The ABS will be closed from 12.00pm, 24 December 2024 and will reopen at 9.00am, 2 January 2025. During this time there will be no statistical releases and our support functions will be unavailable. The ABS wishes you a safe and happy Christmas.

Australian National Accounts: National Income, Expenditure and Product

This is not the latest release View the latest release

Quarterly estimates of key economic flows in Australia, including gross domestic product (GDP), consumption, investment, income and saving

Cite
Print
Reference period
September 2019
Released
4/12/2019
View all releases

Key statistics

  • The Australian economy grew by 0.4% in seasonally adjusted chain volume terms.
  • Household saving ratio increased to 4.8.
  • Net exports contributed 0.2 percentage points to GDP growth.
  • Domestic final demand contributed 0.2 percentage points to GDP growth.

Main features

September key figures

         Seasonally adjusted, percentage change (a) 
  Jun 18 to Sep 18Sep 18 to Dec 18Dec 18 to Mar 19Mar 19 to Jun 19Jun 19 to Sep 19Sep 18 to Sep 19
Chain volume GDP and related measures (b)     
 GDP0.30.20.50.60.41.7
 GDP per capita (c)-0.1-0.20.10.3-0.2
 Gross value added market sector (d)-0.3-0.10.60.50.21.2
 Real net national disposable income0.31.11.21.50.94.8
Productivity      
 GDP per hour worked--0.3-0.30.6-0.2-0.2
 Real unit labour costs0.10.1-0.70.20.1-0.4
Prices      
 GDP chain price index (original)0.71.21.21.10.74.3
 Terms of trade0.82.53.31.40.47.8
Current price measures      
 GDP1.11.21.61.51.15.5
 Household saving ratio2.83.13.42.74.8na

na not available
a. Change on preceding quarter, except for the last column which shows the change between the current quarter and the corresponding quarter of the previous year. Excludes Household saving ratio.
b. Reference year for chain volume measures and real income measures is 2017-18.
c. Population estimates are as published in the Australian Demographic Statistics (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
 

Revisions in this issue

The estimates in this issue incorporate the 2017-18 annual supply and use tables. The supply and use tables incorporate revisions reflecting changes in methods, concepts, classifications and data sources. For more information on the role of supply and use tables in the national accounts and the major revisions please see the Analysis of Results section in Australian System of National Accounts, 2018-19 (cat. no. 5204.0).

This publication also includes the impact of re-referencing chain volume (CVM) estimates to the 2017–18 financial year. This in isolation will only affect levels of CVM estimates, generally leaving growth rates unchanged. Re-referencing can have an impact on CVM GDP growth (and other estimates) for the latest financial year (2017–18) if there are significant relative price changes between 2016–17 and 2017–18.

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

Changes in this issue

This issue includes the introduction of Mining private business investment and Non-mining private business investment in the accounts. The quarterly and annual series have been included in Table 24. Selected analytical series and Table 34. Key aggregates and analytical series, annual respectively. Methodology for these series can be found in Mining and Non-Mining Investment.

Change to Australia's Economic Territory

A new Maritime Boundary Treaty between Australia and Timor-Leste came into force on 30 August 2019. The new treaty provides exclusive jurisdiction of the former Joint Petroleum Development Area excluding Greater Sunrise in the Timor Sea to the Democratic Republic of Timor-Leste. From this publication onwards, data will reflect the new maritime boundary.

Analysis

Australian economy grew by 0.4%

Australia's gross domestic product (GDP) grew by 0.4% in the September quarter 2019, following a 0.6% rise in the June quarter. The Australian economy grew 1.7% through the year.

Household consumption remains subdued

Household final consumption expenditure increased 0.1% in the quarter, with through the year growth softening to 1.2%. The quarterly rise in household consumption was driven by modest growth in expenditure on essential goods and services. Consumption of discretionary goods and services fell 0.3% this quarter.

Fall in income tax payable drives growth in household savings ratio

Growth in household gross disposable income outpaced subdued household final consumption expenditure, leading to a sharp rise in the household saving ratio (4.8). Household gross disposable income increased 2.5%, driven by a decline in income tax payable, which was impacted by the introduction of the low and middle income tax offset.

