Australian National Accounts: National Income, Expenditure and Product

Latest release

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

Reference period

September 2024

Released

4/12/2024

Key statistics

The Australian economy rose 0.3% in seasonally adjusted chain volume measures
In nominal terms, GDP rose 0.4%
The terms of trade fell 2.5%
Household saving to income ratio rose to 3.2% from 2.4%

In this release

For a breakdown of key information from this and other recent economic releases, see Ten facts of the Australian Economy in September quarter 2024.

Public Consultation

The international economic standards that underpin many key economic statistics, such as GDP, are being updated.

Public consultation for changes to the 2025 System of National Accounts and Balance of Payments and International Investment Position Manual will open on the 10th of December 2024 and close on the 31st of January 2025.

More information will be available via the ABS Consultation Hub from the 10th of December 2024.

Economic overview

Unless otherwise stated all figures are in seasonally adjusted, chain volume measures.

The reference year for chain volume measures is 2022-23.

September quarter key figures, percentage changes (a)
		Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24
Chain volume measures (b)
	GDP	0.5	0.2	0.2	0.2	0.3	0.8
	GDP per capita (c)	-0.2	-0.3	-0.4	-0.5	-0.3	-1.5
	Gross value added market sector (d)	-0.3	0.4	-0.1	0.4	0.1	0.8
	Real net national disposable income	-0.4	1.3	-0.1	-1.2	0.5	0.4
Productivity
	GDP per hour worked	1.4	0.5	0.1	-0.9	-0.5	-0.8
	Real unit labour costs	1.0	0.1	-0.6	1.5	0.5	1.6
Prices
	GDP chain price index (original)	0.9	2.4	0.9	-0.8	-0.2	2.4
	Terms of trade	-2.3	3.0	-0.8	-3.6	-2.5	-3.9
Current price measures
	GDP	1.3	1.6	1.3	0.2	0.4	3.5
	Household saving ratio	1.5	2.6	2.5	2.4	3.2	na

- nil or rounded to zero
na not available
a. Change on preceding quarter; last column shows the change between the current quarter and the corresponding quarter of the previous year.
b. Reference year for chain volume measures and real income measures is 2022-23.
c. Population estimates are as published in National, state and territory population and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.

Australian economy grew 0.3% in the September quarter 2024

Gross Domestic Product (GDP) rose 0.3% in the September quarter, the twelfth consecutive quarter of growth. Government spending and public capital investment were the main drivers of GDP growth. Through the year, Australia’s economy grew 0.8%, the lowest rate since the COVID-19 affected December quarter 2020.

Gross domestic product, chain volume measures, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
Sep-16	0.0	2.2
Dec-16	1.2	2.7
Mar-17	0.3	2.1
Jun-17	0.6	2.1
Sep-17	0.9	3.0
Dec-17	0.4	2.3
Mar-18	1.0	3.0
Jun-18	0.7	3.2
Sep-18	0.4	2.6
Dec-18	0.2	2.4
Mar-19	0.7	2.1
Jun-19	0.3	1.6
Sep-19	0.6	1.8
Dec-19	0.6	2.2
Mar-20	-0.1	1.3
Jun-20	-6.7	-5.8
Sep-20	3.5	-3.1
Dec-20	3.4	-0.3
Mar-21	2.2	2.0
Jun-21	0.8	10.3
Sep-21	-1.7	4.8
Dec-21	3.6	4.9
Mar-22	1.0	3.6
Jun-22	1.0	3.8
Sep-22	0.4	6.0
Dec-22	0.8	3.2
Mar-23	0.5	2.7
Jun-23	0.3	2.0
Sep-23	0.5	2.1
Dec-23	0.2	1.5
Mar-24	0.2	1.1
Jun-24	0.2	1.0
Sep-24	0.3	0.8

Gross domestic product, chain volume measures, seasonally adjusted

["","Quarterly growth","Through the year"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[0],[1.2],[0.29999999999999999],[0.59999999999999998],[0.90000000000000002],[0.40000000000000002],[1],[0.69999999999999996],[0.40000000000000002],[0.20000000000000001],[0.69999999999999996],[0.29999999999999999],[0.59999999999999998],[0.59999999999999998],[-0.10000000000000001],[-6.7000000000000002],[3.5],[3.3999999999999999],[2.2000000000000002],[0.80000000000000004],[-1.7],[3.6000000000000001],[1],[1],[0.40000000000000002],[0.80000000000000004],[0.5],[0.29999999999999999],[0.5],[0.20000000000000001],[0.20000000000000001],[0.20000000000000001],[0.29999999999999999]],[[2.2000000000000002],[2.7000000000000002],[2.1000000000000001],[2.1000000000000001],[3],[2.2999999999999998],[3],[3.2000000000000002],[2.6000000000000001],[2.3999999999999999],[2.1000000000000001],[1.6000000000000001],[1.8],[2.2000000000000002],[1.3],[-5.7999999999999998],[-3.1000000000000001],[-0.29999999999999999],[2],[10.300000000000001],[4.7999999999999998],[4.9000000000000004],[3.6000000000000001],[3.7999999999999998],[6],[3.2000000000000002],[2.7000000000000002],[2],[2.1000000000000001],[1.5],[1.1000000000000001],[1],[0.80000000000000004]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-8","axis_max":"12","tick_interval":"2","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false},{"value":"1","axis_id":"1","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":"380","axis_max":"630","tick_interval":"50","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Domestic prices rise while the terms of trade continue to fall

Nominal GDP rose 0.4%. The GDP implicit price deflator (IPD) rose 0.1%, as a rise in the domestic final demand deflator (+0.7%) was partly offset by a fall in the terms of trade (-2.5%). High construction prices and skilled labour shortages kept domestic prices elevated, although the rate of price growth has gradually slowed.

The terms of trade fell due to lower export prices (-2.6%), the third consecutive quarterly fall. Weakness in global bulk commodity prices was driven by a fall in demand, particularly from China for metallurgical coal and iron ore for steel manufacturing. Import prices (-0.1%) also fell, in line with lower oil prices.

Quarterly growth in prices, seasonally adjusted
	Terms of trade (RHS) (%)	GDP IPD (LHS) (%)	DFD IPD (LHS) (%)
Sep-16	4.5	1.3	0.2
Dec-16	10.8	2.2	0.2
Mar-17	3.8	1.5	0.4
Jun-17	-4.3	-0.6	0.5
Sep-17	0.3	0.4	0.2
Dec-17	-0.1	0.2	0.5
Mar-18	1.4	0.9	0.5
Jun-18	0.5	0.6	0.5
Sep-18	1.5	1.2	0.6
Dec-18	2.2	0.8	0.5
Mar-19	1.1	0.8	0.2
Jun-19	3.2	1.2	0.6
Sep-19	1.0	0.8	0.4
Dec-19	-5.1	-0.7	0.4
Mar-20	-0.1	0.5	0.4
Jun-20	1.4	-0.5	-0.1
Sep-20	1.0	0.7	0.0
Dec-20	3.8	1.3	0.4
Mar-21	6.9	1.9	0.5
Jun-21	9.6	2.7	0.9
Sep-21	0.2	1.3	0.8
Dec-21	-6.9	0.0	1.3
Mar-22	8.2	3.3	1.5
Jun-22	7.4	3.7	1.7
Sep-22	-4.5	0.8	2.0
Dec-22	-2.6	0.9	1.6
Mar-23	1.6	1.3	1.0
Jun-23	-6.6	-0.8	1.2
Sep-23	-2.3	0.8	1.3
Dec-23	3.0	1.5	1.1
Mar-24	-0.8	1.1	0.9
Jun-24	-3.6	0.0	0.9
Sep-24	-2.5	0.1	0.7

Quarterly growth in prices, seasonally adjusted

["","Terms of trade (RHS)","GDP IPD (LHS)","DFD IPD (LHS)"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[4.5],[10.800000000000001],[3.7999999999999998],[-4.2999999999999998],[0.29999999999999999],[-0.10000000000000001],[1.3999999999999999],[0.5],[1.5],[2.2000000000000002],[1.1000000000000001],[3.2000000000000002],[1],[-5.0999999999999996],[-0.10000000000000001],[1.3999999999999999],[1],[3.7999999999999998],[6.9000000000000004],[9.5999999999999996],[0.20000000000000001],[-6.9000000000000004],[8.1999999999999993],[7.4000000000000004],[-4.5],[-2.6000000000000001],[1.6000000000000001],[-6.5999999999999996],[-2.2999999999999998],[3],[-0.80000000000000004],[-3.6000000000000001],[-2.5]],[[1.3],[2.2000000000000002],[1.5],[-0.59999999999999998],[0.40000000000000002],[0.20000000000000001],[0.90000000000000002],[0.59999999999999998],[1.2],[0.80000000000000004],[0.80000000000000004],[1.2],[0.80000000000000004],[-0.69999999999999996],[0.5],[-0.5],[0.69999999999999996],[1.3],[1.8999999999999999],[2.7000000000000002],[1.3],[0],[3.2999999999999998],[3.7000000000000002],[0.80000000000000004],[0.90000000000000002],[1.3],[-0.80000000000000004],[0.80000000000000004],[1.5],[1.1000000000000001],[0],[0.10000000000000001]],[[0.20000000000000001],[0.20000000000000001],[0.40000000000000002],[0.5],[0.20000000000000001],[0.5],[0.5],[0.5],[0.59999999999999998],[0.5],[0.20000000000000001],[0.59999999999999998],[0.40000000000000002],[0.40000000000000002],[0.40000000000000002],[-0.10000000000000001],[0],[0.40000000000000002],[0.5],[0.90000000000000002],[0.80000000000000004],[1.3],[1.5],[1.7],[2],[1.6000000000000001],[1],[1.2],[1.3],[1.1000000000000001],[0.90000000000000002],[0.90000000000000002],[0.69999999999999996]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-3","axis_max":"5","tick_interval":"1","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false},{"value":"1","axis_id":"1","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-9","axis_max":"15","tick_interval":"3","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Public demand supports growth

Domestic final demand contributed 0.6 percentage points to GDP growth.

The public sector supported domestic demand through government expenditure (+0.3ppt) and public investment (+0.3ppt). Private demand through household consumption and business investment were weak and had no contribution to GDP growth.

Net trade contributed 0.1 percentage points to GDP growth as imports (-0.3%) fell and exports (+0.2%) rose.

Changes in inventories detracted 0.4 percentage points from GDP growth, as a drawdown in inventories followed a buildup in the June quarter. Mining inventories were rundown as exports exceeded production during the quarter. Retail Trade inventories were rundown as subdued household demand saw previously imported stocks not replenished, particularly in clothing, household items and motor vehicles.

Contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted
	GDP (ppt)	Public demand (ppt)	Private demand (ppt)	Changes in inventories (ppt)	Net trade (ppt)
Sep-16	0.0	0.2	0.0	0.1	-0.2
Dec-16	1.2	0.5	0.7	-0.4	0.4
Mar-17	0.3	0.3	0.5	0.3	-1.5
Jun-17	0.6	0.6	0.1	-0.6	0.6
Sep-17	0.9	-0.3	1.3	0.4	-0.1
Dec-17	0.4	0.5	0.4	0.0	-0.6
Mar-18	1.0	0.3	0.7	0.0	0.0
Jun-18	0.7	-0.1	0.4	0.3	0.2
Sep-18	0.4	0.6	-0.1	-0.3	0.6
Dec-18	0.2	0.2	-0.1	0.0	-0.1
Mar-19	0.7	0.3	0.0	0.0	0.2
Jun-19	0.3	0.5	-0.2	-0.5	0.5
Sep-19	0.6	0.4	0.0	0.2	0.1
Dec-19	0.6	0.3	0.1	-0.2	0.0
Mar-20	-0.1	0.5	-0.8	-0.1	0.3
Jun-20	-6.7	0.2	-7.6	-0.1	0.9
Sep-20	3.5	0.8	4.0	0.9	-2.1
Dec-20	3.4	0.4	3.3	-0.4	0.1
Mar-21	2.2	0.1	1.9	0.6	-0.2
Jun-21	0.8	0.6	0.9	0.2	-1.1
Sep-21	-1.7	0.7	-2.2	-0.7	0.7
Dec-21	3.6	0.2	3.3	0.7	-0.6
Mar-22	1.0	0.7	1.4	0.6	-1.6
Jun-22	1.0	0.0	1.1	-0.7	0.4
Sep-22	0.4	-0.1	0.5	0.8	-0.8
Dec-22	0.8	0.2	0.4	-0.5	1.1
Mar-23	0.5	0.2	0.6	0.1	-0.5
Jun-23	0.3	0.4	0.6	-1.3	0.5
Sep-23	0.5	0.5	0.1	0.4	-0.3
Dec-23	0.2	0.0	0.2	-0.1	0.1
Mar-24	0.2	0.2	0.3	0.7	-1.3
Jun-24	0.2	0.2	0.0	-0.3	0.1
Sep-24	0.3	0.6	0.0	-0.4	0.1

Contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted

["","GDP","Public demand","Private demand","Changes in inventories","Net trade"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[0],[1.2],[0.29999999999999999],[0.59999999999999998],[0.90000000000000002],[0.40000000000000002],[1],[0.69999999999999996],[0.40000000000000002],[0.20000000000000001],[0.69999999999999996],[0.29999999999999999],[0.59999999999999998],[0.59999999999999998],[-0.10000000000000001],[-6.7000000000000002],[3.5],[3.3999999999999999],[2.2000000000000002],[0.80000000000000004],[-1.7],[3.6000000000000001],[1],[1],[0.40000000000000002],[0.80000000000000004],[0.5],[0.29999999999999999],[0.5],[0.20000000000000001],[0.20000000000000001],[0.20000000000000001],[0.29999999999999999]],[[0.20000000000000001],[0.5],[0.29999999999999999],[0.59999999999999998],[-0.29999999999999999],[0.5],[0.29999999999999999],[-0.10000000000000001],[0.59999999999999998],[0.20000000000000001],[0.29999999999999999],[0.5],[0.40000000000000002],[0.29999999999999999],[0.5],[0.20000000000000001],[0.80000000000000004],[0.40000000000000002],[0.10000000000000001],[0.59999999999999998],[0.69999999999999996],[0.20000000000000001],[0.69999999999999996],[0],[-0.10000000000000001],[0.20000000000000001],[0.20000000000000001],[0.40000000000000002],[0.5],[0],[0.20000000000000001],[0.20000000000000001],[0.59999999999999998]],[[0],[0.69999999999999996],[0.5],[0.10000000000000001],[1.3],[0.40000000000000002],[0.69999999999999996],[0.40000000000000002],[-0.10000000000000001],[-0.10000000000000001],[0],[-0.20000000000000001],[0],[0.10000000000000001],[-0.80000000000000004],[-7.5999999999999996],[4],[3.2999999999999998],[1.8999999999999999],[0.90000000000000002],[-2.2000000000000002],[3.2999999999999998],[1.3999999999999999],[1.1000000000000001],[0.5],[0.40000000000000002],[0.59999999999999998],[0.59999999999999998],[0.10000000000000001],[0.20000000000000001],[0.29999999999999999],[0],[0]],[[0.10000000000000001],[-0.40000000000000002],[0.29999999999999999],[-0.59999999999999998],[0.40000000000000002],[0],[0],[0.29999999999999999],[-0.29999999999999999],[0],[0],[-0.5],[0.20000000000000001],[-0.20000000000000001],[-0.10000000000000001],[-0.10000000000000001],[0.90000000000000002],[-0.40000000000000002],[0.59999999999999998],[0.20000000000000001],[-0.69999999999999996],[0.69999999999999996],[0.59999999999999998],[-0.69999999999999996],[0.80000000000000004],[-0.5],[0.10000000000000001],[-1.3],[0.40000000000000002],[-0.10000000000000001],[0.69999999999999996],[-0.29999999999999999],[-0.40000000000000002]],[[-0.20000000000000001],[0.40000000000000002],[-1.5],[0.59999999999999998],[-0.10000000000000001],[-0.59999999999999998],[0],[0.20000000000000001],[0.59999999999999998],[-0.10000000000000001],[0.20000000000000001],[0.5],[0.10000000000000001],[0],[0.29999999999999999],[0.90000000000000002],[-2.1000000000000001],[0.10000000000000001],[-0.20000000000000001],[-1.1000000000000001],[0.69999999999999996],[-0.59999999999999998],[-1.6000000000000001],[0.40000000000000002],[-0.80000000000000004],[1.1000000000000001],[-0.5],[0.5],[-0.29999999999999999],[0.10000000000000001],[-1.3],[0.10000000000000001],[0.10000000000000001]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"ppt","axis_units":"","tooltip_units":"(ppt)","table_units":"(ppt)","axis_min":"-10","axis_max":"8","tick_interval":"2","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Energy rebates drive growth in government spending

Government consumption increased 1.4%. State and local general government expenditure (+2.2%) led the rise as additional state-based energy bill relief schemes were implemented in the quarter. The Federal energy bill relief fund was also extended and expanded from July 2024. Other social benefits to households such as NDIS and aged care saw subdued growth in the September quarter.

National non-defence expenditure (+0.9%) also contributed to the rise, with rises in employee and non-employee expenses as several large agencies had received additional funding to improve and expand service delivery required to meet demand.

General government final consumption expenditure, volume measures, seasonally adjusted
	National (%)	State and local (%)	Total general government (%)
Sep-16	1.1	1.8	1.5
Dec-16	-0.9	0.2	-0.3
Mar-17	1.9	1.3	1.6
Jun-17	0.2	1.9	1.2
Sep-17	0.5	-0.6	-0.1
Dec-17	2.0	1.5	1.7
Mar-18	1.9	1.0	1.3
Jun-18	2.0	-1.0	0.3
Sep-18	1.5	0.5	0.9
Dec-18	2.9	0.8	1.7
Mar-19	1.5	0.9	1.1
Jun-19	4.1	2.6	3.3
Sep-19	1.9	0.2	1.0
Dec-19	2.6	0.5	1.4
Mar-20	2.3	2.3	2.3
Jun-20	-0.1	3.9	2.1
Sep-20	6.0	-1.1	2.1
Dec-20	1.7	0.2	0.9
Mar-21	-0.1	0.5	0.2
Jun-21	1.6	1.9	1.7
Sep-21	3.3	2.9	3.1
Dec-21	0.5	1.5	1.0
Mar-22	3.7	1.6	2.6
Jun-22	-0.4	-0.5	-0.5
Sep-22	-1.1	0.3	-0.3
Dec-22	1.7	0.1	0.8
Mar-23	0.3	-0.1	0.1
Jun-23	1.0	0.9	0.9
Sep-23	1.4	1.2	1.3
Dec-23	1.2	0.0	0.5
Mar-24	1.8	0.7	1.2
Jun-24	2.0	0.9	1.4
Sep-24	0.5	2.2	1.4

General government final consumption expenditure, volume measures, seasonally adjusted

["","National","State and local","Total general government"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[1.1000000000000001],[-0.90000000000000002],[1.8999999999999999],[0.20000000000000001],[0.5],[2],[1.8999999999999999],[2],[1.5],[2.8999999999999999],[1.5],[4.0999999999999996],[1.8999999999999999],[2.6000000000000001],[2.2999999999999998],[-0.10000000000000001],[6],[1.7],[-0.10000000000000001],[1.6000000000000001],[3.2999999999999998],[0.5],[3.7000000000000002],[-0.40000000000000002],[-1.1000000000000001],[1.7],[0.29999999999999999],[1],[1.3999999999999999],[1.2],[1.8],[2],[0.5]],[[1.8],[0.20000000000000001],[1.3],[1.8999999999999999],[-0.59999999999999998],[1.5],[1],[-1],[0.5],[0.80000000000000004],[0.90000000000000002],[2.6000000000000001],[0.20000000000000001],[0.5],[2.2999999999999998],[3.8999999999999999],[-1.1000000000000001],[0.20000000000000001],[0.5],[1.8999999999999999],[2.8999999999999999],[1.5],[1.6000000000000001],[-0.5],[0.29999999999999999],[0.10000000000000001],[-0.10000000000000001],[0.90000000000000002],[1.2],[0],[0.69999999999999996],[0.90000000000000002],[2.2000000000000002]],[[1.5],[-0.29999999999999999],[1.6000000000000001],[1.2],[-0.10000000000000001],[1.7],[1.3],[0.29999999999999999],[0.90000000000000002],[1.7],[1.1000000000000001],[3.2999999999999998],[1],[1.3999999999999999],[2.2999999999999998],[2.1000000000000001],[2.1000000000000001],[0.90000000000000002],[0.20000000000000001],[1.7],[3.1000000000000001],[1],[2.6000000000000001],[-0.5],[-0.29999999999999999],[0.80000000000000004],[0.10000000000000001],[0.90000000000000002],[1.3],[0.5],[1.2],[1.3999999999999999],[1.3999999999999999]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-2","axis_max":"8","tick_interval":"2","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Public investment returns to strength

Public investment (+6.3%) increased after three quarters of falls. General government investment rose though imports of defence equipment and investment in hospital and road projects. Investment by state and local public corporations also contributed to the rise with increased activity across states on major road and renewable projects.

Private investment (+0.1%) increased modestly driven by dwelling construction through improvement in work done on new home commencements. This follows the recent period of construction bottlenecks due to labour and materials shortages. Ownership transfer costs (+1.6%) rose due to continued turnover in the property market.

Non-dwelling construction (-2.7%) partly offset the rise, although remained at elevated levels with recent investment in warehouses and data centres.

Private and public investment, chain volume measures, seasonally adjusted
	Private investment quarterly growth (LHS) (%)	Public investment quarterly growth (LHS) (%)	Total investment (%)
Sep-21	0.8	1.0	0.8
Dec-21	0.6	-1.0	0.2
Mar-22	0.8	1.8	1.0
Jun-22	-0.6	1.9	0.0
Sep-22	0.6	0.3	0.5
Dec-22	-0.8	0.5	-0.5
Mar-23	2.2	3.2	2.4
Jun-23	1.7	4.4	2.3
Sep-23	0.6	3.3	1.2
Dec-23	0.5	-1.8	0.0
Mar-24	0.2	-1.0	-0.1
Jun-24	0.5	-1.1	0.2
Sep-24	0.1	6.3	1.5

Private and public investment, chain volume measures, seasonally adjusted

["","Private investment quarterly growth (LHS)","Public investment quarterly growth (LHS)","Total investment"]

[["Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[0.80000000000000004],[0.59999999999999998],[0.80000000000000004],[-0.59999999999999998],[0.59999999999999998],[-0.80000000000000004],[2.2000000000000002],[1.7],[0.59999999999999998],[0.5],[0.20000000000000001],[0.5],[0.10000000000000001]],[[1],[-1],[1.8],[1.8999999999999999],[0.29999999999999999],[0.5],[3.2000000000000002],[4.4000000000000004],[3.2999999999999998],[-1.8],[-1],[-1.1000000000000001],[6.2999999999999998]],[[0.80000000000000004],[0.20000000000000001],[1],[0],[0.5],[-0.5],[2.3999999999999999],[2.2999999999999998],[1.2],[0],[-0.10000000000000001],[0.20000000000000001],[1.5]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"2","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-2","axis_max":"8","tick_interval":"2","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Household consumption remains weak

Household consumption (0.0%) was unchanged from the previous quarter.

