||
---|---|---|---|---|---|---|---|
Chain volume GDP and related measures (b) | |||||||
GDP | 0.4 | -0.3 | -7.0 | 3.4 | 3.1 | -1.1 | |
GDP per capita (c) | 0.1 | -0.6 | -7.2 | 3.3 | 3.0 | -1.8 | |
Gross value added market sector (d) | 0.2 | -0.6 | -7.9 | 3.2 | 3.4 | -2.3 | |
Real net national disposable income | -0.5 | -0.2 | -7.3 | 5.2 | 4.9 | 2.1 | |
Productivity | |||||||
GDP per hour worked | 0.2 | 0.6 | 3.4 | -1.4 | - | 2.5 | |
Real unit labour costs | 1.2 | -0.6 | -8.9 | -0.9 | 6.9 | -4.1 | |
Prices | |||||||
GDP chain price index (original) | -1.2 | 1.0 | -0.3 | -0.1 | 1.7 | 2.4 | |
Terms of trade | -4.5 | 0.4 | 0.8 | 1.3 | 4.7 | 7.4 | |
Current price measures | |||||||
GDP | -0.2 | 0.3 | -7.5 | 4.0 | 4.2 | 0.6 | |
Household saving ratio | 5.3 | 7.9 | 22.0 | 18.7 | 12.0 | na |
na not available
a. Change on preceding quarter, except for the last column which shows the change between the current quarter and the corresponding quarter of the previous year. Excludes Household saving ratio.
b. Reference year for chain volume measures and real income measures is 2018-19.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
Gross Domestic Product (GDP) rose 3.1% this quarter as COVID-19 related restrictions continued to ease. This follows a 3.4% rise in the September quarter 2020. The continuation in the recovery is reflected in through the year results, which improved from -3.7% to -1.1% in the December quarter.
The terms of trade rose 4.7% this quarter off the back of higher export prices, particularly for iron ore. The strength in the terms of trade contributed to a 4.2% increase in nominal GDP, the strongest rise since September quarter 1983.
Domestic final demand contributed 3.2 percentage points to GDP growth. Household final consumption expenditure contributed 2.3 percentage points as constraints on households and businesses continued to lift. Private investment contributed a further 0.7 percentage points to growth.
Spending by households rose 4.3% this quarter, but remained 2.7% down through the year.
Spending on goods rose 2.8% for the quarter and is up 6.2% through the year. Purchase of vehicles rose a record 31.8%, reflecting elevated household disposable income and shifting spending patterns with continued limitations on some expenditure items such as international travel.
Spending on services rose 5.2%. This reflects a partial recovery with spending down 7.8% through the year. Recreation and culture, hotels, cafes and restaurants and health all continued to rebound as movement and trading restrictions eased.
Household spending by Victorians increased 10.4% as strict lockdown restrictions were lifted. The level of spending remains weak at 7.2% below its pre-COVID level.
Household spending for the rest of Australia, excluding Victoria, rose 2.3% in the quarter.
The household saving to income ratio declined to 12.0% from 18.7% last quarter, remaining at elevated levels. Falls in gross disposable income and increases in household consumption both contributed to the decline in saving.
Gross disposable income fell 3.1% in the quarter, but remained strong through the year (up 4.8%). The quarterly fall reflected a decline in government support payments.
Private investment rose 3.9% for the quarter. Both housing and business investment increased, supported by government initiatives and improvements in conditions.
Ownership transfer costs (15.2%) and dwelling investment (4.1%) both contributed to the increase in housing activity. The rise in business investment was driven by a 8.9% increase in machinery and equipment.
GVA rose 2.7% this quarter, with rises in 17 out of the 19 industries. Favourable weather conditions contributed to a large grain harvest, which is reflected in a 26.8% increase in Agriculture, Forestry and Fishing GVA. The impacts of this flowed through the supply chain, including in Wholesale Trade (up 3.6%) and Transport, Postal and Warehousing (up 6.1%). The increase in agricultural production was also reflected in a 23.5% increase in rural exports.
Accommodation and Food Services, Administrative and Support Services and Arts and Recreation Services, industries that were heavily impacted by the pandemic, continued to rebound this quarter as restrictions eased. Despite this, the activity in all three industries remains well below pre-pandemic levels.
COE rose 1.5% this quarter as employment and hours worked increased. Private sector COE continues to recover after being strongly impacted during the onset of the pandemic, rising 1.4% for the quarter. Public sector COE grew 1.8% for the quarter to be 6.7% higher through the year.
a. Contributions may not be additive due to rounding.
Gross operating surplus plus gross mixed income (GOSMI) fell 5.7%, driven by non-mining industries as support payments from government declined.
Mining operating surplus partly offset the fall, rising 8.3%. The strong growth this quarter reflects rising iron ore prices and increased demand for Australia's LNG.
