Australian National Accounts: National Income, Expenditure and Product

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Quarterly estimates of key economic flows in Australia, including gross domestic product (GDP), consumption, investment, income and saving

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Reference period
September 2022
Released
7/12/2022
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Key statistics

  • The Australian economy rose 0.6% in seasonally adjusted chain volume measures 
  • In nominal terms, GDP rose 0.8%
  • The terms of trade fell 6.6% 
  • Household saving ratio decreased to 6.9% from 8.3% 

In this release

For a breakdown of key information from this and other recent economic releases, see 12 things to know about the Australian economy right now.

This quarter's National Accounts includes the following article:

For more information about the changes in this issue, please see Revisions and changes on this page.

Economic overview

Unless otherwise stated all figures are in seasonally adjusted, chain volume measures.

The reference year for chain volume measures is 2020-21.

September quarter key figures, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22
Chain volume GDP and related measures (b)
 GDP-1.93.80.40.90.65.9
 GDP per capita (c)-2.03.50.10.60.44.7
 Gross value added market sector (d)-1.53.70.51.31.16.8
 Real net national disposable income-3.92.31.32.1-2.53.2
Productivity
 GDP per hour worked1.21.20.4-2.80.6-0.7
 Real unit labour costs-0.1-0.9-2.1-1.52.0-2.5
Prices
 GDP chain price index (original)-0.1-1.05.04.10.28.5
 Terms of trade0.7-5.98.24.8-6.6-0.3
Current price measures
 GDP-0.43.64.14.10.813.1
 Household saving ratio19.412.911.28.36.9na

na not available
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 2020-21.
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.

Australian economy rose 0.6% in the September quarter 2022

Gross Domestic Product (GDP) rose 0.6% this quarter, the fourth consecutive quarter of growth. GDP rose 5.9% through the year, reflecting sustained economic growth since the effects of the Delta outbreak in September quarter 2021. Growth was largely driven by strength in household spending.

Domestic price pressures continue to build

Nominal GDP rose 0.8%. The GDP implicit price deflator (IPD) increased 0.2% with higher domestic prices offset by a fall in the terms of trade.

The domestic final demand IPD rose 1.8%. This was the strongest growth since the introduction of the Goods and Services Tax, reflecting sustained levels of demand and high input costs.

The terms of trade fell 6.6% for the quarter with export (-2.8%) and import (+4.1%) prices both contributing to the fall. Mining commodities drove the fall in export prices with weaker overseas demand for iron ore, and coal prices falling from record highs in previous quarters. 

Domestic final demand drives economic activity

Domestic final demand contributed 0.6 percentage points to GDP growth. Household final consumption expenditure contributed 0.6 percentage points, driven by discretionary spending. Private investment contributed 0.1 percentage points, driven by dwelling and non-dwelling construction activity. 

Net trade detracted 0.2 percentage points driven by a rise in imports (+3.9%), partly offset by a rise in exports (+2.7%).

a. Contributions may not be additive due to rounding.

Travel drives household spending growth

Household spending rose 1.1% this quarter, driven by discretionary goods and services. Hotels, cafes and restaurants (+5.5%) and transport services (+13.9%) led the increases as COVID-related impacts eased, aiding the recovery of domestic and international tourism-related activity. Purchase of vehicles (+10.1%) also contributed to the rise as supply constraints eased and order backlogs were fulfilled.

Dwelling construction rebounds while ownership transfer costs fall

Private investment rose 0.8%, driven by non-dwelling construction of new and existing projects. Dwelling investment increased for the first time since September quarter 2021, with a strong level of housing projects in the pipeline. The rebound in construction activity follows a slight easing of ongoing material and labour shortages, and fewer wet weather impacts relative to previous quarters. 

Ownership transfer costs fell sharply, reflecting lower levels of housing market activity following recent interest rate rises. Despite falling for four consecutive quarters, ownership transfer costs remain above pre-pandemic levels.

Travel services drive trade

Net trade detracted 0.2 percentage points from GDP, with the 2.7% increase in exports being more than offset by the 3.9% rise in imports.

Exports of goods and services contributed 0.6 percentage points to GDP. Exports of services rose 10.6%, reflecting education and personal travel as international students and tourists returned to Australia. Exports of goods increased 1.4% driven by rural goods. Non-rural goods partly offset the rise due to weather and other disruptions hampering exports of coal and gas. 

Imports detracted 0.8 percentage points from growth. Imports of services rose 16.2% as the removal of COVID-related travel restrictions led to increased numbers of Australians travelling aboard.

a. Contributions may not be additive due to rounding.

Operating surplus falls as mining commodity prices weaken

Gross operating surplus plus gross mixed income (GOSMI) fell 2.2%. Mining operating surplus fell 7.1%, reflecting weaker commodity prices, particularly iron ore and coal. Financial corporations operating surplus (+4.9%) partly offset the fall in Mining, increasing at its fastest rate since September quarter 2008, as cash rate rises were passed on to borrowers.

a. Contributions may not be additive due to rounding.

Strong growth in COE as labour market tightens

Compensation of employees (COE) rose 3.2% this quarter, the strongest rise since December quarter 2006. Wage pressures continue to build from skilled labour shortages, resulting in businesses paying more to attract and retain staff and is reflected in average COE per employee up 2.5%. The Fair Work Commission's increase in the minimum wage, and the increase in the superannuation guarantee also contributed to growth. The superannuation guarantee rate increased from 10.0% to 10.5% on 1 July 2022 and is reflected in Employers' social contributions, which added 0.5 percentage points to growth in COE, the largest contribution since the series began.

a. Contributions may not be additive due to rounding.

Household saving ratio continues to decline towards pre-pandemic levels

The household saving ratio declined from 8.3% to 6.9%, returning to levels seen prior to the pandemic.

Household saving fell as the rise in household spending outpaced growth in gross disposable income. Gross disposable income rose 1.6%, driven by labour income (COE). Non-labour income also grew with property income received by households up 9.5%. Offsetting this was income payable growth of 5.2%. This was driven by interest payable on dwellings up 36.0%, in line with interest rate rises during the quarter.

a. Contributions may not be additive due to rounding.

Services industries drive strength in gross value added

Gross value added rose 0.8%. Hospitality, transport and other related services industries drove strength with the continued recovery in domestic and international travel. This was reflected in Accommodation and Food Services (+3.4%), Transport, Postal and Warehousing (+3.5%). and Administrative and Support Services (+3.3%).