Essential spending fell 0.1% led by a strong fall in electricity, gas and other fuels (-16.7%). The fall is from reduced underlying demand for heating from milder winter conditions, combined with expansion of energy bill relief schemes which reduced household electricity bills. Slightly offsetting the fall are the other essential categories, including rent and other dwelling services (+0.4%) and health (+0.8%), which remain among the top contributors to household consumption, in line with continued population growth.

Discretionary spending rose 0.1% led by clothing and footwear (+2.2%). Spending by Australian travellers overseas also contributed to growth in tourism categories including hotels, cafes and restaurants, and recreation and culture.

Discretionary and essential consumption contributions to quarterly growth in GDP, volume measures, seasonally adjusted
	Total HFCE (ppt)	Essential consumption (ppt)	Discretionary consumption (ppt)
Sep-16	0.3	0.2	0.1
Dec-16	0.4	0.3	0.1
Mar-17	0.3	0.2	0.0
Jun-17	0.3	0.2	0.2
Sep-17	0.4	0.3	0.1
Dec-17	0.5	0.1	0.4
Mar-18	0.3	0.2	0.2
Jun-18	0.4	0.2	0.1
Sep-18	0.1	0.1	0.0
Dec-18	0.1	0.2	0.0
Mar-19	0.1	0.1	0.0
Jun-19	0.2	0.1	0.1
Sep-19	-0.1	0.1	-0.2
Dec-19	0.2	0.1	0.1
Mar-20	-0.7	0.1	-0.8
Jun-20	-6.6	-1.7	-4.9
Sep-20	3.8	1.5	2.2
Dec-20	2.4	0.3	2.1
Mar-21	0.7	0.1	0.6
Jun-21	0.5	0.3	0.2
Sep-21	-2.4	-0.1	-2.2
Dec-21	3.1	0.4	2.7
Mar-22	1.2	0.0	1.2
Jun-22	1.2	0.3	0.9
Sep-22	0.4	0.1	0.3
Dec-22	0.5	0.3	0.2
Mar-23	0.2	0.2	0.0
Jun-23	0.3	0.2	0.1
Sep-23	0.0	-0.1	0.1
Dec-23	0.1	0.3	-0.2
Mar-24	0.3	0.1	0.2
Jun-24	-0.1	0.0	-0.2
Sep-24	0.0	0.0	0.0

Discretionary and essential consumption contributions to quarterly growth in GDP, volume measures, seasonally adjusted

["","Total HFCE","Essential consumption","Discretionary consumption"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[0.29999999999999999],[0.40000000000000002],[0.29999999999999999],[0.29999999999999999],[0.40000000000000002],[0.5],[0.29999999999999999],[0.40000000000000002],[0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[0.20000000000000001],[-0.10000000000000001],[0.20000000000000001],[-0.69999999999999996],[-6.5999999999999996],[3.7999999999999998],[2.3999999999999999],[0.69999999999999996],[0.5],[-2.3999999999999999],[3.1000000000000001],[1.2],[1.2],[0.40000000000000002],[0.5],[0.20000000000000001],[0.29999999999999999],[0],[0.10000000000000001],[0.29999999999999999],[-0.10000000000000001],[0]],[[0.20000000000000001],[0.29999999999999999],[0.20000000000000001],[0.20000000000000001],[0.29999999999999999],[0.10000000000000001],[0.20000000000000001],[0.20000000000000001],[0.10000000000000001],[0.20000000000000001],[0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[-1.7],[1.5],[0.29999999999999999],[0.10000000000000001],[0.29999999999999999],[-0.10000000000000001],[0.40000000000000002],[0],[0.29999999999999999],[0.10000000000000001],[0.29999999999999999],[0.20000000000000001],[0.20000000000000001],[-0.10000000000000001],[0.29999999999999999],[0.10000000000000001],[0],[0]],[[0.10000000000000001],[0.10000000000000001],[0],[0.20000000000000001],[0.10000000000000001],[0.40000000000000002],[0.20000000000000001],[0.10000000000000001],[0],[0],[0],[0.10000000000000001],[-0.20000000000000001],[0.10000000000000001],[-0.80000000000000004],[-4.9000000000000004],[2.2000000000000002],[2.1000000000000001],[0.59999999999999998],[0.20000000000000001],[-2.2000000000000002],[2.7000000000000002],[1.2],[0.90000000000000002],[0.29999999999999999],[0.20000000000000001],[0],[0.10000000000000001],[0.10000000000000001],[-0.20000000000000001],[0.20000000000000001],[-0.20000000000000001],[0]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"ppt","axis_units":"","tooltip_units":"(ppt)","table_units":"(ppt)","axis_min":"-8","axis_max":"6","tick_interval":"2","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Net trade contributed to growth

Net trade contributed 0.1ppt to GDP growth as imports (-0.3%) fell and exports (+0.2%) grew modestly.

Growth in exports was due to a rise in goods (+0.9%) led by coal exports. Increased demand for cooling drove demand for thermal coal in Asian markets such as Japan. Exports of services (-3.6%) partly offset the rise through a fall in education related travel, as international student arrivals fell below the September quarter average.

The fall in imports was led by goods (-1.5%). Imports of consumption goods fell as weaker household demand for electric vehicles saw a decrease in imports of non-industrial transport equipment. Imports of services (+3.0%) partly offset the falls, driven by travel services as Australian residents spent more time overseas in European countries.

Net trade contribution to quarterly growth in GDP, chain volume measures, seasonally adjusted
	Net trade (ppt)	Imports of goods and services (ppt)	Exports of goods and services (ppt)
Sep-16	-0.2	-0.5	0.3
Dec-16	0.4	-0.3	0.8
Mar-17	-1.5	-0.9	-0.6
Jun-17	0.6	0.0	0.5
Sep-17	-0.1	-0.5	0.4
Dec-17	-0.6	-0.2	-0.4
Mar-18	0.0	-0.8	0.8
Jun-18	0.2	-0.1	0.3
Sep-18	0.6	0.4	0.2
Dec-18	-0.1	-0.1	0.0
Mar-19	0.2	0.1	0.1
Jun-19	0.5	-0.1	0.6
Sep-19	0.1	0.1	0.1
Dec-19	0.0	0.1	-0.1
Mar-20	0.3	1.2	-0.9
Jun-20	0.9	2.7	-1.8
Sep-20	-2.1	-1.1	-0.9
Dec-20	0.1	-1.0	1.1
Mar-21	-0.2	-0.3	0.2
Jun-21	-1.1	-0.4	-0.7
Sep-21	0.7	0.6	0.0
Dec-21	-0.6	-0.4	-0.2
Mar-22	-1.6	-1.6	0.0
Jun-22	0.4	-0.5	0.9
Sep-22	-0.8	-0.9	0.1
Dec-22	1.1	0.5	0.6
Mar-23	-0.5	-0.6	0.1
Jun-23	0.5	-0.6	1.0
Sep-23	-0.3	-0.6	0.3
Dec-23	0.1	0.6	-0.5
Mar-24	-1.3	-1.3	0.0
Jun-24	0.1	-0.1	0.2
Sep-24	0.1	0.1	0.0

Net trade contribution to quarterly growth in GDP, chain volume measures, seasonally adjusted

["","Net trade","Imports of goods and services","Exports of goods and services"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[-0.20000000000000001],[0.40000000000000002],[-1.5],[0.59999999999999998],[-0.10000000000000001],[-0.59999999999999998],[0],[0.20000000000000001],[0.59999999999999998],[-0.10000000000000001],[0.20000000000000001],[0.5],[0.10000000000000001],[0],[0.29999999999999999],[0.90000000000000002],[-2.1000000000000001],[0.10000000000000001],[-0.20000000000000001],[-1.1000000000000001],[0.69999999999999996],[-0.59999999999999998],[-1.6000000000000001],[0.40000000000000002],[-0.80000000000000004],[1.1000000000000001],[-0.5],[0.5],[-0.29999999999999999],[0.10000000000000001],[-1.3],[0.10000000000000001],[0.10000000000000001]],[[-0.5],[-0.29999999999999999],[-0.90000000000000002],[0],[-0.5],[-0.20000000000000001],[-0.80000000000000004],[-0.10000000000000001],[0.40000000000000002],[-0.10000000000000001],[0.10000000000000001],[-0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[1.2],[2.7000000000000002],[-1.1000000000000001],[-1],[-0.29999999999999999],[-0.40000000000000002],[0.59999999999999998],[-0.40000000000000002],[-1.6000000000000001],[-0.5],[-0.90000000000000002],[0.5],[-0.59999999999999998],[-0.59999999999999998],[-0.59999999999999998],[0.59999999999999998],[-1.3],[-0.10000000000000001],[0.10000000000000001]],[[0.29999999999999999],[0.80000000000000004],[-0.59999999999999998],[0.5],[0.40000000000000002],[-0.40000000000000002],[0.80000000000000004],[0.29999999999999999],[0.20000000000000001],[0],[0.10000000000000001],[0.59999999999999998],[0.10000000000000001],[-0.10000000000000001],[-0.90000000000000002],[-1.8],[-0.90000000000000002],[1.1000000000000001],[0.20000000000000001],[-0.69999999999999996],[0],[-0.20000000000000001],[0],[0.90000000000000002],[0.10000000000000001],[0.59999999999999998],[0.10000000000000001],[1],[0.29999999999999999],[-0.5],[0],[0.20000000000000001],[0]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"ppt","axis_units":"","tooltip_units":"(ppt)","table_units":"(ppt)","axis_min":"-3","axis_max":"4","tick_interval":"1","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Industry growth supported by the non-market sector

Gross value added (GVA) rose 0.3% this quarter, with rises in 11 out of 19 industries.

The three non-market industries all contributed to GDP with strong growth in the September quarter. Public Administration and Safety (+1.3%) rose driven by increased activity in the public sector. Health Care and Social Assistance (+1.2%) rose driven by continued increase in GP attendance during an adverse flu season.

GVA was mixed across the market sector industries with Mining being the largest detractor from a fall in iron ore mining as site maintenance and shutdowns hampered production. Agriculture was the largest contributor, driven by livestock from increased meat export demand and grains from favourable weather conditions in cropping regions. Construction also contributed to the rise, aligned with strength in public infrastructure projects and dwelling investment.