% Change | % Change | % points contribution to growth in GDP | |||
---|---|---|---|---|---|
Sep 20 to Dec 20 | Dec 19 to Dec 20 | Sep 20 to Dec 20 | |||
Final consumption expenditure | |||||
General government | 0.8 | 7.4 | 0.2 | ||
Households | 4.3 | -2.7 | 2.3 | ||
Total final consumption expenditure | 3.2 | -0.1 | 2.4 | ||
Gross fixed capital formation | |||||
Private | |||||
Dwellings | 4.1 | 0.6 | 0.2 | ||
Ownership transfer costs | 15.2 | 15.3 | 0.2 | ||
Non-dwelling construction | -1.9 | -6.2 | -0.1 | ||
Machinery and equipment | 8.9 | -4.3 | 0.3 | ||
Cultivated biological resources | - | 20.7 | - | ||
Intellectual property products | 1.4 | -5.4 | - | ||
Public | 2.5 | 1.8 | 0.1 | ||
Total gross fixed capital formation | 3.6 | -0.9 | 0.8 | ||
Changes in inventories | na | na | -0.1 | ||
Gross national expenditure | 3.2 | -0.3 | 3.1 | ||
Exports of goods and services | 3.8 | -11.7 | 0.8 | ||
Imports of goods and services | 4.9 | -9.6 | -0.9 | ||
Statistical discrepancy (E) | na | na | 0.1 | ||
Gross domestic product | 3.1 | -1.1 | 3.1 |
- nil or rounded to zero (including null cells)
na not available
Household FCE increased 4.3%, this was driven by a:
The increase was partly offset by a:
General government FCE contributed to growth with a rise of 0.8%, driven by a:
The increase was partly offset by a:
Private investment increased 3.9%, driven by a:
Public investment increased 2.5%, driven by a:
The increase was partly offset by a:
Total inventories rose $126m following a fall of $555m in the September quarter. The largest contributors to the rise were a:
The rise was partly offset by a:
Exports of goods and services rose 3.8%, driven by a:
Imports of goods and services rose 4.9%, driven by a:
Income estimates are in seasonally adjusted current prices
% Change | % Change | % points contribution to growth in GDP | ||
---|---|---|---|---|
Sep 20 to Dec 20 | Dec 19 to Dec 20 | Sep 20 to Dec 20 | ||
Compensation of employees | 1.5 | 2.0 | 0.7 | |
Gross operating surplus | ||||
Private non-financial corporations | -7.5 | 11.7 | -1.9 | |
Other(a) | 1.3 | 2.9 | 0.2 | |
Gross mixed income | -12.7 | 13.6 | -1.3 | |
Taxes less subsidies on production and imports | 727.5 | -44.2 | 6.6 | |
Statistical discrepancy (I) | na | na | -0.1 | |
Gross domestic product | 4.2 | 0.6 | 4.2 |
- nil or rounded to zero (including null cells)
na not available
a. Includes Public non-financial corporations, Financial corporations, General government and Dwellings owned by persons.
Compensation of employees rose 1.5 per cent as employment and hours worked increased with underlying activity in the economy.
All states and territories recorded quarterly rises. The largest increases were:
Private non-financial corporations GOS declined 7.5%, driven by a:
Partly offset by a:
Other sectors GOS rose 1.3%, driven by a:
Taxes less subsidies on production and imports rose a record 727.5% reflecting a fall in subsidies on production and imports of $30.1 billion or 52.2%. The decrease in subsidies was driven by large falls in both the JobKeeper and Boosting cash flow for employers policies. Taxes on production and imports rose 2.9% driven by GST and stamp duties.
% Change | % Change | % points contribution to growth in GDP | |||
---|---|---|---|---|---|
Sep 20 to Dec 20 | Dec 19 to Dec 20 | Sep 20 to Dec 20 | |||
Agriculture, Forestry and Fishing | 26.8 | 20.0 | 0.5 | ||
Mining | -1.0 | -3.6 | -0.1 | ||
Manufacturing | 1.2 | -2.0 | 0.1 | ||
Electricity, Gas, Water and Waste Services | -0.9 | -2.8 | - | ||
Construction | 0.3 | -5.2 | - | ||
Wholesale Trade | 3.6 | 4.3 | 0.1 | ||
Retail Trade | 3.7 | 6.3 | 0.2 | ||
Accommodation and Food Services | 7.9 | -13.2 | 0.2 | ||
Transport, Postal and Warehousing | 6.1 | -16.8 | 0.2 | ||
Information Media and Telecommunications | 5.2 | 2.1 | 0.1 | ||
Financial and Insurance Services | 0.4 | 2.9 | - | ||
Rental, Hiring and Real Estate Services | 7.4 | -3.8 | 0.2 | ||
Professional, Scientific and Technical Services | 4.7 | 1.9 | 0.3 | ||
Administrative and Support Services | 9.4 | -14.0 | 0.3 | ||
Public Administration and Safety | 0.8 | 5.5 | - | ||
Education and Training | 0.2 | 0.8 | - | ||
Health Care and Social Assistance | 2.2 | 2.4 | 0.2 | ||
Arts and Recreation Services | 8.4 | -8.2 | 0.1 | ||
Other Services | 9.9 | -7.2 | 0.2 | ||
Ownership of dwellings | 0.4 | 1.7 | - | ||
Taxes less subsidies on products | 8.6 | -1.2 | 0.5 | ||
Statistical discrepancy (P) | na | na | - | ||
Gross domestic product | 3.1 | -1.1 | 3.1 | ||
- nil or rounded to zero (including null cells)
na not available
This increase was driven by a:
This was partly offset by a:
This decrease was driven by a:
This was partly offset by a:
This increase was driven by a:
This was partly offset by a:
The increase was driven by:
The increase was driven by:
The increase was driven by a:
The increase was driven by a:
Finance rose 0.3% reflecting a rise in deposit balances by households. Dwelling loan balances also contributed to growth, consistent with improved housing market activity over the second half of 2020.
