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

June 2022

Released

7/09/2022

View all releases

Key statistics

The Australian economy rose 0.9% in seasonally adjusted chain volume measures
GDP rose 3.9% in 2021-22
The terms of trade rose 4.6%
Household saving ratio decreased to 8.7% from 11.1%

In this release

For a breakdown of key information from this and other recent economic releases, see 16 things that happened in the Australian economy in June quarter 2022.

This quarter's National Accounts includes the following articles:

Economic overview

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

The reference year for chain volume measures is 2019-20.

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

June key figures, percentage changes (a)

		Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22
Chain volume GDP and related measures (b)
	GDP	0.6	-1.8	3.9	0.7	0.9	3.6
	GDP per capita (c)	0.3	-1.9	3.6	0.5	0.5	2.7
	Gross value added market sector (d)	1.2	-1.4	3.8	0.8	1.3	4.4
	Real net national disposable income	2.1	-3.8	2.4	1.9	2.7	3.0
Productivity
	GDP per hour worked	-1.4	3.0	-0.7	1.2	-1.9	1.5
	Real unit labour costs	0.4	-0.1	-1.0	-2.2	-1.6	-4.8
Prices
	GDP chain price index (original)	3.2	-0.1	-0.8	5.0	4.3	8.7
	Terms of trade	6.9	0.6	-5.1	7.5	4.6	7.5
Current price measures
	GDP	2.7	-0.3	3.6	4.1	4.3	12.1
	Household saving ratio	11.7	19.8	13.5	11.1	8.7	na

na not available

a. Change on preceding quarter, except for the last column which shows the change between the current quarter and the corresponding quarter of the previous year. Excludes Household saving ratio.
b. Reference year for chain volume measures and real income measures is 2019-20.
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 rose 0.9% in the June quarter 2022

Gross Domestic Product (GDP) rose 0.9% this quarter, following a rise of 0.7% in March. The continued growth was aided by the first full quarter of re-opened domestic and international borders since the pandemic began.

The Australian economy grew by 3.9% over 2021-22. This is the strongest year-on-year growth since 2011-12 and a recovery from the Delta-affected 1.6% rise in the previous financial year. For further analysis on the impacts of the pandemic on economic growth, see Economic gains and losses over the COVID-19 pandemic.

Gross domestic product, chain volume measures, seasonally adjusted
	Levels (RHS) ($b)	Quarterly growth (%)
Jun-14	443.1	0.4
Sep-14	445.1	0.5
Dec-14	446.8	0.4
Mar-15	451.0	0.9
Jun-15	451.4	0.1
Sep-15	456.0	1.0
Dec-15	458.9	0.6
Mar-16	462.9	0.9
Jun-16	465.7	0.6
Sep-16	466.3	0.1
Dec-16	471.4	1.1
Mar-17	472.7	0.3
Jun-17	475.4	0.6
Sep-17	480.1	1.0
Dec-17	482.4	0.5
Mar-18	487.0	0.9
Jun-18	490.5	0.7
Sep-18	492.6	0.4
Dec-18	493.7	0.2
Mar-19	496.1	0.5
Jun-19	498.5	0.5
Sep-19	502.7	0.8
Dec-19	505.3	0.5
Mar-20	504.1	-0.2
Jun-20	468.8	-7.0
Sep-20	485.1	3.5
Dec-20	501.8	3.4
Mar-21	511.6	1.9
Jun-21	514.6	0.6
Sep-21	505.2	-1.8
Dec-21	524.6	3.9
Mar-22	528.4	0.7
Jun-22	533.1	0.9

Gross domestic product, chain volume measures, seasonally adjusted

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

[["Jun-14","Sep-14","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"],[[443.10000000000002],[445.10000000000002],[446.80000000000001],[451],[451.39999999999998],[456],[458.89999999999998],[462.89999999999998],[465.69999999999999],[466.30000000000001],[471.39999999999998],[472.69999999999999],[475.39999999999998],[480.10000000000002],[482.39999999999998],[487],[490.5],[492.60000000000002],[493.69999999999999],[496.10000000000002],[498.5],[502.69999999999999],[505.30000000000001],[504.10000000000002],[468.80000000000001],[485.10000000000002],[501.80000000000001],[511.60000000000002],[514.60000000000002],[505.19999999999999],[524.60000000000002],[528.39999999999998],[533.10000000000002]],[[0.40000000000000002],[0.5],[0.40000000000000002],[0.90000000000000002],[0.10000000000000001],[1],[0.59999999999999998],[0.90000000000000002],[0.59999999999999998],[0.10000000000000001],[1.1000000000000001],[0.29999999999999999],[0.59999999999999998],[1],[0.5],[0.90000000000000002],[0.69999999999999996],[0.40000000000000002],[0.20000000000000001],[0.5],[0.5],[0.80000000000000004],[0.5],[-0.20000000000000001],[-7],[3.5],[3.3999999999999999],[1.8999999999999999],[0.59999999999999998],[-1.8],[3.8999999999999999],[0.69999999999999996],[0.90000000000000002]]]

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Annual growth in Gross domestic product, chain volume measures, original
	Volume GDP (%)
Jun-00	3.9
Jun-01	2.0
Jun-02	4.0
Jun-03	3.1
Jun-04	4.2
Jun-05	3.2
Jun-06	2.7
Jun-07	3.8
Jun-08	3.6
Jun-09	1.9
Jun-10	2.2
Jun-11	2.5
Jun-12	3.9
Jun-13	2.6
Jun-14	2.6
Jun-15	2.2
Jun-16	2.7
Jun-17	2.3
Jun-18	2.9
Jun-19	2.1
Jun-20	0.0
Jun-21	1.6
Jun-22	3.9

Annual growth in Gross domestic product, chain volume measures, original

["","Volume GDP"]

[["Jun-00","Jun-01","Jun-02","Jun-03","Jun-04","Jun-05","Jun-06","Jun-07","Jun-08","Jun-09","Jun-10","Jun-11","Jun-12","Jun-13","Jun-14","Jun-15","Jun-16","Jun-17","Jun-18","Jun-19","Jun-20","Jun-21","Jun-22"],[[3.8999999999999999],[2],[4],[3.1000000000000001],[4.2000000000000002],[3.2000000000000002],[2.7000000000000002],[3.7999999999999998],[3.6000000000000001],[1.8999999999999999],[2.2000000000000002],[2.5],[3.8999999999999999],[2.6000000000000001],[2.6000000000000001],[2.2000000000000002],[2.7000000000000002],[2.2999999999999998],[2.8999999999999999],[2.1000000000000001],[0],[1.6000000000000001],[3.8999999999999999]]]

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Domestic demand remains strong

Domestic final demand contributed 1.0 percentage point to GDP growth. Household final consumption expenditure contributed 1.1 percentage points, driven by increased spending on discretionary services. Government consumption detracted 0.2 percentage points, with reduced spending on health by state governments following the peak of the Omicron outbreak in March quarter.

Net trade contributed 1.0 percentage points, driven by a strong rise in exports (+5.5%), while imports recorded a partly offsetting rise (+0.7%).

Following an unprecedented inventory build-up of $7.8 billion in March, changes in inventories recorded a more moderate build-up of $1.6 billion this quarter, detracting 1.2 percentage points from GDP growth.

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)
Jun-14	0.4	-0.5	0.3	0.5	-0.4
Sep-14	0.5	0.4	-0.2	0.3	0.3
Dec-14	0.4	-0.1	0.3	-1.0	0.7
Mar-15	0.9	0.3	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	0.3
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	1.1	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	0.3	-0.1
Dec-17	0.5	0.6	0.2	0	-0.6
Mar-18	0.9	0.3	0.7	0	0.1
Jun-18	0.7	0.1	0.3	0.2	0.1
Sep-18	0.4	0.3	0.1	-0.3	0.6
Dec-18	0.2	0.3	-0.2	0.1	0.1
Mar-19	0.5	0.3	-0.1	0	0.1
Jun-19	0.5	0.6	-0.3	-0.6	0.6
Sep-19	0.8	0.2	0.4	0.2	0.3
Dec-19	0.5	0.3	0	0	0.1
Mar-20	-0.2	0.4	-0.9	0.1	0.3
Jun-20	-7.0	0.4	-7.5	-0.9	0.8
Sep-20	3.5	0.4	4.1	1.2	-1.9
Dec-20	3.4	0.4	3.1	0	0
Mar-21	1.9	0	1.7	0.7	-0.3
Jun-21	0.6	0.7	0.9	-0.2	-1.2
Sep-21	-1.8	0.6	-2.3	-1.0	0.8
Dec-21	3.9	0.1	3.3	1.0	-0.4
Mar-22	0.7	0.7	1.2	1.0	-2.3
Jun-22	0.9	0.1	0.9	-1.2	1.0

