Australian National Accounts: National Income, Expenditure and Product

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

Reference period

December 2022

Released

1/03/2023

View all releases

Key statistics

The Australian economy rose 0.5% in seasonally adjusted chain volume measures
In nominal terms, GDP rose 2.1%
The terms of trade rose 0.6%
Household saving ratio decreased to 4.5% from 7.1%

In this release

For a breakdown of key information from this and other recent economic releases, see 12 things that happened in the Australian economy during the last quarter.

This quarter's National Accounts includes the following articles:

For more information about the changes in this issue, please see Revisions and changes on this page.

Seasonal reanalysis of national accounts series

Annual seasonal reanalysis of national accounts series will be conducted over the March 2023 and June 2023 quarters. This process reviews the seasonal factors in more detail than is possible in the quarterly processing cycle, including assessing the appropriateness of any prior corrections. As part of the reanalysis process, the suspension of trend estimates and use of the forward factor method for series with significant and prolonged impacts from COVID-19 will be reviewed. Revisions to seasonally adjusted estimates will occur as part of these reviews.

Economic overview

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

The reference year for chain volume measures is 2020-21.

December quarter key figures, percentage changes (a)
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22
Chain volume GDP and related measures (b)
	GDP	3.7	0.6	0.9	0.7	0.5	2.7
	GDP per capita (c)	3.4	0.2	0.4	0.1	-	0.8
	Gross value added market sector (d)	3.6	0.7	1.2	1.1	0.2	3.2
	Real net national disposable income	1.0	2.3	1.1	-1.0	1.6	4.0
Productivity
	GDP per hour worked	1.0	0.5	-2.9	0.2	-1.4	-3.5
	Real unit labour costs	-0.8	-2.3	-1.3	1.7	0.1	-1.8
Prices
	GDP chain price index (original)	-1.0	5.1	4.1	0.2	0.6	10.3
	Terms of trade	-6.2	8.4	4.5	-5.9	0.6	7.2
Current price measures
	GDP	3.2	4.3	4.0	1.2	2.1	12.0
	Household saving ratio	12.9	11.2	8.3	7.1	4.5	na

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 2020-21.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.

Australian economy grew 0.5% in the December quarter 2022

Gross Domestic Product (GDP) rose 0.5% this quarter and 2.7% through the year. Although this is the fifth consecutive increase, growth slowed in each of the last two quarters. Net trade (increased exports and fall in imports) and consumption were the primary contributors to GDP growth in the December quarter.

Gross domestic product, chain volume measures, seasonally adjusted
	Levels (RHS) ($b)	Quarterly growth (%)
Dec-14	459.0	0.4
Mar-15	463.2	0.9
Jun-15	463.7	0.1
Sep-15	468.4	1.0
Dec-15	471.2	0.6
Mar-16	475.5	0.9
Jun-16	478.5	0.6
Sep-16	479.0	0.1
Dec-16	483.9	1.0
Mar-17	485.5	0.3
Jun-17	488.5	0.6
Sep-17	493.2	1.0
Dec-17	495.3	0.4
Mar-18	500.2	1.0
Jun-18	504.0	0.8
Sep-18	506.3	0.5
Dec-18	507.2	0.2
Mar-19	510.0	0.5
Jun-19	512.4	0.5
Sep-19	516.2	0.7
Dec-19	518.4	0.4
Mar-20	517.5	-0.2
Jun-20	482.9	-6.7
Sep-20	501.6	3.9
Dec-20	517.7	3.2
Mar-21	528.6	2.1
Jun-21	532.6	0.8
Sep-21	522.2	-2.0
Dec-21	541.3	3.7
Mar-22	544.4	0.6
Jun-22	549.3	0.9
Sep-22	553.0	0.7
Dec-22	555.7	0.5

Gross domestic product, chain volume measures, seasonally adjusted

["","Levels (RHS)","Quarterly growth"]

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[459],[463.19999999999999],[463.69999999999999],[468.39999999999998],[471.19999999999999],[475.5],[478.5],[479],[483.89999999999998],[485.5],[488.5],[493.19999999999999],[495.30000000000001],[500.19999999999999],[504],[506.30000000000001],[507.19999999999999],[510],[512.39999999999998],[516.20000000000005],[518.39999999999998],[517.5],[482.89999999999998],[501.60000000000002],[517.70000000000005],[528.60000000000002],[532.60000000000002],[522.20000000000005],[541.29999999999995],[544.39999999999998],[549.29999999999995],[553],[555.70000000000005]],[[0.40000000000000002],[0.90000000000000002],[0.10000000000000001],[1],[0.59999999999999998],[0.90000000000000002],[0.59999999999999998],[0.10000000000000001],[1],[0.29999999999999999],[0.59999999999999998],[1],[0.40000000000000002],[1],[0.80000000000000004],[0.5],[0.20000000000000001],[0.5],[0.5],[0.69999999999999996],[0.40000000000000002],[-0.20000000000000001],[-6.7000000000000002],[3.8999999999999999],[3.2000000000000002],[2.1000000000000001],[0.80000000000000004],[-2],[3.7000000000000002],[0.59999999999999998],[0.90000000000000002],[0.69999999999999996],[0.5]]]

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Domestic price pressures continued

Nominal GDP rose 2.1%. The GDP implicit price deflator (IPD) increased 1.6% with higher domestic prices and a small rise in the terms of trade.

The domestic final demand IPD rose 1.4% over the quarter, and 6.6% through the year. This is the largest through the year increase since March quarter 1990. Though elevated, goods inflation began to moderate, particularly in pricing for construction materials as supply chains improve. Services inflation remained strong as skilled labour shortages and a tight labour market continued to add upward pressure to labour costs.

The terms of trade rose 0.6% as growth in export prices (+1.8%) outpaced import prices (+1.3%). Mining commodities drove the rise in export prices, consistent with global demand for Australian metals. The depreciation of the Australian dollar contributed to the rise in import prices.

Quarterly growth in prices, seasonally adjusted
	Terms of trade (RHS) (%)	GDP IPD (LHS) (%)	DFD IPD (LHS) (%)
Dec-14	-2.1	0.2	0.6
Mar-15	-3.2	-0.3	0.5
Jun-15	-2.8	-0.2	0.4
Sep-15	-2.5	0.1	0.5
Dec-15	-4.4	-0.6	0.3
Mar-16	-2.0	-0.2	0
Jun-16	3.5	0.6	0.1
Sep-16	4.2	1.2	0.2
Dec-16	10.9	2.2	0.2
Mar-17	4.0	1.5	0.4
Jun-17	-4.5	-0.7	0.4
Sep-17	0.1	0.3	0.1
Dec-17	0	0.2	0.5
Mar-18	1.7	1.0	0.5
Jun-18	-0.2	0.4	0.5
Sep-18	1.6	1.2	0.6
Dec-18	2.7	0.9	0.5
Mar-19	1.5	0.8	0.3
Jun-19	2.0	0.9	0.6
Sep-19	1.5	0.9	0.4
Dec-19	-4.4	-0.7	0.4
Mar-20	0.1	0.6	0.5
Jun-20	-0.9	-1.1	-0.3
Sep-20	2.0	0.9	-0.1
Dec-20	5.3	1.4	0.3
Mar-21	8.0	2.2	0.6
Jun-21	6.2	1.8	0.8
Sep-21	1.4	1.8	0.8
Dec-21	-6.2	-0.4	1.1
Mar-22	8.4	3.7	1.5
Jun-22	4.5	3.1	1.6
Sep-22	-5.9	0.5	2.0
Dec-22	0.6	1.6	1.4

Quarterly growth in prices, seasonally adjusted

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

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[-2.1000000000000001],[-3.2000000000000002],[-2.7999999999999998],[-2.5],[-4.4000000000000004],[-2],[3.5],[4.2000000000000002],[10.9],[4],[-4.5],[0.10000000000000001],[0],[1.7],[-0.20000000000000001],[1.6000000000000001],[2.7000000000000002],[1.5],[2],[1.5],[-4.4000000000000004],[0.10000000000000001],[-0.90000000000000002],[2],[5.2999999999999998],[8],[6.2000000000000002],[1.3999999999999999],[-6.2000000000000002],[8.4000000000000004],[4.5],[-5.9000000000000004],[0.59999999999999998]],[[0.20000000000000001],[-0.29999999999999999],[-0.20000000000000001],[0.10000000000000001],[-0.59999999999999998],[-0.20000000000000001],[0.59999999999999998],[1.2],[2.2000000000000002],[1.5],[-0.69999999999999996],[0.29999999999999999],[0.20000000000000001],[1],[0.40000000000000002],[1.2],[0.90000000000000002],[0.80000000000000004],[0.90000000000000002],[0.90000000000000002],[-0.69999999999999996],[0.59999999999999998],[-1.1000000000000001],[0.90000000000000002],[1.3999999999999999],[2.2000000000000002],[1.8],[1.8],[-0.40000000000000002],[3.7000000000000002],[3.1000000000000001],[0.5],[1.6000000000000001]],[[0.59999999999999998],[0.5],[0.40000000000000002],[0.5],[0.29999999999999999],[0],[0.10000000000000001],[0.20000000000000001],[0.20000000000000001],[0.40000000000000002],[0.40000000000000002],[0.10000000000000001],[0.5],[0.5],[0.5],[0.59999999999999998],[0.5],[0.29999999999999999],[0.59999999999999998],[0.40000000000000002],[0.40000000000000002],[0.5],[-0.29999999999999999],[-0.10000000000000001],[0.29999999999999999],[0.59999999999999998],[0.80000000000000004],[0.80000000000000004],[1.1000000000000001],[1.5],[1.6000000000000001],[2],[1.3999999999999999]]]

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Net trade contributed to growth

Net trade contributed 1.1 percentage points to GDP, as exports increased 1.1% and imports fell 4.3%.

Domestic final demand was unchanged. Growth has moderated in each of the last four quarters, in line with the wind down of the pandemic recovery and growing cost-of-living pressures for households. Private demand detracted 0.1 percentage points from GDP growth, driven by decreased private investment (-1.7%), which was partly offset by a rise in household consumption (+0.3%). Public demand offset private, contributing 0.1 percentage points to GDP. The rise was driven by increased government expenditure (+0.6%), partly offset by a fall in public investment (-0.7%).