This rise was driven by a:
The increase was driven by a:
This was partly offset by a:
Administrative Services contributed to the rise with increased demand for labour hire with improvements in the labour market.
The rise was driven by both private and public health services due to increased demand for medical aids, therapeutic services, dental, general practice medical services, and disability assistance services.
The rise was broad based across the industry with rises in sports and recreation, gambling activities and performing arts as travel and social distancing restrictions continued to ease.
The rise was broad based across the industry with demand for personal care, automotive repair and maintenance and other services improving as businesses reopened with easing of restrictions.
Percentage change from Sep 20 to Dec 20 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
NSW | Vic. | Qld | SA | WA | Tas. | NT | ACT | Aust.(a) | ||
Final consumption expenditure | ||||||||||
General government | 1.5 | 0.8 | -1.2 | 0.1 | 4.4 | 2.1 | -0.3 | -1.4 | 0.8 | |
Households | 3.1 | 10.4 | 2.3 | 0.9 | 0.3 | 2.4 | 5.2 | 4.2 | 4.3 | |
Gross fixed capital formation | ||||||||||
Private | 4.2 | 5.1 | 4.9 | -1.5 | 1.5 | 8.4 | 14.1 | 4.8 | 3.9 | |
Public | 2.2 | 1.5 | 4.1 | 6.1 | 1.3 | 5.7 | -0.7 | 0.8 | 2.5 | |
State final demand | 2.9 | 6.8 | 2.0 | 0.6 | 1.5 | 3.3 | 4.1 | 1.3 | 3.3 |
- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.
Total final consumption expenditure increased 2.7%, driven by a:
Private gross fixed capital formation increased 4.2%, due to a:
Partly offset by a:
Public gross fixed capital formation increased 2.2%, driven by a:
Partly offset by a:
Household final consumption expenditure increased 10.4%, driven by easing COVID-19 restrictions, which led to rises in:
Government final consumption expenditure increased 0.8%, driven by a:
Private gross fixed capital formation increased 5.1%, driven by a:
Public gross fixed capital formation increased 1.5%, driven by a:
Total final consumption expenditure increased 1.3%, due to a:
Partly offset by a:
Private gross fixed capital formation increased 4.9%, due to a:
Public gross fixed capital formation increased 4.1%, due to a:
Partly offset by a:
Total final consumption expenditure increased 0.7%, driven by a:
Private gross fixed capital formation decreased 1.5%, driven by a:
Partly offset by an:
Public gross fixed capital formation increased 6.1%, driven by a:
Total final consumption expenditure increased 1.5%, due to a:
Private gross fixed capital formation increased 1.5%, driven by an:
Partly offset by a:
Public gross fixed capital formation increased 1.3%, driven by a:
Total final consumption expenditure increased 2.3%, due to a:
Private gross fixed capital formation increased 8.4%, driven by a:
Public gross fixed capital formation increased 5.7%, driven by a:
Total final consumption expenditure increased 2.7%, driven by a:
Partly offset by a:
Private gross fixed capital formation increased 14.1%, due to a:
Partly offset by a:
Public gross fixed capital formation decreased 0.7%, driven by an:
Partly offset by a:
Total final consumption expenditure increased 0.9% driven by a:
Partly offset by a:
Private gross fixed capital formation increased 4.8%, driven by a:
Public gross fixed capital formation increased 0.8%, driven by a:
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Through the year, Dec 19 to Dec 20 | ||
---|---|---|---|---|---|---|---|
Percentage change (a) | |||||||
Chain volume GDP and related measures (b) | |||||||
GDP | 0.4 | -0.3 | -7.0 | 3.4 | 3.1 | -1.1 | |
GDP per capita (c) | 0.1 | -0.6 | -7.2 | 3.3 | 3.0 | -1.8 | |
Gross value added market sector (d) | 0.2 | -0.6 | -7.9 | 3.2 | 3.4 | -2.3 | |
Net domestic product | 0.4 | -0.5 | -8.6 | 4.1 | 3.7 | -1.8 | |
Real income measures (b) | |||||||
Real gross domestic income | -0.7 | -0.2 | -6.8 | 3.7 | 4.2 | 0.5 | |
Real gross national income | -0.3 | -0.1 | -5.9 | 4.3 | 4.1 | 2.1 | |