Public spending drives domestic final demand

Domestic final demand contributed 0.2 percentage points to GDP growth, with government final consumption expenditure and public gross fixed capital formation both contributing to the rise.

Government final consumption expenditure rose 0.9% in the quarter and remains strong through the year at 6.0%. National non-defence consumption expenditure contributed to growth with continued spending on disability and aged care services. Public gross fixed capital formation grew 1.9% in the September quarter, with state and local public corporations and national general government the main contributors.

Continued strength in healthcare drives gross value added

Health Care and Social Assistance GVA rose 2.6% in the September quarter and has risen 8.3% through the year. Growth is attributed to both the public and private sectors, reflecting continued demand for disability, health and aged care services.

Dwelling investment continues to decline

Investment in new and used dwellings fell 2.8% in the quarter and 11.0% through the year, reflecting continued weakness in dwelling approvals. Both houses (-2.1%) and other residential dwellings (-3.7%) contributed to the decline this quarter. All states and territories recorded falls with the exception of Victoria.

Mining drives fall in private business investment

Mining business investment fell 7.8% this quarter and 11.2% through the year, reflecting the transition of LNG projects from investment to production. Non-mining business investment rose 1.2% this quarter, driven by non-residential building and road projects.

Expenditure chain volume measures

    Trend  Seasonally adjusted
   % Change% Change% points contribution to growth in GDP% Change% Change% points contribution to growth in GDP
   Jun 19 to Sep 19Sep 18 to Sep 19Jun 19 to Sep 19Jun 19 to Sep 19Sep 18 to Sep 19Jun 19 to Sep 19
Final consumption expenditure     
 General government1.46.00.30.96.00.2
 Households0.21.20.10.11.20.1
 Total final consumption expenditure0.62.50.40.32.40.2
Gross fixed capital formation     
 Private      
  Dwellings-2.3-9.2-0.1-1.7-9.6-0.1
  Ownership transfer costs-0.3-15.8-4.5-13.70.1
  Non-dwelling construction-1.9-5.2-0.10.6-4.1-
  Machinery and equipment-0.21.8--4.2-1.1-0.2
  Cultivated biological resources0.6-8.0-0.8-5.9-
  Intellectual property products1.96.7-1.77.1-
 Public0.60.1-1.90.20.1
 Total gross fixed capital formation-0.7-3.5-0.2-0.2-3.8-
Changes in inventoriesnanananana0.1
Gross national expenditure0.10.50.10.30.60.3
Exports of goods and services1.03.70.20.73.30.2
Imports of goods and services-0.6-2.00.1-0.2-1.50.1
Statistical discrepancy (E)nana-nana-0.1
Gross domestic product0.51.80.50.41.70.4

- nil or rounded to zero (including null cells)
na not available
 

September quarter

Summary comments ​​​​​​​

Final consumption expenditure

  • Household final consumption expenditure increased 0.1% in seasonally adjusted terms. This was driven by rises in health (0.9%), recreation and culture (0.5%), insurance and other financial services (0.3%) and food (0.3%). These were partly offset by falls in discretionary consumption, such as hotels, cafes and restaurants (-0.9%), transport services (-1.4%), clothing and footwear (-0.6%) and purchase of vehicles (-1.0%).
  • Government final consumption expenditure increased 0.9% in seasonally adjusted terms. National general government consumption increased 2.3%, with contributions from both defence and non-defence expenditure, while state and local general government consumption had a small fall of 0.1%.
     

Gross fixed capital formation

  • Gross fixed capital formation decreased 0.2% in seasonally adjusted terms. Private investment declined 0.7%, driven by falls in machinery and equipment (-4.2%) and dwellings (-1.7%). Public investment partly offset the decline, increasing 1.9%. This was driven by state and local public corporations (7.6%) and national general government (5.1%).
     

Changes in inventories

  • Total inventories decreased $941m in seasonally adjusted terms following a decrease of $1,366m last quarter. The decrease was driven by a run down in Retail Trade, Manufacturing and public authorities inventories. Mining and Wholesale Trade rose this quarter, following falls in the June quarter. Farm built up inventories for the second consecutive quarter.
     

