In this release
For a breakdown of key information from this and other recent economic releases, see ‘12 things that happened in the Australian economy in March quarter 2022'.
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
For a breakdown of key information from this and other recent economic releases, see ‘12 things that happened in the Australian economy in March quarter 2022'.
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 2019-20.
For more information about the changes in this issue, please see revisions and changes on this page.
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | ||
---|---|---|---|---|---|---|---|
Chain volume GDP and related measures (b) | |||||||
GDP | 1.8 | 0.8 | -1.8 | 3.6 | 0.8 | 3.3 | |
GDP per capita (c) | 1.8 | 0.6 | -1.8 | 3.5 | 0.3 | 2.5 | |
Gross value added market sector (d) | 1.9 | 1.4 | -1.6 | 3.6 | 0.7 | 4.2 | |
Real net national disposable income | 3.4 | 2.5 | -4.0 | 2.6 | 1.4 | 2.4 | |
Productivity | |||||||
GDP per hour worked | 0.8 | -1.1 | 3.1 | -0.8 | 1.7 | 2.8 | |
Real unit labour costs | 0.3 | - | 0.1 | -0.8 | -2.0 | -2.7 | |
Prices | |||||||
GDP chain price index (original) | 3.1 | 3.4 | 0.2 | -0.6 | 4.9 | 8.2 | |
Terms of trade | 7.7 | 8.0 | -0.5 | -4.9 | 5.9 | 8.3 | |
Current price measures | |||||||
GDP | 3.8 | 3.2 | -0.6 | 3.5 | 3.7 | 10.2 | |
Household saving ratio | 13.8 | 11.8 | 19.7 | 13.4 | 11.4 | 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 2019-20.
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 0.8% this quarter, following a rise of 3.6% in December. In contrast to previous COVID-19 strains, there was continued growth in economic activity through the peak of the Omicron variant outbreak.
Severe weather events in New South Wales, Queensland and South Australia during the quarter affected supply chains and dampened activity in some industries. For further information on the impacts of these events, see Weather and natural disaster impacts on the Australian national accounts.
Nominal GDP rose 3.7%. The GDP implicit price deflator increased 2.9%, the fastest rate since March quarter 1988.
The terms of trade rose 5.9%, with export (+9.6%) and import prices (+3.5%) both up strongly. Strong demand for Australia's mining and agricultural commodities amidst supply constraints in other producing nations contributed to the rise in export prices.
The domestic final demand implicit price deflator rose 1.4%. This was the strongest growth since the introduction of the Goods and Services Tax, reflecting high levels of demand and increased input costs.
Gross operating surplus plus gross mixed income (GOSMI) rose 3.4%. Mining operating surplus rose 14.7%, reflecting strong growth in commodity prices, particularly coal and iron ore. Exports of mining commodities rose 10.5% in current price terms.
Non-Mining operating surplus fell 0.1%, driven by a decline in COVID-19 subsidies paid to businesses. This was partly offset by increased activity across industries such as Transport, Postal and Warehousing, Wholesale Trade and Arts and Recreation Services.
Gross value added rose 0.5%. Improvements in operating conditions and the labour market drove increased demand for business services, particularly Professional, Scientific and Technical Services (+3.1%).
Rises in hospitality and other related service industries were driven by eased restrictions, including the reopening of domestic and international borders. Transport, Postal and Warehousing (+4.3%), Accommodation and Food Services (+3.7%) and Arts and Recreation Services (+4.4%) all rose.
This was partly offset by Agriculture, Forestry and Fishing (-5.8%), which came off a bumper harvest in the December quarter.
Domestic final demand contributed 1.6 percentage points to GDP growth. Household final consumption expenditure contributed 0.8 percentage points. Government consumption contributed 0.6 percentage points, driven by increased health expenditure. The government's response to the floods in NSW and QLD also contributed to the rise.
Net trade detracted 1.7 percentage points, driven by the strongest rise in imports since December quarter 2009. The increase in imports reflected the arrival of delayed shipments and inventory rebuilding by businesses closer to pre-pandemic levels. Changes in inventories contributed 1.0 percentage point and partly offset the detraction from imports.
a. Contributions may not be additive due to rounding.
Household spending rose 1.5% this quarter.
Spending on discretionary goods and services increased 4.3%, exceeding pre-pandemic levels for the first time. The reopening of domestic and international borders contributed to rises in transport services (+60.0%), recreation and culture (+4.8%) and hotels, cafes and restaurants (+5.3%). Purchase of vehicles rose 13.0% as supply constraints eased.
Essential spending declined 0.2%. Expenditure on food declined 2.0%, reflecting the continued shift towards eating out as restrictions eased. Spending on health also fell as elective surgeries and visits to health practitioners were cancelled as Omicron cases increased.
The household saving ratio declined from 13.4% to 11.4%, remaining above pre-pandemic levels.
Household saving fell as the rise in household spending outpaced growth in gross disposable income. Household gross disposable income rose 0.6% with growth in labour (COE) and non-labour income partly offset by an increase in income payable.
Non-labour income was driven by non-life insurance claims (+18.6%). Households received $2.8 billion in non-life insurance claims related to floods, adding 0.8 percentage points to the saving-to-income ratio. This was partly offset by a decline in support payments from government as restrictions eased.
The increase in income payable reflected higher income tax payable, consistent with strong labour market outcomes.
COE rose 1.8% this quarter. Employed persons rose 1.9%, while hours worked fell 0.9% due to Omicron-related absenteeism.
Private sector COE rose 2.3%. Wage pressures continued to build from skilled labour shortages, resulting in businesses paying more to attract and retain staff.