Real net national disposable income | -0.5 | -0.2 | -7.3 | 5.2 | 4.9 | 2.1 | |
Real net national disposable income per capita (c) | -0.9 | -0.5 | -7.5 | 5.2 | 4.7 | 1.4 | |
Current price measures | |||||||
GDP | -0.2 | 0.3 | -7.5 | 4.0 | 4.2 | 0.6 | |
Productivity | |||||||
Hours worked | 0.2 | -0.9 | -10.0 | 4.9 | 3.2 | -3.5 | |
Hours worked market sector (d) | 0.4 | -1.4 | -11.7 | 5.5 | 3.3 | -5.0 | |
GDP per hour worked | 0.2 | 0.6 | 3.4 | -1.4 | 0.0 | 2.5 | |
Gross value added per hour worked market sector (d) | -0.2 | 0.8 | 4.2 | -2.2 | 0.1 | 2.8 | |
Real unit labour costs | 1.2 | -0.6 | -8.9 | -0.9 | 6.9 | -4.1 | |
Real unit labour costs - non-farm | 1.4 | -0.5 | -9.3 | -1.0 | 7.4 | -4.0 | |
Prices | |||||||
GDP implicit price deflator | -0.6 | 0.6 | -0.5 | 0.6 | 1.1 | 1.7 | |
Domestic final demand implicit price deflator | 0.4 | 0.3 | -0.2 | 0.0 | 0.3 | 0.4 | |
Terms of trade | -4.5 | 0.4 | 0.8 | 1.3 | 4.7 | 7.4 | |
Levels | |||||||
Chain volume GDP and related measures (b) | |||||||
GDP ($m) | 497 109 | 495 641 | 460 930 | 476 618 | 491 525 | . . | |
GDP per capita (c) ($) | 19 450 | 19 332 | 17 945 | 18 546 | 19 094 | . . | |
Gross value added market sector (d) ($m) | 337 850 | 335 851 | 309 198 | 319 097 | 330 074 | . . | |
Net domestic product ($m) | 411 241 | 409 306 | 374 103 | 389 288 | 403 710 | . . | |
Real income measures (b) | |||||||
Real gross domestic income ($m) | 496 349 | 495 327 | 461 472 | 478 499 | 498 600 | . . | |
Real gross national income ($m) | 485 123 | 484 685 | 456 180 | 475 772 | 495 434 | . . | |
Real net national disposable income ($m) | 398 842 | 398 133 | 368 955 | 388 185 | 407 199 | . . | |
Real net national disposable income per capita (c) ($) | 15 605 | 15 529 | 14 364 | 15 105 | 15 819 | . . | |
Current price measures | |||||||
GDP ($m) | 504 517 | 506 076 | 468 281 | 486 897 | 507 579 | . . | |
GDP per capita (c) ($) | 19 740 | 19 739 | 18 231 | 18 946 | 19 718 | . . | |
Gross national income ($m) | 494 084 | 495 367 | 462 180 | 483 428 | 504 298 | . . | |
National net saving ($m) | 31 305 | 32 323 | 29 764 | 29 223 | 36 151 | . . | |
Household saving ratio | 5.3 | 7.9 | 22.0 | 18.7 | 12.0 | . . | |
Prices | |||||||
Terms of trade (index) (e) | 99.4 | 99.7 | 100.5 | 101.8 | 106.7 | . . |
. . not applicable
- nil or rounded to zero
a. Change on preceding quarter; last column shows the change between the current quarter and the corresponding quarter of the previous year.
b. Reference year for chain volume measures and real income measures is 2018-19.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
e. Reference year for indexes is 2018-19 = 100.0.
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | ||
---|---|---|---|---|---|
Percentage change (a) | |||||
Chain volume GDP and related measures (b) | |||||
GDP | - | - | - | 0.1 | |
GDP per capita (c) | 0.1 | - | - | 0.1 | |
Gross value added market sector (d) | 0.1 | - | - | 0.1 | |
Net domestic product | - | - | - | 0.1 | |
Real income measures (b) | |||||
Real gross domestic income | - | - | - | 0.2 | |
Real gross national income | - | -0.1 | 0.1 | 0.3 | |
Real net national disposable income | - | -0.1 | 0.1 | 0.4 | |
Real net national disposable income per capita (c) | - | -0.1 | 0.1 | 0.4 | |
Current price measures | |||||
GDP | -0.1 | - | -0.1 | 0.3 | |
Household saving ratio (e) | - | 0.3 | -0.1 | -0.2 | |
Productivity | |||||
Hours worked | - | - | 0.1 | 0.5 | |
Hours worked market sector (d) | - | -0.1 | 0.1 | 0.2 | |
GDP per hour worked | - | - | - | -0.3 | |
Gross value added per hour worked market sector (d) | 0.1 | - | -0.3 | -0.1 | |
Real unit labour costs | - | - | - | -0.2 | |
Real unit labour costs - non-farm | - | - | - | -0.2 | |
Prices | |||||
Terms of trade | -0.1 | - | -0.1 | 0.6 |
- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2018-19.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
e. Revisions to levels.