Expenditure

Expenditure
 Jun 22 to Sep 22Sep 21 to Sep 22Jun 22 to Sep 22
 % change% change% points contribution to GDP growth
Final consumption expenditure
 General government0.13.3-
 Households1.111.80.6
 Total final consumption expenditure0.89.10.6
Gross fixed capital formation
 Private   
  Dwellings1.0-3.90.1
  Ownership transfer costs-11.2-16.2-0.2
  Non-dwelling construction8.65.20.4
  Machinery and equipment-2.74.4-0.1
  Cultivated biological resources1.616.7-
  Intellectual property products---
 Public-3.41.9-0.2
 Total gross fixed capital formation-0.20.2-
Changes in inventoriesnana0.2
Gross national expenditure0.88.00.8
Exports of goods and services2.76.80.6
Imports of goods and services3.919.1-0.8
Statistical discrepancy (E)nana0.1
Gross domestic product0.65.90.6

- nil or rounded to zero (including null cells)
na not available

Final consumption expenditure (FCE) 0.8%

Household FCE rose 1.1%, driven by a:

  • 5.5% rise in hotels, cafes and restaurants
  • 13.9% rise in transport services
  • 10.1% rise in purchase of vehicles
  • 3.5% rise in operation of vehicles
  • 3.0% rise in clothing and footwear

The increase was partly offset by a:

  • 1.1% fall in recreation and culture
  • 0.8% fall in food
  • 3.3% fall in electricity, gas and other fuel
  • 1.5% fall in furnishings and household equipment

General government FCE rose 0.1%, driven by a:

  • 0.8% rise in state and local
  • 0.8% rise in national defence

The increase was partly offset by a: 

  • 1.0% fall in national non-defence

Gross fixed capital formation (GFCF) -0.2%

Private investment increased 0.8%, driven by a:

  • 8.6% rise in non-dwelling construction
  • 1.0% rise in dwellings

The increase was partly offset by a:

  • 11.2% fall in ownership transfer costs
  • 2.7% fall in machinery and equipment

Public investment decreased 3.4%, driven by a:

  • 2.9% fall in state and local general government
  • 14.9% fall in national defence
  • 8.5% fall in national non-defence

The decrease was partly offset by a:

  • 2.1% rise in state and local public corporations
  • 4.6% rise in commonwealth public corporations

Changes in inventories

Total inventories rose $2,666m following a rise of $1,549m in the June quarter. The largest contributors to the rise were a:

  • $2,024m rise in Mining 
  • $1,764m rise in Retail Trade
  • $206m rise in Other non-farm industries
  • $59m rise in Manufacturing

This rise was partly offset by a:

  • $890m fall in Wholesale Trade 
  • $360m fall in Public Authorities 
  • $137m fall in Farm

Exports and imports of goods and services

Exports of goods and services rose 2.7%, driven by a:

  • 3.7% rise in mineral ores
  • 18.6% rise in travel services
  • 16.1% rise in other rural
  • 7.9% rise in non-monetary gold
  • 2.9% rise in other services

The rise was partly offset by a:

  • 10.2% fall in other mineral fuels
  • 9.8% fall in coal
  • 7.0% fall in other non-rural and sugar

Imports of goods and services rose 3.9%, driven by a:

  • 58.0% rise in travel services
  • 13.0% rise in non-industrial transport equipment
  • 8.5% rise in fuels and lubricants
  • 8.2% rise in parts for other capital goods
  • 11.3% rise in industrial transport equipment

The rise was partly offset by a:

  • 4.2% fall in consumption goods nes
  • 10.8% fall in capital goods nes
  • 2.8% fall in processed industrial supplies nes

Income

Income estimates are in seasonally adjusted current prices

Income
 Jun 22 to Sep 22Sep 21 to Sep 22Jun 22 to Sep 22
 % change% change% points contribution to GDP growth
Compensation of employees3.210.01.4
Gross operating surplus
 Private non-financial corporations-4.717.8-1.2
 Other (a)1.96.00.2
Gross mixed income-1.71.7-0.1
Taxes less subsidies on production and imports4.350.80.4
Statistical discrepancy (I)nana-
Gross domestic product0.813.10.8

- 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 (COE) 3.2%

Compensation of employees rose 3.2%, private sector COE rose 3.4% and public sector COE rose 2.4%. Private sector COE rose in line with the increasingly tight labour market with ongoing labour shortages as reflected in the strong growth in the Wage Price Index. Commonwealth Government policy changes on the minimum wage and superannuation guarantee percentage also contributed to the rise. 

All states and territories recorded quarterly rises. The largest increases were:

  • 4.0% rise in WA
  • 3.6% rise in NSW
  • 2.7% rise in Victoria

Gross operating surplus (GOS) -2.3%

Private non-financial corporations GOS decreased 4.7%, driven by a:

  • fall in Mining driven by large falls in price for coal and metal ores
  • fall in Manufacturing due to weaker sales and higher energy input costs

Partly offset by a:

  • rise in Wholesale Trade due to an increase in sales and a moderation in cost pressures

Other sectors GOS rose 1.9%, driven by a:

  • 4.9% rise in financial corporations
  • 1.6% rise in dwellings owned by persons

Partly offset by a:

  • 8.6% fall in public non-financial corporations

Taxes less subsidies on production and imports 4.3%

Taxes less subsidies on production and imports rose 4.3%. Taxes on production and imports rose 1.7% driven by a rise in excise tax and taxes on international trade, partly offset by a fall in taxes on financial and capital transactions. The rise in fuel excise tax was driven by increased demand and a rise in import volumes of petroleum. Subsidies on production fell 13.1% driven by a reduction in state and local subsidies relating to transport services. 