Public COE rose 0.1%, remaining up strongly through the year.
% Change | % Change | % points contribution to growth in GDP | |||
---|---|---|---|---|---|
Dec 21 to Mar 22 | Mar 21 to Mar 22 | Dec 21 to Mar 22 | |||
Final consumption expenditure | |||||
General government | 2.7 | 8.3 | 0.6 | ||
Households | 1.5 | 4.0 | 0.8 | ||
Total final consumption expenditure | 1.9 | 5.2 | 1.4 | ||
Gross fixed capital formation | |||||
Private | |||||
Dwellings | -1.0 | -1.3 | -0.1 | ||
Ownership transfer costs | -1.4 | 7.7 | - | ||
Non-dwelling construction | -0.2 | 4.0 | - | ||
Machinery and equipment | 3.6 | 1.9 | 0.1 | ||
Cultivated biological resources | 0.6 | 3.0 | - | ||
Intellectual property products | 1.5 | 8.2 | - | ||
Public | 1.7 | 5.3 | 0.1 | ||
Total gross fixed capital formation | 0.7 | 3.3 | 0.2 | ||
Changes in inventories | na | na | 1.0 | ||
Gross national expenditure | 2.6 | 5.4 | 2.5 | ||
Exports of goods and services | -0.9 | -4.2 | -0.2 | ||
Imports of goods and services | 8.1 | 7.6 | -1.5 | ||
Statistical discrepancy (E) | na | na | -0.1 | ||
Gross domestic product | 0.8 | 3.3 | 0.8 |
- nil or rounded to zero (including null cells)
na not available
Household FCE rose 1.5%, driven by a:
The increase was partly offset by a:
General government FCE rose 2.7%, driven by a:
Private investment increased 0.5%, driven by a:
The increase was partly offset by a:
Public investment increased 1.7%, driven by a:
The increase was partly offset by a:
Total inventories rose $7,464m following a rise of $2,426m in the December quarter. The largest contributors to the rise were a:
The rise was partly offset by a:
Exports of goods and services fell 0.9%, driven by a:
The fall was partly offset by a:
Imports of goods and services rose 8.1%, driven by a:
The rise was partly offset by a:
Income estimates are in seasonally adjusted current prices
% Change | % Change | % points contribution to growth in GDP | ||
---|---|---|---|---|
Dec 21 to Mar 22 | Mar 21 to Mar 22 | Dec 21 to Mar 22 | ||
Compensation of employees | 1.8 | 5.5 | 0.8 | |
Gross operating surplus | ||||
Private non-financial corporations | 7.3 | 21.6 | 1.6 | |
Other (a) | 1.2 | 4.5 | 0.1 | |
Gross mixed income | -2.7 | 8.1 | -0.2 | |
Taxes less subsidies on production and imports | 15.7 | 24.0 | 1.4 | |
Statistical discrepancy (I) | na | na | - | |
Gross domestic product | 3.7 | 10.2 | 3.7 |
- 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 1.8%, private sector COE rose 2.3% and public sector COE rose 0.1%. Employed persons rose 1.9%
All states and territories recorded quarterly rises. The largest increases were:
Private non-financial corporations GOS increased 7.3%, driven by a:
Partly offset by a:
Other sectors GOS rose 1.2%, driven by a:
Taxes less subsidies on production and imports rose 15.7%. Taxes on production and imports rose 2.8% driven by GST and gambling tax reflecting the rise in household consumption. Subsidies on production fell 39.8% driven by a further reduction in various business support payments with the easing of COVID-19 related trading restrictions.
% Change | % Change | % points contribution to growth in GDP | |
---|---|---|---|
Dec 21 to Mar 22 | Mar 21 to Mar 22 | Dec 21 to Mar 22 | |
Agriculture, Forestry and Fishing | -5.8 | 10.2 | -0.2 |
Mining | -1.5 | -2.0 | -0.1 |
Manufacturing | 1.1 | 3.2 | 0.1 |
Electricity, Gas, Water and Waste Services | 0.9 | 2.4 | - |
Construction | 0.2 | 4.2 | - |
Wholesale Trade | 3.2 | 2.3 | 0.1 |
Retail Trade | 0.8 | 4.8 | - |
Accommodation and Food Services | 3.7 | -0.5 | 0.1 |
Transport, Postal and Warehousing | 4.3 | 8.3 | 0.2 |
Information Media and Telecommunications | 1.2 | 10.2 | - |
Financial and Insurance Services | 0.7 | 3.1 | 0.1 |
Rental, Hiring and Real Estate Services | -1.8 | 1.1 | -0.1 |
Professional, Scientific and Technical Services | 3.1 | 8.7 | 0.2 |
Administrative and Support Services | 0.5 | 11.1 | - |
Public Administration and Safety | 0.2 | 2.9 | - |
Education and Training | 0.4 | 1.5 | - |
Health Care and Social Assistance | -0.9 | 5.1 | -0.1 |
Arts and Recreation Services | 4.4 | 7.3 | - |
Other Services | -0.2 | 3.3 | - |
Ownership of dwellings | 0.4 | 1.8 | - |
Taxes less subsidies on products | 3.0 | -1.1 | 0.2 |
Statistical discrepancy (P) | na | na | 0.1 |
Gross domestic product | 0.8 | 3.3 | 0.8 |
- nil or rounded to zero (including null cells)
na not available
This decrease was driven by a:
This decrease was driven by a:
This was partly offset by a:
This increase was driven by a:
This was offset by a:
This increase was driven by a:
This was partly offset by a:
This increase was driven by a:
This was offset by:
This increase was driven by:
This was offset by:
This increase was driven by:
This was partly offset by:
This increase was driven by:
This increase was driven by a:
This was partly offset by a:
This increase was driven by a:
This increase was driven by a:
This decrease was driven by a:
This increase was driven by a:
Building Cleaning, Pest Control and Other Support Services rose due to increased demand for workplace and airport cleaning services.