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Through the year, Dec 19 to Dec 20 | Contribution to growth, Sep 20 to Dec 20 | |||
---|---|---|---|---|---|---|---|---|---|
Final consumption expenditure | |||||||||
General government | 1.2 | 2.0 | 2.9 | 1.5 | 0.8 | 7.4 | 0.2 | ||
Households | 0.3 | -1.4 | -12.3 | 7.9 | 4.3 | -2.7 | 2.3 | ||
Goods | 0.2 | 1.3 | -3.0 | 5.1 | 2.8 | 6.2 | 0.6 | ||
Services | 0.4 | -2.9 | -17.8 | 9.8 | 5.2 | -7.8 | 1.7 | ||
Essential | 0.3 | 0.6 | -4.7 | 4.4 | 1.2 | 1.3 | 0.4 | ||
Discretionary | 0.3 | -4.5 | -24.7 | 15.0 | 9.9 | -9.1 | 1.8 | ||
Gross fixed capital formation | |||||||||
Private | -1.0 | -0.3 | -5.9 | 0.7 | 3.9 | -1.7 | 0.7 | ||
Mining | 6.6 | 3.2 | 0.6 | -3.3 | 1.4 | 1.8 | - | ||
Non-mining | -3.4 | -1.7 | -6.6 | -1.5 | 2.5 | -7.3 | 0.2 | ||
Total private business investment | -1.1 | -0.5 | -4.7 | -2.0 | 2.2 | -5.0 | 0.2 | ||
Public | -0.2 | -0.1 | -0.4 | -0.2 | 2.5 | 1.8 | 0.1 | ||
Final demand | |||||||||
Public | 0.9 | 1.6 | 2.2 | 1.2 | 1.1 | 6.2 | 0.3 | ||
Private | - | -1.1 | -10.7 | 6.0 | 4.2 | -2.5 | 2.9 |
- nil or rounded to zero
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | |||
---|---|---|---|---|---|---|
Final consumption expenditure | ||||||
General government | - | 0.1 | -0.1 | 0.1 | ||
Households | -0.1 | -0.1 | 0.2 | - | ||
Goods | -0.4 | - | 0.4 | -0.1 | ||
Services | 0.1 | -0.1 | 0.1 | - | ||
Essential | -0.3 | - | 0.1 | 0.1 | ||
Discretionary | 0.3 | -0.3 | 0.3 | -0.2 | ||
Gross fixed capital formation | ||||||
Private | - | 0.1 | 0.3 | 0.9 | ||
Mining | 0.8 | -0.5 | 0.1 | 1.9 | ||
Non-mining | 0.2 | 0.1 | 0.5 | 0.6 | ||
Total private business investment | 0.4 | -0.1 | 0.4 | 1.0 | ||
Public | -0.8 | 0.5 | 0.1 | -0.5 | ||
Final demand | ||||||
Public | -0.2 | 0.2 | -0.1 | - | ||
Private | - | - | 0.3 | 0.2 |
- nil or rounded to zero
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | |||
---|---|---|---|---|---|---|---|
Final consumption expenditure | |||||||
General government | 0.2 | 0.4 | 0.6 | 0.3 | 0.2 | ||
Households | 0.2 | -0.8 | -6.7 | 4.0 | 2.3 | ||
Gross fixed capital formation | |||||||
Private | -0.2 | - | -1.0 | 0.1 | 0.7 | ||
Public | - | - | - | - | 0.1 | ||
Domestic final demand | 0.2 | -0.4 | -7.1 | 4.5 | 3.2 | ||
Changes in inventories | 0.3 | -0.3 | -0.5 | 1.0 | -0.1 | ||
Exports of goods and services | -0.2 | -1.0 | -1.8 | -0.9 | 0.8 | ||
Imports of goods and services | 0.1 | 1.5 | 2.4 | -1.1 | -0.9 | ||
Statistical discrepancy (E) | - | -0.1 | - | - | 0.1 | ||
Gross domestic product | 0.4 | -0.3 | -7.0 | 3.4 | 3.1 |
- nil or rounded to zero
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Through the year, Dec 19 to Dec 20 | Contribution to growth, Sep 20 to Dec 20 | ||
---|---|---|---|---|---|---|---|---|
Final consumption expenditure | ||||||||
General government | 1.2 | 2.0 | 2.9 | 1.5 | 0.8 | 7.4 | 0.2 | |
Households | 0.3 | -1.4 | -12.3 | 7.9 | 4.3 | -2.7 | 2.3 | |
Total final consumption expenditure | 0.5 | -0.5 | -8.2 | 5.9 | 3.2 | -0.1 | 2.4 | |
Private gross fixed capital formation | ||||||||
Dwellings | -3.2 | -0.1 | -4.9 | 1.6 | 4.1 | 0.6 | 0.2 | |
Ownership transfer costs | 9.1 | 0.6 | -18.2 | 21.6 | 15.2 | 15.3 | 0.2 | |
Non-dwelling construction | -2.5 | 0.4 | -1.8 | -3.1 | -1.9 | -6.2 | -0.1 | |
Machinery and equipment | -0.2 | -1.4 | -8.2 | -3.0 | 8.9 | -4.3 | 0.3 | |
Cultivated biological resources | -1.2 | 6.2 | 8.9 | 4.4 | - | 20.7 | - | |
Intellectual property products | 0.9 | -1.7 | -7.2 | 2.2 | 1.4 | -5.4 | - | |
Total private gross fixed capital formation | -1.0 | -0.3 | -5.9 | 0.7 | 3.9 | -1.7 | 0.7 | |
Public gross fixed capital formation | ||||||||
Public corporations | -8.3 | 7.7 | -7.1 | 7.2 | -0.6 | 6.7 | - | |
General government | 2.3 | -2.3 | 1.7 | -2.3 | 3.5 | 0.5 | 0.1 | |
Total public gross fixed capital formation | -0.2 | -0.1 | -0.4 | -0.2 | 2.5 | 1.8 | 0.1 | |
Total gross fixed capital formation | -0.8 | -0.2 | -4.6 | 0.5 | 3.6 | -0.9 | 0.8 | |
Domestic final demand | 0.2 | -0.4 | -7.4 | 4.6 | 3.3 | -0.3 | 3.2 | |
Changes in inventories | . . | . . | . . | . . | . . | . . | -0.1 | |
