5206.0 - Australian National Accounts: National Income, Expenditure and Product, Dec 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 01/03/2017   
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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES

Trend
Seasonally adjusted
% change Sep 16 to Dec 16
% change Dec 15 to Dec 16
% points contributions to growth in GDP Sep 16 to Dec 16
% change Sep 16 to Dec 16
% change Dec 15 to Dec 16
% points contributions to growth in GDP Sep 16 to Dec 16

Final consumption expenditure
General government
0.4
3.5
0.1
-
3.2
-
Households
0.6
2.4
0.3
0.9
2.6
0.5
Gross fixed capital formation
Private
Dwellings
0.1
4.6
-
1.2
5.6
0.1
Ownership transfer costs
-1.0
-5.1
-
1.0
-2.0
-
Non-dwelling construction
-3.3
-18.6
-0.2
2.3
-15.7
0.1
Machinery and equipment
0.6
3.5
-
1.0
2.1
-
Cultivated biological resources
5.0
31.7
-
-1.4
32.2
-
Intellectual property products
1.4
4.9
-
1.5
5.3
-
Public
1.4
10.9
0.1
7.7
11.9
0.3
Changes in inventories
na
na
na
na
na
-0.2
Gross national expenditure
0.4
2.0
0.4
1.0
2.2
1.0
Exports of goods and services
1.3
7.5
0.3
2.2
8.9
0.5
Imports of goods and services
1.7
4.1
-0.3
1.4
3.3
-0.3
Statistical discrepancy (E)
na
na
-0.1
na
na
-0.1
Gross domestic product
0.3
1.9
0.3
1.1
2.4
1.1

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



DECEMBER QUARTER

Summary Comments

Final Consumption Expenditure
  • Household final consumption expenditure increased 0.9% in seasonally adjusted terms. This was driven by a rise in Food (1.2%), Recreation and culture (1.2%) and Insurance and other financial services (1.3%). Government final consumption expenditure was flat in seasonally adjusted terms.

Gross fixed capital formation
  • Gross fixed capital formation increased 2.6% in seasonally adjusted terms. Public investment increased 7.7% during the quarter driven by Defence (34.2%) and Commonwealth public corporations (41.0%). Private investment increased 1.5% with Non-dwelling construction up 2.3%. This was the first rise in Non-dwelling construction since June quarter 2014. Total gross fixed capital formation added 0.6 percentage points to GDP during the quarter.

Changes in inventories
  • Total inventories increased $552m in seasonally adjusted terms following an increase of $1,228m last quarter. This increase was driven by rises in Wholesale trade and Retail trade inventories. A run down in Mining inventories of $717m partially offset the rise. This is the largest decline in Mining inventories since June quarter 2008 and can be attributed to producers taking advantage of high prices for mining commodities during the quarter. The change in inventories detracted 0.2 percentage points from GDP during the quarter.

Exports and imports of goods and services
  • Exports of goods and services increased 2.2% in seasonally adjusted terms. Seasonally adjusted Exports of goods rose 2.6%, with Non-rural exports up 2.6%, Rural exports up 8.3% and Non-monetary gold down 9.4%. Exports of services rose 0.6%.
  • Imports of goods and services rose 1.4% in seasonally adjusted terms. Seasonally adjusted Imports of goods rose 1.2% driven by a rise in Capital goods (8.4%). Offsetting this were falls in Non-monetary gold (-19.3%) and Intermediate goods (-0.5%). Imports of Services were up 2.3%.