Production

Production
 Jun 22 to Sep 22Sep 21 to Sep 22Jun 22 to Sep 22
 % change% change% points contribution to GDP growth
Agriculture, Forestry and Fishing-0.4-0.1-
Mining1.2-0.70.1
Manufacturing-1.30.7-0.1
Electricity, Gas, Water and Waste Services0.44.8-
Construction2.36.80.2
Wholesale Trade1.37.50.1
Retail Trade0.68.3-
Accommodation and Food Services3.447.60.1
Transport, Postal and Warehousing3.516.60.2
Information Media and Telecommunications1.112.3-
Financial and Insurance Services0.31.5-
Rental, Hiring and Real Estate Services-0.60.3-
Professional, Scientific and Technical Services1.610.80.1
Administrative and Support Services3.310.60.1
Public Administration and Safety-0.20.5-
Education and Training0.41.3-
Health Care and Social Assistance-0.27.1-
Arts and Recreation Services-0.318.7-
Other Services-0.719.3-
Ownership of dwellings0.51.9-
Taxes less subsidies on products-0.88.4-
Statistical discrepancy (P)nana-0.1
Gross domestic product0.65.90.6

- nil or rounded to zero (including null cells)
na not available

Agriculture, Forestry and Fishing -0.4%

  • This decrease was driven by a 9.0% fall in Forestry and Fishing due to falls in agriculture support services. This was partly offset by a rise of 0.9% in Agriculture driven by increased livestock production, particularly for lamb.

Mining 1.2%

This increase was driven by a:

  • 3.0% rise in Iron Ore Mining, due to improved weather in key production areas and new supply.  
  • 1.7% rise in Exploration and Mining Support Services following a fall in the June quarter 2022. 

This was partly offset by a:

  • 0.2% fall in Coal Mining as wet weather on the East Coast continues to impact production.
  • 3.3% fall in Oil and Gas Extraction as production was interrupted by maintenance activity. 
  • 0.8% fall in Other mining with falls across key commodities.

Manufacturing -1.3%

This decrease was driven by a: 

  • 2.6% fall in Other Manufacturing driven by decreased output in paper and furniture manufacturing.  
  • 2.0% fall in Food, Beverage and Tobacco Products as beverage manufacturing decreased following a strong result in the June quarter. 
  • 2.0% fall in Machinery and Equipment due to material shortages.

This was partly offset by a:

  • 0.7% rise in Metal Products following a fall in the June quarter due to unplanned maintenance activities.
  • 0.2% rise in Petroleum, Coal, Chemical and Rubber Products. 

Electricity, Gas, Water and Waste Services 0.4%

This increase was driven by a:

  • 2.0% rise in Water Supply and Waste Services, with a rise in water services following a fall in the June quarter. 

This was partly offset by a:

  • 9.1% fall in Gas Supply as usage eased following the early onset of cold weather, which drove higher consumption in the June quarter 2022. 
  • 0.2% fall in Electricity Supply. 

Construction 2.3%

All subdivisions rose as supply shortages eased, and new projects commenced. The increase was driven by a: 

  • 2.6% rise in Construction Services as supply constraints eased. 
  • 2.8% rise in Heavy and Civil Engineering Construction due to new commencements on transportation infrastructure and energy projects.
  • 1.1% rise in Building Construction driven by a rise in private non-residential and residential building.

Wholesale Trade 1.3%

This increase was driven by:

  • Basic Material Wholesaling with petroleum wholesalers noting increased supply and demand for fuel. 
  • Motor Vehicle and Motor Vehicle Parts Wholesaling as supply impacts eased as imports rose.

Retail Trade 0.6%

This increase was driven by:

  • Motor Vehicle and Motor Vehicle Parts Retailing as vehicle supply constraints eased this quarter and fuel retailing increased.
  • Other Store Based Retailing due to resilient consumer demand for clothing and footwear, and department stores retailing. 

This was partly offset by:

  • A fall in Food Retailing as supermarket volumes eased in line with higher food prices. 

Accommodation and Food Services 3.4%

This increase was driven by:  

  • Food and Beverage Services with sustained demand for cafes, restaurants, and hospitality venues.   
  • Accommodation Services driven by strong domestic tourism.

Transport, Postal and Warehousing 3.5%

This increase was driven by a: 

  • 4.2% rise in Transport, Postal and Storage Services driven by increased activity at airports and toll road operations.
  • 25.2% rise in Air and Space Transport due to increased international travel.
  • 3.7% rise in Rail, Pipeline and Other Transport driven by recreational transport operators.

 This was partly offset by a:

  • 0.8% fall in Road Transport as volumes eased slightly but remained at high levels.

Information Media and Telecommunications 1.1%

This increase was driven by a:

  • 2.3% rise in Other Information and Media Services driven by Publishing, and Internet Publishing, Broadcasting and ISP Services.

This was partly offset by a: 

  • 0.4% fall in Telecommunication Services, driven by a reduction in household demand. 

Financial and Insurance Services 0.3%

This increase was driven by a: 

  • 0.3% rise in Finance due to strength in business loans. Deposit balances also contributed to the rise.
  • 0.1% rise in Other Financial and Insurance Services driven by superannuation services. 

Rental, Hiring and Real Estate Services -0.6%

This decrease was driven by a: 

  • 1.4% fall in Property Operators and Real Estate Services driven by lower levels of housing market activity and prices. 

This was partly offset by a:

  • 3.9% rise in Rental and Hiring Services driven by industrial machinery and equipment hire. 

Professional, Scientific and Technical Services 1.6%

This increase was driven by a:

  • 2.2% rise in Other Professional, Scientific and Technical Services due to continued demand for consultancy and accounting services.

This was partly offset by a: 

  • 0.3% fall in Computer System Design and Related Services.  

Administrative and Support Services 3.3%

  • Administrative Services rose due to increased demand for travel agents, employment agencies and labour supply businesses.

Health Care and Social Assistance -0.2%

  • Health Care and Social Assistance fell following a rise of 2.3% in the June quarter. Demand for allied health services remained strong, but was offset by weakness in public health. 

Arts and Recreation Services -0.3%

  • Arts and Recreation Services fell as demand decreased for Gambling Activities and Creative and Performing Arts.

Other Services -0.7%

  • The rise was driven by Personal and Other Services as demand eased following three quarters of consecutive growth.

State and territory final demand

State and territory final demand, percentage changes (a)
  Jun 22 to Sep 22
 NSWVic.QldSAWATas.NTACTAust.(b)
Final consumption expenditure
 General government1.1-1.40.9-2.20.20.43.7-0.40.1
 Households0.91.30.61.52.01.11.21.81.1
Gross fixed capital formation
 Private0.70.22.40.6-1.74.73.2-5.80.8
 Public-1.7-6.8-5.1-6.90.54.84.76.2-3.4
State final demand0.70.00.70.10.61.62.70.20.6

- nil or rounded to zero (including null cells)
a. Change on preceding quarter
b. Australia estimates relate to Domestic final demand.

