DECEMBER KEY FIGURES

		% change Sep qtr 09 to Dec qtr 09	% change Dec qtr 08 to Dec qtr 09
GDP (Chain volume measure)
	Trend	0.6	2.0
	Seasonally adjusted	0.9	2.7
Final consumption expenditure (Chain volume measure)
	Trend	0.9	3.1
	Seasonally adjusted	0.9	3.2
Gross fixed capital formation (Chain volume measure)
	Trend	2.5	2.1
	Seasonally adjusted	4.8	3.5
GDP chain price index
	Original	0.9	-2.8
Terms of trade
	Seasonally adjusted	2.9	-11.2
Real net national disposable income
	Trend	0.6	-2.0
	Seasonally adjusted	1.2	-1.2

GDP growth rates, Volume measures, quaterly change

Contributions to GDP growth, Seasonally adjusted

DECEMBER KEY POINTS


KEY AGGREGATES

• In trend terms, GDP increased 0.6% and Non-farm GDP increased 0.5% in the December 2009 quarter. GDP per hour worked in the market sector rose 0.5% and the Terms of Trade rose 0.4%.
• In seasonally adjusted terms, GDP increased 0.9% in the December quarter. Non-farm GDP grew 0.8%. The Terms of trade rose 2.9% and Real gross domestic income rose 1.5%.

EXPENDITURE ON GDP

• In seasonally adjusted terms, the main positive contributors to expenditure on GDP were Private capital formation expenditure on Machinery and equipment (0.8 percentage points), Public gross fixed capital formation (0.6 percentage points), and Household final consumption expenditure (0.4 percentage points). The largest negative contributor was Imports (-1.6 percentage points).

INDUSTRY GROSS VALUE ADDED

• In seasonally adjusted terms, Manufacturing contributed 0.4 percentage points to GDP growth while Construction and Wholesale trade both contributed 0.2 percentage points.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
March 2010	2 June 2010
June 2010	1 September 2010
September 2010	1 December 2010
December 2010	2 March 2011

REVISIONS IN THIS ISSUE

There are quarterly revisions due to the incorporation of more up-to-date source data and changes to seasonal adjustment factors. The main components affected by the changes in seasonal adjustment factors are Inventories and Household Final Consumption Expenditure. There are also revisions to State Household Final Consumption Expenditure series.

Chain volume measures of goods exports have been revised from the September quarter 2008. This is due to the updating of prices in the weighting structure used to aggregate components. The prices have been updated to 2006-07 prices.

The overall effect of these revisions on recent quarters has been to increase the seasonally adjusted measure of GDP in September quarter 2009 by 0.1%, and increase March quarter 2009 growth by 0.2%.


SUPPRESSION OF TREND ESTIMATES

Trend estimates for series impacted by the Government's Economic Security and Stimulus payments to Households (including Household Final Consumption Expenditure and Household Net Saving) have been suppressed due to the difficulty in assessing the impact of the one off payments on the trend series.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or National Accounts on Canberra (02) 6252 6711, email <national.accounts@ abs.gov.au>.


SUMMARY COMMENTARY