Gross value added by industry, chain volume measures, seasonally adjusted
	Quarterly growth (%)
Agriculture, Forestry and Fishing	6.6
Mining	-0.8
Manufacturing	-0.8
Electricity, Gas, Water and Waste Services	0.5
Construction	0.9
Wholesale Trade	-0.3
Retail Trade	0.6
Accommodation and Food Services	-0.4
Transport, Postal and Warehousing	-0.9
Information Media and Telecommunications	1.2
Financial and Insurance Services	0.9
Rental, Hiring and Real Estate Services	0.4
Professional, Scientific and Technical Services	-1.0
Administrative and Support Services	-1.0
Public Administration and Safety	1.3
Education and Training	1.3
Health Care and Social Assistance	1.2
Arts and Recreation Services	2.4
Other Services	-1.0

Gross value added by industry, chain volume measures, seasonally adjusted

["","Quarterly growth"]

[["Agriculture, Forestry and Fishing","Mining","Manufacturing","Electricity, Gas, Water and Waste Services","Construction","Wholesale Trade","Retail Trade","Accommodation and Food Services","Transport, Postal and Warehousing","Information Media and Telecommunications","Financial and Insurance Services","Rental, Hiring and Real Estate Services","Professional, Scientific and Technical Services","Administrative and Support Services","Public Administration and Safety","Education and Training","Health Care and Social Assistance","Arts and Recreation Services","Other Services"],[[6.5999999999999996],[-0.80000000000000004],[-0.80000000000000004],[0.5],[0.90000000000000002],[-0.29999999999999999],[0.59999999999999998],[-0.40000000000000002],[-0.90000000000000002],[1.2],[0.90000000000000002],[0.40000000000000002],[-1],[-1],[1.3],[1.3],[1.2],[2.3999999999999999],[-1]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-2","axis_max":"8","tick_interval":"1","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Mining industry led the decrease in profits

Gross operating surplus (GOS) fell 1.5%. Private non-financial corporations (-3.9%) led the fall as Mining operating surplus (-9.1%) declined for a third consecutive quarter. Mining commodity prices fell across coal, mineral ores and other mineral fuels due to softer global demand, largely attributable to weakness in the Chinese construction sector reducing demand for steel manufacturing.

Non-mining industries fell slightly in response to decreased activity, lower sales revenue and higher operating expenses for industries including Wholesale Trade, Professional Scientific and Technical Services and Manufacturing.

Financial corporations GOS (+1.1%) rose with growth in loan and deposit balances, while margins narrowed. Increased loan balances were driven by dwelling loans for owner-occupier and investor mortgages consistent with recent strength in housing loan commitments. Deposit balances rose as tax refunds were deposited into high interest saving and offset accounts.

Dwellings owned by persons GOS increased 2.6%, reflecting population growth and low vacancy rates.

Quarterly growth in gross operating surplus, current prices, seasonally adjusted
	Total GOS (%)	Private non-financial corporations (%)	Financial corporations (%)	Dwellings owned by persons (%)
Sep-16	3.1	5.2	1.4	1.8
Dec-16	8.5	16.4	1.2	1.4
Mar-17	3.4	5.8	1.5	1.0
Jun-17	-1.3	-3.2	1.0	1.2
Sep-17	1.0	1.6	0.0	0.9
Dec-17	0.2	-0.3	-0.8	1.4
Mar-18	3.4	5.2	0.2	1.8
Jun-18	0.4	0.0	0.0	1.0
Sep-18	2.7	4.0	1.0	1.5
Dec-18	2.7	4.5	1.2	0.7
Mar-19	3.0	4.8	1.3	0.7
Jun-19	0.6	0.8	-0.2	0.8
Sep-19	1.9	2.9	0.4	1.1
Dec-19	-0.2	-1.1	-0.2	1.5
Mar-20	-0.6	-1.9	0.4	1.2
Jun-20	9.6	18.6	-2.0	-1.0
Sep-20	3.7	5.3	2.1	1.1
Dec-20	-5.2	-9.7	1.6	1.3
Mar-21	0.4	-0.2	1.2	1.2
Jun-21	5.0	7.8	1.3	0.9
Sep-21	3.1	4.6	0.2	0.9
Dec-21	1.0	1.3	0.0	0.7
Mar-22	7.2	11.1	0.3	1.8
Jun-22	8.8	13.0	2.9	0.7
Sep-22	-0.6	-2.4	6.3	1.3
Dec-22	0.1	-1.1	1.6	2.1
Mar-23	3.1	4.1	0.7	2.9
Jun-23	-3.2	-6.6	1.3	3.3
Sep-23	-0.6	-2.9	1.7	3.6
Dec-23	1.9	1.5	1.5	3.1
Mar-24	1.5	0.8	1.4	2.8
Jun-24	-1.0	-3.5	1.2	2.8
Sep-24	-1.5	-3.9	1.1	2.6

Quarterly growth in gross operating surplus, current prices, seasonally adjusted

["","Total GOS","Private non-financial corporations","Financial corporations","Dwellings owned by persons"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[3.1000000000000001],[8.5],[3.3999999999999999],[-1.3],[1],[0.20000000000000001],[3.3999999999999999],[0.40000000000000002],[2.7000000000000002],[2.7000000000000002],[3],[0.59999999999999998],[1.8999999999999999],[-0.20000000000000001],[-0.59999999999999998],[9.5999999999999996],[3.7000000000000002],[-5.2000000000000002],[0.40000000000000002],[5],[3.1000000000000001],[1],[7.2000000000000002],[8.8000000000000007],[-0.59999999999999998],[0.10000000000000001],[3.1000000000000001],[-3.2000000000000002],[-0.59999999999999998],[1.8999999999999999],[1.5],[-1],[-1.5]],[[5.2000000000000002],[16.399999999999999],[5.7999999999999998],[-3.2000000000000002],[1.6000000000000001],[-0.29999999999999999],[5.2000000000000002],[0],[4],[4.5],[4.7999999999999998],[0.80000000000000004],[2.8999999999999999],[-1.1000000000000001],[-1.8999999999999999],[18.600000000000001],[5.2999999999999998],[-9.6999999999999993],[-0.20000000000000001],[7.7999999999999998],[4.5999999999999996],[1.3],[11.1],[13],[-2.3999999999999999],[-1.1000000000000001],[4.0999999999999996],[-6.5999999999999996],[-2.8999999999999999],[1.5],[0.80000000000000004],[-3.5],[-3.8999999999999999]],[[1.3999999999999999],[1.2],[1.5],[1],[0],[-0.80000000000000004],[0.20000000000000001],[0],[1],[1.2],[1.3],[-0.20000000000000001],[0.40000000000000002],[-0.20000000000000001],[0.40000000000000002],[-2],[2.1000000000000001],[1.6000000000000001],[1.2],[1.3],[0.20000000000000001],[0],[0.29999999999999999],[2.8999999999999999],[6.2999999999999998],[1.6000000000000001],[0.69999999999999996],[1.3],[1.7],[1.5],[1.3999999999999999],[1.2],[1.1000000000000001]],[[1.8],[1.3999999999999999],[1],[1.2],[0.90000000000000002],[1.3999999999999999],[1.8],[1],[1.5],[0.69999999999999996],[0.69999999999999996],[0.80000000000000004],[1.1000000000000001],[1.5],[1.2],[-1],[1.1000000000000001],[1.3],[1.2],[0.90000000000000002],[0.90000000000000002],[0.69999999999999996],[1.8],[0.69999999999999996],[1.3],[2.1000000000000001],[2.8999999999999999],[3.2999999999999998],[3.6000000000000001],[3.1000000000000001],[2.7999999999999998],[2.7999999999999998],[2.6000000000000001]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-10","axis_max":"20","tick_interval":"5","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Compensation of employees continued to rise

Compensation of employees (COE) increased 1.4%. The labour market remained tight with the unemployment rate at 4.1%, and increasing hours worked (+0.8%). Full-time employment increased 1.2%, outpacing part-time employment growth for the first time since September quarter 2023. However, Wage Price Index growth slowed from the September quarter 2023 peak, providing an indication that conditions may be softening.

Private COE (+1.2%) led the rise, with increases in wages, bonuses, headcounts and new enterprise agreements in industries including Information Media and Telecommunications, Construction, Financial and Insurance Services. Public COE rose 2.0%, from an increased workforce across a number of government agencies, aligned with improvement and expansion of services delivery. Wage rises for the Victorian and Queensland public service, related to health and education, also contributed to the rise in public COE.

Quarterly growth in public and private compensation of employees, current prices, seasonally adjusted
	Private COE (%)	Public COE (%)	Total COE (%)
Sep-19	1.0	0.8	1.0
Dec-19	1.3	0.9	1.2
Mar-20	0.5	1.3	0.7
Jun-20	-2.6	2.0	-1.6
Sep-20	2.1	1.4	1.9
Dec-20	1.8	1.7	1.8
Mar-21	2.8	-0.8	1.9
Jun-21	2.4	1.1	2.1
Sep-21	-0.4	3.5	0.5
Dec-21	2.9	1.7	2.7
Mar-22	2.4	0.8	2.0
Jun-22	3.4	1.2	2.9
Sep-22	2.7	2.8	2.7
Dec-22	2.2	0.8	1.9
Mar-23	1.9	2.5	2.0
Jun-23	2.0	1.2	1.8
Sep-23	2.5	1.9	2.4
Dec-23	1.5	2.8	1.8
Mar-24	0.6	2.0	0.9
Jun-24	1.0	1.8	1.2
Sep-24	1.2	2.0	1.4

Quarterly growth in public and private compensation of employees, current prices, seasonally adjusted

["","Private COE","Public COE","Total COE"]

[["Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[1],[1.3],[0.5],[-2.6000000000000001],[2.1000000000000001],[1.8],[2.7999999999999998],[2.3999999999999999],[-0.40000000000000002],[2.8999999999999999],[2.3999999999999999],[3.3999999999999999],[2.7000000000000002],[2.2000000000000002],[1.8999999999999999],[2],[2.5],[1.5],[0.59999999999999998],[1],[1.2]],[[0.80000000000000004],[0.90000000000000002],[1.3],[2],[1.3999999999999999],[1.7],[-0.80000000000000004],[1.1000000000000001],[3.5],[1.7],[0.80000000000000004],[1.2],[2.7999999999999998],[0.80000000000000004],[2.5],[1.2],[1.8999999999999999],[2.7999999999999998],[2],[1.8],[2]],[[1],[1.2],[0.69999999999999996],[-1.6000000000000001],[1.8999999999999999],[1.8],[1.8999999999999999],[2.1000000000000001],[0.5],[2.7000000000000002],[2],[2.8999999999999999],[2.7000000000000002],[1.8999999999999999],[2],[1.8],[2.3999999999999999],[1.8],[0.90000000000000002],[1.2],[1.3999999999999999]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"-4","axis_max":"4","tick_interval":"1","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Household saving ratio increased

The household saving to income ratio rose to 3.2%, as growth in gross disposable income outpaced growth in nominal household consumption.

Gross disposable income rose 1.5% as gross income rose and income payable fell. Compensation of employees (+1.3%) remained the main source of growth in gross income. A fall in income tax (-3.8%), which included the implementation of the Stage 3 tax cuts from 1 July 2024, drove the fall in income payable.

Nominal household final consumption expenditure (+0.6%) detracted from household saving as prices for essential services including rent and insurance continued to rise.

