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			Trend			Seasonally adjusted
			Quarterly % change Mar 04 to Jun 04	Annual % change Jun 03 to Jun 04	% points contribution to growth in GDP Mar 04 to Jun 04	Quarterly % change Mar 04 to Jun 04	Annual % change Jun 03 to Jun 04	% points contribution to growth in GDP Mar 04 to Jun 04
Final consumption expenditure
	General Government		0.9	3.2	0.2	1.9	3.8	0.3
	Households		1.3	6.1	0.8	1.1	6.1	0.6
Gross fixed capital formation
	Private
		Dwellings	1.9	10.0	0.1	1.1	11.9	0.1
		Business investment	1.9	8.7	0.2	4.9	11.2	0.6
		Ownership transfer costs	-6.6	-10.8	-0.1	-7.5	-11.5	-0.1
	Public		1.5	6.8	0.1	3.7	2.7	0.1
Changes in inventories
	Private non-farm		. .	. .	-0.1	. .	. .	-0.6
	Farm and public authority		. .	. .	-0.1	. .	. .	-0.3
Gross national expenditure			1.0	5.5	1.0	0.7	5.6	0.7
Exports of goods and services			1.6	5.8	0.3	1.8	7.9	0.4
Imports of goods and services			3.6	16.2	-0.9	2.0	15.9	-0.5
Statistical discrepancy (E)			. .	. .	0.2	. .	. .	-
Gross domestic product			0.6	3.7	0.6	0.6	4.1	0.6
. . not applicable
- nil or rounded to zero (including null cells)

JUNE QUARTER

Summary Comments

Final Consumption Expenditure

• Household consumption grew by 1.3% in trend terms (up 1.1% seasonally adjusted). The strongest trend growth rates were recorded for clothing and footwear, up 2.3% (up 3.5% seasonally adjusted) and furnishings and household equipment up 1.9% (up 1.1% seasonally adjusted). Household purchases of vehicles fell 5.9% in seasonally adjusted terms. Government consumption grew by 0.9% in trend terms (up 1.9% seasonally adjusted) with all levels of government contributing to the growth.

• Private GFCF rose by 1.1% in trend terms with non-dwelling construction and dwelling investment rising most strongly. Seasonally adjusted, private GFCF rose by 2.7%, machinery and equipment rose 6.9%, non-dwelling construction rose 0.1% and dwelling investment rose 1.1%.

• Trend inventories rose by $846 million (up $412 million seasonally adjusted), driven by a rise in wholesaling inventories. As the build up in June quarter was less than in the March quarter (in both trend and seasonally adjusted terms) the change in inventories detracted from growth.

• Trend exports of goods and services rose 1.6% (up 1.8% seasonally adjusted). In seasonally adjusted terms, exports of goods rose 3.3% with a strong contribution from rural goods, while exports of services fell 3.1%.
• Trend imports of goods and services rose 3.6% (up 2.0% seasonally adjusted). Seasonally adjusted, imports of goods rose 2.7% while imports of services fell 0.9%.