Changes in inventories recorded a build-up of $1.1 billion in December quarter, down from $3.9 billion in the September quarter, which detracted 0.5 percentage points from GDP growth. Private non-farm inventories experienced a rundown with retail inventories declining, reflecting the fall in consumption good imports.

Contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted (a)
	GDP (ppt)	Public demand (ppt)	Private demand (ppt)	Changes in inventories (ppt)	Net trade (ppt)
Dec-14	0.4	-0.1	0.3	-1.0	0.7
Mar-15	0.9	0.2	0.1	0.6	0.3
Jun-15	0.1	0.4	-0.2	-0.2	-0.8
Sep-15	1.0	0	0.2	0	1.1
Dec-15	0.6	0.3	-0.1	0	0.2
Mar-16	0.9	0.6	0.2	-0.1	0.9
Jun-16	0.6	0.6	-0.3	0.3	-0.2
Sep-16	0.1	0.1	0.2	0.1	0
Dec-16	1.0	0.5	0.6	-0.4	0.2
Mar-17	0.3	0.3	0.4	0.4	-1.2
Jun-17	0.6	0.7	0	-0.6	0.5
Sep-17	1.0	-0.5	1.5	0.4	-0.1
Dec-17	0.4	0.6	0.3	0	-0.6
Mar-18	1.0	0.2	0.7	0.1	0.1
Jun-18	0.8	0.1	0.2	0.3	0.1
Sep-18	0.5	0.4	0.1	-0.3	0.6
Dec-18	0.2	0.3	-0.2	0	0
Mar-19	0.5	0.3	-0.1	0.1	0
Jun-19	0.5	0.7	-0.3	-0.5	0.6
Sep-19	0.7	0.2	0.3	0.2	0.3
Dec-19	0.4	0.3	0.1	-0.2	-0.1
Mar-20	-0.2	0.4	-0.9	0.2	0.2
Jun-20	-6.7	0.4	-7.7	-0.8	1.2
Sep-20	3.9	0.6	4.3	1.4	-1.9
Dec-20	3.2	0.3	3.2	-0.7	0
Mar-21	2.1	0	1.8	0.9	-0.3
Jun-21	0.8	0.6	0.9	0	-1.1
Sep-21	-2.0	0.7	-2.3	-0.9	0.8
Dec-21	3.7	0.2	3.0	0.7	-0.3
Mar-22	0.6	0.7	0.9	1.0	-2.1
Jun-22	0.9	0	1.0	-1.0	0.8
Sep-22	0.7	-0.1	0.7	0.4	-0.2
Dec-22	0.5	0.1	-0.1	-0.5	1.1

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

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

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[0.40000000000000002],[0.90000000000000002],[0.10000000000000001],[1],[0.59999999999999998],[0.90000000000000002],[0.59999999999999998],[0.10000000000000001],[1],[0.29999999999999999],[0.59999999999999998],[1],[0.40000000000000002],[1],[0.80000000000000004],[0.5],[0.20000000000000001],[0.5],[0.5],[0.69999999999999996],[0.40000000000000002],[-0.20000000000000001],[-6.7000000000000002],[3.8999999999999999],[3.2000000000000002],[2.1000000000000001],[0.80000000000000004],[-2],[3.7000000000000002],[0.59999999999999998],[0.90000000000000002],[0.69999999999999996],[0.5]],[[-0.10000000000000001],[0.20000000000000001],[0.40000000000000002],[0],[0.29999999999999999],[0.59999999999999998],[0.59999999999999998],[0.10000000000000001],[0.5],[0.29999999999999999],[0.69999999999999996],[-0.5],[0.59999999999999998],[0.20000000000000001],[0.10000000000000001],[0.40000000000000002],[0.29999999999999999],[0.29999999999999999],[0.69999999999999996],[0.20000000000000001],[0.29999999999999999],[0.40000000000000002],[0.40000000000000002],[0.59999999999999998],[0.29999999999999999],[0],[0.59999999999999998],[0.69999999999999996],[0.20000000000000001],[0.69999999999999996],[0],[-0.10000000000000001],[0.10000000000000001]],[[0.29999999999999999],[0.10000000000000001],[-0.20000000000000001],[0.20000000000000001],[-0.10000000000000001],[0.20000000000000001],[-0.29999999999999999],[0.20000000000000001],[0.59999999999999998],[0.40000000000000002],[0],[1.5],[0.29999999999999999],[0.69999999999999996],[0.20000000000000001],[0.10000000000000001],[-0.20000000000000001],[-0.10000000000000001],[-0.29999999999999999],[0.29999999999999999],[0.10000000000000001],[-0.90000000000000002],[-7.7000000000000002],[4.2999999999999998],[3.2000000000000002],[1.8],[0.90000000000000002],[-2.2999999999999998],[3],[0.90000000000000002],[1],[0.69999999999999996],[-0.10000000000000001]],[[-1],[0.59999999999999998],[-0.20000000000000001],[0],[0],[-0.10000000000000001],[0.29999999999999999],[0.10000000000000001],[-0.40000000000000002],[0.40000000000000002],[-0.59999999999999998],[0.40000000000000002],[0],[0.10000000000000001],[0.29999999999999999],[-0.29999999999999999],[0],[0.10000000000000001],[-0.5],[0.20000000000000001],[-0.20000000000000001],[0.20000000000000001],[-0.80000000000000004],[1.3999999999999999],[-0.69999999999999996],[0.90000000000000002],[0],[-0.90000000000000002],[0.69999999999999996],[1],[-1],[0.40000000000000002],[-0.5]],[[0.69999999999999996],[0.29999999999999999],[-0.80000000000000004],[1.1000000000000001],[0.20000000000000001],[0.90000000000000002],[-0.20000000000000001],[0],[0.20000000000000001],[-1.2],[0.5],[-0.10000000000000001],[-0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[0.59999999999999998],[0],[0],[0.59999999999999998],[0.29999999999999999],[-0.10000000000000001],[0.20000000000000001],[1.2],[-1.8999999999999999],[0],[-0.29999999999999999],[-1.1000000000000001],[0.80000000000000004],[-0.29999999999999999],[-2.1000000000000001],[0.80000000000000004],[-0.20000000000000001],[1.1000000000000001]]]

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a. Contributions may not be additive due to rounding.

Exports increased for the third consecutive quarter

Exports of goods and services rose 1.1%, driven by services exports, while goods fell. Services exports rose 9.8%, reflecting the sustained recovery in education and personal travel as international students and tourists continued to return to Australia.

Imports of goods and services fell 4.3%. Imports of goods (-3.8%) drove the fall and was broad-based across consumption, capital and intermediate goods, aligned with weaker domestic demand. Imports of services (-6.5%) also contributed to the fall as Australian travellers favoured cheaper, short-haul destinations. This follows recent strength since the reopening of international borders.

Net trade contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted (a)
	Net trade (ppt)	Imports of goods and services (ppt)	Exports of goods and services (ppt)
Dec-14	0.7	0.3	0.4
Mar-15	0.3	-0.5	0.8
Jun-15	-0.8	-0.1	-0.8
Sep-15	1.1	0.1	1.0
Dec-15	0.2	0.1	0.2
Mar-16	0.9	0.5	0.4
Jun-16	-0.2	-0.4	0.2
Sep-16	0	-0.3	0.3
Dec-16	0.2	-0.5	0.7
Mar-17	-1.2	-0.7	-0.5
Jun-17	0.5	0.1	0.5
Sep-17	-0.1	-0.5	0.5
Dec-17	-0.6	-0.1	-0.4
Mar-18	0.1	-0.7	0.8
Jun-18	0.1	-0.1	0.2
Sep-18	0.6	0.4	0.2
Dec-18	0	0.1	-0.1
Mar-19	0	-0.2	0.2
Jun-19	0.6	0.1	0.5
Sep-19	0.3	0.1	0.2
Dec-19	-0.1	0.1	-0.2
Mar-20	0.2	1.2	-1.1
Jun-20	1.2	2.8	-1.6
Sep-20	-1.9	-1.0	-0.9
Dec-20	0	-1.0	1.0
Mar-21	-0.3	-0.6	0.3
Jun-21	-1.1	-0.3	-0.8
Sep-21	0.8	0.7	0.1
Dec-21	-0.3	-0.3	0
Mar-22	-2.1	-1.9	-0.2
Jun-22	0.8	-0.3	1.1
Sep-22	-0.2	-0.8	0.5
Dec-22	1.1	0.9	0.2

Net trade contributions to quarterly growth in GDP, chain volume measures, seasonally adjusted (a)

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

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[0.69999999999999996],[0.29999999999999999],[-0.80000000000000004],[1.1000000000000001],[0.20000000000000001],[0.90000000000000002],[-0.20000000000000001],[0],[0.20000000000000001],[-1.2],[0.5],[-0.10000000000000001],[-0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[0.59999999999999998],[0],[0],[0.59999999999999998],[0.29999999999999999],[-0.10000000000000001],[0.20000000000000001],[1.2],[-1.8999999999999999],[0],[-0.29999999999999999],[-1.1000000000000001],[0.80000000000000004],[-0.29999999999999999],[-2.1000000000000001],[0.80000000000000004],[-0.20000000000000001],[1.1000000000000001]],[[0.29999999999999999],[-0.5],[-0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[0.5],[-0.40000000000000002],[-0.29999999999999999],[-0.5],[-0.69999999999999996],[0.10000000000000001],[-0.5],[-0.10000000000000001],[-0.69999999999999996],[-0.10000000000000001],[0.40000000000000002],[0.10000000000000001],[-0.20000000000000001],[0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[1.2],[2.7999999999999998],[-1],[-1],[-0.59999999999999998],[-0.29999999999999999],[0.69999999999999996],[-0.29999999999999999],[-1.8999999999999999],[-0.29999999999999999],[-0.80000000000000004],[0.90000000000000002]],[[0.40000000000000002],[0.80000000000000004],[-0.80000000000000004],[1],[0.20000000000000001],[0.40000000000000002],[0.20000000000000001],[0.29999999999999999],[0.69999999999999996],[-0.5],[0.5],[0.5],[-0.40000000000000002],[0.80000000000000004],[0.20000000000000001],[0.20000000000000001],[-0.10000000000000001],[0.20000000000000001],[0.5],[0.20000000000000001],[-0.20000000000000001],[-1.1000000000000001],[-1.6000000000000001],[-0.90000000000000002],[1],[0.29999999999999999],[-0.80000000000000004],[0.10000000000000001],[0],[-0.20000000000000001],[1.1000000000000001],[0.5],[0.20000000000000001]]]

[]

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a. Contributions may not be additive due to rounding.