Household saving ratio, seasonally adjusted
	Household saving ratio (%)
Sep-16	6.0
Dec-16	5.5
Mar-17	5.6
Jun-17	4.9
Sep-17	4.6
Dec-17	5.0
Mar-18	4.8
Jun-18	4.8
Sep-18	5.1
Dec-18	5.7
Mar-19	6.1
Jun-19	5.3
Sep-19	7.6
Dec-19	6.7
Mar-20	9.4
Jun-20	23.9
Sep-20	20.4
Dec-20	14.1
Mar-21	14.2
Jun-21	12.2
Sep-21	20.5
Dec-21	13.3
Mar-22	11.9
Jun-22	8.5
Sep-22	7.3
Dec-22	3.5
Mar-23	2.3
Jun-23	1.8
Sep-23	1.5
Dec-23	2.6
Mar-24	2.5
Jun-24	2.4
Sep-24	3.2

Household saving ratio, seasonally adjusted

["","Household saving ratio"]

[["Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24"],[[6],[5.5],[5.5999999999999996],[4.9000000000000004],[4.5999999999999996],[5],[4.7999999999999998],[4.7999999999999998],[5.0999999999999996],[5.7000000000000002],[6.0999999999999996],[5.2999999999999998],[7.5999999999999996],[6.7000000000000002],[9.4000000000000004],[23.899999999999999],[20.399999999999999],[14.1],[14.199999999999999],[12.199999999999999],[20.5],[13.300000000000001],[11.9],[8.5],[7.2999999999999998],[3.5],[2.2999999999999998],[1.8],[1.5],[2.6000000000000001],[2.5],[2.3999999999999999],[3.2000000000000002]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":"4","precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":"0","axis_max":"25","tick_interval":"5","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Expenditure

Expenditure
			Jun 24 to Sep 24 (% change)	Sep 23 to Sep 24 (% change)	Jun 24 to Sep 24 (ppt contribution to GDP growth)
Final consumption expenditure
	General government		1.4	4.7	0.3
	Households		-	0.4	-
	Total final consumption expenditure		0.4	1.7	0.3
Gross fixed capital formation
	Private
		Dwellings	1.2	-0.5	0.1
		Ownership transfer costs	1.6	7.9	-
		Non-dwelling construction	-2.7	-0.3	-0.1
		Machinery and equipment	1.0	-1.5	-
		Cultivated biological resources	-2.4	-13.6	-
		Intellectual property products	1.5	11.1	-
	Public		6.3	2.3	0.3
	Total gross fixed capital formation		1.5	1.6	0.4
Changes in inventories			na	na	-0.4
Gross national expenditure			0.2	1.5	0.2
Exports of goods and services			0.2	-1.1	-
Imports of goods and services			-0.3	2.7	0.1
Statistical discrepancy (E)			na	na	-
Gross domestic product			0.3	0.8	0.3

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

Final consumption expenditure (FCE) 0.4%

Gross fixed capital formation (GFCF) 1.5%

Changes in inventories

Exports and imports of goods and services

Income

Income estimates are in seasonally adjusted current prices

Income
		Jun 24 to Sep 24 (% change)	Sep 23 to Sep 24 (% change)	Jun 24 to Sep 24 (ppt contribution to GDP growth)
Compensation of employees		1.4	5.4	0.7
Gross operating surplus
	Private non-financial corporations	-3.9	-5.1	-0.8
	Other (a)	1.8	9.4	0.3
Gross mixed income		-1.2	0.8	-0.1
Taxes less subsidies on production and imports		4.5	6.7	0.4
Statistical discrepancy (I)		na	na	-0.1
Gross domestic product		0.4	3.5	0.4

- 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.

Compensation of employees (COE) 1.4%

Compensation of employees rose 1.4%, Private sector COE rose 1.2% and public sector COE rose 2.0%. Strength in private sector COE was driven by Construction, Financial and Insurance Services, and Information, Media and Telecommunications due to increased wages, redundancy payments and headcount. Public sector COE increased due to a rise in employee expenses in Commonwealth government agencies due to increased workforce. State and local governments contributed to the rise driven by wage rises and backpay for public sector workers and new enterprise bargaining agreements related to education services.
All states and territories recorded quarterly rises in COE. The largest increases were:

2.3% rise in New South Wales
1.9% rise in Western Australia
1.8% rise in Queensland

State compensation of employees, current prices, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
NSW	2.3	3.0
Vic.	1.2	3.5
Qld	1.8	9.7
SA	0.9	6.1
WA	1.9	6.2
Tas.	1.1	8.5
NT	1.0	9.3
ACT	1.7	11.9
Aust.	1.4	5.4

State compensation of employees, current prices, seasonally adjusted

["","Quarterly growth","Through the year"]

[["NSW","Vic.","Qld","SA","WA","Tas.","NT","ACT","Aust."],[[2.2999999999999998],[1.2],[1.8],[0.90000000000000002],[1.8999999999999999],[1.1000000000000001],[1],[1.7],[1.3999999999999999]],[[3],[3.5],[9.6999999999999993],[6.0999999999999996],[6.2000000000000002],[8.5],[9.3000000000000007],[11.9],[5.4000000000000004]]]

[]

[{"value":"0","axis_id":"0","axis_title":"","axis_units":"","tooltip_units":"","table_units":"","axis_min":null,"axis_max":null,"tick_interval":null,"precision":"-1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

[{"value":"0","axis_id":"0","axis_title":"%","axis_units":"","tooltip_units":"(%)","table_units":"(%)","axis_min":null,"axis_max":null,"tick_interval":"2","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

Gross operating surplus (GOS) -1.5%

Taxes less subsidies on production and imports 4.5%

Production

Production
	Jun 24 to Sep 24 (% change)	Sep 23 to Sep 24 (% change)	Jun 24 to Sep 24 (ppt contribution to GDP growth)
Agriculture, Forestry and Fishing	6.6	11.3	0.2
Mining	-0.8	-0.7	-0.1
Manufacturing	-0.8	-0.4	-
Electricity, Gas, Water and Waste Services	0.5	5.2	-
Construction	0.9	1.0	0.1
Wholesale Trade	-0.3	-3.9	-
Retail Trade	0.6	0.3	-
Accommodation and Food Services	-0.4	-2.4	-
Transport, Postal and Warehousing	-0.9	1.4	-
Information Media and Telecommunications	1.2	1.1	-
Financial and Insurance Services	0.9	2.7	0.1
Rental, Hiring and Real Estate Services	0.4	1.5	-
Professional, Scientific and Technical Services	-1.0	0.7	-0.1
Administrative and Support Services	-1.0	0.2	-
Public Administration and Safety	1.3	3.6	0.1
Education and Training	1.3	1.9	0.1
Health Care and Social Assistance	1.2	2.2	0.1
Arts and Recreation Services	2.4	3.9	-
Other Services	-1.0	-1.1	-
Ownership of dwellings	0.3	1.3	-
Taxes less subsidies on products	-0.7	0.3	-
Statistical discrepancy (P)	na	na	0.1
Gross domestic product	0.3	0.8	0.3

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

Agriculture, Forestry and Fishing 6.6%

Mining -0.8%

Manufacturing -0.8%

Electricity, Gas, Water and Waste Services 0.5%

Construction 0.9%

Wholesale Trade -0.3%

Retail Trade 0.6%

Accommodation and Food Services -0.4%

Transport, Postal and Warehousing -0.9%

Information Media and Telecommunications 1.2%

Financial and Insurance Services 0.9%

Rental, Hiring and Real Estate Services 0.4%

Professional, Scientific and Technical Services -1.0%

Administrative and Support Services -1.0%

Public Administration and Safety 1.3%

Health Care and Social Assistance 1.2%

Arts and Recreation Services 2.4%

Other Services -1.0%

State and territory final demand

State and territory final demand, percentage changes (a)
		Jun 24 to Sep 24
		NSW	Vic.	Qld	SA	WA	Tas.	NT	ACT	Aust.(b)
Final consumption expenditure
	General government	0.5	0.9	2.6	0.8	3.5	0.0	0.0	1.8	1.4
	Households	0.3	0.0	-0.8	-0.1	0.1	-0.7	0.2	0.3	0.0
Gross fixed capital formation
	Private	0.4	-0.8	0.1	1.5	-2.2	1.8	-7.7	-0.5	0.1
	Public	4.5	5.7	8.0	6.8	9.3	8.7	1.9	7.9	6.3
State final demand		0.6	0.4	0.7	0.8	0.7	0.4	-1.4	1.5	0.7

- nil or rounded to zero (including null cells)
a. Change on preceding quarter
b. Australia estimates relate to Domestic final demand.

Quarterly volume measures, seasonally adjusted

The map shows quarterly volume measures of state final demand by state/territory.
New South Wales' state final demand increased 0.6% for the quarter.
Victoria's state final demand increased 0.4% for the quarter.
Queensland's state final demand increased 0.7% for the quarter.
South Australia's state final demand increased 0.8% for the quarter.
Western Australia's state final demand increased 0.7% for the quarter.
Tasmania's state final demand increased 0.4% for the quarter.
Northern Territory's state final demand decreased 1.4% for the quarter.
Australian Capital Territory's state final demand increased 1.5% for the quarter.

New South Wales 0.6%

Victoria 0.4%

Queensland 0.7%

South Australia 0.8%

Western Australia 0.7%

Tasmania 0.4%

Northern Territory -1.4%

Australian Capital Territory 1.5%

Key tables

Key national accounts aggregates

Key national accounts aggregates, percentage changes (a)
		Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24
Chain volume measures (b)
	GDP	0.5	0.2	0.2	0.2	0.3	0.8
	GDP per capita (c)	-0.2	-0.3	-0.4	-0.5	-0.3	-1.5
	Gross value added market sector (d)	-0.3	0.4	-0.1	0.4	0.1	0.8
	Net domestic product	0.4	0.1	-	0.1	0.3	0.4
Real income measures (b)
	Real gross domestic income	-0.2	1.0	-0.1	-0.8	-0.3	-0.1
	Real gross national income	-	1.1	-	-0.9	0.5	0.8
	Real net national disposable income	-0.4	1.3	-0.1	-1.2	0.5	0.4
	Real net national disposable income per capita (c)	-1.0	0.8	-0.7	-1.9	-0.1	-1.9
Current price measures
	GDP	1.3	1.6	1.3	0.2	0.4	3.5
Productivity
	Hours worked	-0.9	-0.3	0.1	1.1	0.8	1.6
	Hours worked market sector (d)	-1.1	-0.5	-0.7	0.7	0.5	0.1
	GDP per hour worked	1.4	0.5	0.1	-0.9	-0.5	-0.8
	Gross value added per hour worked market sector (d)	0.9	0.9	0.6	-0.4	-0.4	0.7
	Real unit labour costs	1.0	0.1	-0.6	1.5	0.5	1.6
	Real unit labour costs - non-farm	1.0	-0.1	-0.6	1.7	0.5	1.5
Prices
	GDP implicit price deflator	0.8	1.5	1.1	-	0.1	2.7
	Domestic final demand implicit price deflator	1.3	1.1	0.9	0.9	0.7	3.7
	Terms of trade	-2.3	3.0	-0.8	-3.6	-2.5	-3.9

- nil or rounded to zero
a. Change on preceding quarter; last column shows the change between the current quarter and the corresponding quarter of the previous year.
b. Reference year for chain volume measures and real income measures is 2022-23.
c. Population estimates are as published in National, state and territory population and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.