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

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

[["Jun-14","Sep-14","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"],[[0.40000000000000002],[0.5],[0.40000000000000002],[0.90000000000000002],[0.10000000000000001],[1],[0.59999999999999998],[0.90000000000000002],[0.59999999999999998],[0.10000000000000001],[1.1000000000000001],[0.29999999999999999],[0.59999999999999998],[1],[0.5],[0.90000000000000002],[0.69999999999999996],[0.40000000000000002],[0.20000000000000001],[0.5],[0.5],[0.80000000000000004],[0.5],[-0.20000000000000001],[-7],[3.5],[3.3999999999999999],[1.8999999999999999],[0.59999999999999998],[-1.8],[3.8999999999999999],[0.69999999999999996],[0.90000000000000002]],[[-0.5],[0.40000000000000002],[-0.10000000000000001],[0.29999999999999999],[0.40000000000000002],[0],[0.29999999999999999],[0.59999999999999998],[0.59999999999999998],[0.10000000000000001],[0.5],[0.29999999999999999],[0.69999999999999996],[-0.5],[0.59999999999999998],[0.29999999999999999],[0.10000000000000001],[0.29999999999999999],[0.29999999999999999],[0.29999999999999999],[0.59999999999999998],[0.20000000000000001],[0.29999999999999999],[0.40000000000000002],[0.40000000000000002],[0.40000000000000002],[0.40000000000000002],[0],[0.69999999999999996],[0.59999999999999998],[0.10000000000000001],[0.69999999999999996],[0.10000000000000001]],[[0.29999999999999999],[-0.20000000000000001],[0.29999999999999999],[0.10000000000000001],[-0.20000000000000001],[0.20000000000000001],[-0.10000000000000001],[0.20000000000000001],[-0.29999999999999999],[0.20000000000000001],[0.59999999999999998],[0.40000000000000002],[0],[1.5],[0.20000000000000001],[0.69999999999999996],[0.29999999999999999],[0.10000000000000001],[-0.20000000000000001],[-0.10000000000000001],[-0.29999999999999999],[0.40000000000000002],[0],[-0.90000000000000002],[-7.5],[4.0999999999999996],[3.1000000000000001],[1.7],[0.90000000000000002],[-2.2999999999999998],[3.2999999999999998],[1.2],[0.90000000000000002]],[[0.5],[0.29999999999999999],[-1],[0.59999999999999998],[-0.20000000000000001],[0],[0],[-0.10000000000000001],[0.29999999999999999],[0.10000000000000001],[-0.40000000000000002],[0.40000000000000002],[-0.59999999999999998],[0.29999999999999999],[0],[0],[0.20000000000000001],[-0.29999999999999999],[0.10000000000000001],[0],[-0.59999999999999998],[0.20000000000000001],[0],[0.10000000000000001],[-0.90000000000000002],[1.2],[0],[0.69999999999999996],[-0.20000000000000001],[-1],[1],[1],[-1.2]],[[-0.40000000000000002],[0.29999999999999999],[0.69999999999999996],[0.29999999999999999],[-0.80000000000000004],[1.1000000000000001],[0.29999999999999999],[0.90000000000000002],[-0.20000000000000001],[0],[0.20000000000000001],[-1.2],[0.5],[-0.10000000000000001],[-0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[0.59999999999999998],[0.29999999999999999],[0.10000000000000001],[0.29999999999999999],[0.80000000000000004],[-1.8999999999999999],[0],[-0.29999999999999999],[-1.2],[0.80000000000000004],[-0.40000000000000002],[-2.2999999999999998],[1]]]

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a. Contributions may not be additive due to rounding.

Export demand supports growth

Exports of goods and services contributed 1.1 percentage points to GDP growth. Strength this quarter was broad-based across rural and mining goods, as well as services exports. Exports of services rose 13.7%, reflecting education-related travel as international students returned to Australia. This was the strongest rise since the Sydney Olympics boosted travel exports in September quarter 2000.

Imports detracted from growth, as the easing of travel restrictions led to increased numbers of Australians travelling abroad.

Net trade contributions 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)
Jun-14	-0.4	-0.5	0.1
Sep-14	0.3	-0.2	0.5
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	0.3	0.1	0.2
Mar-16	0.9	0.5	0.4
Jun-16	-0.2	-0.4	0.2
Sep-16	0	-0.4	0.3
Dec-16	0.2	-0.5	0.7
Mar-17	-1.2	-0.7	-0.5
Jun-17	0.5	0	0.4
Sep-17	-0.1	-0.6	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	0.3	0.3
Dec-18	0.1	0.2	-0.1
Mar-19	0.1	-0.2	0.2
Jun-19	0.6	0.2	0.5
Sep-19	0.3	0.1	0.2
Dec-19	0.1	0.2	-0.2
Mar-20	0.3	1.4	-1.1
Jun-20	0.8	2.5	-1.7
Sep-20	-1.9	-1.1	-0.8
Dec-20	0	-0.9	1.0
Mar-21	-0.3	-0.6	0.3
Jun-21	-1.2	-0.3	-1.0
Sep-21	0.8	0.5	0.3
Dec-21	-0.4	-0.1	-0.2
Mar-22	-2.3	-2.1	-0.2
Jun-22	1.0	-0.1	1.1

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

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

[["Jun-14","Sep-14","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"],[[-0.40000000000000002],[0.29999999999999999],[0.69999999999999996],[0.29999999999999999],[-0.80000000000000004],[1.1000000000000001],[0.29999999999999999],[0.90000000000000002],[-0.20000000000000001],[0],[0.20000000000000001],[-1.2],[0.5],[-0.10000000000000001],[-0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[0.59999999999999998],[0.10000000000000001],[0.10000000000000001],[0.59999999999999998],[0.29999999999999999],[0.10000000000000001],[0.29999999999999999],[0.80000000000000004],[-1.8999999999999999],[0],[-0.29999999999999999],[-1.2],[0.80000000000000004],[-0.40000000000000002],[-2.2999999999999998],[1]],[[-0.5],[-0.20000000000000001],[0.29999999999999999],[-0.5],[-0.10000000000000001],[0.10000000000000001],[0.10000000000000001],[0.5],[-0.40000000000000002],[-0.40000000000000002],[-0.5],[-0.69999999999999996],[0],[-0.59999999999999998],[-0.10000000000000001],[-0.69999999999999996],[-0.10000000000000001],[0.29999999999999999],[0.20000000000000001],[-0.20000000000000001],[0.20000000000000001],[0.10000000000000001],[0.20000000000000001],[1.3999999999999999],[2.5],[-1.1000000000000001],[-0.90000000000000002],[-0.59999999999999998],[-0.29999999999999999],[0.5],[-0.10000000000000001],[-2.1000000000000001],[-0.10000000000000001]],[[0.10000000000000001],[0.5],[0.40000000000000002],[0.80000000000000004],[-0.80000000000000004],[1],[0.20000000000000001],[0.40000000000000002],[0.20000000000000001],[0.29999999999999999],[0.69999999999999996],[-0.5],[0.40000000000000002],[0.5],[-0.40000000000000002],[0.80000000000000004],[0.20000000000000001],[0.29999999999999999],[-0.10000000000000001],[0.20000000000000001],[0.5],[0.20000000000000001],[-0.20000000000000001],[-1.1000000000000001],[-1.7],[-0.80000000000000004],[1],[0.29999999999999999],[-1],[0.29999999999999999],[-0.20000000000000001],[-0.20000000000000001],[1.1000000000000001]]]

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a. Contributions may not be additive due to rounding.

Increased travel contributes to household spending

Household spending rose 2.2% this quarter.

Spending on services increased 3.6%, exceeding pre-pandemic levels for the first time. The easing of travel restrictions accelerated spending on transport and other related services. Hotels, cafes and restaurants (+8.8%), transport services (+37.3%) and recreation and culture (+3.6%) all contributed to the rise.

Spending on goods decreased 0.1%, as heightened demand during the onset of the pandemic began to stabilise.