Exports of goods and services | -0.8 | -4.2 | -7.6 | -4.0 | 3.8 | -11.7 | 0.8 | |
Imports of goods and services | -0.6 | -7.2 | -12.3 | 5.9 | 4.9 | -9.6 | -0.9 | |
Statistical discrepancy (E) | . . | . . | . . | . . | . . | . . | 0.1 | |
Gross domestic product | 0.4 | -0.3 | -7.0 | 3.4 | 3.1 | -1.1 | 3.1 |
. . not applicable
- nil or rounded to zero
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | |||
---|---|---|---|---|---|---|
Final consumption expenditure | ||||||
General government | - | 0.1 | -0.1 | 0.1 | ||
Households | -0.1 | -0.1 | 0.2 | - | ||
Total final consumption expenditure | -0.1 | -0.1 | 0.1 | - | ||
Private gross fixed capital formation | ||||||
Dwellings | -0.7 | 0.4 | 0.3 | 1.0 | ||
Ownership transfer costs | - | - | 0.4 | 0.2 | ||
Non-dwelling construction | 0.7 | -0.2 | 0.6 | 1.8 | ||
Machinery and equipment | - | - | - | 0.7 | ||
Cultivated biological resources | -0.5 | 1.5 | 3.3 | -1.9 | ||
Intellectual property products | 0.2 | -0.1 | - | -0.1 | ||
Total private gross fixed capital formation | - | 0.1 | 0.3 | 0.9 | ||
Public gross fixed capital formation | ||||||
Public corporations | -1.0 | 0.4 | 0.8 | -0.8 | ||
General government | -0.8 | 0.5 | - | -0.4 | ||
Total public gross fixed capital formation | -0.8 | 0.5 | 0.1 | -0.5 | ||
Total gross fixed capital formation | -0.2 | 0.2 | 0.3 | 0.6 | ||
Domestic final demand | -0.1 | - | 0.1 | 0.1 | ||
Gross national expenditure | - | - | 0.2 | 0.3 | ||
Exports of goods and services | -0.2 | 0.2 | -0.1 | -0.8 | ||
Imports of goods and services | -0.5 | - | 0.5 | -0.6 | ||
Gross domestic product | - | - | - | 0.1 |
- nil or rounded to zero
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Through the year, Dec 19 to Dec 20 | Contribution to growth, Sep 20 to Dec 20 | |
---|---|---|---|---|---|---|---|
Food | -0.1 | 5.6 | -3.1 | 3.8 | -1.8 | 4.4 | -0.2 |
Cigarettes and tobacco | -4.1 | -4.2 | -3.0 | -1.1 | -6.8 | -14.3 | -0.1 |
Alcoholic beverages | 1.0 | 2.9 | 13.1 | -0.5 | -1.5 | 14.0 | - |
Clothing and footwear | 2.1 | -9.1 | -18.1 | 21.5 | 16.4 | 5.2 | 0.6 |
Rent and other dwelling services | 0.5 | 0.4 | 0.4 | 0.3 | 0.4 | 1.6 | 0.1 |
Electricity, gas and other fuel | 2.0 | -0.6 | 4.4 | 4.8 | -7.5 | 0.5 | -0.2 |
Furnishings and household equipment | 1.3 | 1.3 | 9.7 | -0.9 | 1.1 | 11.3 | 0.1 |
Health | 0.5 | -1.5 | -20.0 | 26.0 | 4.3 | 3.6 | 0.3 |
Purchase of vehicles | -2.4 | -2.2 | -17.8 | 15.3 | 31.8 | 22.2 | 0.6 |
Operation of vehicles | 0.6 | -4.0 | -25.3 | 10.3 | 12.8 | -10.7 | 0.5 |
Transport services | -1.3 | -14.6 | -85.7 | 50.4 | 19.3 | -78.1 | 0.1 |
Communications | 0.3 | 2.1 | 1.6 | 1.3 | 0.6 | 5.8 | - |
Recreation and culture | 0.3 | -1.8 | -15.6 | 12.5 | 9.1 | 1.7 | 0.9 |
Education services | 0.4 | 0.3 | 0.4 | 0.9 | 1.0 | 2.6 | 0.1 |
Hotels, cafes and restaurants | 0.9 | -9.9 | -55.7 | 49.8 | 17.5 | -29.8 | 0.8 |
Insurance and other financial services | - | -0.4 | 0.4 | 0.7 | 0.9 | 1.7 | 0.1 |
Other goods and services | 0.1 | -1.0 | -31.5 | 23.3 | 11.8 | -6.5 | 0.7 |
Total | 0.3 | -1.4 | -12.3 | 7.9 | 4.3 | -2.7 | 4.3 |
- nil or rounded to zero
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Through the year, Dec 19 to Dec 20 | Contribution to growth, Sep 20 to Dec 20 | |
---|---|---|---|---|---|---|---|
Agriculture, Forestry and Fishing | -0.9 | -3.3 | -1.9 | -0.2 | 26.8 | 20.0 | 0.5 |
Mining | -0.1 | -0.5 | - | -2.1 | -1.0 | -3.6 | -0.1 |
Manufacturing | 1.9 | 1.9 | -9.0 | 4.4 | 1.2 | -2.0 | 0.1 |
Electricity, Gas, Water and Waste Services | - | -1.5 | -1.5 | 1.1 | -0.9 | -2.8 | - |
Construction | -2.6 | -0.3 | -7.6 | 2.6 | 0.3 | -5.2 | - |
Wholesale Trade | -0.3 | 2.1 | -6.2 | 5.1 | 3.6 | 4.3 | 0.1 |
Retail Trade | 0.1 | 1.7 | -4.5 | 5.5 | 3.7 | 6.3 | 0.2 |
Accommodation and Food Services | 0.6 | -7.9 | -38.5 | 42.1 | 7.9 | -13.2 | 0.2 |
Transport, Postal and Warehousing | 1.9 | -4.5 | -21.3 | 4.3 | 6.1 | -16.8 | 0.2 |
Information Media and Telecommunications | 0.2 | 0.5 | -8.6 | 5.7 | 5.2 | 2.1 | 0.1 |
Financial and Insurance Services | 0.6 | 1.1 | 0.8 | 0.5 | 0.4 | 2.9 | - |