Exports and imports of goods and services

  • Exports of goods and services rose 0.7% in seasonally adjusted terms. Exports of goods increased 0.4% driven by increases in non-monetary gold, other mineral fuels and mineral ores, which was partly offset by falls in coal and rural goods. Exports of services rose 1.6% driven by an increase in travel services.
  • Imports of goods and services fell 0.2% in seasonally adjusted terms. Imports of services declined 1.6% driven by a fall in transportation services. This was partly offset by a small rise in the imports of goods of 0.2%, driven by the increase in intermediate goods, while imports of capital and consumption goods fell.

Income at current prices

    Trend Seasonally adjusted
   % Change% Change% points contribution to growth in GDP% Change% Change% points contribution to growth in GDP
   Jun 19 to Sep 19Sep 18 to Sep 19Jun 19 to Sep 19Jun 19 to Sep 19Sep 18 to Sep 19Jun 19 to Sep 19
Compensation of employees1.25.10.61.15.00.5
Gross operating surplus     
 Private non-financial corporations2.212.70.42.013.20.4
 Other(a)0.52.90.10.32.7-
Gross mixed income-0.3-2.4--0.4-1.9-
Taxes less subsidies on production and imports1.63.70.21.33.50.1
Statistical discrepancy (I)nana-nana0.1
Gross domestic product1.35.61.31.15.51.1

- nil or rounded to zero (including null cells) na not available
a. Includes Public non-financial corporations Financial corporations General government and Dwellings owned by persons.
 

September quarter

Summary comments

Gross operating surplus (GOS)

  • Total GOS grew 1.2%, increasing for all sectors except public non-financial corporations. Private non-financial corporations was the main contributor to growth, increasing 2.0%, which is consistent with the rise in the terms of trade (0.4%). Construction was the main contributor to growth, driven by high levels of non-residential construction and public infrastructure activity.
  • Through the year GOS increased 8.3%. Mining was the main contributor to this growth, driven by higher commodity prices and increased production volumes.
     

Compensation of employees (COE)

  • COE increased 1.1% and average compensation per employee rose 0.7%.
  • Private COE grew 1.2%, while public COE increased 0.8%.
  • All states and territories with the exception of the Northern Territory recorded growth in COE this quarter. The strongest growth came from Western Australia (1.6%) followed by Queensland (1.1%).
     

Production chain volume measures

    Trend Seasonally adjusted
   % Change% Change% points contribution to growth in GDP% Change% Change% points contribution to growth in GDP
   Jun 19 to Sep 19Sep 18 to Sep 19Jun 19 to Sep 19Jun 19 to Sep 19Sep 18 to Sep 19Jun 19 to Sep 19
Agriculture forestry and fishing-0.6-6.2--2.1-6.1-
Mining1.77.00.10.77.40.1
Manufacturing-0.7-2.9--0.6-2.7-
Electricity gas water and waste services-0.2-0.9--0.3-1.5-
Construction-0.3-3.9-0.5-3.3-
Wholesale trade-0.7-0.5--0.7-0.5-
Retail trade--0.2-0.1-0.2-
Accommodation and food services0.71.5-0.11.0-
Transport postal and warehousing-0.4-0.4--0.40.3-
Information media and telecommunications0.73.5-0.84.8-
Financial and insurance services0.31.8-0.11.6-
Rental hiring and real estate services0.40.8-0.20.2-
Professional scientific and technical services1.64.80.11.34.20.1
Administrative and support services1.15.1-1.04.7-
Public administration and safety1.03.60.11.24.40.1
Education and training0.52.4-0.62.4-
Health care and social assistance2.08.20.12.68.30.2
Arts and recreation services0.44.8-0.35.1-
Other services0.43.6--1.72.2-
Ownership of dwellings0.62.4-0.62.4-
Taxes less subsidies on products0.1-0.3-0.1-0.7-
Statistical discrepancy (P)nana-0.1nana-
Gross domestic product0.51.80.50.41.70.4

- nil or rounded to zero (including null cells)
na not available
 

September quarter

Summary comments

Agriculture, Forestry and Fishing

  • Agriculture, Forestry and Fishing fell 2.1%, driven by falls in output of livestock and other crops. Slaughter rates of cattle and calves decreased during the quarter, while the winter crops continued to be impacted by the ongoing drought conditions. The industry declined 6.1% through the year.
     