Household final consumption expenditure, chain volume measures, seasonally adjusted
	Levels (RHS) ($b)	Quarterly growth (%)
Jun-14	243.0	0.4
Sep-14	245.2	0.9
Dec-14	246.7	0.6
Mar-15	247.7	0.4
Jun-15	249.2	0.6
Sep-15	251.3	0.9
Dec-15	252.5	0.5
Mar-16	254.5	0.8
Jun-16	255.6	0.4
Sep-16	257.3	0.7
Dec-16	259.2	0.7
Mar-17	260.2	0.4
Jun-17	261.8	0.6
Sep-17	263.5	0.7
Dec-17	266.0	0.9
Mar-18	267.4	0.5
Jun-18	269.5	0.8
Sep-18	269.8	0.1
Dec-18	270.4	0.2
Mar-19	270.6	0.1
Jun-19	271.7	0.4
Sep-19	271.8	0
Dec-19	272.5	0.3
Mar-20	268.5	-1.5
Jun-20	235.9	-12.1
Sep-20	253.8	7.6
Dec-20	265.5	4.6
Mar-21	268.6	1.2
Jun-21	271.4	1.0
Sep-21	258.5	-4.7
Dec-21	275.5	6.5
Mar-22	281.5	2.2
Jun-22	287.6	2.2

Household final consumption expenditure, chain volume measures, seasonally adjusted

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

[["Jun-14","Sep-14","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"],[[243],[245.19999999999999],[246.69999999999999],[247.69999999999999],[249.19999999999999],[251.30000000000001],[252.5],[254.5],[255.59999999999999],[257.30000000000001],[259.19999999999999],[260.19999999999999],[261.80000000000001],[263.5],[266],[267.39999999999998],[269.5],[269.80000000000001],[270.39999999999998],[270.60000000000002],[271.69999999999999],[271.80000000000001],[272.5],[268.5],[235.90000000000001],[253.80000000000001],[265.5],[268.60000000000002],[271.39999999999998],[258.5],[275.5],[281.5],[287.60000000000002]],[[0.40000000000000002],[0.90000000000000002],[0.59999999999999998],[0.40000000000000002],[0.59999999999999998],[0.90000000000000002],[0.5],[0.80000000000000004],[0.40000000000000002],[0.69999999999999996],[0.69999999999999996],[0.40000000000000002],[0.59999999999999998],[0.69999999999999996],[0.90000000000000002],[0.5],[0.80000000000000004],[0.10000000000000001],[0.20000000000000001],[0.10000000000000001],[0.40000000000000002],[0],[0.29999999999999999],[-1.5],[-12.1],[7.5999999999999996],[4.5999999999999996],[1.2],[1],[-4.7000000000000002],[6.5],[2.2000000000000002],[2.2000000000000002]]]

[]

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Goods and services consumption - comparison against December quarter 2019 pre-pandemic levels, chain volume measures, seasonally adjusted
	Goods consumption (index)	Services consumption (index)
Dec-19	100.0	100.0
Mar-20	101.1	97.0
Jun-20	97.7	80.1
Sep-20	102.8	87.5
Dec-20	105.9	92.5
Mar-21	105.1	94.7
Jun-21	105.8	96.0
Sep-21	102.4	90.5
Dec-21	109.0	96.5
Mar-22	110.0	99.4
Jun-22	109.9	103.0

Goods and services consumption - comparison against December quarter 2019 pre-pandemic levels, chain volume measures, seasonally adjusted

["","Goods consumption","Services consumption"]

[["Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22"],[[100],[101.09999999999999],[97.700000000000003],[102.8],[105.90000000000001],[105.09999999999999],[105.8],[102.40000000000001],[109],[110],[109.90000000000001]],[[100],[97],[80.099999999999994],[87.5],[92.5],[94.700000000000003],[96],[90.5],[96.5],[99.400000000000006],[103]]]

[]

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Price pressures continue to build across the economy

Nominal GDP rose 4.3%. The GDP implicit price deflator (IPD) increased 3.3% and was 6.9% higher year-on-year. The annual price growth was the fastest since 1988-89 and was broad-based across the domestic economy and international trade.

The terms of trade rose 4.6% for the quarter, with export (+8.8%) and import prices (+3.9%) both up strongly. Continued strength in export prices reflected ongoing demand for Australia's mining and agricultural commodities amidst supply constraints in other producing nations.

The domestic final demand IPD rose 1.6%. This was the strongest growth since the introduction of the Goods and Services Tax, reflecting sustained levels of demand and high input costs.

Quarterly growth in prices, seasonally adjusted
	Terms of trade (RHS) (%)	GDP IPD (LHS) (%)	DFD IPD (LHS) (%)
Jun-14	-3.3	-0.4	0.4
Sep-14	-3.6	-0.5	0.3
Dec-14	-2.2	0.2	0.5
Mar-15	-3.2	-0.3	0.5
Jun-15	-2.9	-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	10.8	2.2	0.2
Mar-17	4.1	1.5	0.4
Jun-17	-4.5	-0.7	0.5
Sep-17	0.1	0.3	0.1
Dec-17	-0.1	0.2	0.5
Mar-18	1.7	1.0	0.5
Jun-18	-0.1	0.5	0.5
Sep-18	1.5	1.1	0.5
Dec-18	2.7	0.9	0.5
Mar-19	1.4	0.9	0.3
Jun-19	2.1	0.9	0.6
Sep-19	1.3	0.8	0.3
Dec-19	-4.4	-0.6	0.4
Mar-20	0.3	0.5	0.4
Jun-20	-0.5	-0.9	-0.2
Sep-20	1.5	1.1	0
Dec-20	5.6	1.0	0.3
Mar-21	7.8	2.0	0.4
Jun-21	6.9	2.1	0.8
Sep-21	0.6	1.6	0.8
Dec-21	-5.1	-0.2	1.0
Mar-22	7.5	3.3	1.4
Jun-22	4.6	3.3	1.6

Quarterly growth in prices, seasonally adjusted

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

[["Jun-14","Sep-14","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"],[[-3.2999999999999998],[-3.6000000000000001],[-2.2000000000000002],[-3.2000000000000002],[-2.8999999999999999],[-2.5],[-4.4000000000000004],[-2],[3.5],[4.2000000000000002],[10.800000000000001],[4.0999999999999996],[-4.5],[0.10000000000000001],[-0.10000000000000001],[1.7],[-0.10000000000000001],[1.5],[2.7000000000000002],[1.3999999999999999],[2.1000000000000001],[1.3],[-4.4000000000000004],[0.29999999999999999],[-0.5],[1.5],[5.5999999999999996],[7.7999999999999998],[6.9000000000000004],[0.59999999999999998],[-5.0999999999999996],[7.5],[4.5999999999999996]],[[-0.40000000000000002],[-0.5],[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],[0.5],[1.1000000000000001],[0.90000000000000002],[0.90000000000000002],[0.90000000000000002],[0.80000000000000004],[-0.59999999999999998],[0.5],[-0.90000000000000002],[1.1000000000000001],[1],[2],[2.1000000000000001],[1.6000000000000001],[-0.20000000000000001],[3.2999999999999998],[3.2999999999999998]],[[0.40000000000000002],[0.29999999999999999],[0.5],[0.5],[0.40000000000000002],[0.5],[0.29999999999999999],[0],[0.10000000000000001],[0.20000000000000001],[0.20000000000000001],[0.40000000000000002],[0.5],[0.10000000000000001],[0.5],[0.5],[0.5],[0.5],[0.5],[0.29999999999999999],[0.59999999999999998],[0.29999999999999999],[0.40000000000000002],[0.40000000000000002],[-0.20000000000000001],[0],[0.29999999999999999],[0.40000000000000002],[0.80000000000000004],[0.80000000000000004],[1],[1.3999999999999999],[1.6000000000000001]]]

[]

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Commodity prices drive Mining profits

Gross operating surplus plus gross mixed income (GOSMI) rose 7.3%. Mining operating surplus rose 16.9%, reflecting continued strength in commodity prices, particularly coal and liquified natural gas. Exports of mining commodities rose 17.7% in current price terms.

Non-Mining operating surplus increased 3.8%. Agriculture and Manufacturing benefitted from higher prices received for output. Other industries, including Transport, Postal and Warehousing and Accommodation and Food Services, were supported by increased activity.