Rental, Hiring and Real Estate Services | 2.6 | -1.9 | -15.8 | 8.4 | 7.4 | -3.8 | 0.2 |
Professional, Scientific and Technical Services | 0.5 | 1.2 | -6.1 | 2.4 | 4.7 | 1.9 | 0.3 |
Administrative and Support Services | -0.9 | -3.7 | -18.9 | 0.7 | 9.4 | -14.0 | 0.3 |
Public Administration and Safety | 1.2 | 2.3 | 0.8 | 1.5 | 0.8 | 5.5 | - |
Education and Training | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.8 | - |
Health Care and Social Assistance | 1.6 | -0.1 | -8.1 | 9.1 | 2.2 | 2.4 | 0.2 |
Arts and Recreation Services | -1.2 | -2.8 | -23.9 | 14.4 | 8.4 | -8.2 | 0.1 |
Other Services | 1.2 | -4.1 | -17.2 | 6.2 | 9.9 | -7.2 | 0.2 |
Ownership of dwellings | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 1.7 | - |
Gross value added at basic prices | 0.4 | -0.3 | -6.3 | 3.1 | 2.7 | -1.0 | 2.6 |
Taxes less subsidies on products | -0.6 | 0.7 | -15.5 | 7.0 | 8.6 | -1.2 | 0.5 |
Statistical discrepancy (P) | . . | . . | . . | . . | . . | . . | - |
Gross domestic product | 0.4 | -0.3 | -7.0 | 3.4 | 3.1 | -1.1 | 3.1 |
. . not applicable
- nil or rounded to zero
a. Excludes ownership of dwellings.
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | |
---|---|---|---|---|
Agriculture, Forestry and Fishing | 2.7 | -0.4 | - | 0.4 |
Mining | 0.3 | -0.2 | -0.1 | -0.4 |
Manufacturing | 0.1 | -0.2 | 0.1 | 0.4 |
Electricity, Gas, Water and Waste Services | -0.2 | 0.3 | -0.1 | 0.1 |
Construction | -0.1 | 0.2 | - | 0.4 |
Wholesale Trade | -0.3 | 0.3 | 0.2 | 0.4 |
Retail Trade | - | - | - | -0.1 |
Accommodation and Food Services | -0.2 | - | 0.1 | 1.1 |
Transport, Postal and Warehousing | -0.3 | 0.3 | 0.1 | -0.4 |
Information Media and Telecommunications | 0.2 | -0.3 | 0.1 | -0.6 |
Financial and Insurance Services | - | -0.1 | - | 0.1 |
Rental, Hiring and Real Estate Services | -0.1 | 0.1 | -0.2 | 0.7 |
Professional, Scientific and Technical Services | 0.3 | -0.1 | -0.1 | -0.1 |
Administrative and Support Services | - | - | - | -0.1 |
Public Administration and Safety | - | - | -0.1 | - |
Education and Training | - | - | - | - |
Health Care and Social Assistance | - | - | - | - |
Arts and Recreation Services | - | - | - | -0.3 |
Other Services | -0.1 | -0.1 | -1.2 | 2.1 |
Ownership of dwellings | - | - | - | - |
Gross value added at basic prices | 0.1 | -0.1 | - | - |
Taxes less subsidies on products | -0.7 | 0.8 | 0.5 | -0.5 |
Gross domestic product | - | - | - | 0.1 |
- nil or rounded to zero
a. Excludes ownership of dwellings.
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | Sep 20 to Dec 20 | Through the year, Dec 19 to Dec 20 | Contribution to growth, Sep 20 to Dec 20 | |||
---|---|---|---|---|---|---|---|---|---|
Compensation of employees | |||||||||
Wages and salaries | 0.9 | 0.5 | -2.4 | 2.4 | 1.5 | 2.0 | 0.6 | ||
Employers' social contributions (a) | 0.8 | 0.7 | -1.8 | 2.3 | 1.4 | 2.7 | 0.1 | ||
Total compensation of employees | 0.9 | 0.5 | -2.3 | 2.4 | 1.5 | 2.0 | 0.7 | ||
Gross operating surplus | |||||||||
Non-financial corporations | |||||||||
Private non-financial corporations | -2.1 | -2.0 | 18.7 | 3.8 | -7.5 | 11.7 | -1.9 | ||
Public non-financial corporations | 1.7 | 2.9 | -2.7 | 3.9 | 11.4 | 15.8 | 0.1 | ||
Total non-financial corporations | -2.0 | -1.8 | 17.8 | 3.8 | -6.9 | 11.9 | -1.8 | ||
Financial corporations | - | 1.1 | -0.9 | 1.0 | 0.9 | 2.1 | 0.1 | ||
Total corporations | -1.6 | -1.2 | 13.8 | 3.3 | -5.4 | 9.8 | -1.7 | ||
General government | 1.2 | 1.3 | 1.4 | 1.5 | 1.4 | 5.7 | - | ||
Dwellings owned by persons | 0.6 | 0.9 | -0.2 | - | 0.5 | 1.3 | - | ||
Total gross operating surplus | -1.0 | -0.6 | 10.2 | 2.6 | -4.0 | 7.9 | -1.6 | ||
Gross mixed income | 0.2 | -0.6 | 22.5 | 6.7 | -12.7 | 13.6 | -1.3 | ||
Total factor income | 0.1 | - | 4.6 | 2.9 | -2.2 | 5.3 | -2.2 | ||
Taxes less subsidies on production and imports | -1.2 | 1.5 | -118.6 | 52.9 | 727.5 | -44.2 | 6.6 | ||
Statistical discrepancy (I) | . . | . . | . . | . . | . . | . . | -0.1 | ||
Gross domestic product | -0.2 | 0.3 | -7.5 | 4.0 | 4.2 | 0.6 | 4.2 |
. . not applicable
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.
Sep 19 to Dec 19 | Dec 19 to Mar 20 | Mar 20 to Jun 20 | Jun 20 to Sep 20 | |||
---|---|---|---|---|---|---|
Compensation of employees | ||||||
Wages and salaries | -0.1 | - | -0.1 | 0.1 | ||
Employers' social contributions (a) | -0.1 | - | -0.1 | 0.2 | ||
Total compensation of employees | -0.1 | - | - | 0.1 | ||
Gross operating surplus | ||||||
Non-financial corporations | ||||||
Private non-financial corporations | - | - | - | - | ||
Public non-financial corporations | -3.0 | 1.1 | -1.4 | 2.7 | ||
Total non-financial corporations | -0.1 | - | -0.1 | - | ||
Financial corporations | -0.1 | - | - | 0.2 | ||
Total corporations | -0.1 | - | -0.1 | 0.1 | ||
General government | - | - | - | - | ||
Dwellings owned by persons | -0.1 | - | - | - | ||
Total gross operating surplus | -0.1 | - | - | 0.1 | ||
Gross mixed income | 0.2 | -0.3 | 0.3 | -0.1 | ||
Total factor income | -0.1 | - | - | 0.1 | ||
Taxes less subsidies on production and imports | 0.1 | 0.1 | - | - | ||
Gross domestic product | -0.1 | - | -0.1 | 0.3 |
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.
Percentage change from Sep 20 to Dec 20 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
NSW | Vic. | Qld | SA | WA | Tas. | NT | ACT | Aust.(a) | ||
Final consumption expenditure | ||||||||||
General government | 1.5 | 0.8 | -1.2 | 0.1 | 4.4 | 2.1 | -0.3 | -1.4 | 0.8 | |
Households | 3.1 | 10.4 | 2.3 | 0.9 | 0.3 | 2.4 | 5.2 | 4.2 | 4.3 | |
Gross fixed capital formation | ||||||||||
Private | 4.2 | 5.1 | 4.9 | -1.5 | 1.5 | 8.4 | 14.1 | 4.8 | 3.9 | |
Public | 2.2 | 1.5 | 4.1 | 6.1 | 1.3 | 5.7 | -0.7 | 0.8 | 2.5 | |
State final demand | 2.9 | 6.8 | 2.0 | 0.6 | 1.5 | 3.3 | 4.1 | 1.3 | 3.3 |
- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.
The 2019-20 issue of the Australian System of National Accounts was released on 30 October 2020. This publication provides detailed, annual estimates of Australia's national accounts. These include expenditure, income and production estimates of gross domestic product (GDP), productivity estimates, sectorial accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry.
The 2018-19 issue of Australian National Accounts: Supply Use Tables was released on 30 October 2020. The Supply Use tables were introduced in the annual National Accounts in 1998 as an integral part of the annual compilation of the Australian System of National Accounts. They are used to ensure Gross Domestic Product is balanced for all three approaches (production, expenditure and income) and provide the annual benchmarks from which the quarterly estimates are compiled.
The 2019-20 issue of the Australian National Accounts: State Accounts was released on 20 November 2020. This publication provides detailed annual estimates of gross state product (GSP) for all states and territories. These are estimated using the expenditure, income and production approaches. Also published are estimates of household and agricultural incomes.
The 2019-20 issue of Estimates of Industry Multifactor Productivity and the 2018-19 issue of Experimental Estimates of Industry Level KLEMS Multifactor Productivity were released on 30 November 2020. These publications present estimates of multifactor productivity (MFP) for the 16 industries that comprise the market sector. KLEMS estimates enable a more detailed decomposition of industry level productivity performance, with contributions to gross output growth from intermediate inputs, capital and labour.
The December quarter 2020 issue of Australian National Accounts: Finance and Wealth will be released on 25 March 2021. This publication provides quarterly estimates of the financial flows between sectors of the domestic economy and with the rest of the world. This publication also provides estimates of the financial assets and liabilities owned by each sector and various sub-sectors at the end of each quarter. Other key estimates within the publication include the demand for credit by non-financial domestic institutional sectors during the quarter, and their corresponding levels of credit outstanding.
There are revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment.
Due to the impacts of COVID-19 on the economy, trend estimates for all series in the National Accounts have been suspended from June 2019 (inclusive). In the short term, this measurement will be significantly affected by changes to regular patterns in economic activity. If trend estimates were to be calculated without fully accounting for this unusual event, they would likely provide a misleading view of the underlying trend in the economy.
Series with significant and prolonged impacts from COVID-19 will use forward seasonal factors to produce seasonally adjusted estimates instead of the standard concurrent seasonal factors method. The forward factors approach is better suited to managing large movements at the end of a series and will ensure that large movements do not have a disproportionate influence on the seasonal factors.
This release previously used catalogue number 5206.0.