Key national accounts aggregates, levels
		Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24
Chain volume measures (a)
	GDP ($m)	649431	650532	651554	652734	654912
	GDP per capita (b) ($)	24196	24117	24013	23900	23834
	Gross value added market sector (c) ($m)	445185	446892	446456	448125	448525
	Net domestic product ($m)	535852	536216	536451	536801	538169
Real income measures (a)
	Real gross domestic income ($m)	636514	642858	642490	637562	635632
	Real gross national income ($m)	614861	621518	621763	616258	619580
	Real net national disposable income ($m)	500658	506958	506562	500283	502764
	Real net national disposable income per capita (b) ($)	18653	18795	18669	18318	18297
Current price measures
	GDP ($m)	656055	666848	675274	676484	679325
	GDP per capita (b) ($)	24443	24722	24887	24770	24722
	Gross national income ($m)	632863	643365	652377	652514	661220
	National net saving ($m)	35656	38149	37048	28733	29528
	Household saving ratio	1.5	2.6	2.5	2.4	3.2
Prices
	Terms of trade (index) (d)	92.9	95.7	94.9	91.5	89.2

- nil or rounded to zero
a. Reference year for chain volume measures and real income measures is 2022-23.
b. Population estimates are as published in National, state and territory population and ABS projections.
c. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
d. Reference year for indexes is 2022-23 = 100.0

Key national accounts aggregates, revisions to percentage changes (a)
		Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24
Chain volume measures (b)
	GDP	0.2	-	-	-
	GDP per capita (c)	0.2	-	-	-0.1
	Gross value added market sector (d)	-0.2	0.1	-	0.1
	Net domestic product	0.1	-	-0.1	-
Real income measures (b)
	Real gross domestic income	0.2	-	-0.1	-0.2
	Real gross national income	0.2	-	-	-0.3
	Real net national disposable income	-	-	0.1	-0.3
	Real net national disposable income per capita (c)	0.1	-	0.1	-0.3
Current price measures
	GDP	-	-	0.1	-
	Household saving ratio (e)	1.4	1.2	1.9	1.8
Productivity
	Hours worked	-0.2	-0.2	-0.2	-
	Hours worked market sector (d)	-0.2	-0.2	-0.2	-0.2
	GDP per hour worked	0.3	0.1	0.2	-0.1
	Gross value added per hour worked market sector (d)	0.1	0.3	0.2	0.3
	Real unit labour costs	-0.3	0.2	-0.1	0.2
	Real unit labour costs - non-farm	-0.3	0.1	-	0.2
Prices
	Terms of trade	0.6	0.1	-0.1	-0.6

- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2022-23.
c. Population estimates are as published in National, state and territory population and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
e. Revisions to levels.

Analytical expenditure aggregates

Analytical expenditure aggregates, percentage changes (a)
	Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24	Contribution to growth, Jun 24 to Sep 24
Final consumption expenditure
	General government	1.3	0.5	1.2	1.4	1.4	4.7	0.3
	Households	-0.1	0.2	0.6	-0.3	-	0.4	-
		Goods	-1.1	0.1	-	-0.5	-0.7	-1.0	-0.1
		Services	0.5	0.2	1.0	-0.2	0.3	1.3	0.1
		Essential	-0.4	1.1	0.5	0.1	-0.1	1.5	-
		Discretionary	0.3	-1.1	0.8	-0.8	0.1	-1.1	-
Gross fixed capital formation
	Private	0.6	0.5	0.2	0.5	0.1	1.3	-
		Mining	9.4	-4.9	-0.5	-3.0	-2.3	-10.3	-0.1
		Non-mining	-2.1	4.1	0.3	1.0	-	5.4	-
		Total private business investment	0.7	1.8	0.1	-	-0.6	1.3	-0.1
	Public	3.3	-1.8	-1.0	-1.1	6.3	2.3	0.3
Final demand
	Public	1.8	0.1	0.8	0.9	2.4	4.2	0.6
	Private	0.1	0.3	0.5	-0.1	-	0.7	-

Analytical expenditure aggregates, revisions to percentage changes (a)
	Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24
Final consumption expenditure
	General government	-0.2	-0.1	-	-
	Households	-	-	-	-0.1
		Goods	0.2	-0.6	0.5	-0.4
		Services	-0.1	0.3	-0.3	-
		Essential	0.3	-	0.1	-0.4
		Discretionary	-0.4	-	-0.2	0.3
Gross fixed capital formation
	Private	-1.1	0.2	0.7	1.1
		Mining	0.3	-0.8	0.4	-1.2
		Non-mining	-2.1	0.7	0.7	2.4
		Total private business investment	-1.4	0.3	0.6	1.5
	Public	2.4	0.3	-0.2	-2.6
Final demand
	Public	0.4	0.1	-	-0.5
	Private	-0.3	0.1	0.2	0.2

Expenditure aggregates

Expenditure aggregates, contributions to growth
	Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24
Final consumption expenditure
	General government	0.3	0.1	0.3	0.3	0.3
	Households	-	0.1	0.3	-0.1	-
Gross fixed capital formation
	Private	0.1	0.1	-	0.1	-
	Public	0.2	-0.1	-0.1	-0.1	0.3
Domestic final demand	0.5	0.2	0.6	0.2	0.6
Changes in inventories	0.4	-0.1	0.7	-0.3	-0.4
Exports of goods and services	0.3	-0.5	-	0.2	-
Imports of goods and services	-0.6	0.6	-1.3	-0.1	0.1
Statistical discrepancy (E)	-0.2	-	0.2	0.1	-
Gross domestic product	0.5	0.2	0.2	0.2	0.3

Expenditure on GDP

Expenditure on GDP, percentage changes (a)
		Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24	Contribution to growth, Jun 24 to Sep 24
Final consumption expenditure
	General government	1.3	0.5	1.2	1.4	1.4	4.7	0.3
	Households	-0.1	0.2	0.6	-0.3	0.0	0.4	-
	Total final consumption expenditure	0.3	0.3	0.8	0.2	0.4	1.7	0.3
Private gross fixed capital formation
	Dwellings	-0.2	-3.2	1.0	0.7	1.2	-0.5	0.1
	Ownership transfer costs	2.3	4.0	-1.9	4.1	1.6	7.9	-
	Non-dwelling construction	0.3	4.5	-3.4	1.6	-2.7	-0.3	-0.1
	Machinery and equipment	-	-1.7	2.7	-3.4	1.0	-1.5	-
	Cultivated biological resources	-6.2	-2.5	-5.2	-4.2	-2.4	-13.6	-
	Intellectual property products	3.2	2.3	4.0	2.8	1.5	11.1	-
	Total private gross fixed capital formation	0.6	0.5	0.2	0.5	0.1	1.3	-
Public gross fixed capital formation
	Public corporations	10.3	2.5	-3.0	0.7	7.2	7.3	0.1
	General government	1.0	-3.4	-0.2	-1.8	6.0	0.4	0.2
	Total public gross fixed capital formation	3.3	-1.8	-1.0	-1.1	6.3	2.3	0.3
Total gross fixed capital formation		1.2	0.0	-0.1	0.2	1.5	1.6	0.4
Domestic final demand		0.6	0.2	0.6	0.2	0.7	1.7	0.6
Changes in inventories		. .	. .	. .	. .	. .	. .	-0.4
Exports of goods and services		1.2	-2.0	0.1	0.6	0.2	-1.1	-
Imports of goods and services		2.8	-2.7	5.6	0.2	-0.3	2.7	0.1
Statistical discrepancy (E)		. .	. .	. .	. .	. .	. .	-
Gross domestic product		0.5	0.2	0.2	0.2	0.3	0.8	0.3

. . not applicable
- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.

Expenditure on GDP, revisions to percentage changes (a)
		Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24
Final consumption expenditure
	General government	-0.2	-0.1	-	-
	Households	-	-	-	-0.1
	Total final consumption expenditure	-0.1	-	-	-0.1
Private gross fixed capital formation
	Dwellings	-0.7	0.4	0.9	0.6
	Ownership transfer costs	-0.4	0.1	0.1	0.2
	Non-dwelling construction	-3.7	0.5	1.1	3.8
	Machinery and equipment	-0.1	-0.2	-	-1.0
	Cultivated biological resources	-1.6	-0.3	-2.2	-1.2
	Intellectual property products	0.7	0.6	1.0	1.2
	Total private gross fixed capital formation	-1.1	0.2	0.7	1.1
Public gross fixed capital formation
	Public corporations	-1.2	1.1	0.5	1.6
	General government	3.7	0.1	-0.5	-4.3
	Total public gross fixed capital formation	2.4	0.3	-0.2	-2.6
Total gross fixed capital formation		-0.3	0.2	0.5	0.3
Domestic final demand		-0.1	-	0.1	-
Gross national expenditure		-	0.1	0.1	-
Exports of goods and services		0.7	-0.3	-0.7	0.1
Imports of goods and services		0.1	0.5	-0.5	0.4
Gross domestic product		0.2	-	-	-

- nil or rounded to zero
a. Change on preceding quarter.

Household final consumption expenditure

Household final consumption expenditure, percentage changes (a)
	Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24	Contribution to growth, Jun 24 to Sep 24
Food	-0.8	0.2	0.5	-0.7	-0.1	-	-
Cigarettes and tobacco	-5.1	-6.7	-4.8	-2.0	-1.3	-14.2	-
Alcoholic beverages	-1.4	0.6	-2.9	-3.3	-1.0	-6.5	-
Clothing and footwear	0.4	-3.9	1.7	-2.2	2.2	-2.3	0.1
Rent and other dwelling services	0.4	0.4	0.4	0.4	0.4	1.5	0.1
Electricity, gas and other fuel	-16.2	9.1	4.0	1.8	-16.7	-3.8	-0.4
Furnishings and household equipment	1.9	1.2	-0.6	2.1	-0.1	2.6	-
Health	0.2	1.5	0.7	0.6	0.8	3.7	0.1
Purchase of vehicles	12.4	-3.9	-0.8	-2.4	-0.9	-7.8	-
Operation of vehicles	-0.3	0.6	-0.1	-0.8	0.8	0.5	-
Transport services	2.7	1.2	4.3	-4.5	-0.4	0.4	-
Communications	0.1	1.1	1.9	1.2	0.6	4.7	-
Recreation and culture	-0.4	-0.1	0.7	-0.1	0.4	0.9	-
Education services	0.7	1.2	-0.1	1.6	1.0	3.7	-
Hotels, cafes and restaurants	0.4	-1.1	0.6	-1.4	0.0	-1.9	-
Insurance and other financial services	0.6	0.2	0.8	0.8	0.5	2.3	-
Other goods and services	-3.2	0.2	1.2	-0.4	0.8	1.8	-
Total	-0.1	0.2	0.6	-0.3	0.0	0.4	-