Household spending moderated

Household spending rose 0.3%, the weakest quarterly rise since the Delta-variant lockdowns in September 2021. Growth in discretionary spending (+0.4%) slowed to be more in line with essential spending (+0.3%).

Discretionary spending was led by hotels, cafes and restaurants (+1.6%) and transport services (+5.7%), reflecting residual post-lockdown demand. Spending in these categories slowed following four consecutive quarters of strong demand. Other discretionary spending on recreation and culture (-1.4%), clothing and footwear (-2.7%), and furnishings and household equipment (-1.2%) fell as cost-of-living pressures began to weigh on household budgets.

Spending on food (+2.4%) rebounded following four consecutive falls, as pricing fell with increased availability of fruit and vegetables following supply issues earlier in the year.

Household consumption, chain volume measures, seasonally adjusted
	Levels (RHS) ($b)	Quarterly growth (%)
Dec-14	244.7	0.6
Mar-15	245.7	0.4
Jun-15	247.2	0.6
Sep-15	249.3	0.9
Dec-15	250.4	0.4
Mar-16	252.4	0.8
Jun-16	253.5	0.4
Sep-16	255.1	0.6
Dec-16	256.9	0.7
Mar-17	257.9	0.4
Jun-17	259.6	0.7
Sep-17	261.3	0.7
Dec-17	263.8	0.9
Mar-18	265.1	0.5
Jun-18	267.1	0.7
Sep-18	267.6	0.2
Dec-18	268.2	0.2
Mar-19	268.6	0.2
Jun-19	269.9	0.5
Sep-19	270.0	0
Dec-19	271.1	0.4
Mar-20	267.4	-1.4
Jun-20	233.8	-12.5
Sep-20	252.2	7.8
Dec-20	264.0	4.7
Mar-21	267.4	1.3
Jun-21	270.2	1.1
Sep-21	257.1	-4.9
Dec-21	273.3	6.3
Mar-22	278.3	1.8
Jun-22	284.4	2.2
Sep-22	287.1	1.0
Dec-22	288.1	0.3

Household consumption, chain volume measures, seasonally adjusted

["","Levels (RHS)","Quarterly growth"]

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[244.69999999999999],[245.69999999999999],[247.19999999999999],[249.30000000000001],[250.40000000000001],[252.40000000000001],[253.5],[255.09999999999999],[256.89999999999998],[257.89999999999998],[259.60000000000002],[261.30000000000001],[263.80000000000001],[265.10000000000002],[267.10000000000002],[267.60000000000002],[268.19999999999999],[268.60000000000002],[269.89999999999998],[270],[271.10000000000002],[267.39999999999998],[233.80000000000001],[252.19999999999999],[264],[267.39999999999998],[270.19999999999999],[257.10000000000002],[273.30000000000001],[278.30000000000001],[284.39999999999998],[287.10000000000002],[288.10000000000002]],[[0.59999999999999998],[0.40000000000000002],[0.59999999999999998],[0.90000000000000002],[0.40000000000000002],[0.80000000000000004],[0.40000000000000002],[0.59999999999999998],[0.69999999999999996],[0.40000000000000002],[0.69999999999999996],[0.69999999999999996],[0.90000000000000002],[0.5],[0.69999999999999996],[0.20000000000000001],[0.20000000000000001],[0.20000000000000001],[0.5],[0],[0.40000000000000002],[-1.3999999999999999],[-12.5],[7.7999999999999998],[4.7000000000000002],[1.3],[1.1000000000000001],[-4.9000000000000004],[6.2999999999999998],[1.8],[2.2000000000000002],[1],[0.29999999999999999]]]

[]

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Quarterly growth in household discretionary and essential consumption, chain volume measures, seasonally adjusted
	Essential consumption (%)	Discretionary consumption (%)
Dec-14	0.5	0.7
Mar-15	0.3	0.4
Jun-15	0.7	0.5
Sep-15	0.6	1.2
Dec-15	0.5	0.3
Mar-16	0.5	1.2
Jun-16	0.9	-0.1
Sep-16	0.5	0.9
Dec-16	0.9	0.5
Mar-17	0.6	0.2
Jun-17	0.7	0.6
Sep-17	0.7	0.6
Dec-17	0.4	1.8
Mar-18	0.4	0.7
Jun-18	0.8	0.7
Sep-18	0.3	0
Dec-18	0.5	-0.1
Mar-19	0.3	-0.1
Jun-19	0.4	0.4
Sep-19	0.3	-0.6
Dec-19	0.4	0.5
Mar-20	0.2	-3.8
Jun-20	-5.4	-23.7
Sep-20	4.8	13.9
Dec-20	1.4	10.7
Mar-21	-0.1	3.5
Jun-21	0.7	1.7
Sep-21	-0.7	-11.4
Dec-21	1.3	15.0
Mar-22	0.4	4.0
Jun-22	1.0	3.9
Sep-22	0.3	1.9
Dec-22	0.3	0.4

Quarterly growth in household discretionary and essential consumption, chain volume measures, seasonally adjusted

["","Essential consumption","Discretionary consumption"]

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[0.5],[0.29999999999999999],[0.69999999999999996],[0.59999999999999998],[0.5],[0.5],[0.90000000000000002],[0.5],[0.90000000000000002],[0.59999999999999998],[0.69999999999999996],[0.69999999999999996],[0.40000000000000002],[0.40000000000000002],[0.80000000000000004],[0.29999999999999999],[0.5],[0.29999999999999999],[0.40000000000000002],[0.29999999999999999],[0.40000000000000002],[0.20000000000000001],[-5.4000000000000004],[4.7999999999999998],[1.3999999999999999],[-0.10000000000000001],[0.69999999999999996],[-0.69999999999999996],[1.3],[0.40000000000000002],[1],[0.29999999999999999],[0.29999999999999999]],[[0.69999999999999996],[0.40000000000000002],[0.5],[1.2],[0.29999999999999999],[1.2],[-0.10000000000000001],[0.90000000000000002],[0.5],[0.20000000000000001],[0.59999999999999998],[0.59999999999999998],[1.8],[0.69999999999999996],[0.69999999999999996],[0],[-0.10000000000000001],[-0.10000000000000001],[0.40000000000000002],[-0.59999999999999998],[0.5],[-3.7999999999999998],[-23.699999999999999],[13.9],[10.699999999999999],[3.5],[1.7],[-11.4],[15],[4],[3.8999999999999999],[1.8999999999999999],[0.40000000000000002]]]

[]

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Private housing and business investment both declined

Private investment fell 1.7%. Business investment fell 1.4%, driven by non-dwelling construction with the completion of major projects.

Ownership transfer costs drove the fall in housing investment (-2.1%), reflecting lower levels of property market activity following recent interest rate rises. Despite falling for five consecutive quarters, ownership transfer costs remain above pre-pandemic levels.

Dwelling investment also declined, as renovation activity supported by HomeBuilder reached completion. This was partly offset by new and used dwellings (+1.4%) as materials supply improved for the second consecutive quarter.

Contributions to quarterly growth in private investment, chain volume measures, seasonally adjusted (a)
	Total private investment (ppt)	Dwellings (ppt)	Ownership transfer costs (ppt)	Business investment (ppt)
Dec-21	-0.4	-0.4	-0.1	0.1
Mar-22	0.1	-0.1	-0.3	0.5
Jun-22	-0.9	-0.9	-0.2	0.2
Sep-22	1.2	0.2	-1.1	2.1
Dec-22	-1.7	-0.2	-0.5	-0.9

Contributions to quarterly growth in private investment, chain volume measures, seasonally adjusted (a)

["","Total private investment","Dwellings","Ownership transfer costs","Business investment"]

[["Dec-21","Mar-22","Jun-22","Sep-22","Dec-22"],[[-0.40000000000000002],[0.10000000000000001],[-0.90000000000000002],[1.2],[-1.7]],[[-0.40000000000000002],[-0.10000000000000001],[-0.90000000000000002],[0.20000000000000001],[-0.20000000000000001]],[[-0.10000000000000001],[-0.29999999999999999],[-0.20000000000000001],[-1.1000000000000001],[-0.5]],[[0.10000000000000001],[0.5],[0.20000000000000001],[2.1000000000000001],[-0.90000000000000002]]]

[]

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a. Contributions may not be additive due to rounding.

Growth in COE continued in the tight labour market

Compensation of employees (COE) rose 2.1% as tight labour market conditions continued in the December quarter. Sustained wages and employment growth translated to a 10.4% through the year rise in COE, the largest since September 2007.

Skilled labour shortages continued to add pressure to wages, resulting in businesses paying more to attract and retain staff. The Fair Work Commission's 2021-22 decision to increase in the minimum wage also contributed to strength in COE as award wage rises came into effect for the aviation, tourism and hospitality industries this quarter.