Health Care and Social Assistance fell, driven by private health. Elective surgeries were suspended during the quarter and allied health saw reduced demand with the arrival of Omicron.
Arts and Recreation Services rose due to eased COVID-19 restrictions, with Creative and Performing Arts, Heritage Activities, and Sports and Recreation Activities recording increases.
The fall was driven by Repair and Maintenance, which was affected by COVID-19 related staff absenteeism.
Percentage change from Dec 21 to Mar 22 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
NSW | Vic. | Qld | SA | WA | Tas. | NT | ACT | Aust.(a) | ||
Final consumption expenditure | ||||||||||
General government | 2.1 | 2.4 | 3.2 | 1.1 | 5.3 | 3.4 | 6.2 | 1.7 | 2.7 | |
Households | 1.9 | 2.7 | 0.4 | 0.9 | 0.0 | -0.5 | -0.1 | 3.0 | 1.5 | |
Gross fixed capital formation | ||||||||||
Private | -1.1 | 2.2 | -2.0 | 0.3 | 3.2 | -6.7 | -1.7 | -2.2 | 0.5 | |
Public | -1.3 | 1.6 | 3.8 | 1.0 | 8.3 | -2.8 | 9.1 | 1.7 | 1.7 | |
State final demand | 1.2 | 2.4 | 0.8 | 0.8 | 2.2 | -0.6 | 2.2 | 1.7 | 1.6 |
- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.
The map shows quarterly volume measures of state final demand by state/territory.
New South Wales' state final demand increased 1.2% for the quarter.
Victoria's state final demand increased 2.4% for the quarter.
Queensland's state final demand increased 0.8% for the quarter.
South Australia's state final demand increased 0.8% for the quarter.
Western Australia's state final demand increased 2.2% for the quarter.
Tasmania's state final demand decreased 0.6% for the quarter.
Northern Territory's state final demand increased 2.2% for the quarter.
Australian Capital Territory's state final demand increased 1.7% for the quarter.
Total final consumption expenditure increased 2.0%, driven by a:
Private gross fixed capital formation decreased 1.1%, due to a:
Partly offset by a:
Public gross fixed capital formation decreased 1.3%, driven by a:
Partly offset by a:
Total final consumption expenditure increased 2.6%, due to a:
Private gross fixed capital formation increased 2.2%, driven by a:
Partly offset by a:
Public gross fixed capital formation increased 1.6%, driven by a:
Total final consumption expenditure increased 1.2%, driven by a:
Private gross fixed capital formation decreased 2.0%, due to a:
Partly offset by a:
Public gross fixed capital formation increased 3.8%, driven by a:
Total final consumption expenditure increased 1.0%, due to a:
Private gross fixed capital formation increased 0.3%, driven by a:
Partly offset by a:
Public gross fixed capital formation increased 1.0%, driven by a:
Partly offset by a:
Total final consumption expenditure increased 1.5%, due to a:
Private gross fixed capital formation increased 3.2%, due to a:
Partly offset by a:
Public gross fixed capital formation increased 8.3%, driven by a:
Total final consumption expenditure increased 0.7%, due to a:
Partly offset by a:
Private gross fixed capital formation decreased 6.7%, driven by a:
Public gross fixed capital formation decreased 2.8%, driven by a:
Partly offset by a:
Total final consumption expenditure increased 2.7%, driven by a:
Partly offset by a:
Private gross fixed capital formation decreased 1.7%, due to a:
Partly offset by a:
Public gross fixed capital formation increased 9.1%, driven by a:
Total final consumption expenditure increased 2.2% driven by a:
Private gross fixed capital formation decreased 2.2%, driven by a:
Partly offset by a:
Public gross fixed capital formation increased 1.7%, driven by a:
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | ||
---|---|---|---|---|---|---|---|
Percentage change (a) | |||||||
Chain volume GDP and related measures (b) | |||||||
GDP | 1.8 | 0.8 | -1.8 | 3.6 | 0.8 | 3.3 | |
GDP per capita (c) | 1.8 | 0.6 | -1.8 | 3.5 | 0.3 | 2.5 | |
Gross value added market sector (d) | 1.9 | 1.4 | -1.6 | 3.6 | 0.7 | 4.2 | |