Quarterly volume measures, seasonally adjusted

The map shows quarterly volume measures of state final demand by state/territory.
New South Wales' state final demand increased 0.7% for the quarter.
Victoria's state final demand was unchanged for the quarter.
Queensland's state final demand increased 0.7% for the quarter.
South Australia's state final demand increased 0.1% for the quarter.
Western Australia's state final demand increased 0.6% for the quarter.
Tasmania's state final demand increased 1.6% for the quarter.
Northern Territory's state final demand increased 2.7% for the quarter.
Australian Capital Territory's state final demand increased 0.2% for the quarter.

New South Wales 0.7%

Total final consumption expenditure increased 0.9%, driven by a:

  • 0.9% increase in household consumption. Leading the rises were hotels, cafes and restaurants (+6.4%), transport services (+10.9%) and purchase of vehicles (+9.2%) reflecting increased discretionary spending. Recreation and culture (-3.5%) partially offset the increase due to weakness in gambling services and audio-visual equipment. 
  • 1.1% increase in government spending, led by a 2.7% increase in state and local expenditure reflecting growth in employee expenses in the health sector and a rise in use of goods and services due to flood assistance and repairs.  National expenditure (-0.8%) partly offset the rise due to a decrease in non-defence expenditure as COVID-19 related spending declined. 

Private gross fixed capital formation increased 0.7%, due to a:

  • 5.8% increase in non-dwelling construction led by strength in new building construction and a smaller increase in new engineering.
  • 2.9% increase in machinery and equipment due to increased spending from the construction industry for vehicles and excavators. 

Partly offset by a:

  • 15.5% decrease in ownership transfer costs due to the continued slowdown in the residential property market.

Public gross fixed capital formation decreased 1.7%, driven by a:

  • 7.5% decrease in public corporations led by weakness in state and local investment in utility and recreational infrastructure. 

Partly offset by a:

  • 0.3% increase in general government led by a rise in state and local expenditure (3.2%) with increased investment in transport infrastructure. 

Victoria 0.0%

Total final consumption expenditure increased 0.5%, due to a:

  • 1.3% increase in household consumption. There was an increase in discretionary spending on goods and services with hotels, cafes and restaurants (+6.0%), purchase of vehicles (+11.2%), and clothing and footwear (+5.1%) leading the rises. Furnishings and household equipment (-3.0%) partly offset the rise.

Partly offset by a:

  • 1.4% decrease in government expenditure led by a fall in state and local government (-1.6%) due to reduced health related spending on the use of goods and services and social benefits such as rapid antigen tests. 

Private gross fixed capital formation increased 0.2%, driven by a:

  • 15.0% increase in non-dwelling construction due to a strong increase in new engineering construction and fewer disposals of second-hand assets to the public sector. 

Partly offset by a:

  • 7.9% decrease in machinery and equipment led by the reduction of spending on supply chain projects and fewer vehicle purchases by businesses.
  • 10.4% decrease in ownership transfer costs as a result of the slowdown in the residential property market.

Public gross fixed capital formation decreased 6.8%, driven by a:

  • 10.9% decrease in general government with weakness in state and local (-9.7%) due to fewer second-hand assets acquired from the private sector this quarter. This was partially offset by strength in health and education building investment.

Partly offset by a:

  • 14.2% increase in total public corporations led by strength in state and local (11.7%) with a ramp up in work done on transport infrastructure.

Queensland 0.7%

Total final consumption expenditure increased 0.7%, driven by a: 

  • 0.6% increase in household consumption due increased spending on discretionary goods and services. The rise was led by strength in purchase of vehicles (+14.0%), hotels, cafes and restaurants (+3.8%), operation of vehicles (+6.4%) and transport services (+12.3%). Electricity, gas and other fuel (-33.0%) partly offset the rise due to the Cost of Living Rebate for Households.
  • 0.9% increase in government expenditure, as state and local expenditure rose (+2.2%) primarily in social benefits to households due to the government’s Cost of Living Rebate for Households. There were also increases in state and local employee expenses and health related use of goods and services.

Private gross fixed capital formation rose 2.4%, driven by a:

  • 11.3% rise in total non-dwelling construction led by new buildings, renewable energy projects and fewer disposals of second-hand assets to the public sector.

Partly offset by a:

  • 8.9% fall ownership transfer costs as a result of the falling activity in the residential property market.

Public gross fixed capital formation fell 5.1% driven by a:

  • 8.1% decrease in general government with a decrease in both national (-17.2%) and state and local (-5.5%).

Partly offset by a:

  • 7.1% increase in total public corporations led by strength in state and local (5.5%) predominantly due to fewer sales of buildings this quarter.

South Australia 0.1%

Total final consumption expenditure increased 0.4%, driven by a:

  • 1.5% increase in household consumption. Discretionary spending led the growth with rises in both recreation and culture (+2.6%) and hotels, cafes and restaurants (+3.2%). Transport services rose strongly (+14.0%) benefitting from increased spending on tourism. 

Partly offset by a:

  • 2.2% decrease in government expenditure led by a 3.5% fall in state and local. This was due to decreased COVID-19 related expenditure with the use of goods and services for health and the provision of rapid antigen tests (RATs) to households both falling. 

Private gross fixed capital formation increased 0.6%, driven by a:

  • 4.3% increase in total non-dwelling construction primarily due to new engineering construction projects.
  • 2.9% increase in total machinery and equipment led by the purchases of vehicles by small businesses.

Partly offset by a:

  • 4.3% decrease in total dwellings, driven by a decline in alterations and additions and less work on houses as projects associated with HomeBuilder are completed.
  • 4.7% decrease in ownership transfer costs as a result of the cooling housing market.

Public gross fixed capital formation fell 6.9%, driven by a:

  • 8.5% decrease in state and local general government as new education building and infrastructure projects approached completion.

Partly offset by a:

  • 2.9% increase in state and local public corporations led by strength in utilities infrastructure.

Western Australia 0.6%

Total final consumption expenditure increased 1.4%, due to a:

  • 2.0% increase in household consumption. Leading the rise was transport services (+30.3%) as travel continued to rebound after borders reopened in the March quarter. Increased expenditure on electricity, gas and other fuel (+38.4%) follows a fall in the previous quarter (-44.4%) which was impacted by the Western Australian Government's Household Electricity Credit. Also contributing to the rise were hotels, cafes and restaurants (+4.2%) and health (+3.5%).
  • 0.2% increase in government expenditure driven by a rise of 0.7% in state and local spending led by strength in employee expenses across a range of departments and agencies.

Private gross fixed capital formation decreased 1.7%, due to a:

  • 10.1% fall in total machinery and equipment due to reduced investment by the Mining industry.
  • 3.4% fall in total dwellings due to on-going material and labour shortages and increased costs.
  • 2.2% fall in intellectual property products due to weakness in mineral and petroleum exploration.

Partly offset by a:

  • 5.9% increase in total non-dwelling construction driven by increased mining investment. 

Public gross fixed capital formation increased 0.5%, driven by a:

  • 7.7% increase in state and local general government due to a rise in spending on health buildings and new road infrastructure.

Partly offset by a:

  • 18.5% decrease in national general government. 

Tasmania 1.6%

Total final consumption expenditure increased 0.9%, due to a:

  • 1.1% increase in household consumption. Leading the rise were hotels, cafes and restaurants (+9.9%) and transport services (+16.7%) reflecting strong tourism spending. Also contributing to the rise was a rebound in purchase of vehicles (+7.1%). 
  • 0.4% increase in government expenditure driven by strength in state and local (+1.3%) government as the use of goods and services rose. 

Private gross fixed capital formation increased 4.7%, driven by a:

  • 16.0% increase in total machinery and equipment driven by spending on transport vehicles and equipment across several industries.
  • 4.4% increase in total dwellings reflecting a rebound in new housing construction, after three quarters of falls.

Partly offset by a: 

  • 7.7% decrease in ownership transfer costs, reflecting declines in housing market activity.
  • 4.1% decrease in total non-dwelling construction driven by falls in new building investment as existing projects near completion. 

Public gross fixed capital formation increased 4.8%, driven by a:

  • 8.1% rise in state and local general government due to increased spending on road infrastructure projects.
  • 8.7% increase in state and local public corporations due to a rise in investment on utilities.

Northern Territory 2.7%

Total final consumption expenditure increased 2.4%, driven by a:

  • 3.7% increase in government expenditure, driven by a 6.6% increase in state and local expenditure reflecting strength in both non-employee and employee expenses.
  • 1.2% increase in household consumption driven by rises in hotels, cafes and restaurants (+7.4%), transport services (+11.8%), operation of vehicles (+5.7%) and health (+4.2%), with the strength in discretionary service categories reflecting the strong tourism spend.

Private gross fixed capital formation increased 3.2%, driven by a: 

  • 7.6% increase in non-dwelling construction led by strength in both new engineering construction and new building construction.

Partly offset by a:

  • 10.4% decrease in total machinery and equipment due to reduced expenditure by the Mining industry. 
  • 3.4% decrease in total dwellings due to falls in alterations and additions.

Public gross fixed capital formation increased 4.7%, driven by a:

  • 4.9% increase in state and local general government due to increased spending on road infrastructure projects.
  • 16.8% increase in state and local public corporations driven by increased investment in utilities.

Australian Capital Territory 0.2%

Total final consumption expenditure increased 0.5%, driven by a:

  • 1.8% increase in household consumption due to rises in hotels, cafes and restaurants (+8.4%), transport services (+13.4%) and recreation and culture (+1.9%) reflecting increased spending on discretionary services. Operation of vehicles (+3.8%) and purchase of vehicles (+9.2%) added to the rise. 

Partly offset by a:

  • 0.4% decrease in government expenditure due to a 1.0% fall in state and local led by weakness in social benefits to households with less spending on rapid antigen tests (RATs). 

Private gross fixed capital formation decreased 5.8%, driven by a:

  • 19.6% decrease in total non-dwelling construction driven by a fall in new building construction.
  • 21.1% decrease in total machinery and equipment due to a decrease in purchases of IT equipment and vehicles.

Partly offset by a:

  • 3.8% increase in total dwellings led by strength in work done on alterations and additions and other dwellings such as apartments and townhouses.

Public gross fixed capital formation increased 6.2%, driven by a:

  • 385.5% increase in state and local public corporations reflecting a rise in infrastructure investment.
  • 3.3% increase in national general government expenditure due to increased spending on machinery and equipment.

Key tables

Key national accounts aggregates

Key national accounts aggregates, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22
Chain volume GDP and related measures (b)
 GDP-1.93.80.40.90.65.9
 GDP per capita (c)-2.03.50.10.60.44.7
 Gross value added market sector (d)-1.53.70.51.31.16.8
 Net domestic product-2.54.50.40.90.76.6
Real income measures (b)
 Real gross domestic income-1.82.32.22.1-1.05.8
 Real gross national income-3.22.01.21.8-2.03.0
 Real net national disposable income-3.92.31.32.1-2.53.2
 Real net national disposable income per capita (c)-4.02.01.01.9-2.72.1
Current price measures
 GDP-0.43.64.14.10.813.1
Productivity
 Hours worked-3.12.60.03.80.06.6
 Hours worked market sector (d)-4.53.50.84.60.49.6
 GDP per hour worked1.21.20.4-2.80.6-0.7
 Gross value added per hour worked market sector (d)3.10.2-0.3-3.20.7-2.6
 Real unit labour costs-0.1-0.9-2.1-1.52.0-2.5
 Real unit labour costs - non-farm0.2-0.3-2.3-1.21.7-2.1
Prices
 GDP implicit price deflator1.6-0.23.63.20.26.8
 Domestic final demand implicit price deflator0.71.11.51.61.86.2
 Terms of trade0.7-5.98.24.8-6.6-0.3

- 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 2020-21.
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.

Key national accounts aggregates, levels
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22
Chain volume GDP and related measures (a)
 GDP ($m)521 934541 870544 242548 995552 547
 GDP per capita (b) ($)20 28621 00521 02721 16021 239
 Gross value added market sector (c) ($m)354 700367 726369 616374 453378 668
 Net domestic product ($m)430 313449 737451 573455 766458 759
Real income measures (a)
 Real gross domestic income ($m)534 197546 711558 715570 638565 204
 Real gross national income ($m)518 390528 796534 999544 886533 948
 Real net national disposable income ($m)426 049435 877441 605450 958439 891
 Real net national disposable income per capita (b) ($)16 56016 89617 06217 38116 909
Current price measures
 GDP ($m)545 081564 565587 494611 487616 437
 GDP per capita (b) ($)21 18621 88522 69823 56923 695
 Gross national income ($m)529 001546 977564 637585 428583 843
 National net saving ($m)49 35043 78045 99154 07641 130
 Household saving ratio19.412.911.28.36.9
Prices
 Terms of trade (index) (d)110.8104.3112.9118.3110.4

- nil or rounded to zero
a. Reference year for chain volume measures and real income measures is 2020-21.
b. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
c. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
d. Reference year for indexes is 2020-21 = 100.0.

Key national accounts aggregates, revisions to percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22
Chain volume GDP and related measures (b)
 GDP-0.1-0.1-0.3-
 GDP per capita (c)-0.1-0.1-0.40.1
 Gross value added market sector (d)-0.1-0.1-0.3-
 Net domestic product-0.2-0.1-0.3-0.1
Real income measures (b)
 Real gross domestic income-0.3-0.1-0.2-0.2
 Real gross national income---0.4-0.5
 Real net national disposable income-0.1-0.1-0.6-0.6
 Real net national disposable income per capita (c)-0.1-0.1-0.6-0.4
Current price measures
 GDP-0.1---0.2
 Household saving ratio (e)-0.4-0.60.1-0.4
Productivity
 Hours worked1.6-2.00.40.9
 Hours worked market sector (d)1.6-2.41.00.6
 GDP per hour worked-1.81.9-0.8-0.9
 Gross value added per hour worked market sector (d)-1.82.2-1.3-0.6
 Real unit labour costs-0.10.10.1
 Real unit labour costs - non-farm-0.10.20.2-
Prices
 Terms of trade0.1-0.80.70.2

- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2020-21.
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.

Analytical expenditure aggregates

Analytical expenditure aggregates, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22Contribution to growth, Jun 22 to Sep 22
Final consumption expenditure
 General government3.51.22.7-0.60.13.3-
 Households-4.96.41.82.11.111.80.6
  Goods-2.85.31.3-0.60.36.40.1
  Services-6.37.12.13.91.715.40.5
  Essential-0.71.20.30.80.63.10.2
  Discretionary-11.515.14.03.91.826.50.4
Gross fixed capital formation
 Private1.3-0.30.1-0.90.8-0.30.1
  Mining3.44.7-2.6-3.31.3-0.2-
  Non-mining1.3-1.02.01.52.95.50.2
  Total private business investment1.80.40.80.32.54.10.3
 Public-2.7-1.92.15.3-3.41.9-0.2
Final demand
 Public2.40.72.60.4-0.63.1-0.2
 Private-3.34.51.41.31.08.50.7

- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.

Analytical expenditure aggregates, revisions to percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22
Final consumption expenditure
 General government0.10.20.10.2
 Households-0.2-0.1-0.4-0.1
  Goods0.5-1.10.3-0.5
  Services-0.60.5-0.90.3
  Essential0.1-0.90.3-0.2
  Discretionary-0.30.5-1.8-
Gross fixed capital formation
 Private0.30.1-0.20.6
  Mining4.72.31.92.7
  Non-mining-0.2-1.0-0.80.7
  Total private business investment1.0-0.2-0.21.1
 Public-0.60.20.1-0.6
Final demand
 Public0.10.30.1-0.1
 Private--0.2-0.30.1

- nil or rounded to zero
a. Change on preceding quarter.

Expenditure aggregates

Expenditure aggregates, contributions to growth
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22
Final consumption expenditure
 General government0.80.30.6-0.1-
 Households-2.53.10.91.10.6
Gross fixed capital formation
 Private0.2-0.1--0.20.1
 Public-0.1-0.10.10.3-0.2
Domestic final demand-1.63.31.61.00.6
Changes in inventories-1.01.10.8-1.00.2
Exports of goods and services0.1--0.21.10.6
Imports of goods and services0.7-0.2-2.0-0.3-0.8
Statistical discrepancy (E)-0.1-0.20.20.10.1
Gross domestic product-1.93.80.40.90.6

- nil or rounded to zero

Expenditure on GDP

Expenditure on GDP, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22Contribution to growth, Jun 22 to Sep 22
Final consumption expenditure
 General government3.51.22.7-0.60.13.3-
 Households-4.96.41.82.11.111.80.6
 Total final consumption expenditure-2.34.72.11.20.89.10.6
Private gross fixed capital formation
 Dwellings--1.4-0.5-3.11.0-3.90.1
 Ownership transfer costs1.9-1.1-2.5-2.1-11.2-16.2-0.2
 Non-dwelling construction5.61.2-1.1-3.18.65.20.4
 Machinery and equipment-0.6-1.33.45.1-2.74.4-0.1
 Cultivated biological resources-16.912.41.20.91.616.7-
 Intellectual property products0.10.70.4-1.00.0--
 Total private gross fixed capital formation1.3-0.30.1-0.90.8-0.30.1
Public gross fixed capital formation
 Public corporations-2.41.51.32.92.78.7-
 General government-2.8-2.92.36.0-5.0--0.2
 Total public gross fixed capital formation-2.7-1.92.15.3-3.41.9-0.2
Total gross fixed capital formation0.4-0.60.50.5-0.20.2-
Domestic final demand-1.73.41.71.00.66.90.6
Changes in inventories. .. .. .. .. .. .0.2
Exports of goods and services0.6-0.2-0.95.32.76.80.6
Imports of goods and services-4.11.311.51.43.919.1-0.8
Statistical discrepancy (E). .. .. .. .. .. .0.1
Gross domestic product-1.93.80.40.90.65.90.6

. . not applicable
- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.

Expenditure on GDP, revisions to percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22
Final consumption expenditure
 General government0.10.20.10.2
 Households-0.2-0.1-0.4-0.1
 Total final consumption expenditure0.1-0.1-0.2-0.1
Private gross fixed capital formation
 Dwellings-0.80.6--0.2
 Ownership transfer costs-0.60.4-0.20.3
 Non-dwelling construction2.20.3-1.9
 Machinery and equipment0.6-0.4-0.11.1
 Cultivated biological resources0.51.9-0.2
 Intellectual property products-1.0-1.3-1.0-0.5
 Total private gross fixed capital formation0.30.1-0.20.6
Public gross fixed capital formation
 Public corporations-0.9-0.40.3-2.4
 General government-0.50.3--0.1
 Total public gross fixed capital formation -0.60.20.1-0.6
Total gross fixed capital formation0.10.2-0.20.3
Domestic final demand--0.1-0.2-
Gross national expenditure-0.1-0.40.2
Exports of goods and services-0.90.9-0.1-0.2
Imports of goods and services-1.70.70.20.7
Gross domestic product-0.1-0.1-0.3-

- nil or rounded to zero
a. Change on preceding quarter.

Household final consumption expenditure

Household final consumption expenditure, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22Contribution to growth, Jun 22 to Sep 22
Food6.5-2.8-2.1-0.7-0.8-6.2-0.1
Cigarettes and tobacco-0.7-3.7-3.2-3.6-2.5-12.3-
Alcoholic beverages8.0-1.5-2.22.5-0.4-1.7-
Clothing and footwear-21.741.53.84.23.057.60.1
Rent and other dwelling services0.40.40.50.50.51.90.1
Electricity, gas and other fuel-0.6-2.0-2.3-1.5-3.3-8.8-0.1
Furnishings and household equipment-4.27.80.0-0.9-1.55.2-0.1
Health-7.58.4-1.93.21.711.70.1
Purchase of vehicles-8.9-2.712.8-4.410.115.50.2
Operation of vehicles-12.613.40.63.03.521.70.2
Transport services-42.655.164.837.313.9299.80.3
Communications1.40.91.51.1-0.33.3-
Recreation and culture-12.217.45.83.8-1.127.6-0.1
Education services-0.7-0.40.10.61.0-
Hotels, cafes and restaurants-20.525.86.58.05.552.50.4
Insurance and other financial services-0.20.20.40.20.31.1-
Other goods and services-6.18.01.72.91.414.50.1
Total-4.96.41.82.11.111.81.1

- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.

Industry gross value added

Industry gross value added, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22Contribution to growth, Jun 22 to Sep 22
Agriculture, Forestry and Fishing13.56.7-9.43.7-0.4-0.1-
Mining1.7-0.7-1.60.31.2-0.70.1
Manufacturing-1.92.00.8-0.8-1.30.7-0.1
Electricity, Gas, Water and Waste Services0.2-1.31.74.00.44.8-
Construction-1.83.20.90.42.36.80.2
Wholesale Trade-5.84.63.6-2.11.37.50.1
Retail Trade-3.16.80.60.10.68.3-
Accommodation and Food Services-24.923.83.711.23.447.60.1
Transport, Postal and Warehousing-1.73.13.45.73.516.60.2
Information Media and Telecommunications0.96.62.61.61.112.3-
Financial and Insurance Services0.50.8-0.40.80.31.5-
Rental, Hiring and Real Estate Services-0.21.7-1.30.6-0.60.3-
Professional, Scientific and Technical Services-0.44.83.01.11.610.80.1
Administrative and Support Services-1.55.00.81.23.310.60.1
Public Administration and Safety0.41.3--0.6-0.20.5-
Education and Training0.30.30.30.30.41.3-
Health Care and Social Assistance-2.25.8-0.82.3-0.27.1-
Arts and Recreation Services-6.09.14.54.4-0.318.7-
Other Services-13.618.3-0.41.9-0.719.3-
Ownership of dwellings0.50.50.50.50.51.9-
Gross value added at basic prices-1.23.20.41.20.85.70.8
Taxes less subsidies on products-9.37.22.0-0.1-0.88.4-
Statistical discrepancy (P). ..  ..  ..  ..  .. .-0.1
Gross domestic product-1.93.80.40.90.65.90.6

. . not applicable
- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.

Industry value added, revisions to percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22
Agriculture, Forestry and Fishing5.3-1.2-3.02.1
Mining-0.6-0.30.1
Manufacturing-0.4-0.1-0.20.3
Electricity, Gas, Water and Waste Services-0.5-0.1--0.1
Construction-1.00.40.20.8
Wholesale Trade-0.20.10.1
Retail Trade0.4-0.2-0.2-0.3
Accommodation and Food Services-0.1-0.1-0.10.5
Transport, Postal and Warehousing0.6-0.3-0.8-1.8
Information Media and Telecommunications-0.82.4-
Financial and Insurance Services0.1-0.6-0.3-0.1
Rental, Hiring and Real Estate Services--0.2--0.4
Professional, Scientific and Technical Services-0.7-0.2-0.6-0.2
Administrative and Support Services-0.4-0.3-0.3-1.6
Public Administration and Safety-0.4-0.3-0.2-0.1
Education and Training-0.1-0.1-0.1-0.1
Health Care and Social Assistance--0.1-0.1-0.2
Arts and Recreation Services-0.2-0.10.9
Other Services-0.60.1-
Ownership of dwellings---0.1
Gross value added at basic prices-0.1-0.1-0.2-
Taxes less subsidies on products--1.5-0.4-
Gross domestic product-0.1-0.1-0.3-

- nil or rounded to zero
a. Change on preceding quarter.

Income from GDP

Income estimates are in seasonally adjusted current prices

Income from GDP, percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22Jun 22 to Sep 22Through the year, Sep 21 to Sep 22Contribution to growth, Jun 22 to Sep 22
Compensation of employees
 Wages and salaries0.11.92.02.53.09.81.2
 Employers' social contributions (b)2.61.92.02.25.011.50.2
 Total compensation of employees0.41.92.02.53.210.01.4
Gross operating surplus
 Non-financial corporations
  Private non-financial corporations4.61.49.411.4-4.717.8-1.2
  Public non-financial corporations-1.7-3.23.311.8-8.62.1-0.1
  Total non-financial corporations4.41.39.111.4-4.917.2-1.2
 Financial corporations0.30.1-2.64.97.70.2
 Total corporations3.71.17.610.1-3.515.6-1.0
 General government2.81.81.61.41.16.0-
 Dwellings owned by persons0.80.61.71.41.65.40.1
 Total gross operating surplus3.01.06.18.0-2.313.0-0.9
Gross mixed income8.33.7-3.23.0-1.71.7-0.1
Total factor income2.21.73.24.80.410.40.4
Taxes less subsidies on production and imports-27.030.015.4-3.64.350.80.4
Statistical discrepancy (I). ..  ..  ..  ..  .. .-
Gross domestic product-0.43.64.14.10.813.10.8