Compensation of employees, current prices, seasonally adjusted
	Through the year (%)	Quarterly growth (%)
Dec-14	2.9	0.5
Mar-15	2.4	0.3
Jun-15	2.7	1.0
Sep-15	2.8	0.9
Dec-15	3.1	0.8
Mar-16	3.8	1.0
Jun-16	3.0	0.3
Sep-16	3.2	1.1
Dec-16	2.1	-0.3
Mar-17	2.1	1.0
Jun-17	3.2	1.3
Sep-17	3.4	1.3
Dec-17	5.2	1.5
Mar-18	5.5	1.3
Jun-18	5.2	1.0
Sep-18	5.3	1.4
Dec-18	4.8	1.1
Mar-19	5.3	1.7
Jun-19	5.8	1.5
Sep-19	5.5	1.1
Dec-19	5.3	0.9
Mar-20	4.5	0.9
Jun-20	1.2	-1.7
Sep-20	2.4	2.3
Dec-20	2.8	1.3
Mar-21	3.8	1.8
Jun-21	6.9	1.3
Sep-21	4.9	0.4
Dec-21	5.4	1.7
Mar-22	5.7	2.1
Jun-22	7.0	2.6
Sep-22	10.0	3.2
Dec-22	10.4	2.1

Compensation of employees, current prices, seasonally adjusted

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

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[2.8999999999999999],[2.3999999999999999],[2.7000000000000002],[2.7999999999999998],[3.1000000000000001],[3.7999999999999998],[3],[3.2000000000000002],[2.1000000000000001],[2.1000000000000001],[3.2000000000000002],[3.3999999999999999],[5.2000000000000002],[5.5],[5.2000000000000002],[5.2999999999999998],[4.7999999999999998],[5.2999999999999998],[5.7999999999999998],[5.5],[5.2999999999999998],[4.5],[1.2],[2.3999999999999999],[2.7999999999999998],[3.7999999999999998],[6.9000000000000004],[4.9000000000000004],[5.4000000000000004],[5.7000000000000002],[7],[10],[10.4]],[[0.5],[0.29999999999999999],[1],[0.90000000000000002],[0.80000000000000004],[1],[0.29999999999999999],[1.1000000000000001],[-0.29999999999999999],[1],[1.3],[1.3],[1.5],[1.3],[1],[1.3999999999999999],[1.1000000000000001],[1.7],[1.5],[1.1000000000000001],[0.90000000000000002],[0.90000000000000002],[-1.7],[2.2999999999999998],[1.3],[1.8],[1.3],[0.40000000000000002],[1.7],[2.1000000000000001],[2.6000000000000001],[3.2000000000000002],[2.1000000000000001]]]

[]

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Operating surplus rose as mining profits recovered

Gross operating surplus rose 2.9%, driven by private non-financial corporations (+3.7%) as mining profits rebounded. Financial corporations operating surplus (+0.5%) slowed as loan and deposit balance growth softened and banks' margins fell with increased competition in the deposit market. Dwellings owned by persons operating surplus (+2.1%) grew at its highest rate since September quarter 2011, due to rising rental prices.

Mining contributed 1.1 percentage points to total growth in gross operating surplus plus gross mixed income (GOSMI), in line with increased exports of iron ore and coal, combined with higher pricing for some mining commodities. Electricity, gas, water and waste services was the largest non-mining industry contributing to growth in GOSMI, driven by electricity companies which experienced lower input costs in power generation and higher revenue through new contract pricing.

Quarterly growth in gross operating surplus, current prices, seasonally adjusted
	Total (%)	Private non-financial corporations (%)	Financial corporations (%)	Dwellings owned by persons (%)
Dec-14	0.3	-1.5	3.8	1.4
Mar-15	-0.4	-1.8	1.2	1.5
Jun-15	-0.6	-2.3	1.5	1.1
Sep-15	0.1	0	0.2	0.8
Dec-15	0.1	-0.7	1.5	0.7
Mar-16	-0.8	-2.6	0.5	0.8
Jun-16	1.1	1.4	0.3	1.3
Sep-16	3.2	5.4	1.3	2.0
Dec-16	8.4	16.4	1.1	1.2
Mar-17	3.2	5.5	1.4	0.8
Jun-17	-1.2	-3.0	1.0	1.2
Sep-17	1.0	1.9	0	0.5
Dec-17	0.2	-0.2	-0.7	1.2
Mar-18	3.1	4.8	0.3	1.3
Jun-18	0.5	0.2	0.3	0.9
Sep-18	2.8	4.5	0.7	1.0
Dec-18	2.6	4.4	1.0	0.6
Mar-19	2.6	4.2	1.2	0.6
Jun-19	0.7	0.9	0.2	1.1
Sep-19	2.0	3.1	0.3	0.8
Dec-19	-0.6	-1.5	-0.2	0.8
Mar-20	-0.3	-1.1	0.3	0.5
Jun-20	9.7	18.6	-1.7	-1.4
Sep-20	3.4	5.1	1.7	-0.1
Dec-20	-4.5	-8.1	1.1	0.6
Mar-21	0.1	-0.4	0.8	0.7
Jun-21	3.4	4.6	1.6	1.3
Sep-21	3.1	4.6	0.3	0.9
Dec-21	1.0	1.4	0	0.4
Mar-22	6.2	9.4	0.1	1.8
Jun-22	8.0	11.4	2.5	1.4
Sep-22	-1.8	-4.1	5.1	1.7
Dec-22	2.9	3.7	0.5	2.1

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

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

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[0.29999999999999999],[-0.40000000000000002],[-0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[-0.80000000000000004],[1.1000000000000001],[3.2000000000000002],[8.4000000000000004],[3.2000000000000002],[-1.2],[1],[0.20000000000000001],[3.1000000000000001],[0.5],[2.7999999999999998],[2.6000000000000001],[2.6000000000000001],[0.69999999999999996],[2],[-0.59999999999999998],[-0.29999999999999999],[9.6999999999999993],[3.3999999999999999],[-4.5],[0.10000000000000001],[3.3999999999999999],[3.1000000000000001],[1],[6.2000000000000002],[8],[-1.8],[2.8999999999999999]],[[-1.5],[-1.8],[-2.2999999999999998],[0],[-0.69999999999999996],[-2.6000000000000001],[1.3999999999999999],[5.4000000000000004],[16.399999999999999],[5.5],[-3],[1.8999999999999999],[-0.20000000000000001],[4.7999999999999998],[0.20000000000000001],[4.5],[4.4000000000000004],[4.2000000000000002],[0.90000000000000002],[3.1000000000000001],[-1.5],[-1.1000000000000001],[18.600000000000001],[5.0999999999999996],[-8.0999999999999996],[-0.40000000000000002],[4.5999999999999996],[4.5999999999999996],[1.3999999999999999],[9.4000000000000004],[11.4],[-4.0999999999999996],[3.7000000000000002]],[[3.7999999999999998],[1.2],[1.5],[0.20000000000000001],[1.5],[0.5],[0.29999999999999999],[1.3],[1.1000000000000001],[1.3999999999999999],[1],[0],[-0.69999999999999996],[0.29999999999999999],[0.29999999999999999],[0.69999999999999996],[1],[1.2],[0.20000000000000001],[0.29999999999999999],[-0.20000000000000001],[0.29999999999999999],[-1.7],[1.7],[1.1000000000000001],[0.80000000000000004],[1.6000000000000001],[0.29999999999999999],[0],[0.10000000000000001],[2.5],[5.0999999999999996],[0.5]],[[1.3999999999999999],[1.5],[1.1000000000000001],[0.80000000000000004],[0.69999999999999996],[0.80000000000000004],[1.3],[2],[1.2],[0.80000000000000004],[1.2],[0.5],[1.2],[1.3],[0.90000000000000002],[1],[0.59999999999999998],[0.59999999999999998],[1.1000000000000001],[0.80000000000000004],[0.80000000000000004],[0.5],[-1.3999999999999999],[-0.10000000000000001],[0.59999999999999998],[0.69999999999999996],[1.3],[0.90000000000000002],[0.40000000000000002],[1.8],[1.3999999999999999],[1.7],[2.1000000000000001]]]

[]

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Mining and non-Mining contributions to quarterly growth in GOSMI, current prices, seasonally adjusted (a)
	Total GOS + GMI (ppt)	Mining (ppt)	Non-Mining (ppt)
Dec-14	1.1	-0.8	1.9
Mar-15	0.1	-0.6	0.6
Jun-15	-0.4	-0.8	0.4
Sep-15	0.4	0.1	0.3
Dec-15	-1.0	-0.3	-0.7
Mar-16	-1.3	-0.8	-0.5
Jun-16	2.7	0.8	1.9
Sep-16	2.3	1.5	0.8
Dec-16	8.2	4.6	3.6
Mar-17	3.1	1.8	1.3
Jun-17	-1.7	-1.3	-0.5
Sep-17	0.4	-0.2	0.5
Dec-17	0.3	0.5	-0.2
Mar-18	2.8	1.1	1.7
Jun-18	1.0	0.9	0
Sep-18	1.7	1.9	-0.1
Dec-18	1.9	1.9	0
Mar-19	2.0	-0.3	2.3
Jun-19	0.4	1.5	-1.1
Sep-19	1.7	0.2	1.5
Dec-19	-0.6	-0.4	-0.2
Mar-20	-0.1	-0.4	0.4
Jun-20	11.5	-0.4	11.8
Sep-20	4.2	0	4.1
Dec-20	-5.6	1.3	-6.9
Mar-21	0.4	2.4	-1.9
Jun-21	2.5	2.2	0.3
Sep-21	3.9	3.4	0.5
Dec-21	1.4	-1.0	2.4
Mar-22	4.6	3.8	0.7
Jun-22	7.1	4.7	2.3
Sep-22	-1.5	-1.5	0
Dec-22	2.1	1.1	1.0

Mining and non-Mining contributions to quarterly growth in GOSMI, current prices, seasonally adjusted (a)

["","Total GOS + GMI","Mining","Non-Mining"]

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[1.1000000000000001],[0.10000000000000001],[-0.40000000000000002],[0.40000000000000002],[-1],[-1.3],[2.7000000000000002],[2.2999999999999998],[8.1999999999999993],[3.1000000000000001],[-1.7],[0.40000000000000002],[0.29999999999999999],[2.7999999999999998],[1],[1.7],[1.8999999999999999],[2],[0.40000000000000002],[1.7],[-0.59999999999999998],[-0.10000000000000001],[11.5],[4.2000000000000002],[-5.5999999999999996],[0.40000000000000002],[2.5],[3.8999999999999999],[1.3999999999999999],[4.5999999999999996],[7.0999999999999996],[-1.5],[2.1000000000000001]],[[-0.80000000000000004],[-0.59999999999999998],[-0.80000000000000004],[0.10000000000000001],[-0.29999999999999999],[-0.80000000000000004],[0.80000000000000004],[1.5],[4.5999999999999996],[1.8],[-1.3],[-0.20000000000000001],[0.5],[1.1000000000000001],[0.90000000000000002],[1.8999999999999999],[1.8999999999999999],[-0.29999999999999999],[1.5],[0.20000000000000001],[-0.40000000000000002],[-0.40000000000000002],[-0.40000000000000002],[0],[1.3],[2.3999999999999999],[2.2000000000000002],[3.3999999999999999],[-1],[3.7999999999999998],[4.7000000000000002],[-1.5],[1.1000000000000001]],[[1.8999999999999999],[0.59999999999999998],[0.40000000000000002],[0.29999999999999999],[-0.69999999999999996],[-0.5],[1.8999999999999999],[0.80000000000000004],[3.6000000000000001],[1.3],[-0.5],[0.5],[-0.20000000000000001],[1.7],[0],[-0.10000000000000001],[0],[2.2999999999999998],[-1.1000000000000001],[1.5],[-0.20000000000000001],[0.40000000000000002],[11.800000000000001],[4.0999999999999996],[-6.9000000000000004],[-1.8999999999999999],[0.29999999999999999],[0.5],[2.3999999999999999],[0.69999999999999996],[2.2999999999999998],[0],[1]]]

[]

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a. Contributions may not be additive due to rounding.

