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 2021
Released
1/12/2021
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Key statistics

  • The Australian economy fell 1.9% in seasonally adjusted chain volume measures
  • In nominal terms, GDP fell 0.6%
  • The terms of trade rose 0.4%
  • Household saving ratio increased to 19.8% from 11.8%

Articles

This quarter's National Accounts includes the following articles:

Economic overview

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.

September key figures, percentage changes (a)

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Sep 20 to Sep 21
Chain volume GDP and related measures (b)
 GDP3.43.31.80.7-1.93.9
 GDP per capita (c)3.53.21.90.5-2.03.5
 Gross value added market sector (d)3.33.61.91.1-1.94.7
 Real net national disposable income5.05.63.52.5-3.87.8
Productivity
 GDP per hour worked-2.1-0.40.2-1.73.71.7
 Real unit labour costs-1.26.50.3-0.16.9
Prices
 GDP chain price index (original)-0.51.43.13.40.58.6
 Terms of trade1.25.28.27.70.423.1
Current price measures
 GDP4.24.53.73.3-0.611.2
 Household saving ratio20.314.213.711.819.8na

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.

Australian economy contracted 1.9% in the September quarter 2021

Gross Domestic Product (GDP) fell 1.9% this quarter reflecting reduced activity due to extended lockdowns across NSW, Victoria and the ACT. This fall followed four consecutive rises since the 6.8% fall recorded in June quarter 2020 when the entire country was in lockdown. GDP in the September quarter 2021 was 0.2% below December 2019 pre-pandemic levels.

Private demand drives the decline in economic activity

Private demand detracted 2.4 percentage points from GDP growth, driven by a fall in household final consumption expenditure. Public demand partly offset the decline, contributing 0.7 percentage points to growth, as Commonwealth and state governments responded to the COVID-19 Delta variant outbreaks with increased health related spending.

a. Contributions may not be additive due to rounding.

Household spending on services declines amid lockdown restrictions

Household spending fell 4.8% this quarter in contrast to the steep decline of 12.1% recorded through the national lockdown in June quarter 2020.

Spending on services fell 5.8%. Hotels, cafes and restaurants (-21.2%), recreation and culture (-11.8%) and transport services (-40.8%) experienced significant declines, affected by trading and movement restrictions. 

Jurisdictions under extended lockdowns record falls in state final demand

NSW, Victoria and the ACT spent more than half the quarter under lockdown restrictions, constraining household spending on goods and services. Household spending in these states fell 8.4% compared to a 0.7% rise for the rest of Australia. The falls were tempered by rises in public consumption as governments introduced and accelerated measures to contain the spread of the COVID-19 Delta variant.

Net trade contributes 1.0 percentage point to GDP

Both exports (+1.2%) and imports (-4.0%) contributed to growth this quarter.

Exports of mining and rural commodities rose, reflecting global demand for coal, LNG and meat products. Imports of goods fell, reflecting continued global supply constraints and a fall in domestic demand.

Services industries drive decline in gross value added

Gross value added declined 1.4%. The most significant falls were recorded in hospitality, tourism and other service-related industries as lockdown restrictions were reintroduced.

Activity in 8 of the 19 industries remained below pre-pandemic levels.

Growth in compensation of employees supported by the public sector's COVID-19 response

COE rose 0.5%. Public COE rose 3.3%, the fastest rate since June quarter 2010, reflecting an increase in the provision of government services to manage the COVID-19 outbreak. Private COE fell 0.3%, a significantly smaller decline than that experienced during the national lockdown in June quarter 2020.

The superannuation guarantee rate increased from 9.5% to 10.0% on 1 July 2021. Employers' social contributions added 0.3 percentage points to growth in COE, the largest contribution since December 2006.

Household saving ratio increases sharply as incomes are supported by government assistance

The household saving ratio jumped from 11.8 per cent to 19.8 per cent in September quarter 2021 but remained below the peak of 23.6 per cent in June quarter 2020.

The rise in household saving was driven by increased household income coupled with a decline in spending. Household gross disposable income rose 4.6 per cent, the fastest rise since December quarter 2008. Government support payments to households and unincorporated businesses affected by COVID-19, along with increased dividend payments, contributed to the increase in household income.

Operating surplus rises across both Mining and non-Mining industries

Gross operating surplus plus gross mixed income (GOSMI) rose 4.2%, driven by the Mining industry. Mining operating surplus rose 9.5% in the quarter and 52.4% through the year, reflecting higher commodity prices.

Non-Mining GOSMI also recorded a rise, reflecting subsidies paid to businesses affected by COVID-19 related restrictions.

Expenditure

 % Change% Change% points contribution to growth in GDP
Jun 21 to Sep 21Sep 20 to Sep 21Jun 21 to Sep 21
Final consumption expenditure   
 General government3.65.80.8
 Households-4.81.8-2.5
 Total final consumption expenditure-2.43.0-1.8
Gross fixed capital formation   
 Private   
  Dwellings0.111.4-
  Ownership transfer costs3.141.10.1
  Non-dwelling construction3.92.70.2
  Machinery and equipment-2.921.0-0.1
  Cultivated biological resources-7.6-4.7-
  Intellectual property products1.29.5-
 Public-1.711.7-0.1
 Total gross fixed capital formation0.212.6-
Changes in inventoriesnana-1.3
Gross national expenditure-3.14.4-3.1
Exports of goods and services1.23.30.2
Imports of goods and services-4.05.80.8
Statistical discrepancy (E)nana0.1
Gross domestic product-1.93.9-1.9

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

Final consumption expenditure (FCE) -2.4%

Household FCE fell 4.8%, driven by a:

  • 21.2% fall in hotels, cafes and restaurants
  • 11.8% fall in recreation and culture
  • 22.0% fall in clothing and footwear
  • 13.1% fall in operation of vehicles
  • 7.1% fall in health

The decrease was partly offset by a:

  • 5.2% rise in food
  • 7.4% rise in alcoholic beverages

General government FCE rose 3.6%, driven by a:

  • 3.5% rise in state and local
  • 3.4% rise in national non-defence
  • 5.2% rise in national defence

Gross fixed capital formation (GFCF) 0.2%

Private investment increased 0.8%, driven by a:

  • 3.9% increase in non-dwelling construction
  • 3.1% increase in ownership transfer costs
  • 1.2% increase in intellectual property products

Public investment decreased 1.7%, driven by a:

  • 7.9% decrease in state and local general government

The decrease was partly offset by a:

  • 27.9% increase in national non-defence
  • 16.3% increase in national defence

Changes in inventories

Total inventories fell $3,532m following a rise of $3,313m in the June quarter. The largest contributors to the fall were a:

  • $2,829m fall in wholesale trade
  • $590m fall in manufacturing
  • $483m fall in public authorities

The fall was partly offset by a:

  • $290m rise in retail trade
  • $202m rise in farm

Exports and imports of goods and services

Imports of goods and services fell 4.0%, driven by a:

  • 17.9% fall in non-industrial transport equipment
  • 6.4% fall in consumption goods nes
  • 30.1% fall in non-monetary gold
  • 6.4% fall in other services
  • 8.5% fall in textile clothing and footwear

The fall was partly offset by a:

  • 18.7% rise in automated data processing equipment
  • 46.3% rise in civil aircraft and confidential items
  • 2.5% rise in processed industrial supplies nes

Exports of goods and services rose 1.2%, driven by a:

  • 7.6% rise in other mineral fuels
  • 3.1% rise in mineral ores
  • 10.4% rise in other rural

The fall was partly offset by a:

  • 20.3% fall in travel services
  • 8.5% fall in metals and manufacturing
  • 6.1% fall in cereals

Income

Income estimates are in seasonally adjusted current prices

 % Change% Change% points contribution to growth in GDP
Jun 21 to Sep 21Sep 20 to Sep 21Jun 21 to Sep 21
Compensation of employees0.54.70.2
Gross operating surplus   
 Private non-financial corporations4.7-1.0
 Other(a)1.24.90.2
Gross mixed income8.0-4.50.6
Taxes less subsidies on production and imports-27.6901.7-2.6
Statistical discrepancy (I)nana-0.1
Gross domestic product-0.611.2-0.6

- 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) 0.5%

Compensation of employees rose 0.5%, public sector COE rose 3.3% while private COE fell 0.3%. Employers' social contributions rose 2.9% reflecting the rise in minimum superannuation guarantee from 9.5% to 10.0% which came in effect from 1 July 2021. Wages and salaries rose 0.3%. 

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

  • 4.3% rise in NT
  • 3.2% rise in WA

Partly offset by a:

  • 3.6% fall in ACT
  • 1.1% fall in NSW

Gross operating surplus (GOS) 3.3%

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

  • rise in Mining reflecting a significant increase in LNG and coal prices
  • rise in Manufacturing reflecting an increase in prices for beef and primary metals
  • rise in Construction and Accommodation and Food Services reflecting an increase in subsidies received from government. Subsidy payments not utilised to cover labour costs or operating expenses were retained in profits

Partly offset by a:

  • a decline in Retail Trade as motor vehicle and fuel retailing fell

Other sectors GOS rose 1.2%, driven by a:

  • 1.3% rise in financial corporations
  • 0.8% rise in dwellings owned by persons
  • 4.9% rise in public non-financial corporations

Taxes less subsidies on production and imports -27.6%

Taxes less subsidies on production and imports fell 27.6%, reflecting a large rise in subsidies on production and imports (105.6%). The introduction of various state and local subsidies to support businesses during COVID-19 related trading restrictions drove the rise. Taxes on production and imports fell 6.3% driven by GST, taxes on international trade and gambling tax.

Production

 % Change% Change% points contribution to growth in GDP
Jun 21 to Sep 21Sep 20 to Sep 21Jun 21 to Sep 21
Agriculture, Forestry and Fishing1.436.5-
Mining1.70.30.2
Manufacturing-1.13.6-0.1
Electricity, Gas, Water and Waste Services-0.21.0-
Construction-1.15.9-0.1
Wholesale Trade-5.42.1-0.2
Retail Trade-3.4-0.2-0.1
Accommodation and Food Services-26.4-14.4-0.5
Transport, Postal and Warehousing-3.210.2-0.1
Information Media and Telecommunications1.37.2-
Financial and Insurance Services1.32.60.1
Rental, Hiring and Real Estate Services-1.212.9-
Professional, Scientific and Technical Services-0.94.1-0.1
Administrative and Support Services-2.115.0-0.1
Public Administration and Safety0.81.3-
Education and Training0.41.2-
Health Care and Social Assistance-2.13.8-0.2
Arts and Recreation Services-7.55.3-0.1
Other Services-11.82.9-0.2
Ownership of dwellings0.51.8-
Taxes less subsidies on products-8.92.0-0.6
Statistical discrepancy (P)nana-
Gross domestic product-1.93.9-1.9

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

Agriculture, Forestry and Fishing 1.4%

This increase was driven by a:

  • 0.3% rise in Agriculture driven by livestock production.
  • 7.6% rise in Forestry and Fishing driven by cotton ginning activity.

Mining 1.7%

This increase was driven by a:

  • 6.3% rise in Oil and Gas Extraction reflecting strong energy demand mainly from Asia and Europe as they re-build stockpiles for the winter season.
  • 3.4% rise in Coal Mining was driven by strong demand for thermal coal and improved mining operation conditions. 

This was partly offset by a:

  • 4.8% fall in Other Mining driven by planned and unplanned maintenance activities at some large gold and copper mines. 
  • 0.5% fall in Iron Ore Mining due to maintenance activities and increased rainfall affecting mining operations.

Manufacturing -1.1%

This decrease was driven by a: 

  • 5.6% fall in Metal Products driven by both primary and fabricated metal products reflecting reduced production of alumina and aluminium products.
  • 3.0% fall in Other Manufacturing driven by decreased demand for wood, paper and furniture products.
  • 2.1% fall in Petroleum, Coal, Chemical and Rubber Products driven by reduced demand for fuels and lubricants.

This was partly offset by a:

  • 5.5% rise in Food, Beverage and Tobacco Products driven by an increase in meat production reflecting ongoing global demand. 

Electricity, Gas, Water and Waste Services -0.2%

This decrease was driven by a:

  • 2.4% fall in Electricity Supply due to warmer weather conditions and reduced demand from businesses due to lockdown restrictions,
  • 5.8% fall in Gas Supply in line with lower demand due to warmer weather conditions.

This was partly offset by a:

  • 3.1% rise in Water Supply and Waste Services driven by increased metal scrap recycling.

Construction -1.1%

This decrease was driven by a: 

  • 1.7% fall in Building Construction with disruptions to health and infrastructure projects, coupled with material and labour shortages.
  • 0.2% fall in Heavy and Civil Engineering Construction driven by COVID-19 related disruptions to work done on infrastructure, sewerage and drainage and recreation projects.
  • 1.1% fall in Construction Services driven by reduced demand from Building Construction and lockdown restrictions affecting work for tradesmen at residential homes.

Wholesale Trade -5.4%

This decrease was driven by:

  • Basic Material Wholesaling due to decreased demand for petroleum with reduced domestic travel as a result of lockdown restrictions.
  • Machinery & Equipment Wholesaling due to global supply chain disruptions affecting imports of heavy and farm equipment. 
  • Motor Vehicle and Motor Vehicle Parts Wholesaling due to continued semi-conductor shortages and global supply chain disruptions.
  • Grocery, Liquor and Tobacco Wholesaling as COVID-19 restrictions reduced demand for specialised food. 
  • Other Goods Wholesaling due to global supply chain disruptions and lockdown restrictions affecting clothing, jewellery and other goods wholesalers.

Retail Trade -3.4%

This decrease was driven by:

  • Motor Vehicle and Motor Vehicle Parts Retailing due to global supply chain disruptions and government mandated closures of non-essential retailers including car dealerships.
  • Other Store Based Retailing due to lockdown restrictions resulting in temporarty retail store closures and reduced foot traffic for retail and department stores.

This was partly offset by:

  • Food Retailing as households opted for eating at home as opposed to dining out during lockdown restrictions.

Accommodation and Food Services -26.4%

This decrease was driven by:  

  • Accommodation Services due to COVID-19 restrictions and state border closures. The industry remained well below pre-pandemic levels.
  • Food and Beverage Services with venue closures and restrictions on operating capacity.
     

Transport, Postal and Warehousing -3.2%

This decrease was driven by a:

  • 64.6% fall in Air Transport due to COVID-19 restrictions affecting domestic travel. 
  • 3.7% fall in Rail, Pipeline and Other Transport driven by decreased passenger movements partly offset by increased demand for freight services for the mining industry. 
  • 0.4% fall in Transport, Postal and Storage Services due to reduced Transport Support Services in line with weak airport and toll road transport services.

This was partly offset by:

  • 0.5% rise in Road Transport due to increased demand for road freight transport. 

Information Media and Telecommunications 1.3%

This increase was driven by a:

  • 2.8% rise in Telecommunication Services due to increased internet data usage.
  • 0.0% in Other Information and Media Services driven by decreases in Publishing and Motion Picture and Sound Recording Activities, offset by increases in Broadcasting and Internet Service Providers (ISP).
     

Financial and Insurance Services 1.3%

This increase was driven by a:

  • 2.1% rise in Other Financial and Insurance Services driven by a rise in superannuation funds under management due to changes in contribution caps and minimum superannuation guarantee rates. 
  • 1.0% rise in Finance due to increase in household deposit balances reflecting increased household saving. 

Rental, Hiring and Real Estate Services -1.2%

This decrease was driven by a:

  • 3.1% fall in Rental and Hiring Services with reduced demand for car hire and other tourism-related rental services.
  • 0.9% fall in Property Operators and Real Estate Services reflecting weakness in the commercial rental due to the slowdown in economic activity.
     

Professional, Scientific and Technical Services -0.9%

This decrease was driven by a:

  • 2.7% fall in Other Professional, Scientific, and Technical Services. Activity across engineering, consulting, legal and accounting services remained high with through the year growth of 4.4%.

This was partly offset by a:

  • 4.7% rise in Computer System Design and Related Services due to high demand for IT consultants. 

Administrative and Support Services -2.1%

  • Administrative Services fell due to reduced demand for labour hire services as activity declined. Travel agency services fell with reduced domestic travel following state border closures.
  • Building Cleaning, Pest Control and Other Support Services fell with reduced demand for building cleaning and maintenance services.

Health Care and Social Assistance -2.1%

  • Health Care and Social Assistance fell driven by private health due to lockdown restrictions on elective surgery, dental and other allied services.
  • This was partly offset by the public health response to the COVID-19 Delta variant outbreak with increased testing and accelerated vaccination programs. 

Arts and Recreation Services -7.5%

  • Arts and Recreation Services fell due to COVID-19 restrictions on theme parks, theatres and casinos. 
     

Other Services -11.8%

  • The fall was driven by Repair and Maintenance and Personal and Other Services affected by lockdown restrictions

State and territory final demand

 Percentage change from Jun 21 to Sep 21
NSWVic.QldSAWATas.NTACTAust.(a)
Final consumption expenditure         
 General government5.03.42.81.8-0.36.29.15.43.6
 Households-10.8-5.20.30.31.90.90.5-11.1-4.8
Gross fixed capital formation         
 Private-7.15.84.66.5-1.515.72.6-9.70.8
 Public-3.4-5.83.6-4.50.7-1.46.515.6-1.7
State final demand-6.5-1.41.81.40.64.24.0-1.6-1.8

- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.

Quarterly volume measures, seasonally adjusted

The map of shows quarterly volume measures of state final demand by state/territory.
New South Wales' state final demand decreased 6.5% for the quarter.
Victoria's state final demand decreased 1.4% for the quarter.
Queensland's state final demand increased 1.8% for the quarter.
South Australia's state final demand increased 1.4% for the quarter.
Western Australia's state final demand increased 0.6% for the quarter.
Tasmania's state final demand increased 4.2% for the quarter.
Northern Territory's state final demand increased 4.0% for the quarter.
Australian Capital Territory's state final demand decreased 1.6% for the quarter.

New South Wales -6.5%

Total final consumption expenditure decreased 6.6%, driven by a:

  • 10.8% decrease in household consumption, due to the restrictions imposed on households as a result of lockdowns throughout most of the quarter. Spending on recreation and culture and hotels, cafes and restaurants led the falls.

Partly offset by a: 

  • 5.0% increase in government consumption led by a rise in state and local employee expenses on front line services to accelerate the COVID-19 response and vaccine rollout.

Private gross fixed capital formation decreased 7.1%, due to a:

  • 13.9% decrease in machinery and equipment investment reflecting decreased purchases of vehicles and heavy machinery.
  • 10.3% fall in non-dwelling construction due to falls in new-engineering construction and new buildings due to the impacts of lockdowns on construction activity. 
  • 5.0% decrease in total dwellings driven by weakness in both houses and other residential dwellings as a result of lockdowns and their impact on building activity.

Public gross fixed capital formation decreased 3.4%, driven by a:

  • 9.7% decrease in state and local general government reflecting an decrease in investment in health and education buildings due to the impact lockdown restrictions on construction activity. 

Partly offset by a:

  • 16.4% increase in National general government investment due to increases in purchases defence and non-defence infrastructure and assets.
  • 6.6% increase in Commonwealth public non-financial corporations led by on-going investment into utility and transport infrastructure.

 

Victoria -1.4%

Total final consumption expenditure decreased 2.8%, due to a:

  • 5.2% decrease in household final consumption expenditure due to the impacts of on-going lockdowns on hotels, cafes and restaurants, recreation and culture and clothing and footwear. This was partly offset by a rise in food and alcoholic beverages.  

Partly offset by a:

  • 3.4% increase in government consumption due to an increase in both state and local and national expenditure. The increase reflects a rise in expenses on front line services and use of goods and services to accelerate the COVID-19 response and vaccine rollout.

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

  • 21.7% increase in non-dwelling construction led by increased investment in renewable energy projects. 
  • 1.7% increase in machinery and equipment reflecting an increase in truck and agricultural equipment purchases.
  • 2.3% rise in total dwellings led by houses due to strong demand and increased activity supported by high levels of Homebuilder applications. 

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

  • 14.0% decrease in state and local general government investment due to weakness in second-hand assets following the donation of structures in the previous quarter.

Partly offset by:

  • 31.0% increase in national general government due to increased investment into both defence and non-defence infrastructure. 

Queensland 1.8%

Total final consumption expenditure increased 1.0%, driven by a: 

  • 2.8% increase in government expenditure led by increased frontline services including police, fire and emergency services and hospitals due to ongoing border closures and COVID-19 responses. 
  • 0.3% increase in household consumption expenditure driven by higher consumer confidence and minimal impacts on household expenditure due to lockdowns. 

Private gross fixed capital formation increased 4.6%, due to a:

  • 13.0% increase in total non-dwelling construction reflecting increased expenditure on renewable energy projects.
  • 4.6% increase in total dwellings led by increases in houses and alterations and additions aided by the on-going support of the Homebuilder scheme.
  • 11.3% increase in ownership transfer costs reflecting the continued strength in the housing market.

Partly offset by:

  • 4.4% fall in machinery and equipment, following a 5.0% rise in the June quarter. 

Public gross fixed capital formation increased 3.6%, due to a:

  • 22.1% increase in national general government investment due to increased investment in defence and non-defence infrastructure.
  • 9.8% rise in state and local public non-financial corporations reflecting increased investment from the utilities sector. 

Partly offset by a:

  • 31.7% decrease in Commonwealth public non-financial corporations due to weakness observed across multiple industries. 

South Australia 1.4%

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

  • 1.8% increase in government final consumption driven by increased expenditure relating to the COVID-19 vaccine rollout in state run facilities. Increased expenditure on education also contributed to the rise.
  • 0.3% increase in household consumption due to a rise in discretionary spending on clothing and footwear and furnishing and household equipment.

Private gross fixed capital formation increased 6.5%, driven by a:

  • 18.9% rise in machinery and equipment investment from both non-mining and mining businesses.
  • 7.4% increase in non-dwelling construction, reflecting greater investment in new engineering construction.
  • 3.4% increase in ownership transfer costs reflecting the continued strength in the housing market.

Public gross fixed capital formation decreased 4.5%, driven by a:

  • 10.2% fall in state and local general government, reflecting a decrease in structures investment.

Partly offset by a:

  • 18.9% increase in national general government investment due to increased investment into both defence and non-defence infrastructure. 

Western Australia 0.6%

Total final consumption expenditure increased 1.3%, due to a:

  • 1.9% increase in household consumption driven by strength across most goods and services spending reflecting higher consumer sentiment and hosting of major sporting events.

Partly offset by a:

  • 0.3% decrease in government consumption driven by numerous non-frontline service departments. This was partly offset by increased expenditure on the COVID-19 vaccine rollout.

Private gross fixed capital formation decreased 1.5%, due to a:

  • 5.1% decrease in total non-dwelling construction driven by a decline in new-engineering construction.
  • 1.0% decrease in machinery and equipment due to a fall in investment by mining businesses. 
  • 1.5% decrease in total dwellings led by a fall in alterations and additions.

Partly offset by a:

  • 11.6% increase in ownership transfer costs reflecting the on-going strength in both transfers and stamp duty.

Public gross fixed capital formation increased 0.7%, driven by a:

  • 21.2% increase in national general government investment due to increased investment in defence and non-defence infrastructure. 
  • 3.8% increase in state and local general government reflecting on-going work on major road projects. 

Partly offset by a:

  • 9.6% decrease in state and local public non-financial corporations due to delays of work on rail infrastructure.

Tasmania 4.2%

Total final consumption expenditure increased 2.5%, due to a:

  • 0.9% increase in household consumption led by purchases of clothing and footwear and other goods and services reflecting the state's strong consumer confidence.
  • 6.2% increase in government consumption expenditure driven by additional expenditure on the COVID-19 vaccine rollout.

Private gross fixed capital formation increased 15.7%, driven by a:

  • 44.4% increase in total machinery and equipment due to additional expenditure by small businesses on trucks, cars and other equipment. 
  • 6.1% rise in total dwellings led by strength in other residential dwellings, reflecting the commencement of new apartment projects. 
  • 6.5% rise in total non-dwelling construction reflecting increased investment in new engineering construction and new buildings.

Public gross fixed capital formation decreased 1.4%, driven by a:

  • 8.1% fall in state and local general government driven by a decrease in investment on health and education infrastructure.
  • 30.4% fall in Commonwealth public non-financial corporations due to weakness across multiple industries. 

Slightly offset by a:

  • 16.4% increase in national general government due to increased investment into defence and non-defence infrastructure. 

Northern Territory 4.0%

Total final consumption expenditure increased 4.2%, driven by a:

  • 9.1% rise in government final consumption expenditure led by a increase in both employee expenses and use of goods and services by state and local government. The strength reflects expenditure on quarantine facilities and the COVID-19 vaccine rollout. 
  • 0.5% increase in household final consumption expenditure driven by fewer lockdown restrictions and strong intrastate spending. 

Private gross fixed capital formation increased 2.6%, due to a:

  • 26.1% increase in ownership transfer costs reflecting the on-going strength in transfers and stamp duty.
  • 11.5% rise in total machinery and equipment led by additional truck purchases during the quarter.
  • 11.8% increase in intellectual property products driven by a rise in petroleum exploration. 

Partly offset by a:

  • 12.4% decrease in total dwellings led by falls in other residential dwellings and alterations and additions following increased activity in prior quarters. 

Public gross fixed capital formation increased 6.5%, driven by a:

  • 4.4% increase in state and local general government due to increased investment in road projects.
  • 15.8% increase in national general government due to a increased investment into defence and non-defence infrastructure.

Australian Capital Territory -1.6%

Total final consumption expenditure decreased 1.6%, driven by a:

  • 11.1% decrease in household consumption expenditure due to the introduction of strict lockdown measures throughout most of the quarter.

Partly offset by a:

  • 5.4% increase in government consumption expenditure led by an increase in employee expenses due to the rollout of the COVID-19 vaccine and containment of the outbreak.

Private gross fixed capital formation decreased 9.7%, driven by a:

  • 20.4% decrease in total dwellings reflecting falls across houses, other residential dwellings and alterations and additions due to the lockdown restricting building activity.
  • 23.0% decrease in machinery and equipment investment led by a fall in the retail industry due to the closure of non-essential retailing.
  • 9.4% fall in total non-dwelling construction due to constraints on construction activity caused by lockdowns.

Partly offset by a:

  • 56.1% increase in ownership transfer costs reflecting on-going strength in transfers and stamp duty.

Public gross fixed capital formation increased 15.6%, driven by a:

  • 17.3% increase in national general government reflecting greater defence purchases and increased investment into non-defence infrastructure.

Partly offset by a:

  • 8.2% decrease in state and local general government due to a decrease in work done on buildings and structures due to the lockdown.

Key tables

Key national accounts aggregates

  Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Through the year, Sep 20 to Sep 21
Percentage change (a)
Chain volume GDP and related measures (b)
 GDP3.43.31.80.7-1.93.9
 GDP per capita (c)3.53.21.90.5-2.03.5
 Gross value added market sector (d)3.33.61.91.1-1.94.7
 Net domestic product4.13.92.10.7-2.44.2
Real income measures (b)
 Real gross domestic income3.74.43.72.4-1.79.0
 Real gross national income4.14.72.92.3-3.16.8
 Real net national disposable income5.05.63.52.5-3.87.8
 Real net national disposable income per capita (c)5.15.63.52.2-3.87.4
Current price measures
 GDP4.24.53.73.3-0.611.2
Productivity
 Hours worked5.73.71.62.5-5.42.1
 Hours worked market sector (d)6.83.91.82.9-6.81.5
 GDP per hour worked-2.1-0.40.2-1.73.71.7
 Gross value added per hour worked market sector (d)-3.3-0.40.1-1.85.33.1
 Real unit labour costs-1.26.50.30.00.16.9
 Real unit labour costs - non-farm-1.37.10.20.30.37.8
Prices
 GDP implicit price deflator0.81.21.92.51.37.1
 Domestic final demand implicit price deflator-0.40.40.80.72.3
 Terms of trade1.25.28.27.70.423.1
Levels
Chain volume GDP and related measures (b)
 GDP ($m)485 346501 210510 335513 924504 046. .
 GDP per capita (c) ($)18 90019 50319 87419 96619 565. .
 Gross value added market sector (d) ($m)322 561334 055340 458344 291337 761. .
 Net domestic product ($m)396 759412 166420 820423 926413 561. .
Real income measures (b)
 Real gross domestic income ($m)485 236506 807525 565538 102529 075. .
 Real gross national income ($m)482 136504 891519 457531 436514 723. .
 Real net national disposable income ($m)392 992415 132429 516440 099423 546. .
 Real net national disposable income per capita (c) ($)15 30416 15416 72717 09816 440. .
Current price measures
 GDP ($m)486 525508 402527 250544 446541 120. .
 GDP per capita (c) ($)18 94619 78320 53321 15221 004. .
 Gross national income ($m)483 742506 360521 284537 617527 124. .
 National net saving ($m)30 89938 78748 67356 64853 807. .
 Household saving ratio20.314.213.711.819.8. .
Prices
 Terms of trade (index) (e)99.9105.1113.6122.4123.0. .

. . 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.

Revisions to percentage changes (a)

  Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21
Percentage change (a)
Chain volume GDP and related measures (b)
 GDP-0.20.1-0.1-
 GDP per capita (c)-0.10.1-0.10.1
 Gross value added market sector (d)-0.1-0.20.1
 Net domestic product-0.10.1-0.1-
Real income measures (b)
 Real gross domestic income-0.3--0.2
 Real gross national income-0.3--0.3
 Real net national disposable income-0.30.10.10.4
 Real net national disposable income per capita (c)-0.30.2-0.4
Current price measures
 GDP-0.1-0.1
 Household saving ratio (e)1.72.02.12.1
Productivity
 Hours worked1.80.40.80.6
 Hours worked market sector (d)2.10.50.30.6
 GDP per hour worked-1.7-0.3-0.8-0.5
 Gross value added per hour worked market sector (d)-2.0-0.6-0.4-0.5
 Real unit labour costs-0.3-0.2--0.2
 Real unit labour costs - non-farm-0.3-0.1--0.2
Prices
 Terms of trade-0.6-0.2-0.7

- 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.

Analytical expenditure aggregates

Percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Through the year, Sep 20 to Sep 21Contribution to growth, Jun 21 to Sep 21
Final consumption expenditure
 General government1.80.80.01.33.65.80.8
 Households7.54.61.21.0-4.81.8-2.5
  Goods5.32.9-0.70.7-3.3-0.5-0.7
  Services9.25.72.51.3-5.83.4-1.9
  Essential4.61.30.10.7-0.91.3-0.3
  Discretionary13.610.73.01.6-11.32.7-2.3
Gross fixed capital formation  
 Private0.73.76.01.90.812.90.1
  Mining-6.03.41.0-1.3-1.51.6-
  Non-mining-0.62.06.62.21.412.60.1
  Total private business investment-2.12.35.21.30.79.80.1
 Public0.63.81.77.6-1.711.7-0.1
Final demand       
 Public 1.61.40.32.52.56.90.7
 Private 5.74.42.41.3-3.44.5-2.4

- nil or rounded to zero

Revisions to percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21
Final consumption expenditure
 General government-0.20.10.3-
 Households-0.30.1-0.1-0.1
  Goods-0.1-0.1-0.1-0.2
  Services-0.30.2--
  Essential0.1---0.2
  Discretionary-1.00.2-0.4-
Gross fixed capital formation
 Private-0.20.1-0.2-0.1
  Mining-1.2-1.8-1.4-0.7
  Non-mining0.10.90.80.9
  Total private business investment-0.30.10.30.5
 Public0.40.9-1.40.2
Final demand    
 Public -0.3-0.1-
 Private -0.30.1-0.1-

- nil or rounded to zero

Expenditure aggregates

Contributions to growth

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21
Final consumption expenditure
 General government0.40.2-0.30.8
 Households3.82.40.60.6-2.5
Gross fixed capital formation
 Private0.10.61.00.30.1
 Public-0.20.10.4-0.1
Domestic final demand4.43.41.81.6-1.7
Changes in inventories0.9-0.7-0.1-1.3
Exports of goods and services-0.91.00.2-0.70.2
Imports of goods and services-1.0-1.0-0.6-0.20.8
Statistical discrepancy (E)--0.2-0.10.20.1
Gross domestic product3.43.31.80.7-1.9

- nil or rounded to zero

Expenditure on GDP

Percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Through the year, Sep 20 to Sep 21Contribution to growth, Jun 21 to Sep 21
Final consumption expenditure
 General government1.80.80.01.33.65.80.8
 Households7.54.61.21.0-4.81.8-2.5
 Total final consumption expenditure5.83.50.81.1-2.43.0-1.8
Private gross fixed capital formation
 Dwellings1.94.06.40.60.111.4-
 Ownership transfer costs 20.712.610.510.03.141.10.1
 Non-dwelling construction -3.9-2.51.5-0.13.92.70.2
 Machinery and equipment -2.49.511.42.1-2.921.0-0.1
 Cultivated biological resources 6.2-0.13.6-0.4-7.6-4.7-
 Intellectual property products 2.42.42.73.01.29.5-
 Total private gross fixed capital formation 0.73.76.01.90.812.90.1
Public gross fixed capital formation
 Public corporations5.3-1.8-1.12.4-2.4-2.9-
 General government-0.75.52.59.0-1.516.0-0.1
 Total public gross fixed capital formation 0.63.81.77.6-1.711.7-0.1
Total gross fixed capital formation0.73.75.03.20.212.6-
Domestic final demand4.53.51.81.6-1.85.2-1.7
Changes in inventories. .. .. .. .. .. .-1.3
Exports of goods and services-3.84.80.9-3.41.23.30.2
Imports of goods and services5.35.43.41.1-4.05.80.8
Statistical discrepancy (E). .. .. .. .. .. .0.1
Gross domestic product3.43.31.80.7-1.93.9-1.9

. . not applicable
- nil or rounded to zero

Revisions to percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21
Final consumption expenditure
 General government-0.20.10.3-
 Households-0.30.1-0.1-0.1
 Total final consumption expenditure-0.20.1--0.1
Private gross fixed capital formation
 Dwellings0.1--1.1-1.1
 Ownership transfer costs -0.1-0.20.2-
 Non-dwelling construction -1.0-0.41.8
 Machinery and equipment 0.3--0.1-1.3
 Cultivated biological resources 1.9-0.6-0.40.1
 Intellectual property products 0.20.40.40.7
 Total private gross fixed capital formation -0.20.1-0.2-0.1
Public gross fixed capital formation
 Public corporations-2.4-0.70.8-1.0
 General government1.21.4-2.10.6
 Total public gross fixed capital formation 0.40.9-1.40.2
Total gross fixed capital formation-0.2-0.5-
Domestic final demand-0.30.1-0.1-0.1
Gross national expenditure-0.30.2-0.20.1
Exports of goods and services-0.20.50.9-0.2
Imports of goods and services-0.1-0.2--0.4
Gross domestic product-0.20.1-0.1-

- nil or rounded to zero

Household final consumption expenditure

Percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Through the year, Sep 20 to Sep 21Contribution to growth, Jun 21 to Sep 21
Food3.7-1.5-1.6-0.75.21.20.5
Cigarettes and tobacco-1.0-5.9-1.0-1.2-0.4-8.3-
Alcoholic beverages-0.7-1.0-3.9-1.37.41.00.2
Clothing and footwear21.616.1-0.80.7-22.0-9.6-0.8
Rent and other dwelling services0.40.40.40.40.41.80.1
Electricity, gas and other fuel5.9-8.2-3.910.2-0.8-3.5-
Furnishings and household equipment-1.01.3-0.2-0.2-4.6-3.8-0.2
Health25.26.2-0.31.7-7.10.1-0.5
Purchase of vehicles15.632.0-2.77.3-8.725.9-0.2
Operation of vehicles10.312.71.42.0-13.11.3-0.6
Transport services44.027.912.123.5-40.84.8-0.4
Communications1.31.12.20.91.15.4-
Recreation and culture12.79.53.1-0.6-11.8-1.1-1.2
Education services0.81.10.30.50.62.6-
Hotels, cafes and restaurants45.916.814.42.4-21.27.8-1.3
Insurance and other financial services0.71.41.30.61.14.50.1
Other goods and services17.812.42.90.9-6.29.5-0.4
Total7.54.61.21.0-4.81.8-4.8

- nil or rounded to zero

Industry gross value added

Percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Through the year, Sep 20 to Sep 21Contribution to growth, Jun 21 to Sep 21
Agriculture, Forestry and Fishing1.628.22.03.01.436.5-
Mining-2.0-0.6--0.91.70.30.2
Manufacturing4.41.22.70.9-1.13.6-0.1
Electricity, Gas, Water and Waste Services0.50.4-0.91.8-0.21.0-
Construction2.41.14.21.7-1.15.9-0.1
Wholesale Trade6.23.63.40.7-5.42.1-0.2
Retail Trade5.73.5-1.00.8-3.4-0.2-0.1
Accommodation and Food Services41.77.45.52.7-26.4-14.4-0.5
Transport, Postal and Warehousing4.25.84.23.2-3.210.2-0.1
Information Media and Telecommunications4.55.5-1.21.51.37.2-
Financial and Insurance Services0.6-0.50.81.32.60.1
Rental, Hiring and Real Estate Services7.66.65.31.9-1.212.9-
Professional, Scientific and Technical Services2.14.41.3-0.7-0.94.1-0.1
Administrative and Support Services-0.78.82.25.7-2.115.0-0.1
Public Administration and Safety1.40.9-0.60.20.81.3-
Education and Training0.30.20.30.30.41.2-
Health Care and Social Assistance9.83.01.01.9-2.13.8-0.2
Arts and Recreation Services14.17.85.00.6-7.55.3-0.1
Other Services5.88.45.91.7-11.82.9-0.2
Ownership of dwellings0.40.40.40.50.51.8-
Gross value added at basic prices3.22.91.51.0-1.44.0-1.3
Taxes less subsidies on products8.47.64.4-0.3-8.92.0-0.6
Statistical discrepancy (P). ..  ..  ..  ..  .. .-
Gross domestic product3.43.31.80.7-1.93.9-1.9

. . not applicable
- nil or rounded to zero
a. Excludes ownership of dwellings.

Revisions to percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21
Agriculture, Forestry and Fishing-2.4-0.3-2.81.7
Mining0.20.2-0.50.4
Manufacturing0.10.1-0.3-
Electricity, Gas, Water and Waste Services-0.1--0.1-
Construction-0.20.3-0.7
Wholesale Trade1.0-0.5-0.2-0.4
Retail Trade--0.1--
Accommodation and Food Services-0.5-0.2-0.2-0.1
Transport, Postal and Warehousing-0.3-0.2-0.3-0.5
Information Media and Telecommunications-1.1-0.50.7
Financial and Insurance Services-0.4-0.1-
Rental, Hiring and Real Estate Services-0.1-0.1-0.1
Professional, Scientific and Technical Services-0.30.10.1-0.2
Administrative and Support Services-0.3-0.2-0.1-0.5
Public Administration and Safety0.10.10.1-
Education and Training0.1---
Health Care and Social Assistance0.90.3-0.1-0.1
Arts and Recreation Services-0.3-0.1-0.10.2
Other Services-0.2-0.2-0.1-0.3
Ownership of dwellings----
Gross value added at basic prices-0.1-0.10.1
Taxes less subsidies on products1.4-1.1--0.9
Gross domestic product-0.20.1-0.1-

- nil or rounded to zero
a. Excludes ownership of dwellings.

Income from GDP

Seasonally adjusted current prices, percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21Jun 21 to Sep 21Through the year, Sep 20 to Sep 21Contribution to growth, Jun 21 to Sep 21
Compensation of employees
 Wages and salaries2.11.41.51.20.34.50.1
 Employers' social contributions (a)1.91.21.11.02.96.40.1
 Total compensation of employees2.11.41.51.20.54.70.2
Gross operating surplus
 Non-financial corporations
  Private non-financial corporations5.1-8.4-2.46.74.7-1.0
  Public non-financial corporations5.010.7-1.97.04.921.9-
  Total non-financial corporations5.1-7.7-2.46.74.70.71.1
 Financial corporations0.40.90.71.71.34.70.1
 Total corporations4.3-6.3-1.85.84.21.31.1
 General government0.10.50.70.81.03.0-
 Dwellings owned by persons0.10.71.01.20.83.70.1
 Total gross operating surplus3.2-4.6-1.14.63.31.91.2
Gross mixed income8.3-11.0-0.2-0.58.0-4.50.6
Total factor income3.2-2.30.32.42.32.62.1
Taxes less subsidies on production and imports48.6708.462.412.1-27.6901.7-2.6
Statistical discrepancy (I). ..  ..  ..  ..  .. .-0.1
Gross domestic product4.24.53.73.3-0.611.2-0.6

. . not applicable
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

Revisions to percentage changes

 Jun 20 to Sep 20Sep 20 to Dec 20Dec 20 to Mar 21Mar 21 to Jun 21
Compensation of employees
 Wages and salaries-0.2--0.1-0.1
 Employers' social contributions (a)-0.4-0.2-0.1-0.2
 Total compensation of employees-0.2---0.1
Gross operating surplus
 Non-financial corporations
  Private non-financial corporations0.9-0.9-0.10.3
  Public non-financial corporations-1.00.2-2.15.8
  Total non-financial corporations0.8-0.8-0.20.5
 Financial corporations-0.6-0.2-0.30.2
 Total corporations0.6-0.9-0.20.6
 General government-1.4-0.9-0.7-0.6
 Dwellings owned by persons-0.20.40.5
 Total gross operating surplus0.3-0.6-0.10.5
Gross mixed income0.92.40.30.2
Total factor income0.2--0.2
Taxes less subsidies on production and imports-0.810.7--0.6
Gross domestic product-0.1-0.1

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

State final demand

 Percentage change from Jun 21 to Sep 21
NSWVic.QldSAWATas.NTACTAust.(a)
Final consumption expenditure         
 General government5.03.42.81.8-0.36.29.15.43.6
 Households-10.8-5.20.30.31.90.90.5-11.1-4.8
Gross fixed capital formation         
 Private-7.15.84.66.5-1.515.72.6-9.70.8
 Public-3.4-5.83.6-4.50.7-1.46.515.6-1.7
State final demand-6.5-1.41.81.40.64.24.0-1.6-1.8

- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.

Related releases

Estimates of Industry Multifactor Productivity (cat. no. 5260.0.55.002)

The 2020-21 issue of Estimates of Industry Multifactor Productivity will be released on 13 December 2021. It provides updated estimates of multifactor productivity (MFP) for the 16 industries defined to comprise the market sector. Longer time series are produced for 12 selected industries. Also included are productivity growth cycles for market sector industries and selected industries aggregates back to 1998-99 and 1973-74, respectively. The release includes experimental estimates of productivity growth cycles for individual industries, sources of aggregate labour productivity growth and its industry origin. Experimental estimates of state productivity back to 1994-95 are also provided.

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

The September quarter 2021 issue of Australian National Accounts: Finance and Wealth will be released on 16 December 2021. This publication provides quarterly estimates of the financial flows between sectors of the domestic economy and with the rest of the world. This publication also provides estimates of the financial assets and liabilities owned by each sector and various sub-sectors at the end of each quarter. Other key estimates within the publication include the demand for credit by non-financial domestic institutional sectors during the quarter, and their corresponding levels of credit outstanding.

The upcoming quarter will incorporate the derivative data from the Economic and Financial Statistics (EFS) collection. The new derivative data will only impact on the financial accounts and financial balance sheets of the national accounts. The derivative data has no impact on gross domestic product, income or capital accounts estimates published in the suite of national account publications.

The implementation of the EFS data will result in changes to both gross positions and flows of derivatives, and changes to the sectoral distributions. It will also see the introduction of estimates for two new sectors.

  • Private non-financial investment funds, and
  • The household sector (reflecting the use of derivatives by family trusts to hedge interest rates).

A technical note discussing the changes will be released with the publication. 

Published releases

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

The 2020-21 issue of the Australian System of National Accounts was released on 29 October 2021. This publication provides detailed, annual estimates of Australia's national accounts. These include expenditure, income and production estimates of gross domestic product (GDP), productivity estimates, sectorial accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry. The 2020-21 issue incorporated major historical revisions to national accounts estimates.

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

The 2019-20 issue of Australian National Accounts: Supply Use Tables for the period 1994-95 to 2019-20 was published on 29 October 2021. 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.

Australian National Accounts: Input-Output Tables (Product Details) (cat. no. 5215.0.55.001)

The 2018-19 issue of Australian National Accounts: Input-Output Tables was released on 12 November 2021. 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.

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

The 2019-20 issue of Estimates of Industry Level KLEMS Multifactor Productivity was released on 15 November 2021. 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 2020-21 issue of the Australian National Accounts: State Accounts was released on 19 November 2021. This publication provides detailed annual estimates of gross state product (GSP) for all states and territories. These are estimated using the expenditure, income and production approaches. Also published are estimates of household and agricultural incomes.

Revisions and changes

Revisions in this issue

The estimates in this issue incorporate the 2019-20 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, 2020-21 (cat. no. 5204.0).

This issue also includes the following changes:

  • the impact of re-referencing chain volume (CVM) estimates to the 2019-20 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 (2020–21) if there are significant relative price changes between 2018-19 and 2019-20.
  • incorporation of revisions to seasonal adjustment in the balance of payments from improved methodology and seasonal reanalysis. Further information on this change is noted below.

Changes to seasonal adjustment method of current price values of coal, coke and briquettes, metal ores and minerals, and other mineral fuels

Consistent with the September quarter 2021 issue of Balance of Payments and International Investment Position, Australia, independent seasonal adjustment has been applied when calculating the seasonal patterns for the following export commodities:

  • Metal, ores & minerals
  • Coal, coke & briquettes
  • Other mineral fuels

Independent seasonal adjustment derives separate seasonal adjustment factors for the current price and chain volume measure series. Previously for these series, seasonal factors derived from the corresponding chain volume measures were used to seasonally adjust the current price value series.

The change was first applied from the September quarter 2019 onwards in the September quarter 2020 release of Australian National Accounts: National Income, Expenditure and Product. In this release, the change has now been applied from September quarter 2005 onwards.

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.

Experimental food consumption estimates using scanner data

The ABS has been conducting research on developing more comprehensive methods of compiling estimates of food consumption using ‘point of sale’ systems data from supermarkets (for more information, see Enhancing household consumption measures in the National Accounts). A datacube with experimental estimates of household final consumption expenditure on food compiled using supermarket scanner data has been included with the 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.

Data downloads

Changes to Excel file format on the ABS website

In line with updating to more recent technology formats, the ABS will progressively transition to releasing Excel files in the .XLSX format. This means that time series spreadsheets in the suite of National Accounts releases will be progressively upgraded from .XLS files to .XLSX files.

While this change will improve usability, it may also require changes to automated macros or similar programs that users may have in place that call on the current file extension format.

For this product, this change will take effect from the December quarter 2021 release, to be published on 2 March 2022. Previously released data will not change.

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Time series spreadsheets

Data files

Data cubes

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

Data files
Download xlsx [169.72 KB]

Previous catalogue number

This release previously used catalogue number 5206.0.
 

Methodology

Australian National Accounts: National Income, Expenditure and Product methodology, September 2021

Articles

Media releases