MARCH KEY FIGURES

		% change Dec qtr 10 to Mar qtr 11	% change Mar qtr 10 to Mar qtr 11
GDP (Chain volume measure)
	Trend	-0.2	1.2
	Seasonally adjusted	-1.2	1
Final consumption expenditure (Chain volume measure)
	Trend	0.7	3.4
	Seasonally adjusted	0.8	3.7
Gross fixed capital formation (Chain volume measure)
	Trend	1.1	2.1
	Seasonally adjusted	2.4	2.4
GDP chain price index
	Original	1.7	5.8
Terms of trade
	Seasonally adjusted	5.8	22.4
Real net national disposable income
	Trend	-0.1	5.2
	Seasonally adjusted	0.1	6.4
- nil or rounded to zero (including null cells)

GDP growth rates, Volume measures, quarterly change

Contributions to GDP growth, Seasonally adjusted

MARCH KEY POINTS


KEY AGGREGATES

• In trend terms, GDP decreased 0.2% and Non-farm GDP also decreased 0.2% in the March 2011 quarter. GDP per hour worked in the market sector fell 0.7% and the Terms of trade rose 4.5%.
• In seasonally adjusted terms, GDP decreased by 1.2% in the March quarter and Non-farm GDP fell 1.0%. The Terms of trade rose 5.8% and Real gross domestic income was flat.

EXPENDITURE ON GDP

• In seasonally adjusted terms, the main detractors to expenditure on GDP were Net exports (-2.4 percentage points) and Inventories (-0.5 percentage points). Private gross fixed capital formation (0.7 percentage points) was the largest positive contributor.

INDUSTRY GROSS VALUE ADDED

In seasonally adjusted terms, Mining (down 6.1%) contributed -0.6 percentage points, while Manufacturing (down 2.4%) and Agriculture (down 8.9%) both contributed 0.2 points to the decline in GDP.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
June 2011	7 September 2011
September 2011	7 December 2011
December 2011	7 March 2012
March 2012	6 June 2012

REVISIONS IN THIS ISSUE

There are revisions in this issue due to the incorporation of more up-to-date data and concurrent seasonal adjustment.


FLOODS

Heavy rain and flooding occurred in Queensland and other states in late 2010 and early 2011. The December quarter issue of this publication presented the first economic impact of these floods. This current issue reflects the continued impact. There were no significant data reporting issues this quarter.


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>.