Mining and non-Mining contributions to quarterly growth in GOSMI, current prices, seasonally adjusted
	Total GOS + GMI (ppt)	Mining (ppt)	Non-Mining (ppt)
Jun-14	-0.4	-1.4	1.0
Sep-14	-1.1	-1.8	0.7
Dec-14	1.1	-0.8	1.9
Mar-15	0.1	-0.5	0.6
Jun-15	-0.4	-0.9	0.4
Sep-15	0.5	0.1	0.4
Dec-15	-1.0	-0.3	-0.7
Mar-16	-1.3	-0.7	-0.5
Jun-16	2.7	0.8	1.9
Sep-16	2.4	1.5	0.8
Dec-16	8.3	4.6	3.7
Mar-17	3.0	1.8	1.2
Jun-17	-1.8	-1.3	-0.4
Sep-17	0.4	-0.2	0.6
Dec-17	0.3	0.5	-0.1
Mar-18	2.7	1.2	1.5
Jun-18	0.9	0.9	0.1
Sep-18	1.8	1.8	0
Dec-18	1.9	1.8	0.1
Mar-19	2.0	0	2.0
Jun-19	0.5	1.5	-0.9
Sep-19	1.8	0.1	1.7
Dec-19	-0.5	-0.4	0
Mar-20	0	-0.1	0.1
Jun-20	11.4	-0.6	12.0
Sep-20	4.1	-0.3	4.4
Dec-20	-5.9	1.2	-7.1
Mar-21	0	2.8	-2.8
Jun-21	2.6	2.1	0.5
Sep-21	4.2	2.8	1.4
Dec-21	1.5	-0.8	2.3
Mar-22	4.4	4.4	0
Jun-22	7.3	4.5	2.8

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

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

[["Jun-14","Sep-14","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"],[[-0.40000000000000002],[-1.1000000000000001],[1.1000000000000001],[0.10000000000000001],[-0.40000000000000002],[0.5],[-1],[-1.3],[2.7000000000000002],[2.3999999999999999],[8.3000000000000007],[3],[-1.8],[0.40000000000000002],[0.29999999999999999],[2.7000000000000002],[0.90000000000000002],[1.8],[1.8999999999999999],[2],[0.5],[1.8],[-0.5],[0],[11.4],[4.0999999999999996],[-5.9000000000000004],[0],[2.6000000000000001],[4.2000000000000002],[1.5],[4.4000000000000004],[7.2999999999999998]],[[-1.3999999999999999],[-1.8],[-0.80000000000000004],[-0.5],[-0.90000000000000002],[0.10000000000000001],[-0.29999999999999999],[-0.69999999999999996],[0.80000000000000004],[1.5],[4.5999999999999996],[1.8],[-1.3],[-0.20000000000000001],[0.5],[1.2],[0.90000000000000002],[1.8],[1.8],[0],[1.5],[0.10000000000000001],[-0.40000000000000002],[-0.10000000000000001],[-0.59999999999999998],[-0.29999999999999999],[1.2],[2.7999999999999998],[2.1000000000000001],[2.7999999999999998],[-0.80000000000000004],[4.4000000000000004],[4.5]],[[1],[0.69999999999999996],[1.8999999999999999],[0.59999999999999998],[0.40000000000000002],[0.40000000000000002],[-0.69999999999999996],[-0.5],[1.8999999999999999],[0.80000000000000004],[3.7000000000000002],[1.2],[-0.40000000000000002],[0.59999999999999998],[-0.10000000000000001],[1.5],[0.10000000000000001],[0],[0.10000000000000001],[2],[-0.90000000000000002],[1.7],[0],[0.10000000000000001],[12],[4.4000000000000004],[-7.0999999999999996],[-2.7999999999999998],[0.5],[1.3999999999999999],[2.2999999999999998],[0],[2.7999999999999998]]]

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a. Contributions may not be additive due to rounding.

Continued growth in COE as labour market tightens

COE rose 2.4% this quarter, the strongest rise since June quarter 2010. Hours worked rose 2.9%, rebounding from flood and Omicron-related absenteeism in the March quarter. Strength in COE is consistent with growth in employment in Labour Force, Australia. The number of employed persons rose 0.9% over the quarter, driven by growth in full-time employment (2.3%).

Private sector COE rose 3.1% and was the predominant contributor to growth. Wage pressures continue to build from skilled labour shortages, resulting in businesses paying more to attract and retain staff.

Quarterly growth in compensation of employees by sector, current prices, seasonally adjusted
	Total COE (%)	Private COE (%)	Public COE (%)
Jun-17	1.3	1.4	0.9
Sep-17	1.3	1.5	0.7
Dec-17	1.5	1.3	2.1
Mar-18	1.3	1.2	1.5
Jun-18	0.9	1.1	0.5
Sep-18	1.4	1.4	1.5
Dec-18	1.0	1.0	1.2
Mar-19	1.7	1.6	1.8
Jun-19	1.4	1.2	2.1
Sep-19	1.2	1.3	0.8
Dec-19	0.9	0.9	0.9
Mar-20	0.7	0.5	1.5
Jun-20	-2.0	-3.1	1.9
Sep-20	2.2	2.4	1.5
Dec-20	1.2	1.1	1.6
Mar-21	1.6	2.4	-0.9
Jun-21	1.1	1.4	0.2
Sep-21	0.6	-0.3	3.4
Dec-21	1.8	2.0	1.4
Mar-22	1.9	2.4	0.5
Jun-22	2.4	3.1	0.4

Quarterly growth in compensation of employees by sector, current prices, seasonally adjusted

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

[["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"],[[1.3],[1.3],[1.5],[1.3],[0.90000000000000002],[1.3999999999999999],[1],[1.7],[1.3999999999999999],[1.2],[0.90000000000000002],[0.69999999999999996],[-2],[2.2000000000000002],[1.2],[1.6000000000000001],[1.1000000000000001],[0.59999999999999998],[1.8],[1.8999999999999999],[2.3999999999999999]],[[1.3999999999999999],[1.5],[1.3],[1.2],[1.1000000000000001],[1.3999999999999999],[1],[1.6000000000000001],[1.2],[1.3],[0.90000000000000002],[0.5],[-3.1000000000000001],[2.3999999999999999],[1.1000000000000001],[2.3999999999999999],[1.3999999999999999],[-0.29999999999999999],[2],[2.3999999999999999],[3.1000000000000001]],[[0.90000000000000002],[0.69999999999999996],[2.1000000000000001],[1.5],[0.5],[1.5],[1.2],[1.8],[2.1000000000000001],[0.80000000000000004],[0.90000000000000002],[1.5],[1.8999999999999999],[1.5],[1.6000000000000001],[-0.90000000000000002],[0.20000000000000001],[3.3999999999999999],[1.3999999999999999],[0.5],[0.40000000000000002]]]

[]

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Mining performance drives changes in factor income shares

The recent rises in commodity prices and subsequent increases in Mining profits have impacted on the shares of factor income. The profits share of total factor income increased to a record 32.9% this quarter, while the COE share declined to a new low of 48.5%.

Excluding the Mining industry, these shares are more in line with their pre-pandemic levels.

Compensation of employees and profits shares of factor income, seasonally adjusted
	COE share of factor income - total (%)	COE share of factor income - excluding Mining (%)	Profits share of factor income - total (%)	Profits share of factor income - excluding Mining (%)
Jun-10	51.5	55.4	29.2	23.1
Sep-10	51.9	56.0	28.7	22.4
Dec-10	51.8	56.0	28.9	22.5
Mar-11	52.7	56.3	27.7	22.1
Jun-11	52.0	56.1	28.8	22.4
Sep-11	51.6	55.6	29.4	23.2
Dec-11	51.9	55.6	28.9	23.0
Mar-12	53.2	56.2	28.0	23.1
Jun-12	53.2	56.1	27.9	23.0
Sep-12	53.0	55.6	27.8	23.5
Dec-12	53.3	55.6	27.4	23.4
Mar-13	53.2	55.7	27.4	23.2
Jun-13	53.0	55.8	27.8	23.1
Sep-13	53.1	56.1	27.5	22.6
Dec-13	52.8	55.9	27.7	22.6
Mar-14	53.0	56.2	27.5	22.3
Jun-14	53.3	56.1	26.7	22.0
Sep-14	53.8	56.1	25.8	21.8
Dec-14	53.6	55.7	25.6	21.8
Mar-15	53.7	55.6	25.2	21.7
Jun-15	54.0	55.8	24.8	21.6
Sep-15	54.2	55.9	24.6	21.3
Dec-15	54.6	56.3	24.6	21.4
Mar-16	55.2	56.7	24.2	21.3
Jun-16	54.6	56.3	24.1	20.9
Sep-16	54.3	56.4	24.7	21.0
Dec-16	52.2	55.3	26.6	21.5
Mar-17	51.7	55.3	27.2	21.5
Jun-17	52.5	55.7	26.7	21.5
Sep-17	52.7	55.9	26.8	21.7
Dec-17	53.0	56.3	26.5	21.2
Mar-18	52.7	56.2	26.9	21.4
Jun-18	52.7	56.4	26.7	20.9
Sep-18	52.6	56.7	27.2	20.8
Dec-18	52.4	56.9	27.7	20.7
Mar-19	52.3	56.7	28.2	21.3
Jun-19	52.5	57.4	28.1	20.7
Sep-19	52.3	57.1	28.4	21.2
Dec-19	52.7	57.3	28.0	20.9
Mar-20	52.8	57.5	27.8	20.7
Jun-20	49.7	53.5	30.3	24.1
Sep-20	49.2	52.8	30.6	24.7
Dec-20	51.0	55.3	29.3	22.6
Mar-21	51.4	56.6	29.0	21.1
Jun-21	51.0	56.6	29.6	21.2
Sep-21	50.1	56.3	30.1	20.7
Dec-21	50.2	56.0	30.0	21.1
Mar-22	49.6	56.5	31.4	21.1
Jun-22	48.5	56.2	32.9	21.4