Household saving ratio declined below pre-pandemic levels

The household saving ratio declined from 7.1% to 4.5%, the lowest level since September 2017. Saving fell following a rise in household consumption and a fall in gross disposable income.

Household gross income rose 1.6% driven by labour income (+2.1%). Non-labour income also grew as interest received on deposits rose 25.3%.

Household income payable rose 8.9%, the largest rise since June 2002. Income tax rose, aligned with continued growth in wages, employment and hours worked, plus higher returns on investment income. Interest payable on dwellings rose 23.0%, reflecting further interest rate rises over the quarter.

Household saving ratio, seasonally adjusted
	Household saving ratio (%)
Dec-14	7.8
Mar-15	7.4
Jun-15	7.7
Sep-15	7.0
Dec-15	5.6
Mar-16	5.5
Jun-16	5.9
Sep-16	5.8
Dec-16	5.4
Mar-17	5.5
Jun-17	4.8
Sep-17	4.5
Dec-17	5.0
Mar-18	4.8
Jun-18	4.7
Sep-18	5.0
Dec-18	5.8
Mar-19	6.2
Jun-19	5.3
Sep-19	7.8
Dec-19	6.8
Mar-20	9.3
Jun-20	23.6
Sep-20	20.6
Dec-20	14.4
Mar-21	14.0
Jun-21	11.7
Sep-21	19.3
Dec-21	12.9
Mar-22	11.2
Jun-22	8.3
Sep-22	7.1
Dec-22	4.5

Household saving ratio, seasonally adjusted

["","Household saving ratio"]

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[7.7999999999999998],[7.4000000000000004],[7.7000000000000002],[7],[5.5999999999999996],[5.5],[5.9000000000000004],[5.7999999999999998],[5.4000000000000004],[5.5],[4.7999999999999998],[4.5],[5],[4.7999999999999998],[4.7000000000000002],[5],[5.7999999999999998],[6.2000000000000002],[5.2999999999999998],[7.7999999999999998],[6.7999999999999998],[9.3000000000000007],[23.600000000000001],[20.600000000000001],[14.4],[14],[11.699999999999999],[19.300000000000001],[12.9],[11.199999999999999],[8.3000000000000007],[7.0999999999999996],[4.5]]]

[]

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Contributions to quarterly growth in household disposable income, current prices, seasonally adjusted (a)
	Gross disposable income (ppt)	Labour income (COE) (ppt)	Non-labour income (ppt)	Income payable (ppt)
Dec-14	1.2	0.3	1.2	-0.3
Mar-15	0.4	0.3	0.6	-0.4
Jun-15	1.4	0.7	0.7	0
Sep-15	0.4	0.7	0	-0.2
Dec-15	-0.6	0.6	-0.6	-0.5
Mar-16	0.6	0.8	0.1	-0.3
Jun-16	1.2	0.2	1.2	-0.1
Sep-16	0.8	0.7	0	0.1
Dec-16	0.6	-0.2	0.9	-0.1
Mar-17	1.0	0.7	1.1	-0.9
Jun-17	0.4	1.0	-0.7	0.2
Sep-17	0.5	0.9	0.4	-0.8
Dec-17	2.0	1.1	0.8	0
Mar-18	0.9	0.9	0.5	-0.5
Jun-18	0.8	0.7	0.6	-0.5
Sep-18	0.8	1.1	0.2	-0.5
Dec-18	1.4	0.8	1.0	-0.3
Mar-19	0.9	1.2	-0.1	-0.2
Jun-19	0.1	1.1	-0.5	-0.5
Sep-19	2.8	0.9	0.2	1.7
Dec-19	-0.2	0.7	0.4	-1.3
Mar-20	1.9	0.8	1.2	-0.2
Jun-20	2.9	-1.1	2.6	1.4
Sep-20	3.7	1.7	2.7	-0.7
Dec-20	-2.3	0.9	-3.4	0.2
Mar-21	1.6	1.4	0	0.2
Jun-21	-0.6	0.9	-0.8	-0.7
Sep-21	4.5	0.3	4.6	-0.5
Dec-21	-0.4	1.3	-0.8	-0.9
Mar-22	1.6	1.5	1.3	-1.2
Jun-22	0.6	1.7	-0.2	-0.9
Sep-22	1.8	2.3	1.1	-1.6
Dec-22	-0.7	1.6	0.5	-2.8

Contributions to quarterly growth in household disposable income, current prices, seasonally adjusted (a)

["","Gross disposable income","Labour income (COE)","Non-labour income","Income payable"]

[["Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","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"],[[1.2],[0.40000000000000002],[1.3999999999999999],[0.40000000000000002],[-0.59999999999999998],[0.59999999999999998],[1.2],[0.80000000000000004],[0.59999999999999998],[1],[0.40000000000000002],[0.5],[2],[0.90000000000000002],[0.80000000000000004],[0.80000000000000004],[1.3999999999999999],[0.90000000000000002],[0.10000000000000001],[2.7999999999999998],[-0.20000000000000001],[1.8999999999999999],[2.8999999999999999],[3.7000000000000002],[-2.2999999999999998],[1.6000000000000001],[-0.59999999999999998],[4.5],[-0.40000000000000002],[1.6000000000000001],[0.59999999999999998],[1.8],[-0.69999999999999996]],[[0.29999999999999999],[0.29999999999999999],[0.69999999999999996],[0.69999999999999996],[0.59999999999999998],[0.80000000000000004],[0.20000000000000001],[0.69999999999999996],[-0.20000000000000001],[0.69999999999999996],[1],[0.90000000000000002],[1.1000000000000001],[0.90000000000000002],[0.69999999999999996],[1.1000000000000001],[0.80000000000000004],[1.2],[1.1000000000000001],[0.90000000000000002],[0.69999999999999996],[0.80000000000000004],[-1.1000000000000001],[1.7],[0.90000000000000002],[1.3999999999999999],[0.90000000000000002],[0.29999999999999999],[1.3],[1.5],[1.7],[2.2999999999999998],[1.6000000000000001]],[[1.2],[0.59999999999999998],[0.69999999999999996],[0],[-0.59999999999999998],[0.10000000000000001],[1.2],[0],[0.90000000000000002],[1.1000000000000001],[-0.69999999999999996],[0.40000000000000002],[0.80000000000000004],[0.5],[0.59999999999999998],[0.20000000000000001],[1],[-0.10000000000000001],[-0.5],[0.20000000000000001],[0.40000000000000002],[1.2],[2.6000000000000001],[2.7000000000000002],[-3.3999999999999999],[0],[-0.80000000000000004],[4.5999999999999996],[-0.80000000000000004],[1.3],[-0.20000000000000001],[1.1000000000000001],[0.5]],[[-0.29999999999999999],[-0.40000000000000002],[0],[-0.20000000000000001],[-0.5],[-0.29999999999999999],[-0.10000000000000001],[0.10000000000000001],[-0.10000000000000001],[-0.90000000000000002],[0.20000000000000001],[-0.80000000000000004],[0],[-0.5],[-0.5],[-0.5],[-0.29999999999999999],[-0.20000000000000001],[-0.5],[1.7],[-1.3],[-0.20000000000000001],[1.3999999999999999],[-0.69999999999999996],[0.20000000000000001],[0.20000000000000001],[-0.69999999999999996],[-0.5],[-0.90000000000000002],[-1.2],[-0.90000000000000002],[-1.6000000000000001],[-2.7999999999999998]]]

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a. Contributions may not be additive due to rounding.

Total industry production softened

Gross value added (GVA) rose modestly by 0.3%, as results were mixed across industries.

Mining drove the rise (+3.2%), particularly iron ore mining, as newer mines increased productive capacity. This was partly offset by coal mining as mines in New South Wales suffered from flooding.

Accommodation and food services (+1.4%) and Transport, postal and warehousing (+0.6%) rose aligned with continued household spending on hotels, cafes and restaurants, and domestic air services. Growth in both industries has moderated over the last two quarters as pent-up post-lockdown demand for these services subsided.

Electricity, gas, water and waste services (-4.9%) experienced a large fall with reduced electricity consumption from a mild start to the summer on the east coast.

Gross value added by industry, chain volume measures, seasonally adjusted
	Quarterly growth (%)
Agriculture, Forestry and Fishing	-2.6
Mining	3.2
Manufacturing	-1.8
Electricity, Gas, Water and Waste Services	-4.9
Construction	-0.3
Wholesale Trade	-0.7
Retail Trade	-0.4
Accommodation and Food Services	1.4
Transport, Postal and Warehousing	0.6
Information Media and Telecommunications	2.6
Financial and Insurance Services	-0.2
Rental, Hiring and Real Estate Services	1.1
Professional, Scientific and Technical Services	-1.8
Administrative and Support Services	2.4
Public Administration and Safety	1.7
Education and Training	0.4
Health Care and Social Assistance	-0.3
Arts and Recreation Services	2.4
Other Services	4.9

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"],[[-2.6000000000000001],[3.2000000000000002],[-1.8],[-4.9000000000000004],[-0.29999999999999999],[-0.69999999999999996],[-0.40000000000000002],[1.3999999999999999],[0.59999999999999998],[2.6000000000000001],[-0.20000000000000001],[1.1000000000000001],[-1.8],[2.3999999999999999],[1.7],[0.40000000000000002],[-0.29999999999999999],[2.3999999999999999],[4.9000000000000004]]]

[]

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Expenditure

Expenditure
			Sep 22 to Dec 22	Dec 21 to Dec 22	Sep 22 to Dec 22
			% change	% change	% points contribution to GDP growth
Final consumption expenditure
	General government		0.6	2.4	0.1
	Households		0.3	5.4	0.2
	Total final consumption expenditure		0.4	4.5	0.3
Gross fixed capital formation
	Private
		Dwellings	-0.9	-3.7	-
		Ownership transfer costs	-6.2	-20.6	-0.1
		Non-dwelling construction	-2.7	2.7	-0.1
		Machinery and equipment	-1.2	4.6	-
		Cultivated biological resources	2.9	10.1	-
		Intellectual property products	1.0	0.6	-
	Public		-0.7	2.8	-
	Total gross fixed capital formation		-1.4	-0.4	-0.3
Changes in inventories			na	na	-0.5
Gross national expenditure			-0.5	3.2	-0.5
Exports of goods and services			1.1	7.7	0.2
Imports of goods and services			-4.3	12.1	0.9
Statistical discrepancy (E)			na	na	-0.1
Gross domestic product			0.5	2.7	0.5

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

Final consumption expenditure (FCE) 0.4%

Gross fixed capital formation (GFCF) -1.4%

Changes in inventories

Exports and imports of goods and services

Income

Income estimates are in seasonally adjusted current prices

Income
		Sep 22 to Dec 22	Dec 21 to Dec 22	Sep 22 to Dec 22
		% change	% change	% points contribution to GDP growth
Compensation of employees		2.1	10.4	0.9
Gross operating surplus
	Private non-financial corporations	3.7	21.1	0.9
	Other (a)	1.7	7.7	0.1
Gross mixed income		-1.5	-0.5	-0.1
Taxes less subsidies on production and imports		2.0	17.6	0.2
Statistical discrepancy (I)		na	na	-
Gross domestic product		2.1	12.0	2.1

- 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.