Mining

  • Mining rose 0.7%, driven by Iron Ore Mining (2.0%) and Coal Mining (0.6%). The continued strength in external demand drove the growth in iron ore output, while coal production increased following maintenance in the previous quarter. Oil and Gas Extraction (0.2%) contributed to the rise driven by new sites increasing capacity. The industry grew 7.4% through the year.
     

Manufacturing

  • Manufacturing fell 0.6%, driven by a fall in Food, Beverage and Tobacco Product Manufacturing (–1.5%). Low meat production and reduced demand for beverages drove the fall this quarter. Partly offsetting the fall was a rise in Machinery and Equipment Manufacturing (1.6%), due to demand for industrial equipment.
     

Electricity, Gas, Water and Waste Services

  • Electricity, Gas, Water and Waste Services fell 0.3%, driven by Electricity Supply (-0.8%). Partly offsetting the fall was Gas Supply (2.0%) as power stations were operating at elevated levels to cover coal generator outages.
     

Construction

  • Construction rose 0.5%, driven by Construction Services (0.6%) and Building Construction (0.6%) reflecting increased work in the private non-residential sector. Heavy and Civil Engineering Construction fell (–0.2%), partly offsetting the rise, due to a slowdown in mining and electricity generation infrastructure projects.
     

Information Media and Telecommunications

  • Information Media and Telecommunications rose 0.8%, driven by Telecommunication Services (1.2%) with an increase in the uptake of internet and mobile services. Other Information and Media recorded a rise of 0.4%, driven by internet publishing.
     

Financial and Insurance Services

  • Financial and Insurance Services rose 0.1%, driven by Finance (0.1%) reflecting continuing weakness in growth of loan balances, particularly dwelling and personal loans, and modest growth in deposit balances. Other Financial and Insurance Services rose 0.1%, due to a rise in superannuation services.
     

Professional, Scientific and Technical Services

  • Professional, Scientific and Technical Services rose 1.3%, driven by Computer System Design and Related Services (4.7%). This rise is attributed to increased demand for software, cyber security and other web services. Other Professional, Scientific and Technical Services rose 0.1% due to continued strength in consultancy services.
     

Health Care and Social Assistance

  • Health Care and Social Assistance rose 2.6%, driven by continued strength in both public and private health. The industry grew 8.3% through the year.

State final demand chain volume measures

   Seasonally adjusted, % change from Jun 19 to Sep 19
  NSWVic.QldSAWATas.NTACTAust.(a)
Final consumption expenditure         
 General government2.4-0.1-0.3-0.21.61.12.51.00.9
 Households0.20.1--0.10.10.5-0.10.40.1
Gross fixed capital formation         
 Private-2.94.1-0.7-3.4-3.3-0.2-6.93.1-0.7
 Public6.6-8.94.29.74.15.33.23.41.9
State final demand0.30.40.1-0.3-0.20.8-1.10.2

- nil or rounded to zero (including null cells)
a. Australia estimates relate to Domestic final demand.
 

September quarter

Summary comments

Australia

  • Australia's domestic final demand increased 0.2%. Public spending was the largest contributor to growth as government final consumption expenditure increased 0.9% and public gross fixed capital formation increased 1.9%. Household final consumption expenditure rose 0.1%. Private gross fixed capital formation detracted from growth, with falls in machinery and equipment (-4.2%) and dwelling investment (-1.7%).
     

State final demand, quarterly volume measures: seasonally adjusted

Diagram shows State final demand, Quarterly volume measures: Seasonally adjusted
The image is a map of Australia by state/territory showing quarterly volume measures; New South Wales' state final demand increased 0.3% for the quarter. Victoria's state final demand increased 0.4% for the quarter. Queensland's state final demand increased 0.1% for the quarter. South Australia's state final demand decreased 0.3% for the quarter. Western Australia's state final demand decreased 0.2% for the quarter. Tasmania's state final demand increased 0.8% for the quarter. Northern Territory's state final demand was flat for the September quarter at 0%. Australian Capital Territory's state final demand increased 1.1% for the quarter.