Compensation of employees and profits shares of factor income, seasonally adjusted

["","COE share of factor income - total","COE share of factor income - excluding Mining","Profits share of factor income - total","Profits share of factor income - excluding Mining"]

[["Jun-10","Sep-10","Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","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"],[[51.5],[51.899999999999999],[51.799999999999997],[52.700000000000003],[52],[51.600000000000001],[51.899999999999999],[53.200000000000003],[53.200000000000003],[53],[53.299999999999997],[53.200000000000003],[53],[53.100000000000001],[52.799999999999997],[53],[53.299999999999997],[53.799999999999997],[53.600000000000001],[53.700000000000003],[54],[54.200000000000003],[54.600000000000001],[55.200000000000003],[54.600000000000001],[54.299999999999997],[52.200000000000003],[51.700000000000003],[52.5],[52.700000000000003],[53],[52.700000000000003],[52.700000000000003],[52.600000000000001],[52.399999999999999],[52.299999999999997],[52.5],[52.299999999999997],[52.700000000000003],[52.799999999999997],[49.700000000000003],[49.200000000000003],[51],[51.399999999999999],[51],[50.100000000000001],[50.200000000000003],[49.600000000000001],[48.5]],[[55.399999999999999],[56],[56],[56.299999999999997],[56.100000000000001],[55.600000000000001],[55.600000000000001],[56.200000000000003],[56.100000000000001],[55.600000000000001],[55.600000000000001],[55.700000000000003],[55.799999999999997],[56.100000000000001],[55.899999999999999],[56.200000000000003],[56.100000000000001],[56.100000000000001],[55.700000000000003],[55.600000000000001],[55.799999999999997],[55.899999999999999],[56.299999999999997],[56.700000000000003],[56.299999999999997],[56.399999999999999],[55.299999999999997],[55.299999999999997],[55.700000000000003],[55.899999999999999],[56.299999999999997],[56.200000000000003],[56.399999999999999],[56.700000000000003],[56.899999999999999],[56.700000000000003],[57.399999999999999],[57.100000000000001],[57.299999999999997],[57.5],[53.5],[52.799999999999997],[55.299999999999997],[56.600000000000001],[56.600000000000001],[56.299999999999997],[56],[56.5],[56.200000000000003]],[[29.199999999999999],[28.699999999999999],[28.899999999999999],[27.699999999999999],[28.800000000000001],[29.399999999999999],[28.899999999999999],[28],[27.899999999999999],[27.800000000000001],[27.399999999999999],[27.399999999999999],[27.800000000000001],[27.5],[27.699999999999999],[27.5],[26.699999999999999],[25.800000000000001],[25.600000000000001],[25.199999999999999],[24.800000000000001],[24.600000000000001],[24.600000000000001],[24.199999999999999],[24.100000000000001],[24.699999999999999],[26.600000000000001],[27.199999999999999],[26.699999999999999],[26.800000000000001],[26.5],[26.899999999999999],[26.699999999999999],[27.199999999999999],[27.699999999999999],[28.199999999999999],[28.100000000000001],[28.399999999999999],[28],[27.800000000000001],[30.300000000000001],[30.600000000000001],[29.300000000000001],[29],[29.600000000000001],[30.100000000000001],[30],[31.399999999999999],[32.899999999999999]],[[23.100000000000001],[22.399999999999999],[22.5],[22.100000000000001],[22.399999999999999],[23.199999999999999],[23],[23.100000000000001],[23],[23.5],[23.399999999999999],[23.199999999999999],[23.100000000000001],[22.600000000000001],[22.600000000000001],[22.300000000000001],[22],[21.800000000000001],[21.800000000000001],[21.699999999999999],[21.600000000000001],[21.300000000000001],[21.399999999999999],[21.300000000000001],[20.899999999999999],[21],[21.5],[21.5],[21.5],[21.699999999999999],[21.199999999999999],[21.399999999999999],[20.899999999999999],[20.800000000000001],[20.699999999999999],[21.300000000000001],[20.699999999999999],[21.199999999999999],[20.899999999999999],[20.699999999999999],[24.100000000000001],[24.699999999999999],[22.600000000000001],[21.100000000000001],[21.199999999999999],[20.699999999999999],[21.100000000000001],[21.100000000000001],[21.399999999999999]]]

[]

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Household saving ratio continues to decline as consumption opportunities increase

The household saving ratio declined from 11.1% to 8.7%, remaining slightly above pre-pandemic levels.

Household saving fell as the rise in household spending outpaced growth in gross disposable income. Household gross disposable income rose 1.0%, driven by gross income. Labour income (COE) increased in line with strong labour market conditions. This was partly offset by non-life insurance claims, which fell back to more normal levels following major flood events in New South Wales and Queensland in March quarter.

Income payable detracted from growth in gross disposable income, driven by income tax and interest paid. This is consistent with strong labour market outcomes and increases in interest rates during the quarter.

Household saving ratio, seasonally adjusted
	Household saving ratio (%)
Jun-14	8.0
Sep-14	7.6
Dec-14	7.8
Mar-15	7.2
Jun-15	7.6
Sep-15	6.8
Dec-15	5.4
Mar-16	5.4
Jun-16	5.9
Sep-16	5.6
Dec-16	5.2
Mar-17	5.4
Jun-17	4.8
Sep-17	4.5
Dec-17	4.9
Mar-18	4.7
Jun-18	4.5
Sep-18	4.7
Dec-18	5.4
Mar-19	6.0
Jun-19	5.3
Sep-19	7.8
Dec-19	7.0
Mar-20	9.7
Jun-20	23.7
Sep-20	20.3
Dec-20	14.1
Mar-21	13.8
Jun-21	11.7
Sep-21	19.8
Dec-21	13.5
Mar-22	11.1
Jun-22	8.7

Household saving ratio, seasonally adjusted

["","Household saving ratio"]

[["Jun-14","Sep-14","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"],[[8],[7.5999999999999996],[7.7999999999999998],[7.2000000000000002],[7.5999999999999996],[6.7999999999999998],[5.4000000000000004],[5.4000000000000004],[5.9000000000000004],[5.5999999999999996],[5.2000000000000002],[5.4000000000000004],[4.7999999999999998],[4.5],[4.9000000000000004],[4.7000000000000002],[4.5],[4.7000000000000002],[5.4000000000000004],[6],[5.2999999999999998],[7.7999999999999998],[7],[9.6999999999999993],[23.699999999999999],[20.300000000000001],[14.1],[13.800000000000001],[11.699999999999999],[19.800000000000001],[13.5],[11.1],[8.6999999999999993]]]

[]

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Contributions to quarterly growth in household disposable income, current prices, seasonally adjusted
	Gross disposable income (ppt)	Labour income (COE) (ppt)	Non-labour income (ppt)	Income payable (ppt)
Jun-14	1.6	0.6	1.2	-0.2
Sep-14	0.8	0.5	1.0	-0.7
Dec-14	1.2	0.3	1.1	-0.3
Mar-15	0.3	0.3	0.4	-0.4
Jun-15	1.5	0.7	0.8	0
Sep-15	0.3	0.7	-0.1	-0.2
Dec-15	-0.5	0.6	-0.6	-0.5
Mar-16	0.7	0.7	0.3	-0.3
Jun-16	1.2	0.2	1.2	-0.1
Sep-16	0.7	0.7	-0.1	0.1
Dec-16	0.5	-0.2	0.9	-0.1
Mar-17	1.0	0.7	1.2	-0.9
Jun-17	0.5	1.0	-0.7	0.1
Sep-17	0.6	0.9	0.4	-0.8
Dec-17	1.9	1.1	0.7	0
Mar-18	0.8	0.9	0.5	-0.5
Jun-18	0.8	0.7	0.6	-0.5
Sep-18	0.7	1.0	0.2	-0.5
Dec-18	1.3	0.7	0.8	-0.3
Mar-19	1.1	1.1	0.1	-0.2
Jun-19	0.3	1.1	-0.3	-0.5
Sep-19	2.9	0.9	0.3	1.7
Dec-19	-0.2	0.6	0.5	-1.2
Mar-20	1.9	0.7	1.4	-0.2
Jun-20	3.2	-1.2	3.0	1.4
Sep-20	3.1	1.5	2.4	-0.8
Dec-20	-2.3	0.8	-3.3	0.2
Mar-21	1.3	1.2	-0.1	0.2
Jun-21	-0.6	0.8	-0.8	-0.5
Sep-21	4.8	0.5	4.7	-0.4
Dec-21	-0.5	1.3	-0.8	-1.0
Mar-22	1.0	1.3	0.9	-1.3
Jun-22	1.0	1.7	0	-0.7