Net domestic product | 2.1 | 0.9 | -2.3 | 4.3 | 0.8 | 3.6 | |
Real income measures (b) | |||||||
Real gross domestic income | 3.6 | 2.6 | -1.8 | 2.2 | 2.1 | 5.0 | |
Real gross national income | 2.9 | 2.3 | -3.4 | 2.3 | 1.3 | 2.4 | |
Real net national disposable income | 3.4 | 2.5 | -4.0 | 2.6 | 1.4 | 2.4 | |
Real net national disposable income per capita (c) | 3.4 | 2.3 | -4.0 | 2.5 | 1.0 | 1.6 | |
Current price measures | |||||||
GDP | 3.8 | 3.2 | -0.6 | 3.5 | 3.7 | 10.2 | |
Productivity | |||||||
Hours worked | 0.9 | 2.0 | -4.7 | 4.4 | -0.9 | 0.5 | |
Hours worked market sector (d) | 1.3 | 2.5 | -6.1 | 5.8 | -0.6 | 1.2 | |
GDP per hour worked | 0.8 | -1.1 | 3.1 | -0.8 | 1.7 | 2.8 | |
Gross value added per hour worked market sector (d) | 0.6 | -1.0 | 4.8 | -2.0 | 1.3 | 3.0 | |
Real unit labour costs | 0.3 | 0.0 | 0.1 | -0.8 | -2.0 | -2.7 | |
Real unit labour costs - non-farm | 0.3 | 0.2 | 0.4 | -0.2 | -2.4 | -1.9 | |
Prices | |||||||
GDP implicit price deflator | 1.9 | 2.4 | 1.3 | -0.1 | 2.9 | 6.6 | |
Domestic final demand implicit price deflator | 0.4 | 0.8 | 0.7 | 1.1 | 1.4 | 4.1 | |
Terms of trade | 7.7 | 8.0 | -0.5 | -4.9 | 5.9 | 8.3 | |
Levels | |||||||
Chain volume GDP and related measures (b) | |||||||
GDP ($m) | 510 590 | 514 784 | 505 413 | 523 725 | 527 676 | . . | |
GDP per capita (c) ($) | 19 878 | 19 997 | 19 633 | 20 317 | 20 380 | . . | |
Gross value added market sector (d) ($m) | 340 952 | 345 862 | 340 342 | 352 688 | 355 249 | . . | |
Net domestic product ($m) | 421 076 | 424 786 | 414 929 | 432 762 | 436 225 | . . | |
Real income measures (b) | |||||||
Real gross domestic income ($m) | 525 630 | 539 105 | 529 377 | 540 997 | 552 151 | . . | |
Real gross national income ($m) | 519 992 | 532 107 | 514 194 | 525 869 | 532 483 | . . | |
Real net national disposable income ($m) | 430 022 | 440 738 | 423 047 | 434 173 | 440 383 | . . | |
Real net national disposable income per capita (c) ($) | 16 741 | 17 120 | 16 434 | 16 843 | 17 009 | . . | |
Current price measures | |||||||
GDP ($m) | 527 433 | 544 542 | 541 366 | 560 439 | 581 276 | . . | |
GDP per capita (c) ($) | 20 534 | 21 153 | 21 030 | 21 741 | 22 450 | . . | |
Gross national income ($m) | 521 662 | 537 482 | 526 879 | 546 371 | 562 512 | . . | |
National net saving ($m) | 49 240 | 56 398 | 53 304 | 52 012 | 55 365 | . . | |
Household saving ratio | 13.8 | 11.8 | 19.7 | 13.4 | 11.4 | . . | |
Prices | |||||||
Terms of trade (index) (e) | 113.5 | 122.6 | 122.0 | 116.0 | 122.9 | . . |
. . 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 2019-20.
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 2019-20 = 100.0.
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | ||
---|---|---|---|---|---|
Percentage change (a) | |||||
Chain volume GDP and related measures (b) | |||||
GDP | -0.1 | - | 0.1 | 0.2 | |
GDP per capita (c) | -0.2 | - | 0.1 | 0.1 | |
Gross value added market sector (d) | -0.1 | 0.2 | 0.2 | - | |
Net domestic product | - | - | 0.1 | 0.2 | |
Real income measures (b) | |||||
Real gross domestic income | - | 0.2 | -0.1 | 0.3 | |
Real gross national income | -0.1 | - | -0.2 | 0.8 | |
Real net national disposable income | -0.1 | 0.1 | -0.2 | 0.9 | |
Real net national disposable income per capita (c) | -0.3 | 0.1 | -0.2 | 0.9 | |
Current price measures | |||||
GDP | - | - | - | 0.1 | |
Household saving ratio (e) | 0.2 | - | -0.1 | -0.2 | |
Productivity | |||||
Hours worked | - | - | 0.1 | 0.1 | |
Hours worked market sector (d) | 0.1 | - | - | 0.2 | |
GDP per hour worked | -0.1 | 0.1 | 0.1 | - | |
Gross value added per hour worked market sector (d) | -0.1 | 0.2 | 0.2 | -0.1 | |
Real unit labour costs | - | - | - | -0.1 | |
Real unit labour costs - non-farm | 0.1 | -0.1 | 0.1 | -0.1 | |
Prices | |||||
Terms of trade | -0.1 | 0.4 | -0.7 | 0.2 |
- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2019-20.
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.