. . not applicable
- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.
b. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

Income from GDP, revisions to percentage changes (a)
 Jun 21 to Sep 21Sep 21 to Dec 21Dec 21 to Mar 22Mar 22 to Jun 22
Compensation of employees
 Wages and salaries-0.20.1--
 Employers' social contributions (b)-0.40.20.20.1
 Total compensation of employees-0.20.10.10.1
Gross operating surplus
 Non-financial corporations
  Private non-financial corporations-0.1-0.1-0.2
  Public non-financial corporations0.3-0.2-0.51.0
  Total non-financial corporations---0.10.2
 Financial corporations-1.2-1.2-1.0-1.0
 Total corporations-0.2-0.2-0.30.1
 General government1.81.00.80.6
 Dwellings owned by persons-0.30.1-0.2
 Total gross operating surplus-0.2-0.1-0.20.1
Gross mixed income-0.50.60.2-1.7
Total factor income-0.2---0.1
Taxes less subsidies on production and imports-0.6-0.90.1-0.6
Gross domestic product-0.1---0.2

- nil or rounded to zero
a. Change on preceding quarter.
b. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

State final demand

State and territory final demand, percentage changes (a)
  Jun 22 to Sep 22
 NSWVic.QldSAWATas.NTACTAust.(b)
Final consumption expenditure
 General government1.1-1.40.9-2.20.20.43.7-0.40.1
 Households0.91.30.61.52.01.11.21.81.1
Gross fixed capital formation
 Private0.70.22.40.6-1.74.73.2-5.80.8
 Public-1.7-6.8-5.1-6.90.54.84.76.2-3.4
State final demand0.70.00.70.10.61.62.70.20.6

- nil or rounded to zero (including null cells)
a. Change on preceding quarter
b. Australia estimates relate to Domestic final demand.

Revisions and changes

Revisions in this issue

The estimates in this issue incorporate the 2020-21 annual supply and use tables. The supply and use tables incorporate revisions reflecting changes in methods, concepts, classifications and data sources. For more information on the role of supply and use tables in the national accounts and the major revisions, please see the Revisions and changes section in Australian System of National Accounts, 2021-22 (cat. no. 5204.0).

This issue also includes the following changes:

  • the impact of re-referencing chain volume (CVM) estimates to the 2020-21 financial year. This in isolation will only affect levels of CVM estimates, generally leaving growth rates unchanged. Re-referencing can have an impact on CVM GDP growth (and other estimates) for the latest financial year (2021–22) if there are significant relative price changes between 2019-20 and 2020-21.

Food consumption estimates using supermarket scanner data

As previously advised, the ABS has introduced scanner data based estimates of household final consumption expenditure on food in this release. 

A datacube with estimates of food expenditure compiled using supermarket scanner data has been included in the Data downloads section. Please note that these estimates do not match the food estimates from Table 8. Household Final Consumption Expenditure (HFCE), as the scanner data based series has been spliced onto existing Retail Trade based estimates from September quarter 2021 onwards.

For further information on this change, see Improved measurement of household consumption of food in the national accounts.

Suspension of trend estimates

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.

Extraordinary Annual Seasonal Review (EASR)

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.

Changes to publication tables

This issue of Australian National Accounts: National Income, Expenditure and Product contains changes to publication tables 24. Selected Analytical Series and 34. Key Aggregates and Analytical Series, Annual. Compensation of employees per hour series have been added to these tables to provide further insights into labour costs.

If you require further information on these changes, please contact national.accounts@abs.gov.au.

Data downloads

This issue of Australian National Accounts: National Income, Expenditure and Product includes changes to publication tables 24. Selected Analytical Series and 34. Key Aggregates and Analytical Series, Annual. For further information regarding these changes, see the Revisions and changes section above.

Download all (9.67 MB)

Time series spreadsheets

Data files

Data cubes

HFCE Food Estimates, current price and volume, COICOP Group, SUPC and IOPC, Original

Data files
Download xlsx [86.79 KB]

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The 2021-22 issue of Australian National Accounts: Distribution of Household Income, Consumption and Wealth will be released on 13 December 2022. This publication contains results that integrate ABS micro and macro data to produce distributional information on household income, consumption and wealth, consistent with the Australian System of National Accounts concepts and aggregates.

Australian National Accounts: Finance and Wealth (cat. no. 5232.0)

The September quarter 2022 issue of Australian National Accounts: Finance and Wealth will be released on 15 December 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.

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Australian System of National Accounts (cat. no. 5204.0)

The 2021-22 issue of the Australian System of National Accounts was released on 28 October 2022. 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, sectoral accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry.

Australian National Accounts: Supply Use Tables (cat. no. 5217.0)

The 2020-21 issue of the Australian National Accounts: Supply Use Tables was released on 28 October 2022. 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.

Estimates of Industry Level KLEMS Multifactor Productivity (cat. no. 5260.0.55.004)

The 2020-21 issue of Estimates of Industry Level KLEMS Multifactor Productivity was released on 15 November 2022. Since 2016, the ABS has published estimates of industry level KLEMS MFP for the 16 market sector industries. The term KLEMS represents the five input categories - Capital (K), Labour (L), Energy (E), Materials (M) and Services (S). By explicitly identifying the role of intermediate inputs in the production process, KLEMS facilitates a more rigorous analysis of the determinants of output growth at the industry level.

Australian National Accounts: State Accounts (cat. no. 5220.0)

The 2021-22 issue of the Australian National Accounts: State Accounts was released on 18 November 2022. This publication contains state and territory estimates of gross domestic product (referred to as gross state product (GSP)) and its components, in current price and chain volume terms, from 1989-90 onwards. Gross state product is estimated using the expenditure, income, and production approaches. The estimates in this publication are consistent with those published for Australia in the Australian System of National Accounts.

Monthly Household Spending Indicator, October 2022

The October 2022 issue of the Monthly Household Spending Indicator was released on 6 December 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.

Previous catalogue number

This release previously used catalogue number 5206.0.
 

Methodology

Australian National Accounts: National Income, Expenditure and Product methodology, September 2022

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