Compensation of employees (COE) 2.1%

State compensation of employees, current prices, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
NSW	2.1	10.2
Vic.	1.3	9.5
Qld	2.9	11.7
SA	2.8	11.6
WA	1.3	9.6
Tas.	3.9	12.7
NT	2.4	10.5
ACT	3.0	9.9
Aust.	2.1	10.4

Gross operating surplus (GOS) 2.9%

Taxes less subsidies on production and imports 2.0%

Production

Production
	Sep 22 to Dec 22	Dec 21 to Dec 22	Sep 22 to Dec 22
	% change	% change	% points contribution to GDP growth
Agriculture, Forestry and Fishing	-2.6	-9.1	-0.1
Mining	3.2	4.8	0.3
Manufacturing	-1.8	-2.9	-0.1
Electricity, Gas, Water and Waste Services	-4.9	0.2	-0.1
Construction	-0.3	1.8	-
Wholesale Trade	-0.7	1.9	-
Retail Trade	-0.4	0.9	-
Accommodation and Food Services	1.4	20.3	-
Transport, Postal and Warehousing	0.6	13.0	-
Information Media and Telecommunications	2.6	9.2	0.1
Financial and Insurance Services	-0.2	0.6	-
Rental, Hiring and Real Estate Services	1.1	0.3	-
Professional, Scientific and Technical Services	-1.8	4.4	-0.1
Administrative and Support Services	2.4	6.6	0.1
Public Administration and Safety	1.7	0.8	0.1
Education and Training	0.4	1.4	-
Health Care and Social Assistance	-0.3	1.0	-
Arts and Recreation Services	2.4	10.1	-
Other Services	4.9	5.0	0.1
Ownership of dwellings	0.5	1.9	-
Taxes less subsidies on products	1.5	3.2	0.1
Statistical discrepancy (P)	na	na	0.1
Gross domestic product	0.5	2.7	0.5

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

Agriculture, Forestry and Fishing -2.6%

Mining 3.2%

Manufacturing -1.8%

Electricity, Gas, Water and Waste Services -4.9%

Construction -0.3%

Wholesale Trade -0.7%

Retail Trade -0.4%

Accommodation and Food Services 1.4%

Transport, Postal and Warehousing 0.6%

Information Media and Telecommunications 2.6%

Financial and Insurance Services -0.2%

Rental, Hiring and Real Estate Services 1.1%

Professional, Scientific and Technical Services -1.8%

Administrative and Support Services 2.4%

Health Care and Social Assistance -0.3%

Arts and Recreation Services 2.4%

Other Services 4.9%

State and territory final demand

State and territory final demand, percentage changes (a)
		Sep 22 to Dec 22
		NSW	Vic.	Qld	SA	WA	Tas.	NT	ACT	Aust.(b)
Final consumption expenditure
	General government	0.5	1.5	1.2	1.6	-2.8	1.0	-0.9	1.6	0.6
	Households	0.2	0.4	-0.1	-0.1	1.6	0.0	0.2	0.1	0.3
Gross fixed capital formation
	Private	-1.8	-1.0	-3.4	-2.2	-0.6	-2.3	0.0	-3.4	-1.7
	Public	-0.1	-3.1	1.6	-3.3	2.0	0.3	-4.6	-2.6	-0.7
State final demand		-0.1	0.2	-0.3	-0.2	0.1	0.0	-0.5	0.3	0.0

- 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 decreased 0.1% for the quarter.
Victoria's state final demand increased 0.2% for the quarter.
Queensland's state final demand decreased 0.3% for the quarter.
South Australia's state final demand decreased 0.2% for the quarter.
Western Australia's state final demand increased 0.1% for the quarter.
Tasmania's state final demand was unchanged for the quarter.
Northern Territory's state final demand decreased 0.5% for the quarter.
Australian Capital Territory's state final demand increased 0.3% for the quarter.

New South Wales -0.1%

Victoria 0.2%

Queensland -0.3%

South Australia -0.2%

Western Australia 0.1%

Tasmania 0.0%

Northern Territory -0.5%

Australian Capital Territory 0.3%

Key tables

Key national accounts aggregates

Key national accounts aggregates, percentage changes (a)
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22
Chain volume GDP and related measures (b)
	GDP	3.7	0.6	0.9	0.7	0.5	2.7
	GDP per capita (c)	3.4	0.2	0.4	0.1	-	0.8
	Gross value added market sector (d)	3.6	0.7	1.2	1.1	0.2	3.2
	Net domestic product	4.3	0.6	1.0	0.7	0.5	2.7
Real income measures (b)
	Real gross domestic income	2.1	2.4	2.1	-0.7	0.6	4.4
	Real gross national income	1.0	2.0	1.0	-0.8	1.4	3.6
	Real net national disposable income	1.0	2.3	1.1	-1.0	1.6	4.0
	Real net national disposable income per capita (c)	0.8	2.0	0.7	-1.5	1.1	2.2
Current price measures
	GDP	3.2	4.3	4.0	1.2	2.1	12.0
Productivity
	Hours worked	2.6	0.1	3.9	0.5	1.9	6.4
	Hours worked market sector (d)	3.5	0.8	4.7	0.4	2.7	8.9
	GDP per hour worked	1.0	0.5	-2.9	0.2	-1.4	-3.5
	Gross value added per hour worked market sector (d)	0.2	-0.1	-3.4	0.7	-2.4	-5.2
	Real unit labour costs	-0.8	-2.3	-1.3	1.7	0.1	-1.8
	Real unit labour costs - non-farm	-0.2	-2.3	-1.1	1.5	-0.3	-2.1
Prices
	GDP implicit price deflator	-0.4	3.7	3.1	0.5	1.6	9.1
	Domestic final demand implicit price deflator	1.1	1.5	1.6	2.0	1.4	6.6
	Terms of trade	-6.2	8.4	4.5	-5.9	0.6	7.2

- 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 2020-21.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
d. ANZSIC divisions A to N, R and S. See Glossary - Market sector.

Key national accounts aggregates, levels
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22
Chain volume GDP and related measures (a)
	GDP ($m)	541 273	544 364	549 274	553 036	555 690
	GDP per capita (b) ($)	21 000	21 050	21 144	21 176	21 175
	Gross value added market sector (c) ($m)	367 543	370 076	374 334	378 508	379 449
	Net domestic product ($m)	449 139	451 695	456 044	459 248	461 360
Real income measures (a)
	Real gross domestic income ($m)	546 072	558 959	570 624	566 449	570 026
	Real gross national income ($m)	526 562	536 980	542 415	538 191	545 781
	Real net national disposable income ($m)	433 653	443 585	448 492	444 117	451 090
	Real net national disposable income per capita (b) ($)	16 824	17 153	17 265	17 005	17 189
Current price measures
	GDP ($m)	563 583	587 758	611 328	618 436	631 402
	GDP per capita (b) ($)	21 865	22 728	23 533	23 680	24 060
	Gross national income ($m)	544 109	566 048	582 969	588 839	605 711
	National net saving ($m)	40 905	47 210	51 724	45 511	53 580
	Household saving ratio	12.9	11.2	8.3	7.1	4.5
Prices
	Terms of trade (index) (d)	104.2	113.0	118.1	111.1	111.7

- nil or rounded to zero
a. Reference year for chain volume measures and real income measures is 2020-21.
b. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) and ABS projections.
c. ANZSIC divisions A to N, R and S. See Glossary - Market sector.
d. Reference year for indexes is 2020-21 = 100.0.

Key national accounts aggregates, revisions to percentage changes (a)
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22
Chain volume GDP and related measures (b)
	GDP	-0.1	0.2	-	0.1
	GDP per capita (c)	-0.1	0.1	-0.2	-0.3
	Gross value added market sector (d)	-0.1	0.2	-0.1	-
	Net domestic product	-0.2	0.2	0.1	-
Real income measures (b)
	Real gross domestic income	-0.2	0.2	-	0.3
	Real gross national income	-1.0	0.8	-0.8	1.2
	Real net national disposable income	-1.3	1.0	-1.0	1.5
	Real net national disposable income per capita (c)	-1.2	1.0	-1.2	1.2
Current price measures
	GDP	-0.4	0.2	-0.1	0.4
	Household saving ratio (e)	-	-	-	0.2
Productivity
	Hours worked	-	0.1	0.1	0.5
	Hours worked market sector (d)	-	-	0.1	-
	GDP per hour worked	-0.2	0.1	-0.1	-0.4
	Gross value added per hour worked market sector (d)	-	0.2	-0.2	-
	Real unit labour costs	0.1	-0.2	0.2	-0.3
	Real unit labour costs - non-farm	0.1	-	0.1	-0.2
Prices
	Terms of trade	-0.3	0.2	-0.3	0.7

- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2020-21.
c. Population estimates are as published in the National, state and territory population (cat. no. 3101.0) 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)
	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22	Contribution to growth, Sep 22 to Dec 22
Final consumption expenditure
	General government	1.2	2.7	-1.1	0.2	0.6	2.4	0.1
	Households	6.3	1.8	2.2	1.0	0.3	5.4	0.2
		Goods	5.3	1.4	-0.3	-0.2	-1.0	-0.2	-0.2
		Services	7.0	2.1	3.9	1.7	1.2	9.2	0.4
		Essential	1.3	0.4	1.0	0.3	0.3	2.0	0.1
		Discretionary	15.0	4.0	3.9	1.9	0.4	10.5	0.1
Gross fixed capital formation
	Private	-0.4	0.1	-0.9	1.2	-1.7	-1.3	-0.3
		Mining	3.8	-2.1	-3.1	2.1	0.3	-2.9	-
		Non-mining	-1.0	1.8	1.5	3.8	-1.9	5.2	-0.2
		Total private business investment	0.2	0.8	0.3	3.4	-1.4	3.1	-0.2
	Public	-1.5	1.9	5.2	-3.5	-0.7	2.8	-
Final demand
	Public	0.7	2.5	-	-0.5	0.4	2.5	0.1
	Private	4.5	1.4	1.4	1.0	-0.2	3.7	-0.1

Analytical expenditure aggregates, revisions to percentage changes (a)
	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22
Final consumption expenditure
	General government	-	-	-0.5	0.1
	Households	-0.1	-	0.1	-0.1
		Goods	-	0.1	0.3	-0.5
		Services	-0.1	-	-	-
		Essential	0.1	0.1	0.2	-0.3
		Discretionary	-0.1	-	-	0.1
Gross fixed capital formation
	Private	-0.1	-	-	0.4
		Mining	-0.9	0.5	0.2	0.8
		Non-mining	-	-0.2	-	0.9
		Total private business investment	-0.2	-	-	0.9
	Public	0.4	-0.2	-0.1	-0.1
Final demand
	Public	-	-0.1	-0.4	0.1
	Private	-	-	0.1	-

Expenditure aggregates

Expenditure aggregates, contributions to growth
	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22
Final consumption expenditure
	General government	0.3	0.6	-0.3	0.1	0.1
	Households	3.1	0.9	1.1	0.5	0.2
Gross fixed capital formation
	Private	-0.1	-	-0.2	0.2	-0.3
	Public	-0.1	0.1	0.3	-0.2	-
Domestic final demand	3.2	1.6	1.0	0.6	-
Changes in inventories	0.7	1.0	-1.0	0.4	-0.5
Exports of goods and services	-	-0.2	1.1	0.5	0.2
Imports of goods and services	-0.3	-1.9	-0.3	-0.8	0.9
Statistical discrepancy (E)	0.1	0.1	0.1	-	-0.1
Gross domestic product	3.7	0.6	0.9	0.7	0.5

Expenditure on GDP

Expenditure on GDP, percentage changes (a)
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22	Contribution to growth, Sep 22 to Dec 22
Final consumption expenditure
	General government	1.2	2.7	-1.1	0.2	0.6	2.4	0.1
	Households	6.3	1.8	2.2	1.0	0.3	5.4	0.2
	Total final consumption expenditure	4.7	2.1	1.2	0.7	0.4	4.5	0.3
Private gross fixed capital formation
	Dwellings	-1.5	-0.4	-3.1	0.7	-0.9	-3.7	-
	Ownership transfer costs	-1.1	-2.5	-2.1	-11.2	-6.2	-20.6	-0.1
	Non-dwelling construction	1.1	-1.1	-3.0	10.0	-2.7	2.7	-0.1
	Machinery and equipment	-1.5	3.2	4.8	-2.2	-1.2	4.6	-
	Cultivated biological resources	10.3	2.8	1.3	2.7	2.9	10.1	-
	Intellectual property products	0.4	0.3	-0.7	0.0	1.0	0.6	-
	Total private gross fixed capital formation	-0.4	0.1	-0.9	1.2	-1.7	-1.3	-0.3
Public gross fixed capital formation
	Public corporations	0.5	1.7	2.8	2.9	3.5	11.3	-
	General government	-2.0	2.0	5.8	-5.2	-1.9	0.3	-0.1
	Total public gross fixed capital formation	-1.5	1.9	5.2	-3.5	-0.7	2.8	-
Total gross fixed capital formation		-0.7	0.5	0.5	0.1	-1.4	-0.4	-0.3
Domestic final demand		3.4	1.7	1.0	0.6	0.0	3.3	-
Changes in inventories		. .	. .	. .	. .	. .	. .	-0.5
Exports of goods and services		-0.2	-1.1	5.2	2.5	1.1	7.7	0.2
Imports of goods and services		1.5	11.1	1.4	4.0	-4.3	12.1	0.9
Statistical discrepancy (E)		. .	. .	. .	. .	. .	. .	-0.1
Gross domestic product		3.7	0.6	0.9	0.7	0.5	2.7	0.5

. . 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)
		Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22
Final consumption expenditure
	General government	-	-	-0.5	0.1
	Households	-0.1	-	0.1	-0.1
	Total final consumption expenditure	-	-	-	-0.1
Private gross fixed capital formation
	Dwellings	-0.1	0.1	-	-0.3
	Ownership transfer costs	-	-	-	-
	Non-dwelling construction	-0.1	-	0.1	1.4
	Machinery and equipment	-0.2	-0.2	-0.3	0.5
	Cultivated biological resources	-2.1	1.6	0.4	1.1
	Intellectual property products	-0.3	-0.1	0.3	-
	Total private gross fixed capital formation	-0.1	-	-	0.4
Public gross fixed capital formation
	Public corporations	-1.0	0.4	-0.1	0.2
	General government	0.9	-0.3	-0.2	-0.2
	Total public gross fixed capital formation	0.4	-0.2	-0.1	-0.1
Total gross fixed capital formation		-0.1	-	-	0.3
Domestic final demand		-	-	-	-
Gross national expenditure		-0.4	0.2	-	0.2
Exports of goods and services		-	-0.2	-0.1	-0.2
Imports of goods and services		0.2	-0.4	-	0.1
Gross domestic product		-0.1	0.2	-	0.1

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

Household final consumption expenditure

Household final consumption expenditure, percentage changes (a)
	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22	Contribution to growth, Sep 22 to Dec 22
Food	-3.1	-1.7	-0.7	-0.8	2.4	-0.9	0.2
Cigarettes and tobacco	-3.5	-3.1	-3.5	-2.8	-0.8	-9.8	-
Alcoholic beverages	-1.5	-2.2	2.5	-0.8	-0.5	-1.1	-
Clothing and footwear	41.6	3.6	4.3	3.1	-2.7	8.3	-0.1
Rent and other dwelling services	0.4	0.5	0.5	0.5	0.5	1.9	0.1
Electricity, gas and other fuel	-1.9	-2.4	3.7	-9.9	1.8	-7.1	-
Furnishings and household equipment	7.6	0.0	-0.8	-1.5	-1.2	-3.5	-0.1
Health	8.2	-1.7	3.2	1.8	1.1	4.3	0.1
Purchase of vehicles	-2.5	12.8	-4.4	10.0	2.9	22.0	0.1
Operation of vehicles	13.4	0.6	3.0	3.5	-1.8	5.3	-0.1
Transport services	55.1	65.4	36.2	12.8	5.7	168.5	0.1
Communications	1.0	1.4	1.1	-0.3	0.8	3.1	-
Recreation and culture	17.6	5.6	3.8	-0.8	-1.4	7.1	-0.2
Education services	0.6	-0.3	0.4	0.8	0.4	1.3	-
Hotels, cafes and restaurants	25.8	6.5	8.1	5.2	1.6	23.0	0.1
Insurance and other financial services	0.2	0.4	0.1	0.3	0.1	0.9	-
Other goods and services	8.0	1.7	2.9	1.5	-0.3	5.9	-
Total	6.3	1.8	2.2	1.0	0.3	5.4	0.3

Industry gross value added

Industry gross value added, percentage changes (a)
	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22	Contribution to growth, Sep 22 to Dec 22
Agriculture, Forestry and Fishing	9.0	-7.1	2.8	-2.2	-2.6	-9.1	-0.1
Mining	-1.3	-1.1	0.2	2.4	3.2	4.8	0.3
Manufacturing	2.2	0.6	-0.8	-1.0	-1.8	-2.9	-0.1
Electricity, Gas, Water and Waste Services	-0.7	1.5	3.5	0.2	-4.9	0.2	-0.1
Construction	2.7	0.9	0.1	1.1	-0.3	1.8	-
Wholesale Trade	4.7	3.3	-2.0	1.3	-0.7	1.9	-
Retail Trade	6.9	0.5	0.2	0.7	-0.4	0.9	-
Accommodation and Food Services	23.8	3.7	11.2	2.9	1.4	20.3	-
Transport, Postal and Warehousing	3.3	3.9	5.2	2.8	0.6	13.0	-
Information Media and Telecommunications	6.8	2.6	1.5	2.2	2.6	9.2	0.1
Financial and Insurance Services	0.8	-0.3	0.7	0.4	-0.2	0.6	-
Rental, Hiring and Real Estate Services	1.3	-1.3	0.6	-0.2	1.1	0.3	-
Professional, Scientific and Technical Services	4.7	3.2	0.9	2.2	-1.8	4.4	-0.1
Administrative and Support Services	5.0	0.8	1.2	2.0	2.4	6.6	0.1
Public Administration and Safety	1.3	-	-0.6	-0.2	1.7	0.8	0.1
Education and Training	0.3	0.3	0.3	0.4	0.4	1.4	-
Health Care and Social Assistance	5.7	-0.7	2.4	-0.2	-0.3	1.0	-
Arts and Recreation Services	9.1	4.5	4.4	-1.4	2.4	10.1	-
Other Services	18.3	-0.4	1.9	-1.5	4.9	5.0	0.1
Ownership of dwellings	0.5	0.5	0.5	0.5	0.5	1.9	-
Gross value added at basic prices	3.2	0.5	1.1	0.8	0.3	2.7	0.3
Taxes less subsidies on products	6.9	2.0	0.3	-0.6	1.5	3.2	0.1
Statistical discrepancy (P)	. .	. .	. .	. .	. .	. .	0.1
Gross domestic product	3.7	0.6	0.9	0.7	0.5	2.7	0.5

