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MAIN FEATURES EXPENDITURE CHAIN VOLUME MEASURES

			Trend				Seasonally adjusted
			% Change	% Change	% points contribution to		% Change	% Change	% points contribution to
			Dec 18 to	Mar 18 to	growth in GDP		Dec 18 to	Mar 18 to	growth in GDP
			Mar 19	Mar 19	Dec 18 to Mar 19		Mar 19	Mar 19	Dec 18 to Mar 19
Final consumption expenditure
	General government		1.2	5.4	0.2		0.8	5.1	0.2
	Households		0.3	1.7	0.2		0.3	1.8	0.1
Gross fixed capital formation
	Private
		Dwellings	-2.1	-1.9	-0.1		-2.5	-3.1	-0.1
		Ownership transfer costs	-9.3	-21.2	-0.1		-13.0	-23.8	-0.2
		Non-dwelling construction	-	-6.1	-		2.1	-4.7	0.1
		Machinery and equipment	0.4	1.9	-		0.5	1.0	-
		Cultivated biological resources	-2.4	-14.9	-		-4.6	-16.0	-
		Intellectual property products	1.1	6.5	-		1.0	6.9	-
	Public		1.5	7.7	0.1		0.4	6.8	-
Changes in inventories			na	na	na		na	na	-0.1
Gross national expenditure			0.2	1.7	0.2		-	1.6	-
Exports of goods and services			0.1	2.0	-		1.0	1.7	0.2
Imports of goods and services			-0.2	-0.6	-		-0.1	-0.5	-
Statistical discrepancy (E)			na	na	-		na	na	0.2
Gross domestic product			0.3	1.7	0.3		0.4	1.8	0.4
- nil or rounded to zero (including null cells)
na not available

• Household final consumption expenditure increased 0.3% in seasonally adjusted terms. This was driven by rises in insurance and other financial services (0.6%), health (0.7%), electricity, gas and other fuel (1.8%) and food (0.3%). There were falls in recreation and culture (-0.5%), hotels, cafes and restaurants (-0.4%) and clothing and footwear (-0.6%), which are all discretionary categories of household consumption.
• Government final consumption expenditure increased 0.8% in seasonally adjusted terms. National government consumption rose 1.4% while State and local government consumption increased 0.4%.

• Gross fixed capital formation decreased 0.7% in seasonally adjusted terms. Private investment declined 1.0%, driven by ownership transfer costs (-13.0%), reflecting the slowing housing market. This was partly offset by a rise in non-dwelling construction (2.1%). Public investment increased 0.4%, driven by state and local general government (3.0%). This was partly offset by weakness in national general government (-4.8%) and state and local public corporations (-3.7%).

• Total inventories increased $460m in seasonally adjusted terms following an increase of $1,048m last quarter. The increase was driven by a build up in Retail trade and Manufacturing inventories. Public authorities inventories fell this quarter, following a significant rise in the December quarter.

• Exports of goods and services rose 1.0% in seasonally adjusted terms. Exports of goods increased 0.7% driven by an increase in rural goods (6.5%), which was partly offset by a fall in non-rural goods (-2.5%). Export of services rose 2.0%.
• Imports of goods and services fell 0.1% in seasonally adjusted terms. Imports of goods rose 0.3% driven by an increase in both consumption goods (3.0%) and capital goods (1.2%), while intermediate goods fell (-2.7%). Import of services declined 1.4%.