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

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

[["Jun-14","Sep-14","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"],[[1.6000000000000001],[0.80000000000000004],[1.2],[0.29999999999999999],[1.5],[0.29999999999999999],[-0.5],[0.69999999999999996],[1.2],[0.69999999999999996],[0.5],[1],[0.5],[0.59999999999999998],[1.8999999999999999],[0.80000000000000004],[0.80000000000000004],[0.69999999999999996],[1.3],[1.1000000000000001],[0.29999999999999999],[2.8999999999999999],[-0.20000000000000001],[1.8999999999999999],[3.2000000000000002],[3.1000000000000001],[-2.2999999999999998],[1.3],[-0.59999999999999998],[4.7999999999999998],[-0.5],[1],[1]],[[0.59999999999999998],[0.5],[0.29999999999999999],[0.29999999999999999],[0.69999999999999996],[0.69999999999999996],[0.59999999999999998],[0.69999999999999996],[0.20000000000000001],[0.69999999999999996],[-0.20000000000000001],[0.69999999999999996],[1],[0.90000000000000002],[1.1000000000000001],[0.90000000000000002],[0.69999999999999996],[1],[0.69999999999999996],[1.1000000000000001],[1.1000000000000001],[0.90000000000000002],[0.59999999999999998],[0.69999999999999996],[-1.2],[1.5],[0.80000000000000004],[1.2],[0.80000000000000004],[0.5],[1.3],[1.3],[1.7]],[[1.2],[1],[1.1000000000000001],[0.40000000000000002],[0.80000000000000004],[-0.10000000000000001],[-0.59999999999999998],[0.29999999999999999],[1.2],[-0.10000000000000001],[0.90000000000000002],[1.2],[-0.69999999999999996],[0.40000000000000002],[0.69999999999999996],[0.5],[0.59999999999999998],[0.20000000000000001],[0.80000000000000004],[0.10000000000000001],[-0.29999999999999999],[0.29999999999999999],[0.5],[1.3999999999999999],[3],[2.3999999999999999],[-3.2999999999999998],[-0.10000000000000001],[-0.80000000000000004],[4.7000000000000002],[-0.80000000000000004],[0.90000000000000002],[0]],[[-0.20000000000000001],[-0.69999999999999996],[-0.29999999999999999],[-0.40000000000000002],[0],[-0.20000000000000001],[-0.5],[-0.29999999999999999],[-0.10000000000000001],[0.10000000000000001],[-0.10000000000000001],[-0.90000000000000002],[0.10000000000000001],[-0.80000000000000004],[0],[-0.5],[-0.5],[-0.5],[-0.29999999999999999],[-0.20000000000000001],[-0.5],[1.7],[-1.2],[-0.20000000000000001],[1.3999999999999999],[-0.80000000000000004],[0.20000000000000001],[0.20000000000000001],[-0.5],[-0.40000000000000002],[-1],[-1.3],[-0.69999999999999996]]]

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a. Contributions may not be additive due to rounding.

Services industries drive strength in gross value added

Gross value added rose 1.2%. Hospitality, transport and other related services industries increased strongly with the removal of restrictions and increased travel. Accommodation and Food Services (+10.7%), Transport, Postal and Warehousing (+7.5%) and Arts and Recreation Services (+3.5%) all rose. Electricity, Gas, Water and Waste Services (+4.1%) rose with cooler than usual temperatures over the quarter increasing energy consumption.

Gross value added by industry, chain volume measures, seasonally adjusted
	Quarterly growth (%)
Agriculture, Forestry and Fishing	1.6
Mining	0.2
Manufacturing	-1.1
Electricity, Gas, Water and Waste Services	4.1
Construction	-0.4
Wholesale Trade	-2.2
Retail Trade	0.4
Accommodation and Food Services	10.7
Transport, Postal and Warehousing	7.5
Information Media and Telecommunications	1.6
Financial and Insurance Services	0.9
Rental, Hiring and Real Estate Services	1.0
Professional, Scientific and Technical Services	1.3
Administrative and Support Services	2.8
Public Administration and Safety	-0.5
Education and Training	0.4
Health Care and Social Assistance	2.5
Arts and Recreation Services	3.5
Other Services	1.9

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"],[[1.6000000000000001],[0.20000000000000001],[-1.1000000000000001],[4.0999999999999996],[-0.40000000000000002],[-2.2000000000000002],[0.40000000000000002],[10.699999999999999],[7.5],[1.6000000000000001],[0.90000000000000002],[1],[1.3],[2.7999999999999998],[-0.5],[0.40000000000000002],[2.5],[3.5],[1.8999999999999999]]]

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Expenditure

			% Change	% Change	% points contribution to growth in GDP
			% Change	% Change	% points contribution to growth in GDP
			Mar 22 to Jun 22	Jun 21 to Jun 22	Mar 22 to Jun 22
Final consumption expenditure
	General government		-0.8	6.3	-0.2
	Households		2.2	6.0	1.1
	Total final consumption expenditure		1.3	6.1	1.0
Gross fixed capital formation
	Private
		Dwellings	-2.9	-4.6	-0.1
		Ownership transfer costs	-2.4	-3.7	-
		Non-dwelling construction	-5.0	-2.0	-0.2
		Machinery and equipment	4.0	5.4	0.2
		Cultivated biological resources	0.7	-6.9	-
		Intellectual property products	-0.5	4.0	-
	Public		5.9	3.5	0.3
	Total gross fixed capital formation		0.2	0.3	-
Changes in inventories			na	na	-1.2
Gross national expenditure			-0.2	4.4	-0.2
Exports of goods and services			5.5	4.9	1.1
Imports of goods and services			0.7	10.0	-0.1
Statistical discrepancy (E)			na	na	0.1
Gross domestic product			0.9	3.6	0.9

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

Final consumption expenditure (FCE) 1.3%

Gross fixed capital formation (GFCF) 0.2%

Changes in inventories

Exports and imports of goods and services

Income

Income estimates are in seasonally adjusted current prices

		% Change	% Change	% points contribution to growth in GDP
		% Change	% Change	% points contribution to growth in GDP
		Mar 22 to Jun 22	Jun 21 to Jun 22	Mar 22 to Jun 22
Compensation of employees		2.4	7.0	1.1
Gross operating surplus
	Private non-financial corporations	11.2	29.3	2.6
	Other (a)	2.5	5.6	0.4
Gross mixed income		4.7	13.5	0.4
Taxes less subsidies on production and imports		-3.0	7.8	-0.3
Statistical discrepancy (I)		na	na	0.1
Gross domestic product		4.3	12.1	4.3

- 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) 2.4%

State compensation of employees, current prices, seasonally adjusted
	Quarterly growth (%)	Through the year (%)
NSW	3.0	6.0
Vic.	3.3	6.0
Qld	1.6	8.5
SA	3.9	8.9
WA	1.4	9.8
Tas.	0.8	5.3
NT	0.2	4.3
ACT	0.6	2.5
Aust.	2.4	7.0

Gross operating surplus (GOS) 7.9%

Taxes less subsidies on production and imports -3.0%

Production

	% Change	% Change	% points contribution to growth in GDP
	% Change	% Change	% points contribution to growth in GDP
	Mar 22 to Jun 22	Jun 21 to Jun 22	Mar 22 to Jun 22
Agriculture, Forestry and Fishing	1.6	11.0	-
Mining	0.2	-0.7	-
Manufacturing	-1.1	0.6	-0.1
Electricity, Gas, Water and Waste Services	4.1	5.3	0.1
Construction	-0.4	2.2	-
Wholesale Trade	-2.2	-0.5	-0.1
Retail Trade	0.4	4.4	-
Accommodation and Food Services	10.7	7.0	0.2
Transport, Postal and Warehousing	7.5	13.1	0.3
Information Media and Telecommunications	1.6	8.7	-
Financial and Insurance Services	0.9	2.6	0.1
Rental, Hiring and Real Estate Services	1.0	1.3	-
Professional, Scientific and Technical Services	1.3	10.5	0.1
Administrative and Support Services	2.8	8.3	0.1
Public Administration and Safety	-0.5	2.2	-
Education and Training	0.4	1.7	-
Health Care and Social Assistance	2.5	5.4	0.2
Arts and Recreation Services	3.5	11.1	-
Other Services	1.9	3.1	-
Ownership of dwellings	0.4	1.8	-
Taxes less subsidies on products	-0.1	0.9	-
Statistical discrepancy (P)	na	na	-0.2
Gross domestic product	0.9	3.6	0.9

