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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES

			Trend			Seasonally adjusted
			% change Sep 07 to Dec 07	% change Dec 06 to Dec 07	% points contribution to growth in GDP Sep 07 to Dec 07	% change Sep 07 to Dec 07	% change Dec 06 to Dec 07	% points contribution to growth in GDP Sep 07 to Dec 07
Final consumption expenditure
	General government		1.0	2.7	0.2	1.7	4.0	0.3
	Households		1.3	4.7	0.7	1.6	5.0	0.9
Gross fixed capital formation
	Private
		Dwellings	0.4	0.9	-	2.1	1.6	0.1
		Business investment	np	np	np	0.4	11.9	0.1
		Ownership transfer costs	-1.2	8.4	-	-1.7	10.2	-
	Public		np	np	np	5.5	4.7	0.2
Changes in inventories
	Private non-farm		. .	. .	-0.1	. .	. .	-0.1
	Farm and public authority		. .	. .	-	. .	. .	0.1
Gross national expenditure			1.1	5.7	1.1	1.5	6.2	1.6
Exports of goods and services			0.4	3.0	0.1	-0.6	2.6	-0.1
Imports of goods and services			2.4	10.3	-0.6	3.6	10.3	-0.8
Statistical discrepancy (E)			. .	. .	0.2	. .	. .	-
Gross domestic product			0.8	3.9	0.8	0.6	3.9	0.6
. . not applicable
- nil or rounded to zero (including null cells)
np not available for publication but included in totals where applicable, unless otherwise indicated

DECEMBER QUARTER

Summary Comments

Final Consumption Expenditure

• Household final consumption expenditure grew by 1.3% in trend terms (1.6% seasonally adjusted). The main contributors to growth were Food, Purchase of vehicles and Recreation and culture.

• Private business investment grew 0.4% in seasonally adjusted terms. This increase was due to investment in New machinery and equipment (up 3.9%), and Total intangible fixed assets (up 1.1%), partially offset by falls in the components of non-dwelling construction; New building (down 5.3%) and New engineering construction (down 1.6%). Dwelling investment rose 2.1% seasonally adjusted, driven by a 4.6% rise in Alterations and additions.

• Total inventories rose by $1,464m in trend terms, following a rise of $1,466m in the September quarter. Seasonally adjusted, total inventories rose by $1,542m following a $1,688m rise in the previous quarter. Changes in inventories detracted 0.1 percentage points from seasonally adjusted GDP growth during the quarter.

• In trend terms, Exports of goods and services rose 0.4% while in seasonally adjusted terms, it fell 0.6%. Seasonally adjusted Exports of goods fell 1.1%, driven by falls in Non-monetary gold (down 9.7%) and Mineral ores (down 2.9%), offsetting rises in Other mineral fuels (up 8.4%) and Coal (up 2.4%). Exports of services grew 1.0%.
• Imports of goods and services increased 2.4% in trend terms and 3.6% in seasonally adjusted terms. Imports of goods, seasonally adjusted, increased 3.1%, with growth in Consumption goods (up 6.3%), Capital goods (up 5.8%), and Intermediate goods (up 1.6%), Other goods decreased 19.3%. Imports of services rose 5.4%, driven by growth in Transportation (up 4.1%), Travel (up 5.7%) and Other services (up 6.4%).