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | Contribution to growth, Dec 21 to Mar 22 | |||
---|---|---|---|---|---|---|---|---|---|
Final consumption expenditure | |||||||||
General government | -0.2 | 1.5 | 3.5 | 0.4 | 2.7 | 8.3 | 0.6 | ||
Households | 1.1 | 1.1 | -4.7 | 6.4 | 1.5 | 4.0 | 0.8 | ||
Goods | -0.7 | 0.7 | -3.1 | 6.2 | 0.3 | 3.9 | 0.1 | ||
Services | 2.4 | 1.3 | -5.7 | 6.5 | 2.3 | 4.0 | 0.7 | ||
Essential | 0.1 | 0.7 | -0.9 | 1.9 | -0.2 | 1.5 | -0.1 | ||
Discretionary | 2.8 | 1.6 | -11.0 | 14.4 | 4.3 | 8.0 | 0.9 | ||
Gross fixed capital formation | |||||||||
Private | 5.9 | 2.2 | 0.7 | -0.7 | 0.5 | 2.7 | 0.1 | ||
Mining | 1.0 | -0.5 | -0.8 | 2.8 | -1.3 | 0.1 | - | ||
Non-mining | 6.5 | 2.4 | 0.7 | -0.2 | 2.4 | 5.3 | 0.2 | ||
Total private business investment | 5.1 | 1.6 | 0.3 | 0.5 | 1.5 | 4.0 | 0.2 | ||
Public | 0.9 | 7.9 | -2.3 | -1.8 | 1.7 | 5.3 | 0.1 | ||
Final demand | |||||||||
Public | - | 2.8 | 2.3 | - | 2.5 | 7.7 | 0.7 | ||
Private | 2.3 | 1.4 | -3.3 | 4.5 | 1.2 | 3.7 | 0.9 |
- nil or rounded to zero
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | |||
---|---|---|---|---|---|---|
Final consumption expenditure | ||||||
General government | -0.2 | 0.3 | -0.3 | 0.3 | ||
Households | -0.1 | - | 0.1 | 0.1 | ||
Goods | - | - | 0.1 | -0.1 | ||
Services | -0.1 | - | 0.1 | 0.2 | ||
Essential | - | - | - | - | ||
Discretionary | -0.3 | - | 0.2 | 0.2 | ||
Gross fixed capital formation | ||||||
Private | -0.2 | 0.3 | - | 0.7 | ||
Mining | -0.1 | 1.4 | 0.3 | 3.2 | ||
Non-mining | - | -0.1 | -0.2 | 0.4 | ||
Total private business investment | - | 0.2 | -0.1 | 1.0 | ||
Public | -0.7 | 0.3 | -0.6 | 0.2 | ||
Final demand | ||||||
Public | -0.3 | 0.4 | -0.4 | 0.3 | ||
Private | -0.1 | 0.1 | 0.1 | 0.3 |
- nil or rounded to zero
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | |||
---|---|---|---|---|---|---|---|
Final consumption expenditure | |||||||
General government | - | 0.3 | 0.7 | 0.1 | 0.6 | ||
Households | 0.6 | 0.6 | -2.5 | 3.3 | 0.8 | ||
Gross fixed capital formation | |||||||
Private | 1.0 | 0.4 | 0.1 | -0.1 | 0.1 | ||
Public | - | 0.4 | -0.1 | -0.1 | 0.1 | ||
Domestic final demand | 1.6 | 1.7 | -1.8 | 3.1 | 1.6 | ||
Changes in inventories | 0.7 | -0.2 | -1.1 | 1.0 | 1.0 | ||
Exports of goods and services | 0.2 | -0.7 | 0.2 | -0.2 | -0.2 | ||
Imports of goods and services | -0.5 | -0.3 | 0.5 | -0.1 | -1.5 | ||
Statistical discrepancy (E) | -0.2 | 0.4 | 0.3 | -0.2 | -0.1 | ||
Gross domestic product | 1.8 | 0.8 | -1.8 | 3.6 | 0.8 |
- nil or rounded to zero
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | Contribution to growth, Dec 21 to Mar 22 | |||
---|---|---|---|---|---|---|---|---|---|
Final consumption expenditure | |||||||||
General government | -0.2 | 1.5 | 3.5 | 0.4 | 2.7 | 8.3 | 0.6 | ||
Households | 1.1 | 1.1 | -4.7 | 6.4 | 1.5 | 4.0 | 0.8 | ||
Total final consumption expenditure | 0.7 | 1.2 | -2.3 | 4.5 | 1.9 | 5.2 | 1.4 | ||
Private gross fixed capital formation | |||||||||
Dwellings | 6.1 | 1.0 | 0.6 | -1.9 | -1.0 | -1.3 | -0.1 | ||
Ownership transfer costs | 11.2 | 9.9 | 3.1 | -3.7 | -1.4 | 7.7 | - | ||
Non-dwelling construction | 1.1 | 0.6 | 3.1 | 0.4 | -0.2 | 4.0 | - | ||
Machinery and equipment | 11.6 | 1.9 | -2.8 | -0.7 | 3.6 | 1.9 | 0.1 | ||
Cultivated biological resources | 8.3 | 6.1 | -10.5 | 7.8 | 0.6 | 3.0 | - | ||
Intellectual property products | 2.5 | 3.1 | 1.2 | 2.2 | 1.5 | 8.2 | - | ||
Total private gross fixed capital formation | 5.9 | 2.2 | 0.7 | -0.7 | 0.5 | 2.7 | 0.1 | ||
Public gross fixed capital formation | |||||||||
Public corporations | -1.1 | 2.6 | -2.6 | 1.3 | -1.0 | 0.2 | - | ||
General government | 1.5 | 9.4 | -2.3 | -2.6 | 2.4 | 6.6 | 0.1 | ||
Total public gross fixed capital formation | 0.9 | 7.9 | -2.3 | -1.8 | 1.7 | 5.3 | 0.1 | ||
Total gross fixed capital formation | 4.8 | 3.5 | 0.0 | -0.9 | 0.7 | 3.3 | 0.2 | ||
Domestic final demand | 1.7 | 1.8 | -1.8 | 3.2 | 1.6 | 4.8 | 1.6 | ||
Changes in inventories | . . | . . | . . | . . | . . | . . | 1.0 | ||
Exports of goods and services | 0.8 | -3.4 | 1.0 | -1.0 | -0.9 | -4.2 | -0.2 | ||
Imports of goods and services | 2.9 | 1.7 | -2.8 | 0.7 | 8.1 | 7.6 | -1.5 | ||
Statistical discrepancy (E) | . . | . . | . . | . . | . . | . . | -0.1 | ||
Gross domestic product | 1.8 | 0.8 | -1.8 | 3.6 | 0.8 | 3.3 | 0.8 |
. . not applicable
- nil or rounded to zero
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | |||
---|---|---|---|---|---|---|
Final consumption expenditure | ||||||
General government | -0.2 | 0.3 | -0.3 | 0.3 | ||