New South Wales

  • New South Wales' state final demand increased 0.3% in the September quarter. Final consumption expenditure contributed to growth with increases in both the household (0.2%) and government (2.4%) sectors. Growth in household consumption was subdued, with growth in essential consumption partly offset by falls in discretionary spending. The rise in government consumption reflects continued spending on social benefits to households and employee expenses. Public investment rose 6.6%, driven by the general government sector with growth across both national and state and local governments. Private capital investment partly offset the increases, driven by falls in both machinery and equipment and dwelling investment. Private investment has declined for four consecutive quarters, driven by ongoing falls in dwelling investment.
     

Victoria

  • Victoria’s state final demand increased 0.4%. Private final demand rose 1.1%, driven by increased private investment with growth in ownership transfer costs and new building. Household consumption expenditure was subdued (0.1%), the softest growth since December 2012. Public gross fixed capital formation declined 8.9%, driven by state and local general government investment (-13.8%).
     

Queensland

  • Queensland's state final demand increased 0.1%, driven by public investment (4.2%), with growth spread across general government and public non-financial corporations. Government consumption expenditure (-0.3%) partly offset the rise following strong expenditure related to flood remediation in the previous quarter. Private investment detracted from growth reflecting continued weakness in dwelling investment and new engineering construction. Growth in household consumption expenditure was flat for the quarter.
     

South Australia

  • South Australia's state final demand decreased 0.3% for the quarter. Weakness in non-dwelling construction (-12.1%) was driven by falls in energy and mining related investment. Final consumption expenditure detracted from growth with falls from both the household (-0.1%) and government (-0.2%) sectors. Public investment partly offset the falls, with rises across public non-financial corporations and state and local general government.
     

Western Australia

  • Western Australia's state final demand decreased 0.2% for the quarter. Investment in non-dwelling construction (-8.9%) drove the fall, due to the slowdown in mining related projects. Government final consumption expenditure (1.6%) contributed to growth, with strength from both the national and state and local governments. Household consumption expenditure was subdued with growth in essential spending partly offset by weakness in discretionary spending.
     

Tasmania

  • Tasmania’s state final demand increased 0.8%, driven by household (0.5%) and government consumption expenditure (1.1%). Public investment rose 5.3% while private investment detracted from growth. The fall in private investment was driven by a decline in machinery and equipment (-17.6%). This fall was partly offset by an increase in non-dwelling construction (29.9%), driven by renewable energy projects.
     

Northern Territory

  • Northern Territory's growth in state final demand was flat with growth in public final demand (2.6%) offset by a fall in private final demand (-1.8%). Public final demand was driven by government consumption expenditure (2.5%) with rises across both national and state and local general government. State and local general government investment contributed to growth following an asset sale in the previous quarter. The fall in private final demand was due to the decline in private investment, driven by non-dwelling construction. Household consumption was flat in the quarter and fell 1.3% through the year.
     

Australian Capital Territory

  • Australian Capital Territory’s state final demand increased 1.1% for the quarter. The largest contributor to growth was government consumption expenditure (1.0%). Private investment increased 3.1%, driven by new building construction. Public investment rose 3.4% with increased spending by both national general government and public corporations. The increased investment by public corporations was driven by the utilities industry. Household consumption increased 0.4%, above the national growth of 0.1%.

Recent and upcoming releases

Australian System of National Accounts (cat. no. 5204.0)

The 2018-19 issue of the Australian System of National Accounts was released on 25 October 2019. This publication provides detailed, annual estimates of Australia's national accounts. These include expenditure, income and production estimates of gross domestic product (GDP), productivity estimates, sectorial accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry.

