SEPTEMBER KEY FIGURES

		% change Jun qtr 09 to Sep qtr 09	% change Sep qtr 08 to Sep qtr 09
GDP (Chain volume measure)
	Trend	0.5	1.0
	Seasonally adjusted	0.2	0.6
Final consumption expenditure (Chain volume measure)
	Trend	0.7	2.0
	Seasonally adjusted	0.7	1.9
Gross fixed capital formation (Chain volume measure)
	Trend	-0.2	-4.0
	Seasonally adjusted	0.4	-4.0
GDP chain price index
	Original	0.4	-3.1
Terms of trade
	Seasonally adjusted	1.0	-15.9
Real net national disposable income
	Trend	-0.8	-4.6
	Seasonally adjusted	0.7	-4.8

GDP growth rates, Volume measures, quaterly change

Contributions to GDP growth, Seasonally adjusted

SEPTEMBER KEY POINTS


KEY AGGREGATES

• In trend terms, GDP increased 0.6% and Non-farm GDP increased by 0.5%. GDP per hour worked in the market sector fell 0.7% and the Terms of Trade fell 4.3%.
• In seasonally adjusted terms, GDP increased by 0.2% in the September quarter. Non-farm GDP grew 0.1%. The Terms of trade rose 1.0% and Real gross domestic income rose 0.4%.

EXPENDITURE ON GDP

• In seasonally adjusted terms, the main positive contributors to expenditure on GDP were Public gross fixed capital formation (0.3 percentage points), Dwellings (0.3 percentage points) and Household final consumption expenditure (0.4 percentage points). The largest negative contributors were Exports (-0.5 percentage points) and Imports (-1.1 percentage points).

INDUSTRY GROSS VALUE ADDED

• In seasonally adjusted terms, Rental, hiring and leasing services contributed 0.3 percentage points to GDP growth while Construction contributed 0.2 percentage points.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
December 2009	3 March 2010
March 2010	2 June 2010
June 2010	1 September 2010
September 2010	1 December 2010

CORRECTED TIME SERIES AND COMPONENTS

This release corrects errors identified in some of the series released on 16 December 2009. The corrections are to the seasonal adjustment of the Value Added of Agriculture, the estimation of components of Household Final Consumption Expenditure in current prices and Real Gross National Income.


REVISIONS IN THIS ISSUE

There are a number of significant changes in this issue. This is the first release to move to the new international standards System of National Accounts 2008 (SNA08) and Balance of Payments and International Investment Position Manual, sixth edition (BPM6), and to the new industry classification Australian and New Zealand Standard Industrial Classification, 2006 (ANZSIC06) and Standard Economic Sector Classification of Australia, 2008 (SESCA08). These changes have resulted in revisions to the entire National Accounts time series.

To inform users of these changes, a number of information papers have been released in the lead up to this issue:

• For detail on the new industry classification see Australian and New Zealand Standard Industrial Classification 2006 (cat. no. 1292.0)
• For discussion of the new standards see Information Paper: Introduction of revised international standards in ABS economic statistics in 2009, 2007 (cat. no. 5310.0.55.001)
• For indicative impacts of these changes and discussion of new methodologies see Information Paper: Implementation of new international standards in ABS National and International Accounts, September 2009 (cat. no. 5310.0.55.002)
• For the new table structures and identifiers see Information Paper: Product changes to National Income, Expenditure and Product following revisions to international standards, 2009 (cat. no. 5206.0.55.002)

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 Laurie Nitschke on Canberra (02) 6252 6711, email <national.accounts@ abs.gov.au>.