Dec Q GDP up 0.9%
March 3, 2010
Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 0.9% in the December quarter 2009. This is an increase on the 0.3% growth reported for the September quarter.
Growth in the expenditure measure of GDP was driven by a 3.5% increase in private investment, a 10.2% increase in public investment and a 0.7% increase in household expenditure.
Offsetting these increases was a fall in net exports. The fall in net exports was due to a 7.7% increase in imports, though mitigated by a 1.7% increase in imports.
The industries that provided the main contribution to growth in the production measure of GDP in the December quarter were manufacturing with a 5.1% increase in seasonally adjusted volume terms and wholesale trade with a 3.6% increase in seasonally adjusted volume terms.
Growth in the expenditure measure of GDP was driven by a 3.5% increase in private investment, a 10.2% increase in public investment and a 0.7% increase in household expenditure.
Offsetting these increases was a fall in net exports. The fall in net exports was due to a 7.7% increase in imports, though mitigated by a 1.7% increase in imports.
The industries that provided the main contribution to growth in the production measure of GDP in the December quarter were manufacturing with a 5.1% increase in seasonally adjusted volume terms and wholesale trade with a 3.6% increase in seasonally adjusted volume terms.
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