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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES

			Trend				Seasonally adjusted
			% change Mar 07 to Jun 07	% change Jun 06 to Jun 07	% points contribution to growth in GDP Mar 07 to Jun 07		% change Mar 07 to Jun 07	% change Jun 06 to Jun 07	% points contribution to growth in GDP Mar 07 to Jun 07
Final consumption expenditure
	General government		0.3	1.7	-		0.5	1.9	0.1
	Households		1.0	4.2	0.6		0.6	3.9	0.3
Gross fixed capital formation
	Private
		Dwellings	0.6	5.5	-		-0.2	3.7	-
		Business investment	np	np	np		4.5	14.3	0.7
		Ownership transfer costs	7.3	5.9	0.1		10.8	4.0	0.2
	Public		np	np	np		15.4	16.5	0.6
Changes in inventories
	Private non-farm		. .	. .	0.2		. .	. .	-0.5
	Farm and public authority		. .	. .	-		. .	. .	0.1
Gross national expenditure			1.8	6.3	1.9		1.4	6.5	1.5
Exports of goods and services			0.8	3.1	0.1		0.8	2.4	0.1
Imports of goods and services			2.6	11.7	-0.6		1.1	9.6	-0.3
Statistical discrepancy (E)			. .	. .	-0.1		. .	. .	-0.4
Gross domestic product			1.2	4.4	1.2		0.9	4.3	0.9
. . not applicable
- nil or rounded to zero (including null cells)
np not available for publication but included in totals where applicable, unless otherwise indicated

JUNE QUARTER

Summary Comments

Final Consumption Expenditure

• Household final consumption expenditure grew by 1.0% in trend terms (0.6% seasonally adjusted). The main contributors to growth were Rent and other dwelling services and Recreation and Culture.

• Private business investment increased 4.5% in seasonally adjusted terms. The seasonally adjusted increase was due to investment in New machinery and equipment (up 5.9%), New engineering construction (up 6.6%), and Total intangible fixed assets (up 8.1%). Dwelling investment fell -0.2% seasonally adjusted, driven by a fall of -0.7% in New and used dwellings which was only partially offset by a 0.3% rise in Alterations and additions.

• Total inventories increased by $1,658m in trend terms, which followed an increase of $1,199m in the March quarter. In seasonally adjusted terms, total inventories increased by $932m following a $1,956m increase in the previous quarter. As a result, Changes in inventories detracted 0.4 percentage points from seasonally adjusted GDP growth during the quarter.

• In trend and seasonally adjusted terms, Exports of goods and services increased 0.8%. In seasonally adjusted terms, Exports of goods rose 0.9%, driven by a 21.0% rise in Non-monetary gold offsetting falls in Rural exports.
• Imports of goods and services increased by 2.6% in trend terms (1.1% seasonally adjusted). Seasonally adjusted Imports of goods increased by 0.5%, with growth in Capital goods (up 3.0%) offsetting falls in Consumption goods (down -0.9%) and Intermediate and other merchandise goods (down -0.8%).