Households | -0.1 | - | 0.1 | 0.1 | ||
Total final consumption expenditure | -0.1 | 0.1 | - | 0.1 | ||
Private gross fixed capital formation | ||||||
Dwellings | -0.6 | 0.5 | 0.2 | 0.3 | ||
Ownership transfer costs | - | - | - | - | ||
Non-dwelling construction | -0.1 | 0.5 | -0.2 | 1.6 | ||
Machinery and equipment | - | - | - | 0.8 | ||
Cultivated biological resources | 3.4 | 1.7 | -0.3 | -0.5 | ||
Intellectual property products | -0.2 | - | - | 0.1 | ||
Total private gross fixed capital formation | -0.2 | 0.3 | - | 0.7 | ||
Public gross fixed capital formation | ||||||
Public corporations | -0.3 | 0.1 | -0.5 | -1.5 | ||
General government | -0.8 | 0.5 | -0.7 | 0.6 | ||
Total public gross fixed capital formation | -0.7 | 0.3 | -0.6 | 0.2 | ||
Total gross fixed capital formation | -0.3 | 0.3 | -0.1 | 0.6 | ||
Domestic final demand | -0.1 | 0.2 | -0.1 | 0.3 | ||
Gross national expenditure | -0.2 | - | - | 0.5 | ||
Exports of goods and services | 0.2 | -0.3 | -0.5 | 0.5 | ||
Imports of goods and services | -0.6 | 0.5 | - | 1.6 | ||
Gross domestic product | -0.1 | - | 0.1 | 0.2 |
- nil or rounded to zero
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | Contribution to growth, Dec 21 to Mar 22 | |
---|---|---|---|---|---|---|---|
Food | -1.7 | -0.7 | 5.4 | -2.2 | -2.0 | 0.4 | -0.2 |
Cigarettes and tobacco | -0.9 | -1.3 | -1.0 | -3.6 | -2.6 | -8.2 | - |
Alcoholic beverages | -3.9 | -1.2 | 8.3 | -2.1 | -3.0 | 1.6 | -0.1 |
Clothing and footwear | -1.0 | 1.0 | -21.5 | 41.3 | 3.1 | 15.4 | 0.1 |
Rent and other dwelling services | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 1.8 | 0.1 |
Electricity, gas and other fuel | -3.4 | 10.0 | -1.0 | -1.6 | -2.4 | 4.5 | -0.1 |
Furnishings and household equipment | -0.4 | -0.1 | -4.3 | 7.8 | -0.1 | 2.9 | - |
Health | -0.4 | 1.8 | -7.1 | 8.1 | -2.3 | -0.2 | -0.2 |
Purchase of vehicles | -2.4 | 7.1 | -8.8 | -2.7 | 13.0 | 7.4 | 0.3 |
Operation of vehicles | 1.4 | 2.0 | -12.8 | 13.9 | 0.0 | 1.3 | - |
Transport services | 11.4 | 24.0 | -44.1 | 53.2 | 60.0 | 69.9 | 0.5 |
Communications | 1.9 | 1.0 | 1.2 | 0.9 | 1.2 | 4.5 | - |
Recreation and culture | 3.1 | -0.7 | -11.7 | 17.1 | 4.8 | 7.6 | 0.5 |
Education services | 0.4 | 0.5 | 0.6 | 0.7 | 0.5 | 2.2 | - |
Hotels, cafes and restaurants | 13.5 | 2.4 | -20.5 | 25.2 | 5.3 | 7.3 | 0.3 |
Insurance and other financial services | 1.3 | 0.7 | 1.1 | 1.3 | 0.9 | 4.0 | 0.1 |
Other goods and services | 2.9 | 0.9 | -5.9 | 8.9 | 0.8 | 4.3 | - |
Total | 1.1 | 1.1 | -4.7 | 6.4 | 1.5 | 4.0 | 1.5 |
- nil or rounded to zero
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | Contribution to growth, Dec 21 to Mar 22 | |
---|---|---|---|---|---|---|---|
Agriculture, Forestry and Fishing | 3.9 | 4.5 | 4.7 | 6.9 | -5.8 | 10.2 | -0.2 |
Mining | 0.3 | -0.9 | 1.7 | -1.2 | -1.5 | -2.0 | -0.1 |
Manufacturing | 2.3 | 1.6 | -1.7 | 2.2 | 1.1 | 3.2 | 0.1 |
Electricity, Gas, Water and Waste Services | -1.4 | 2.1 | 0.1 | -0.7 | 0.9 | 2.4 | - |
Construction | 3.8 | 2.1 | -0.9 | 2.7 | 0.2 | 4.2 | - |
Wholesale Trade | 2.5 | 1.2 | -5.4 | 3.5 | 3.2 | 2.3 | 0.1 |
Retail Trade | -0.5 | 0.5 | -3.5 | 7.2 | 0.8 | 4.8 | - |
Accommodation and Food Services | 5.1 | 3.0 | -24.8 | 23.9 | 3.7 | -0.5 | 0.1 |
Transport, Postal and Warehousing | 4.2 | 2.9 | -2.4 | 3.4 | 4.3 | 8.3 | 0.2 |
Information Media and Telecommunications | -1.8 | 1.9 | 0.9 | 5.8 | 1.2 | 10.2 | - |
Financial and Insurance Services | 1.2 | 1.1 | 0.7 | 0.6 | 0.7 | 3.1 | 0.1 |
Rental, Hiring and Real Estate Services | 6.8 | 1.4 | -0.4 | 1.9 | -1.8 | 1.1 | -0.1 |
Professional, Scientific and Technical Services | 0.3 | 0.2 | 0.2 | 5.0 | 3.1 | 8.7 | 0.2 |
Administrative and Support Services | 2.1 | 6.1 | -1.1 | 5.3 | 0.5 | 11.1 | - |
Public Administration and Safety | -0.6 | 0.2 | 0.8 | 1.6 | 0.2 | 2.9 | - |
Education and Training | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 1.5 | - |
Health Care and Social Assistance | 1.0 | 2.4 | -2.1 | 5.9 | -0.9 | 5.1 | -0.1 |
Arts and Recreation Services | 5.1 | 0.1 | -5.8 | 9.1 | 4.4 | 7.3 | - |
Other Services | 5.6 | 1.8 | -13.6 | 17.7 | -0.2 | 3.3 | - |
Ownership of dwellings | 0.4 | 0.4 | 0.5 | 0.4 | 0.4 | 1.8 | - |
Gross value added at basic prices | 1.5 | 1.3 | -1.2 | 3.2 | 0.5 | 3.8 | 0.5 |
Taxes less subsidies on products | 3.6 | 0.4 | -8.7 | 4.6 | 3.0 | -1.1 | 0.2 |
Statistical discrepancy (P) | . . | . . | . . | . . | . . | . . | 0.1 |
Gross domestic product | 1.8 | 0.8 | -1.8 | 3.6 | 0.8 | 3.3 | 0.8 |
. . not applicable
- nil or rounded to zero
a. Excludes ownership of dwellings.