Industry gross value added

Industry gross value added, percentage changes (a)
	Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24	Contribution to growth, Jun 24 to Sep 24
Agriculture, Forestry and Fishing	-1.2	-1.2	4.8	0.8	6.6	11.3	0.2
Mining	-	0.8	-0.1	-0.6	-0.8	-0.7	-0.1
Manufacturing	-0.5	-1.0	0.4	1.0	-0.8	-0.4	-
Electricity, Gas, Water and Waste Services	-2.5	1.7	1.2	1.7	0.5	5.2	-
Construction	0.4	1.2	-2.0	0.9	0.9	1.0	0.1
Wholesale Trade	-1.5	-1.0	-2.4	-0.3	-0.3	-3.9	-
Retail Trade	0.3	0.3	-0.2	-0.4	0.6	0.3	-
Accommodation and Food Services	-0.5	-0.2	-1.6	-0.1	-0.4	-2.4	-
Transport, Postal and Warehousing	1.8	0.3	1.2	0.8	-0.9	1.4	-
Information Media and Telecommunications	0.9	-0.3	-1.2	1.5	1.2	1.1	-
Financial and Insurance Services	0.1	0.5	0.7	0.6	0.9	2.7	0.1
Rental, Hiring and Real Estate Services	0.8	-0.1	0.4	0.7	0.4	1.5	-
Professional, Scientific and Technical Services	0.3	1.2	-0.1	0.6	-1.0	0.7	-0.1
Administrative and Support Services	-1.8	0.7	-0.4	0.9	-1.0	0.2	-
Public Administration and Safety	1.0	0.9	0.8	0.5	1.3	3.6	0.1
Education and Training	2.7	-1.5	0.9	1.3	1.3	1.9	0.1
Health Care and Social Assistance	2.1	0.4	1.4	-0.7	1.2	2.2	0.1
Arts and Recreation Services	1.4	-0.3	2.4	-0.6	2.4	3.9	-
Other Services	0.4	1.3	-2.0	0.7	-1.0	-1.1	-
Ownership of dwellings	0.3	0.3	0.3	0.3	0.3	1.3	-
Gross value added at basic prices	0.2	0.3	0.2	0.3	0.3	1.1	0.3
Taxes less subsidies on products	0.6	-1.1	1.9	0.2	-0.7	0.3	-
Statistical discrepancy (P)	. .	. .	. .	. .	. .	. .	0.1
Gross domestic product	0.5	0.2	0.2	0.2	0.3	0.8	0.3

. . not applicable
- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.

Industry value added, revisions to percentage changes (a)
	Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24
Agriculture, Forestry and Fishing	0.6	2.1	3.1	1.0
Mining	1.2	-0.4	-	-0.3
Manufacturing	-0.2	0.1	-0.6	0.3
Electricity, Gas, Water and Waste Services	-0.8	0.5	-	0.4
Construction	-0.3	0.2	0.1	0.4
Wholesale Trade	-0.1	-0.2	-0.4	-0.3
Retail Trade	0.1	-	-0.1	-0.1
Accommodation and Food Services	0.1	0.4	0.1	0.2
Transport, Postal and Warehousing	0.4	0.5	0.4	0.2
Information Media and Telecommunications	-1.3	-0.2	-0.2	-0.1
Financial and Insurance Services	-0.2	0.1	0.2	0.4
Rental, Hiring and Real Estate Services	-0.4	0.4	-0.4	0.3
Professional, Scientific and Technical Services	-0.6	-	-0.3	0.2
Administrative and Support Services	-0.2	-	-0.1	0.1
Public Administration and Safety	-0.1	-0.1	-0.1	-0.1
Education and Training	2.3	-1.9	0.4	0.7
Health Care and Social Assistance	1.3	-0.1	-	-1.1
Arts and Recreation Services	-0.7	0.1	-0.3	0.2
Other Services	-	0.1	0.1	0.1
Ownership of dwellings	-0.1	-0.1	-0.1	-0.1
Gross value added at basic prices	0.1	-0.1	0.1	-
Taxes less subsidies on products	0.4	-0.2	-0.3	-0.4
Gross domestic product	0.2	-	-	-

- nil or rounded to zero
a. Change on preceding quarter.

Income from GDP

Income estimates are in seasonally adjusted current prices

Income from GDP, percentage changes (a)
			Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24	Jun 24 to Sep 24	Through the year, Sep 23 to Sep 24	Contribution to growth, Jun 24 to Sep 24
Compensation of employees
	Wages and salaries		2.3	1.7	0.8	1.1	1.3	5.1	0.5
	Employers' social contributions (b)		3.2	2.5	1.7	1.7	2.0	8.1	0.1
	Total compensation of employees		2.4	1.8	0.9	1.2	1.4	5.4	0.7
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	-2.9	1.5	0.8	-3.5	-3.9	-5.1	-0.8
		Public non-financial corporations	8.5	1.0	6.4	5.7	-4.7	8.2	-
		Total non-financial corporations	-2.5	1.5	1.0	-3.1	-3.9	-4.6	-0.9
	Financial corporations		1.7	1.5	1.4	1.2	1.1	5.3	-
	Total corporations		-1.8	1.5	1.0	-2.4	-3.1	-3.0	-0.8
	General government		1.2	1.9	2.1	2.4	2.5	9.2	0.1
	Dwellings owned by persons		3.6	3.1	2.8	2.8	2.6	11.9	0.2
	Total gross operating surplus		-0.6	1.9	1.5	-1.0	-1.5	0.8	-0.5
Gross mixed income			0.8	-1.1	2.5	0.6	-1.2	0.8	-0.1
Total factor income			1.0	1.6	1.3	0.2	-	3.2	-
Taxes less subsidies on production and imports			3.3	1.2	1.6	-0.8	4.5	6.7	0.4
Statistical discrepancy (I)			. .	. .	. .	. .	. .	. .	-0.1
Gross domestic product			1.3	1.6	1.3	0.2	0.4	3.5	0.4

. . not applicable
- nil or rounded to zero
a. Last column shows the percentage point contribution to growth in GDP.
b. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

Income from GDP, revisions to percentage changes (a)
			Jun 23 to Sep 23	Sep 23 to Dec 23	Dec 23 to Mar 24	Mar 24 to Jun 24
Compensation of employees
	Wages and salaries		-0.2	0.1	-0.1	0.3
	Employers' social contributions (b)		-1.2	1.1	0.2	0.4
	Total compensation of employees		-0.3	0.2	-0.1	0.3
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	0.8	-0.3	-0.2	-0.7
		Public non-financial corporations	2.3	1.8	-0.4	-2.0
		Total non-financial corporations	0.9	-0.2	-0.2	-0.7
	Financial corporations		-0.5	-0.2	-	0.2
	Total corporations		0.7	-0.2	-0.2	-0.6
	General government		-1.1	-0.6	-0.5	-0.3
	Dwellings owned by persons		-	-	-	0.1
	Total gross operating surplus		0.4	-0.2	-0.1	-0.4
Gross mixed income			0.3	0.7	2.0	-0.6
Total factor income			-	-	0.1	-0.1
Taxes less subsidies on production and imports			-0.9	-	-	0.1
Gross domestic product			-	-	0.1	-

- nil or rounded to zero
a. Change on preceding quarter.
b. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

State final demand

State and territory final demand, percentage changes (a)
	Jun 24 to Sep 24
Final consumption expenditure
	General government	0.5	0.9	2.6	0.8	3.5	0.0	0.0	1.8	1.4
	Households	0.3	0.0	-0.8	-0.1	0.1	-0.7	0.2	0.3	0.0
Gross fixed capital formation
	Private	0.4	-0.8	0.1	1.5	-2.2	1.8	-7.7	-0.5	0.1
	Public	4.5	5.7	8.0	6.8	9.3	8.7	1.9	7.9	6.3
State final demand	0.6	0.4	0.7	0.8	0.7	0.4	-1.4	1.5	0.7

Revisions and changes

Revisions in this issue

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

This issue also includes re-referencing of chain volume measure (CVM) estimates to the 2022-23 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 (2023–24) if there are significant relative price changes between 2021-22 and 2022-23.

Gross fixed capital formation asset transfers

This issue includes revisions to used asset transfers between the public and private sectors due to the redistribution of annual estimates of developer contributions over the quarterly periods. Developer contributions are transfers from the private sector to assist local councils, state governments, and public non-financial corporations to fund essential infrastructure such as roads, water supply and drainage. These estimates have been smoothed to more accurately recognise the underlying economic activity across the year as it occurred. The key series impacted are net purchases of second-hand assets in non-dwelling construction for private gross fixed capital formation, and state and local general government gross fixed capital formation.

Revisions have occurred in the following estimates

Quarterly estimates of private gross fixed capital formation including total non-dwelling construction, total private business investment, and total capital formation
Quarterly estimates of public gross fixed capital formation including general government – state and local, total general government, and total public capital formation

The implementation of this change has led to revisions from September quarter 2003 to June quarter 2024. While this change has revised the distribution of the annual estimates across the quarters, it has not directly impacted the level or movement of the annual estimates. As used asset transfers between the public and private sectors are offsetting, there is no impact on GDP.

From September quarter 2024, developer contributions will continue to be reported on a smoothed basis throughout each financial year, with annual levels and movements continuing to be updated during annual processing.

Incorporation of the 2022-23 supply and use tables

The estimates in this issue incorporate the 2022-23 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 Revisions and changes section in Australian System of National Accounts.

Incorporation of the 2023-24 historical revisions

The estimates in this issue incorporate changes from the 2023-24 historical revisions. The 2024 round of revisions incorporated two major historical revision improvements:

Improvements to the measurement of digital services
Film and Television 2021-22 Flexible Survey capital estimates

For more information, please read Impacts from the 2024 Annual National Accounts historical revisions.

Financial Sector Income Accounts

This issue includes an additivity error in the financial sector income account, from September quarter 2009 to June quarter 2022. The gross income, gross domestic income and net saving estimates do not include the correct subtotal for primary income presented in the financial sector table. The error is considered insignificant as the quarterly discrepancy ranges from $1m-$72m. The error impacts only the financial sector and national income account, it has no impact on the GDP current price or chain volume estimates. The error will be corrected in the December quarter 2024 release.

Farm and Non-Farm GDP

The farm and non-farm GDP series (chain volume, current price and implicit price deflators) in Table 24 are suppressed in this release.

Review of suspension of trend estimates

Trend estimates for all series in the National Accounts were suspended from June 2019 due to the impacts of COVID-19 on the economy. Over the intervening period, national accounts time series were significantly affected by changes to regular patterns in economic activity.

With the reinstatement of concurrent adjustment across all national accounts time series, the ABS plans to review national accounts trend series with a view to reinstating trend data in the future.

Retail Business Survey Replacement

On 23 November 2023 the ABS announced that it would cease the Retail Business Survey and Retail Trade publication in 2025 once it has transitioned to new data sources. More information can be found in the Cessation of the Retail Business Survey and Retail Trade Publication article.

In the Australian National Accounts (ANA), a wave approach is being used to transition between Retail Business Survey data and administrative data sources. This approach gradually phases out the use of Retail Trade in Household Final Consumption Expenditure (HFCE) estimates as outlined in Figure 1. In each wave, bank transactions data and other administrative sources will be used in future outputs, but will not introduce revisions to the back series.