. . 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)
	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22
Agriculture, Forestry and Fishing	2.3	2.3	-0.9	-1.8
Mining	-0.6	0.5	-0.1	1.2
Manufacturing	0.2	-0.2	-	0.3
Electricity, Gas, Water and Waste Services	0.6	-0.2	-0.5	-0.2
Construction	-0.5	-	-0.3	-1.2
Wholesale Trade	0.1	-0.3	0.1	-
Retail Trade	0.1	-0.1	0.1	0.1
Accommodation and Food Services	-	-	-	-0.5
Transport, Postal and Warehousing	0.2	0.5	-0.5	-0.7
Information Media and Telecommunications	0.2	-	-0.1	1.1
Financial and Insurance Services	-	0.1	-0.1	0.1
Rental, Hiring and Real Estate Services	-0.4	-	-	0.4
Professional, Scientific and Technical Services	-0.1	0.2	-0.2	0.6
Administrative and Support Services	-	-	-	-1.3
Public Administration and Safety	-	-	-	-
Education and Training	-	-	-	-
Health Care and Social Assistance	-0.1	0.1	0.1	-
Arts and Recreation Services	-	-	-	-1.1
Other Services	-	-	-	-0.8
Ownership of dwellings	-	-	-	-
Gross value added at basic prices	-	0.1	-0.1	-
Taxes less subsidies on products	-0.3	-	0.4	0.2
Gross domestic product	-0.1	0.2	-	0.1

- 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)
			Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22	Sep 22 to Dec 22	Through the year, Dec 21 to Dec 22	Contribution to growth, Sep 22 to Dec 22
Compensation of employees
	Wages and salaries		1.7	2.1	2.6	3.0	2.1	10.2	0.8
	Employers' social contributions (b)		1.6	2.2	2.3	5.1	2.0	12.0	0.1
	Total compensation of employees		1.7	2.1	2.6	3.2	2.1	10.4	0.9
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	1.4	9.4	11.4	-4.1	3.7	21.1	0.9
		Public non-financial corporations	-3.2	3.6	12.0	-6.0	5.8	15.4	-
		Total non-financial corporations	1.3	9.2	11.4	-4.2	3.7	20.9	0.9
	Financial corporations		-	0.1	2.5	5.1	0.5	8.4	-
	Total corporations		1.1	7.7	10.1	-2.8	3.2	18.9	0.9
	General government		1.8	1.6	1.4	1.1	1.3	5.5	-
	Dwellings owned by persons		0.4	1.8	1.4	1.7	2.1	7.1	0.1
	Total gross operating surplus		1.0	6.2	8.0	-1.8	2.9	15.8	1.1
Gross mixed income			3.2	-2.0	3.0	-	-1.5	-0.5	-0.1
Total factor income			1.6	3.3	4.8	0.8	2.1	11.5	1.9
Taxes less subsidies on production and imports			29.8	15.0	-3.3	3.7	2.0	17.6	0.2
Statistical discrepancy (I)			. .	. .	. .	. .	. .	. .	-
Gross domestic product			3.2	4.3	4.0	1.2	2.1	12.0	2.1

. . 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)
			Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Jun 22 to Sep 22
Compensation of employees
	Wages and salaries		-0.2	0.1	0.1	-
	Employers' social contributions (b)		-0.3	0.2	0.1	0.1
	Total compensation of employees		-0.2	0.1	0.1	-
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	-	-	-	0.6
		Public non-financial corporations	-	0.3	0.2	2.6
		Total non-financial corporations	-	0.1	-	0.7
	Financial corporations		-0.1	0.1	-0.1	0.2
	Total corporations		-	0.1	-	0.7
	General government		-	-	-	-
	Dwellings owned by persons		-0.2	0.1	-	0.1
	Total gross operating surplus		-	0.1	-	0.5
Gross mixed income			-0.5	1.2	-	1.7
Total factor income			-0.1	0.1	-	0.4
Taxes less subsidies on production and imports			-0.2	-0.4	0.3	-0.6
Gross domestic product			-0.4	0.2	-0.1	0.4

- 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)
		Sep 22 to Dec 22
Final consumption expenditure
	General government	0.5	1.5	1.2	1.6	-2.8	1.0	-0.9	1.6	0.6
	Households	0.2	0.4	-0.1	-0.1	1.6	0.0	0.2	0.1	0.3
Gross fixed capital formation
	Private	-1.8	-1.0	-3.4	-2.2	-0.6	-2.3	0.0	-3.4	-1.7
	Public	-0.1	-3.1	1.6	-3.3	2.0	0.3	-4.6	-2.6	-0.7
State final demand	-0.1	0.2	-0.3	-0.2	0.1	0.0	-0.5	0.3	0.0

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.

Seasonally adjusted and trend estimates

In the March quarter 2020 issue of Australian National Accounts: National Income, Expenditure and Product, the ABS advised that the method used to produce seasonally adjusted estimates would be changed from the ‘concurrent’ method to the ‘forward factors’ method for series with significant and prolonged impacts from COVID-19. Trend estimates for all series were also suspended from June 2019 (inclusive).

Over the March 2023 and June 2023 quarters, annual seasonal reanalysis of national accounts series will be conducted. As part of this process, the suspension of trend estimates and use of the forward factor method for series with significant and prolonged impacts from COVID-19 will be reviewed. Revisions to seasonally adjusted estimates will occur as part of this process.

Data downloads

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Time series spreadsheets

Data files

Table 1. Key National Accounts Aggregates
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Table 2. Expenditure on Gross Domestic Product (GDP), Chain volume measures
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Table 3. Expenditure on Gross Domestic Product (GDP), Current prices
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Table 4. Expenditure on Gross Domestic Product (GDP), Chain price indexes
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Table 5. Expenditure on Gross Domestic Product (GDP), Implicit price deflators
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Table 6. Gross Value Added by Industry, Chain volume measures
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Table 7. Income from Gross Domestic Product (GDP), Current prices
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Table 8. Household Final Consumption Expenditure (HFCE)
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Table 9. Changes in Inventories
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Table 10. Agricultural Income, Current prices
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Table 11. National Income Account, Current prices
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Table 12. National Capital Account, Current prices
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Table 13. Non-Financial Corporations Income Account, Current prices
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Table 14. Private Non-Financial Corporations Income Account, Current prices
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Table 15. Public Non-Financial Corporations Income Account, Current prices
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Table 16. Financial Corporations Income Account, Current prices
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Table 17. General Government Income Account, Current prices
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Table 18. National General Government Income Account, Current prices
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Table 19. State and Local General Government Income Account, Current prices
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Table 20. Household Income Account, Current prices
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Table 21. External Account, Current prices
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Table 22. Taxes, Current prices
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Table 23. Social Assistance Benefits Payments, Current prices
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Table 24. Selected Analytical Series
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Table 25. State Final Demand, Summary Components by State: Chain volume measures
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Table 26. State Final Demand, Detailed Components: New South Wales
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Table 27. State Final Demand, Detailed Components: Victoria
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Table 28. State Final Demand, Detailed Components: Queensland
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Table 29. State Final Demand, Detailed Components: South Australia
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Table 30. State Final Demand, Detailed Components: Western Australia
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Table 31. State Final Demand, Detailed Components: Tasmania
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Table 32. State Final Demand, Detailed Components: Northern Territory
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Table 33. State Final Demand, Detailed Components: Australian Capital Territory
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Table 34. Key Aggregates and analytical series, Annual
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Table 35. Income from GDP and Changes in Inventories, Annual
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Table 36. Expenditure on Gross Domestic Product (GDP), Chain volume measures and Current prices, Annual
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Table 37. Industry Gross Value Added, Chain volume measures, Annual
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Table 38. National Income Account, Current prices, Annual
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Table 39. National Capital Account, Current prices, Annual
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Table 40. External Account, Current prices, Annual
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Table 41. Indexes of Industrial Production
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Table 42. Unit Labour Costs
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Table 43. Indexes of Industrial Production, Annual
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Table 44. Compensation of Employees, State by Sector: Current prices
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Table 45. Gross Value Added by Industry, Current prices
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Data cubes

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

Data files

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Previous catalogue number

This release previously used catalogue number 5206.0.

Methodology

Australian National Accounts: National Income, Expenditure and Product methodology, December 2022

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APA

Australian National Accounts: National Income, Expenditure and Product

APA

Key statistics

In this release

Seasonal reanalysis of national accounts series

Economic overview

Australian economy grew 0.5% in the December quarter 2022

Domestic price pressures continued

Net trade contributed to growth

Exports increased for the third consecutive quarter

Household spending moderated

Private housing and business investment both declined

Growth in COE continued in the tight labour market

Operating surplus rose as mining profits recovered

Household saving ratio declined below pre-pandemic levels

Total industry production softened

Expenditure

Final consumption expenditure (FCE) 0.4%

Gross fixed capital formation (GFCF) -1.4%

Changes in inventories

Exports and imports of goods and services

Income

Compensation of employees (COE) 2.1%

Gross operating surplus (GOS) 2.9%

Taxes less subsidies on production and imports 2.0%

Production

Agriculture, Forestry and Fishing -2.6%

Mining 3.2%

Manufacturing -1.8%

Electricity, Gas, Water and Waste Services -4.9%

Construction -0.3%

Wholesale Trade -0.7%

Retail Trade -0.4%

Accommodation and Food Services 1.4%

Transport, Postal and Warehousing 0.6%

Information Media and Telecommunications 2.6%

Financial and Insurance Services -0.2%

Rental, Hiring and Real Estate Services 1.1%

Professional, Scientific and Technical Services -1.8%

Administrative and Support Services 2.4%

Health Care and Social Assistance -0.3%

Arts and Recreation Services 2.4%

Other Services 4.9%

State and territory final demand

Quarterly volume measures, seasonally adjusted

New South Wales -0.1%

Victoria 0.2%

Queensland -0.3%

South Australia -0.2%

Western Australia 0.1%

Tasmania 0.0%

Northern Territory -0.5%

Australian Capital Territory 0.3%

Key tables

Key national accounts aggregates

Analytical expenditure aggregates

Expenditure aggregates

Expenditure on GDP

Household final consumption expenditure

Industry gross value added

Income from GDP

State final demand

Revisions and changes

Revisions in this issue

Seasonally adjusted and trend estimates

Data downloads

Time series spreadsheets

Table 1. Key National Accounts Aggregates

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

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

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

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

Table 6. Gross Value Added by Industry, Chain volume measures

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

Table 8. Household Final Consumption Expenditure (HFCE)

Table 9. Changes in Inventories

Table 10. Agricultural Income, Current prices

Table 11. National Income Account, Current prices

Table 12. National Capital Account, Current prices