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | |
---|---|---|---|---|
Agriculture, Forestry and Fishing | 1.9 | 0.7 | 1.3 | -2.1 |
Mining | 0.4 | -0.3 | 0.1 | -0.2 |
Manufacturing | -0.7 | 0.7 | -0.5 | 0.4 |
Electricity, Gas, Water and Waste Services | -0.7 | 0.4 | 0.2 | 0.3 |
Construction | -0.8 | 0.3 | 0.1 | 0.8 |
Wholesale Trade | -0.7 | 0.4 | 0.1 | - |
Retail Trade | 0.5 | -0.3 | -0.1 | -0.2 |
Accommodation and Food Services | -0.4 | 0.3 | 0.7 | -2.2 |
Transport, Postal and Warehousing | -0.1 | -0.3 | 0.8 | 0.4 |
Information Media and Telecommunications | -0.6 | 0.4 | -0.2 | 2.4 |
Financial and Insurance Services | 0.7 | 0.4 | -0.5 | -0.5 |
Rental, Hiring and Real Estate Services | 1.5 | -0.5 | 0.2 | -1.0 |
Professional, Scientific and Technical Services | -1.1 | 0.9 | 0.8 | -0.3 |
Administrative and Support Services | -0.1 | 0.4 | 0.6 | 0.2 |
Public Administration and Safety | - | - | - | - |
Education and Training | - | - | - | - |
Health Care and Social Assistance | - | - | - | 0.1 |
Arts and Recreation Services | 0.1 | -0.5 | 0.8 | 0.9 |
Other Services | -0.3 | 0.1 | - | 2.3 |
Ownership of dwellings | - | -0.1 | - | -0.1 |
Gross value added at basic prices | - | 0.2 | 0.1 | - |
Taxes less subsidies on products | -0.9 | 0.7 | 0.3 | 0.3 |
Gross domestic product | -0.1 | - | 0.1 | 0.2 |
- nil or rounded to zero
a. Excludes ownership of dwellings.
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | Dec 21 to Mar 22 | Through the year, Mar 21 to Mar 22 | Contribution to growth, Dec 21 to Mar 22 | |||
---|---|---|---|---|---|---|---|---|---|
Compensation of employees | |||||||||
Wages and salaries | 1.6 | 1.2 | 0.2 | 2.0 | 1.8 | 5.2 | 0.7 | ||
Employers' social contributions (a) | 1.2 | 0.9 | 2.9 | 1.8 | 1.8 | 7.5 | 0.1 | ||
Total compensation of employees | 1.6 | 1.2 | 0.5 | 2.0 | 1.8 | 5.5 | 0.8 | ||
Gross operating surplus | |||||||||
Non-financial corporations | |||||||||
Private non-financial corporations | -2.4 | 6.7 | 4.8 | 1.4 | 7.3 | 21.6 | 1.6 | ||
Public non-financial corporations | -2.7 | 9.5 | -4.2 | -2.2 | 0.2 | 2.9 | - | ||
Total non-financial corporations | -2.4 | 6.8 | 4.4 | 1.2 | 7.0 | 20.8 | 1.6 | ||
Financial corporations | 0.6 | 1.7 | 1.4 | 1.3 | 0.9 | 5.4 | - | ||
Total corporations | -1.9 | 5.9 | 3.9 | 1.2 | 6.0 | 18.1 | 1.6 | ||
General government | 0.7 | 0.8 | 1.0 | 0.8 | 0.8 | 3.5 | - | ||
Dwellings owned by persons | 0.8 | 1.3 | 0.9 | 0.5 | 1.6 | 4.4 | 0.1 | ||
Total gross operating surplus | -1.2 | 4.6 | 3.1 | 1.1 | 4.8 | 14.4 | 1.8 | ||
Gross mixed income | 0.2 | -0.4 | 8.6 | 2.8 | -2.7 | 8.1 | -0.2 | ||
Total factor income | 0.3 | 2.4 | 2.3 | 1.7 | 2.6 | 9.2 | 2.4 | ||
Taxes less subsidies on production and imports | 62.0 | 12.5 | -26.3 | 29.3 | 15.7 | 24.0 | 1.4 | ||
Statistical discrepancy (I) | . . | . . | . . | . . | . . | . . | - | ||
Gross domestic product | 3.8 | 3.2 | -0.6 | 3.5 | 3.7 | 10.2 | 3.7 |
. . not applicable
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.
Dec 20 to Mar 21 | Mar 21 to Jun 21 | Jun 21 to Sep 21 | Sep 21 to Dec 21 | |||
---|---|---|---|---|---|---|
Compensation of employees | ||||||
Wages and salaries | - | - | - | - | ||
Employers' social contributions (a) | - | -0.1 | - | - | ||
Total compensation of employees | 0.1 | - | - | - | ||
Gross operating surplus | ||||||
Non-financial corporations | ||||||
Private non-financial corporations | - | - | - | 1.0 | ||
Public non-financial corporations | -0.2 | 0.7 | -0.5 | 0.5 | ||
Total non-financial corporations | - | - | -0.1 | 0.9 | ||
Financial corporations | -0.2 | 0.1 | - | 0.1 | ||
Total corporations | -0.1 | - | - | 0.8 | ||
General government | - | - | - | - | ||
Dwellings owned by persons | -0.2 | 0.2 | - | 0.2 | ||
Total gross operating surplus | -0.1 | - | -0.1 | 0.7 | ||
Gross mixed income | 0.2 | -0.6 | 0.4 | -0.2 | ||
Total factor income | - | - | 0.1 | 0.2 | ||
Taxes less subsidies on production and imports | -0.1 | 0.2 | -0.2 | 0.1 | ||
Gross domestic product | - | - | - | 0.1 |
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.
Percentage change from Dec 21 to Mar 22 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
NSW | Vic. | Qld | SA | WA | Tas. | NT | ACT | Aust.(a) | ||
Final consumption expenditure | ||||||||||
General government | 2.1 | 2.4 | 3.2 | 1.1 | 5.3 | 3.4 | 6.2 | 1.7 | 2.7 | |
Households | 1.9 | 2.7 | 0.4 | 0.9 | 0.0 | -0.5 | -0.1 | 3.0 | 1.5 | |
Gross fixed capital formation | ||||||||||
Private | -1.1 | 2.2 | -2.0 | 0.3 | 3.2 | -6.7 | -1.7 | -2.2 | 0.5 | |
Public | -1.3 | 1.6 | 3.8 | 1.0 | 8.3 | -2.8 | 9.1 | 1.7 | 1.7 | |
State final demand | 1.2 | 2.4 | 0.8 | 0.8 | 2.2 | -0.6 | 2.2 | 1.7 | 1.6 |
- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.
The March 2022 issue of Monthly Household Spending Indicator was released on 23 May 2022. The experimental Monthly Household Spending Indicator is derived using aggregated, de-identified banks transactions data from some of Australia’s banking and financial institutions. The ABS transforms the banks transactions data in order to derive the Monthly Household Spending Indicator. As this data is not designed for statistical purposes, its scope varies from Australian National Accounts concept of household final consumption expenditure (HFCE) and the Retail Trade turnover estimates for retail businesses. The indicator should be considered experimental at this stage, as further enhancement to the transformation processes and methodology are expected in the future.
The 2019-20 issue of Australian National Accounts: Input-Output Tables was released on 27 May 2022. This product provides detailed information about the supply and use of products in the Australian economy and the structure of, and inter-relationships between, Australian industries. It presents information on input by industry and output by product group, use of domestic production, imports by industry and final demand categories, taxes and margins on supply by product, and industry and product concordances.
The 2019-20 issue of Australian National Accounts: Input-Output Tables (Product Details) was released on 27 May 2022. It provides details regarding Australian production, imports, intermediate usage, final usage, exports, margins and taxes less subsidies on products and margins for each Input-Output product. There are over 900 Input-Output products classified to the industry from which each originates such as agriculture, manufacturing and construction.
The March quarter 2022 issue of Australian National Accounts: Finance and Wealth will be released on 23 June 2022. 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.
The ABS is aware that since December quarter 2021 there have been differences between the Export Price Index (EPI) and Implicit Price Deflators (IPDs) for Coal (Coal, coke & briquettes) and LNG (Other mineral fuels). With the current price volatility of bulk commodities and ongoing global uncertainty, the March quarter National Accounts and Balance of Payments volumes for Coal and LNG exports have been compiled using movements in the quantity data reported on Customs declarations. The ABS is undertaking further analysis on Coal and LNG export prices and will communicate the outcomes of the analysis in the next International Trade Price Index publication.
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.
In the March quarter 2020 issue of Australian National Accounts: National Income, Expenditure and Product, the ABS advised that the method used to produce seasonally adjusted estimates would be changed from the ‘concurrent’ method to the ‘forward factors’ method for series with significant and prolonged impacts from COVID-19.
Given the large changes in the Australian economy during the COVID-19 period and the continuing use of a forward factors approach to seasonal adjustment, the ABS has undertaken an extensive annual review of seasonally adjusted series. This review changed a range of time series treatments to ensure that the seasonal adjustment process continues to be less influenced by the large irregular movements over the past year. Revisions to most seasonally adjusted series are relatively minor, but larger than would be observed on a quarterly basis through the use of concurrent seasonal adjustment.
For some series, the review has allowed a return to concurrent seasonal adjustment, where economic conditions are assessed to have returned to pre COVID-19 patterns. For the remaining series where this is not the case, forward factors have been calculated for the next 12 months through this annual process.
A datacube with experimental estimates of household final consumption expenditure on food compiled using supermarket scanner data has been included in this Data downloads section.
The ABS plans to replace existing estimates of food consumption with scanner data based estimates in September quarter 2022. If you have any questions or feedback about these changes, please contact National Accounts.
This release previously used catalogue number 5206.0.