Figure 1. Replacement schedule
Data item description	Average Retail Trade contribution (Prior to Dec 2023 reference period)	Replacement Wave	Intended implementation
Food	30%	Wave 1	Implemented: December quarter 2023
Other Goods and Services	41%	Wave 1	Implemented: December quarter 2023
Alcoholic beverages	50%	Wave 2	Implemented: March quarter 2024
Clothing and footwear	100%	Wave 2	Implemented: March quarter 2024
Furnishings and household equipment	95%	Wave 3	Implemented: June quarter 2024
Hotels, cafes and restaurants	39%	Wave 3	Implemented: June quarter 2024
Health	32%	Wave 4	December quarter 2024
Recreation and culture	55%	Wave 4	December quarter 2024
TOTAL FINAL CONSUMPTION EXPENDITURE	24%

Data downloads

Download all (10.2 MB)

Time series spreadsheets

Data files

Table 1. Key National Accounts Aggregates
Download xlsx [231.48 KB]
Table 2. Expenditure on Gross Domestic Product (GDP), Chain volume measures
Download xlsx [619.97 KB]
Table 3. Expenditure on Gross Domestic Product (GDP), Current prices
Download xlsx [311.52 KB]
Table 4. Expenditure on Gross Domestic Product (GDP), Chain price indexes
Download xlsx [114.97 KB]
Table 5. Expenditure on Gross Domestic Product (GDP), Implicit price deflators
Download xlsx [150.91 KB]
Table 6. Gross Value Added by Industry, Chain volume measures
Download xlsx [530.8 KB]
Table 7. Income from Gross Domestic Product (GDP), Current prices
Download xlsx [214.67 KB]
Table 8. Household Final Consumption Expenditure (HFCE)
Download xlsx [431.67 KB]
Table 9. Changes in Inventories
Download xlsx [123.64 KB]
Table 10. Agricultural Income, Current prices
Download xlsx [90.62 KB]
Table 11. National Income Account, Current prices
Download xlsx [156.33 KB]
Table 12. National Capital Account, Current prices
Download xlsx [139.46 KB]
Table 13. Non-Financial Corporations Income Account, Current prices
Download xlsx [154.22 KB]
Table 14. Private Non-Financial Corporations Income Account, Current prices
Download xlsx [149.04 KB]
Table 15. Public Non-Financial Corporations Income Account, Current prices
Download xlsx [139.75 KB]
Table 16. Financial Corporations Income Account, Current prices
Download xlsx [148.57 KB]
Table 17. General Government Income Account, Current prices
Download xlsx [238.94 KB]
Table 18. National General Government Income Account, Current prices
Download xlsx [221.17 KB]
Table 19. State and Local General Government Income Account, Current prices
Download xlsx [196.41 KB]
Table 20. Household Income Account, Current prices
Download xlsx [262.97 KB]
Table 21. External Account, Current prices
Download xlsx [124.51 KB]
Table 22. Taxes, Current prices
Download xlsx [153.62 KB]
Table 23. Social Assistance Benefits Payments, Current prices
Download xlsx [86.06 KB]
Table 24. Selected Analytical Series
Download xlsx [795.83 KB]
Table 25. State Final Demand, Summary Components by State: Chain volume measures
Download xlsx [310.71 KB]
Table 26. State Final Demand, Detailed Components: New South Wales
Download xlsx [529.68 KB]
Table 27. State Final Demand, Detailed Components: Victoria
Download xlsx [523.38 KB]
Table 28. State Final Demand, Detailed Components: Queensland
Download xlsx [519.11 KB]
Table 29. State Final Demand, Detailed Components: South Australia
Download xlsx [499.75 KB]
Table 30. State Final Demand, Detailed Components: Western Australia
Download xlsx [525.87 KB]
Table 31. State Final Demand, Detailed Components: Tasmania
Download xlsx [481.74 KB]
Table 32. State Final Demand, Detailed Components: Northern Territory
Download xlsx [492.48 KB]
Table 33. State Final Demand, Detailed Components: Australian Capital Territory
Download xlsx [487.07 KB]
Table 34. Key Aggregates and analytical series, Annual
Download xlsx [97.99 KB]
Table 35. Income from GDP and Changes in Inventories, Annual
Download xlsx [58.07 KB]
Table 36. Expenditure on Gross Domestic Product (GDP), Chain volume measures and Current prices, Annual
Download xlsx [126.34 KB]
Table 37. Industry Gross Value Added, Chain volume measures, Annual
Download xlsx [71.44 KB]
Table 38. National Income Account, Current prices, Annual
Download xlsx [54.6 KB]
Table 39. National Capital Account, Current prices, Annual
Download xlsx [54.12 KB]
Table 40. External Account, Current prices, Annual
Download xlsx [52.67 KB]
Table 41. Indexes of Industrial Production
Download xlsx [121.52 KB]
Table 42. Unit Labour Costs
Download xlsx [72.59 KB]
Table 43. Indexes of Industrial Production, Annual
Download xlsx [53.4 KB]
Table 44. Compensation of Employees, State by Sector: Current prices
Download xlsx [107.87 KB]
Table 45. Gross Value Added by Industry, Current prices
Download xlsx [258.27 KB]

Data cubes

HFCE Food Estimates, current price and chain volume measures, COICOP Group, SUPC, Original

Data files

Download xlsx [510.14 KB]

Related releases

Upcoming releases

Monthly Household Spending Indicator

The October 2024 issue of the Monthly Household Spending Indicator will be released on 5 December 2024. The experimental Monthly Household Spending Indicator is derived using aggregated, de-identified banks transactions data from some of Australia’s banking and financial institutions. The ABS transforms the banks transactions data in order to derive the Monthly Household Spending Indicator. As this data is not designed for statistical purposes, its scope varies from Australian National Accounts concept of household final consumption expenditure (HFCE) and the Retail Trade turnover estimates for retail businesses. The indicator should be considered experimental at this stage, as further enhancement to the transformation processes and methodology are expected in the future.

Australian National Accounts: Finance and Wealth

The September quarter 2024 issue of Australian National Accounts: Finance and Wealth will be released on 19 December 2024. This publication includes the quarterly household balance sheets with an estimate of net worth. It also provides quarterly estimates of the financial flows and balance outstanding between sectors and various sub-sectors of the domestic economy and with the rest of the world. Other key estimates within the publication include the financial instrument markets, demand for credit by non-financial domestic institutional sectors during the quarter, and their corresponding levels of credit outstanding and quarterly sectoral capital accounts (current price).

Estimates of Industry Level KLEMS Multifactor Productivity

The 2022-23 issue of Estimates of Industry Level KLEMS Multifactor Productivity will be released on 10 December 2024. Since 2016, the ABS has published estimates of industry level KLEMS MFP for the 16 market sector industries. The term KLEMS represents the five input categories - Capital (K), Labour (L), Energy (E), Materials (M) and Services (S). By explicitly identifying the role of intermediate inputs in the production process, KLEMS facilitates a more rigorous analysis of the determinants of output growth at the industry level.

Estimates of Industry Multifactor Productivity

The 2023-24 issue of Estimates of Industry Multifactor Productivity will be released on 22 January 2025. It provides updated estimates of multifactor productivity (MFP) for the 16 industries defined to comprise the market sector. Longer time series are produced for 12 selected industries. Also included are productivity growth cycles for market sector industries and selected industries aggregates back to 1998-99 and 1973-74, respectively. The release includes experimental estimates of productivity growth cycles for individual industries, sources of aggregate labour productivity growth and its industry origin. Experimental estimates of state productivity back to 1994-95 are also provided.

Published releases

Australian National Accounts: State Accounts

The 2023-24 issue of the Australian National Accounts: State Accounts was released on 20 November 2024. This publication provides detailed annual estimates of gross state product (GSP) for all states and territories. These are estimated using the expenditure, income and production approaches. Also published are estimates of household and agricultural incomes.

Australian System of National Accounts

The 2023-24 issue of the Australian System of National Accounts was released on 25 October 2024. 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, sectoral accounts (for households, financial and non-financial corporations, general government and the rest of the world), and additional aggregates dissected by industry.

Australian National Accounts: Supply Use Tables

The 2022-23 issue of the Australian National Accounts: Supply Use Tables was released on 25 October 2024. The Supply Use tables were introduced in the annual National Accounts in 1998 as an integral part of the annual compilation of the Australian System of National Accounts. They are used to ensure Gross Domestic Product is balanced for all three approaches (production, expenditure and income) and provide the annual benchmarks from which the quarterly estimates are compiled.

Previous catalogue number

This release previously used catalogue number 5206.0.

Methodology

Australian National Accounts: National Income, Expenditure and Product methodology, September 2024

Do you need more detailed statistics?

Request data

We can provide customised data to meet your requirements

Request a quote

Microdata and TableBuilder

We can provide access to detailed, customisable data on selected topics

View available Microdata and TableBuilder

APA

Australian National Accounts: National Income, Expenditure and Product

APA

Key statistics

In this release

Public Consultation

Economic overview

Australian economy grew 0.3% in the September quarter 2024

Domestic prices rise while the terms of trade continue to fall

Public demand supports growth

Energy rebates drive growth in government spending

Public investment returns to strength

Household consumption remains weak

Net trade contributed to growth

Industry growth supported by the non-market sector

Mining industry led the decrease in profits

Compensation of employees continued to rise

Household saving ratio increased

Expenditure

Final consumption expenditure (FCE) 0.4%

Household FCE fell 0.0%, driven by a:

General government FCE rose 1.4%, driven by a:

Gross fixed capital formation (GFCF) 1.5%

Private investment increased 0.1%, driven by a:

Public investment increased 6.3%, driven by a:

Changes in inventories

Exports and imports of goods and services

Exports of goods and services rose 0.2%, driven by a:

Imports of goods and services fell 0.3%, driven by a:

Income

Compensation of employees (COE) 1.4%

Gross operating surplus (GOS) -1.5%

Taxes less subsidies on production and imports 4.5%

Production

Agriculture, Forestry and Fishing 6.6%

Mining -0.8%

Manufacturing -0.8%

Electricity, Gas, Water and Waste Services 0.5%

Construction 0.9%

Wholesale Trade -0.3%

Retail Trade 0.6%

Accommodation and Food Services -0.4%

Transport, Postal and Warehousing -0.9%

Information Media and Telecommunications 1.2%

Financial and Insurance Services 0.9%

Rental, Hiring and Real Estate Services 0.4%

Professional, Scientific and Technical Services -1.0%

Administrative and Support Services -1.0%

Public Administration and Safety 1.3%

Health Care and Social Assistance 1.2%

Arts and Recreation Services 2.4%

Other Services -1.0%

State and territory final demand

Quarterly volume measures, seasonally adjusted

New South Wales 0.6%

Total final consumption expenditure increased 0.4%:

Private gross fixed capital formation increased 0.4%, driven by a:

Public gross fixed capital formation increased 4.5%, driven by a:

Victoria 0.4%

Total final consumption expenditure increased 0.3%, driven by a:

Private gross fixed capital formation decreased 0.8%, driven by a:

Public gross fixed capital formation increased 5.7%, driven by a:

Queensland 0.7%

Total final consumption expenditure increased 0.2%, driven by a:

Private gross fixed capital formation increased 0.1%, driven by a:

Public gross fixed capital formation increased 8.0%, driven by a:

South Australia 0.8%

Total final consumption expenditure increased 0.2%, driven by a:

Private gross fixed capital formation increased 1.5%, driven by a:

Public gross fixed capital formation increased 6.8%, driven by a:

Western Australia 0.7%

Total final consumption expenditure increased 1.1%, driven by a:

Private gross fixed capital formation decreased 2.2%, driven by a:

Public gross fixed capital formation increased 9.3%, driven by a:

Tasmania 0.4%

Total final consumption expenditure decreased 0.4%, driven by a:

Private gross fixed capital formation increased 1.8%, driven by a:

Public gross fixed capital formation increased 8.7%, driven by a:

Northern Territory -1.4%

Total final consumption expenditure increased 0.1%, driven by a: