5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2009  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/03/2010   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product
MEDIA RELEASE
March 3, 2010
Embargo: 11.30 am (CANBERRA TIME) 03/03/2010
22/2010

Australian economy continues to grow: ABS

Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 0.9% in the December quarter 2009, after growing 0.3% in the September quarter.

Growth in the expenditure measure of GDP was driven by a 3.5% increase in private investment , a 10.2% increase in public investment and a 0.7% increase in household expenditure. Offsetting these increases was a fall in net exports. The fall in net exports was due to imports (up 7.7%) growing faster than exports (up 1.7%).

The industries that provided the main contribution to growth in the production measure of GDP in the December quarter were manufacturing with a 5.1% increase in seasonally adjusted volume terms and wholesale trade with a 3.6% increase in seasonally adjusted volume terms.

Further details can be found in Australian National Accounts: National Income, expenditure and Product (cat. no. 5206.0) available for free download on the ABS website at www.abs.gov.au

Media Note: When reporting ABS data the Australian Bureau of Statistics (or ABS) must be attributed as the source