Read more

Data downloads

Table 1. Key national accounts aggregates

Data files
Download xls [282 KB]

Table 2. Expenditure on Gross Domestic Product (GDP), chain volume measures

Data files
Download xls [1.81 MB]

Table 3. Expenditure on Gross Domestic Product (GDP), current prices

Data files
Download xls [349.5 KB]

Table 4. Expenditure on Gross Domestic Product (GDP), chain price indexes

Data files
Download xls [167 KB]

Table 5. Expenditure on Gross Domestic Product (GDP), implicit price deflators

Data files
Download xls [232 KB]

Table 6. Gross value added by industry, chain volume measures

Data files
Download xls [675 KB]

Table 7. Income from Gross Domestic Product (GDP), current prices

Data files
Download xls [245 KB]

Table 8. Household Final Consumption Expenditure (HFCE)

Data files
Download xls [511.5 KB]

Table 9. Changes in inventories

Data files
Download xls [136 KB]

Table 10. Agricultural income, current prices

Data files
Download xls [94 KB]

Table 11. National income account, current prices

Data files
Download xls [160 KB]

Table 12. National capital account, current prices

Data files
Download xls [149.5 KB]

Table 13. Non-financial corporations income account, current prices

Data files
Download xls [174.5 KB]

Table 14. Private non-financial corporations income account, current prices

Data files
Download xls [170.5 KB]

Table 15. Public non-financial corporations income account, current prices

Data files
Download xls [166 KB]

Table 16. Financial corporations income account, current prices

Data files
Download xls [170.5 KB]

Table 17. General government income account, current prices

Data files
Download xls [265.5 KB]

Table 18. National general government income account, current prices

Data files
Download xls [249.5 KB]

Table 19. State and local general government income account, current prices

Data files
Download xls [223 KB]

Table 20. Household income account, current prices

Data files
Download xls [300.5 KB]

Table 21. External account, current prices

Data files
Download xls [135 KB]

Table 22. Taxes, current prices

Data files
Download xls [178 KB]

Table 23. Social assistance benefits payments, current prices

Data files
Download xls [214.5 KB]

Table 24. Selected analytical series

Data files
Download xls [334.5 KB]

Table 25. State final demand, summary components by state: chain volume measures

Data files
Download xls [351 KB]

Table 26. State final demand, detailed components: New South Wales

Data files
Download xls [660.5 KB]

Table 27. State final demand, detailed components: Victoria

Data files
Download xls [659.5 KB]

Table 28. State final demand, detailed components: Queensland

Data files
Download xls [659.5 KB]

Table 29. State final demand, detailed components: South Australia

Data files
Download xls [660.5 KB]

Table 30. State final demand, detailed components: Western Australia

Data files
Download xls [886 KB]

Table 31. State final demand, detailed components: Tasmania

Data files
Download xls [660.5 KB]

Table 32. State final demand, detailed components: Northern Territory

Data files
Download xls [886.5 KB]

Table 33. State final demand, detailed components: Australian Capital Territory

Data files
Download xls [663.5 KB]

Table 34. Key aggregates and analytical series, annual

Data files
Download xls [127.5 KB]

Table 35. Income from GDP and changes in inventories, annual

Data files
Download xls [60.5 KB]

Table 36. Expenditure on Gross Domestic Product (GDP), chain volume measures and current prices, annual

Data files
Download xls [207.5 KB]

Table 37. Industry gross value added, chain volume measures, annual

Data files
Download xls [87.5 KB]

Table 38. National income account, current prices, annual

Data files
Download xls [53.5 KB]

Table 39. National capital account, current prices, annual

Data files
Download xls [54.5 KB]

Table 40. External account, current prices, annual

Data files
Download xls [52 KB]

Table 41. Indexes of industrial production

Data files
Download xls [149.5 KB]

Table 42. Unit labour costs

Data files
Download xls [77 KB]

Table 43. Indexes of industrial production, annual

Data files
Download xls [54.5 KB]

Table 44. Compensation of employees, state by sector: current prices

Data files
Download xls [130.5 KB]

Table 45. Gross value added by industry, current prices

Data files
Download xls [299.5 KB]

All Time Series Workbooks

Data files
Download zip [4.18 MB]

Methodology

Australian National Accounts: National Income, Expenditure and Product methodology, September 2019

Articles