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

Agriculture, Forestry and Fishing 1.6%

Mining 0.2%

Manufacturing -1.1%

Electricity, Gas, Water and Waste Services 4.1%

Construction -0.4%

Wholesale Trade -2.2%

Retail Trade 0.4%

Accommodation and Food Services 10.7%

Transport, Postal and Warehousing 7.5%

Information Media and Telecommunications 1.6%

Financial and Insurance Services 0.9%

Rental, Hiring and Real Estate Services 1.0%

Professional, Scientific and Technical Services 1.3%

Administrative and Support Services 2.8%

Health Care and Social Assistance 2.5%

Arts and Recreation Services 3.5%

Other Services 1.9%

State and territory final demand

		Percentage change from Mar 22 to Jun 22
		NSW	Vic.	Qld	SA	WA	Tas.	NT	ACT	Aust.(a)
Final consumption expenditure
	General government	-1.0	-1.5	-0.1	2.5	-0.6	-1.4	-6.2	-0.6	-0.8
	Households	2.5	2.3	2.2	1.5	1.4	1.4	1.4	1.4	2.2
Gross fixed capital formation
	Private	1.5	-2.7	-2.4	1.3	-1.4	-0.1	5.2	1.8	-1.5
	Public	8.7	9.6	4.1	-2.4	-3.3	2.9	4.3	3.6	5.9
State final demand		1.9	1.0	1.0	1.5	0.1	0.6	-0.5	0.6	1.0

- nil or rounded to zero (including null cells)
a. 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 1.9% for the quarter.
Victoria's state final demand increased 1.0% for the quarter.
Queensland's state final demand increased 1.0% for the quarter.
South Australia's state final demand increased 1.5% for the quarter.
Western Australia's state final demand increased 0.1% for the quarter.
Tasmania's state final demand increased 0.6% for the quarter.
Northern Territory's state final demand decreased 0.5% for the quarter.
Australian Capital Territory's state final demand increased 0.6% for the quarter.

New South Wales 1.9%

Victoria 1.0%

Queensland 1.0%

South Australia 1.5%

Western Australia 0.1%

Tasmania 0.6%

Northern Territory -0.5%

Australian Capital Territory 0.6%

Key tables

Key national accounts aggregates

		Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22
Percentage change (a)
Chain volume GDP and related measures (b)
	GDP	0.6	-1.8	3.9	0.7	0.9	3.6
	GDP per capita (c)	0.3	-1.9	3.6	0.5	0.5	2.7
	Gross value added market sector (d)	1.2	-1.4	3.8	0.8	1.3	4.4
	Net domestic product	0.6	-2.3	4.6	0.7	1.0	3.9
Real income measures (b)
	Real gross domestic income	2.0	-1.5	2.4	2.4	2.3	5.6
	Real gross national income	2.0	-3.2	2.0	1.6	2.3	2.8
	Real net national disposable income	2.1	-3.8	2.4	1.9	2.7	3.0
	Real net national disposable income per capita (c)	1.9	-3.9	2.1	1.6	2.3	2.1
Current price measures
	GDP	2.7	-0.3	3.6	4.1	4.3	12.1
Productivity
	Hours worked	2.0	-4.7	4.6	-0.4	2.9	2.1
	Hours worked market sector (d)	2.5	-6.1	5.9	-0.2	4.0	3.2
	GDP per hour worked	-1.4	3.0	-0.7	1.2	-1.9	1.5
	Gross value added per hour worked market sector (d)	-1.3	4.9	-2.0	1.0	-2.6	1.2
	Real unit labour costs	0.4	-0.1	-1.0	-2.2	-1.6	-4.8
	Real unit labour costs - non-farm	0.8	0.3	-0.5	-2.5	-1.2	-3.8
Prices
	GDP implicit price deflator	2.1	1.6	-0.2	3.3	3.3	8.3
	Domestic final demand implicit price deflator	0.8	0.8	1.0	1.4	1.6	4.9
	Terms of trade	6.9	0.6	-5.1	7.5	4.6	7.5
Levels
Chain volume GDP and related measures (b)
	GDP ($m)	514 593	505 177	524 644	528 374	533 092	. .
	GDP per capita (c) ($)	19 991	19 610	20 325	20 422	20 525	. .
	Gross value added market sector (d) ($m)	345 492	340 566	353 380	356 083	360 859	. .
	Net domestic product ($m)	424 595	414 693	433 681	436 923	441 147	. .
Real income measures (b)
	Real gross domestic income ($m)	537 782	529 535	542 032	554 963	567 660	. .
	Real gross national income ($m)	529 934	513 196	523 707	532 200	544 567	. .
	Real net national disposable income ($m)	438 669	422 071	431 995	440 041	451 849	. .
	Real net national disposable income per capita (c) ($)	17 041	16 384	16 736	17 007	17 397	. .
Current price measures
	GDP ($m)	543 152	541 703	561 451	584 299	609 133	. .
	GDP per capita (c) ($)	21 100	21 028	21 751	22 583	23 453	. .
	Gross national income ($m)	535 902	525 396	543 371	562 290	585 740	. .
	National net saving ($m)	54 841	51 856	47 805	52 138	63 417	. .
	Household saving ratio	11.7	19.8	13.5	11.1	8.7	. .
Prices
	Terms of trade (index) (e)	121.6	122.4	116.2	124.9	130.7	. .

. . not applicable
- 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 2019-20.
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. Reference year for indexes is 2019-20 = 100.0.

Revisions to percentage changes (a)

		Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22
Percentage change (a)
Chain volume GDP and related measures (b)
	GDP	-0.2	-	0.3	-0.1
	GDP per capita (c)	-0.3	-0.1	0.1	0.2
	Gross value added market sector (d)	-0.2	0.2	0.2	0.1
	Net domestic product	-0.3	-	0.3	-0.1
Real income measures (b)
	Real gross domestic income	-0.6	0.3	0.2	0.3
	Real gross national income	-0.3	0.2	-0.3	0.3
	Real net national disposable income	-0.4	0.2	-0.2	0.5
	Real net national disposable income per capita (c)	-0.4	0.1	-0.4	0.6
Current price measures
	GDP	-0.5	0.3	0.1	0.4
	Household saving ratio (e)	-0.1	0.1	0.1	-0.3
Productivity
	Hours worked	-	-	0.2	0.5
	Hours worked market sector (d)	-	-	0.1	0.4
	GDP per hour worked	-0.3	-0.1	0.1	-0.5
	Gross value added per hour worked market sector (d)	-0.3	0.1	-	-0.3
	Real unit labour costs	0.4	-0.2	-0.2	-0.2
	Real unit labour costs - non-farm	0.6	-0.1	-0.3	-0.1
Prices
	Terms of trade	-1.1	1.1	-0.2	1.6

- nil or rounded to zero
a. Change on preceding quarter.
b. Reference year for chain volume measures and real income measures is 2019-20.
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

	Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22	Contribution to growth, Mar 22 to Jun 22
Final consumption expenditure
	General government	1.6	3.4	1.0	2.6	-0.8	6.3	-0.2
	Households	1.0	-4.7	6.5	2.2	2.2	6.0	1.1
		Goods	0.7	-3.3	6.4	1.0	-0.1	3.8	-
		Services	1.3	-5.7	6.6	3.0	3.6	7.3	1.2
		Essential	0.7	-0.8	2.1	-	1.0	2.3	0.3
		Discretionary	1.7	-11.2	14.6	5.8	3.9	11.9	0.8
Gross fixed capital formation
	Private	1.9	1.0	-0.4	0.3	-1.5	-0.7	-0.3
		Mining	0.4	-1.3	2.4	-4.5	-6.0	-9.3	-0.2
		Non-mining	1.5	1.5	-	2.8	0.8	5.3	0.1
		Total private business investment	1.2	0.8	0.6	1.0	-0.8	1.7	-0.1
	Public	7.4	-2.1	-2.1	2.0	5.9	3.5	0.3
Final demand
	Public		2.7	2.3	0.4	2.5	0.5	5.7	0.1
	Private		1.3	-3.3	4.7	1.7	1.2	4.2	0.9

	Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22
Final consumption expenditure
	General government	0.1	-0.1	0.6	-0.1
	Households	-0.1	-	0.1	0.7
		Goods	-	-0.2	0.2	0.7
		Services	-	-	0.1	0.7
		Essential	-	0.1	0.2	0.2
		Discretionary	0.1	-0.2	0.2	1.5
Gross fixed capital formation
	Private	-0.3	0.3	0.3	-0.2
		Mining	0.9	-0.5	-0.4	-3.2
		Non-mining	-0.9	0.8	0.2	0.4
		Total private business investment	-0.4	0.5	0.1	-0.5
	Public	-0.5	0.2	-0.3	0.3
Final demand
	Public		-0.1	-	0.4	-
	Private		-0.1	-	0.2	0.5

Expenditure aggregates

	Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22
Final consumption expenditure
	General government	0.3	0.7	0.2	0.6	-0.2
	Households	0.5	-2.5	3.4	1.2	1.1
Gross fixed capital formation
	Private	0.3	0.2	-0.1	-	-0.3
	Public	0.4	-0.1	-0.1	0.1	0.3
Domestic final demand	1.6	-1.7	3.4	1.9	1.0
Changes in inventories	-0.2	-1.0	1.0	1.0	-1.2
Exports of goods and services	-1.0	0.3	-0.2	-0.2	1.1
Imports of goods and services	-0.3	0.5	-0.1	-2.1	-0.1
Statistical discrepancy (E)	0.4	0.1	-0.1	0.1	0.1
Gross domestic product	0.6	-1.8	3.9	0.7	0.9

Expenditure on GDP

Percentage changes

		Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22	Contribution to growth, Mar 22 to Jun 22
Final consumption expenditure
	General government	1.6	3.4	1.0	2.6	-0.8	6.3	-0.2
	Households	1.0	-4.7	6.5	2.2	2.2	6.0	1.1
	Total final consumption expenditure	1.2	-2.4	4.8	2.3	1.3	6.1	1.0
Private gross fixed capital formation
	Dwellings	0.9	0.8	-2.0	-0.5	-2.9	-4.6	-0.1
	Ownership transfer costs	9.9	2.5	-1.5	-2.3	-2.4	-3.7	-
	Non-dwelling construction	0.2	3.4	0.9	-1.1	-5.0	-2.0	-0.2
	Machinery and equipment	1.1	-1.2	-0.9	3.5	4.0	5.4	0.2
	Cultivated biological resources	8.4	-17.4	10.5	1.2	0.7	-6.9	-
	Intellectual property products	3.1	1.1	2.0	1.4	-0.5	4.0	-
	Total private gross fixed capital formation	1.9	1.0	-0.4	0.3	-1.5	-0.7	-0.3
Public gross fixed capital formation
	Public corporations	2.4	-1.5	1.9	1.0	5.3	6.8	0.1
	General government	8.7	-2.3	-3.2	2.3	6.1	2.7	0.3
	Total public gross fixed capital formation	7.4	-2.1	-2.1	2.0	5.9	3.5	0.3
Total gross fixed capital formation		3.2	0.3	-0.8	0.7	0.2	0.3	-
Domestic final demand		1.7	-1.7	3.5	1.9	1.0	4.7	1.0
Changes in inventories		. .	. .	. .	. .	. .	. .	-1.2
Exports of goods and services		-4.4	1.5	-1.1	-0.8	5.5	4.9	1.1
Imports of goods and services		1.4	-2.4	0.6	11.3	0.7	10.0	-0.1
Statistical discrepancy (E)		. .	. .	. .	. .	. .	. .	0.1
Gross domestic product		0.6	-1.8	3.9	0.7	0.9	3.6	0.9

. . not applicable
- nil or rounded to zero

Revisions to percentage changes

		Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22
Final consumption expenditure
	General government	0.1	-0.1	0.6	-0.1
	Households	-0.1	-	0.1	0.7
	Total final consumption expenditure	-	-0.1	0.3	0.4
Private gross fixed capital formation
	Dwellings	-0.1	0.2	-0.1	0.5
	Ownership transfer costs	-	-0.6	2.2	-0.9
	Non-dwelling construction	-0.4	0.3	0.5	-0.9
	Machinery and equipment	-0.8	1.6	-0.2	-0.1
	Cultivated biological resources	2.3	-6.9	2.7	0.6
	Intellectual property products	-	-0.1	-0.2	-0.1
	Total private gross fixed capital formation	-0.3	0.3	0.3	-0.2
Public gross fixed capital formation
	Public corporations	-0.2	1.1	0.6	2.0
	General government	-0.7	-	-0.6	-0.1
	Total public gross fixed capital formation	-0.5	0.2	-0.3	0.3
Total gross fixed capital formation		-0.3	0.3	0.1	-
Domestic final demand		-0.1	0.1	0.3	0.3
Gross national expenditure		-0.1	0.1	0.1	0.3
Exports of goods and services		-1.0	0.5	-0.1	0.1
Imports of goods and services		-0.3	0.4	-0.1	3.2
Gross domestic product		-0.2	-	0.3	-0.1

- nil or rounded to zero

Household final consumption expenditure

	Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22	Contribution to growth, Mar 22 to Jun 22
Food	-0.6	5.3	-2.2	-1.5	-1.2	0.2	-0.1
Cigarettes and tobacco	-0.9	-1.2	-3.2	-2.2	-3.0	-9.3	-
Alcoholic beverages	-1.4	8.0	-1.5	-1.4	2.7	7.7	0.1
Clothing and footwear	0.9	-21.5	41.6	4.4	3.7	20.3	0.2
Rent and other dwelling services	0.4	0.4	0.4	0.4	0.4	1.8	0.1
Electricity, gas and other fuel	9.4	-1.0	-1.9	-2.2	3.3	-1.9	0.1
Furnishings and household equipment	-0.1	-4.4	7.9	0.2	-1.0	2.4	-
Health	1.7	-7.2	8.2	-1.8	3.1	1.7	0.2
Purchase of vehicles	7.2	-8.9	-2.7	12.7	-4.3	-4.5	-0.1
Operation of vehicles	1.3	-12.6	13.8	1.0	3.0	3.4	0.1
Transport services	24.0	-44.1	58.0	72.3	37.3	108.8	0.6
Communications	0.9	1.4	1.0	1.6	1.0	5.1	-
Recreation and culture	-0.8	-11.7	17.4	6.3	3.6	14.2	0.4
Education services	0.6	0.5	0.8	0.6	0.4	2.4	-
Hotels, cafes and restaurants	2.4	-20.4	25.7	7.6	8.8	17.2	0.6
Insurance and other financial services	0.7	1.0	1.3	1.2	0.6	4.1	0.1
Other goods and services	1.0	-6.0	9.1	0.9	2.0	5.6	0.1
Total	1.0	-4.7	6.5	2.2	2.2	6.0	2.2

Industry gross value added

Percentage changes

	Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22	Contribution to growth, Mar 22 to Jun 22
Agriculture, Forestry and Fishing	2.2	8.2	7.9	-6.4	1.6	11.0	-
Mining	-1.1	1.7	-1.3	-1.3	0.2	-0.7	-
Manufacturing	1.4	-1.5	2.1	1.0	-1.1	0.6	-0.1
Electricity, Gas, Water and Waste Services	1.4	0.7	-1.2	1.7	4.1	5.3	0.1
Construction	1.7	-0.8	2.8	0.7	-0.4	2.2	-
Wholesale Trade	0.6	-5.8	4.4	3.5	-2.2	-0.5	-0.1
Retail Trade	0.6	-3.5	7.0	0.8	0.4	4.4	-
Accommodation and Food Services	3.0	-24.8	23.9	3.8	10.7	7.0	0.2
Transport, Postal and Warehousing	2.8	-2.3	3.4	4.2	7.5	13.1	0.3
Information Media and Telecommunications	1.9	0.9	5.8	0.2	1.6	8.7	-
Financial and Insurance Services	1.5	0.4	1.4	-0.1	0.9	2.6	0.1
Rental, Hiring and Real Estate Services	1.0	-0.2	1.9	-1.3	1.0	1.3	-
Professional, Scientific and Technical Services	-0.1	0.3	5.0	3.6	1.3	10.5	0.1
Administrative and Support Services	6.1	-1.1	5.3	1.1	2.8	8.3	0.1
Public Administration and Safety	0.2	0.8	1.6	0.2	-0.5	2.2	-
Education and Training	0.3	0.4	0.4	0.4	0.4	1.7	-
Health Care and Social Assistance	2.4	-2.2	5.9	-0.7	2.5	5.4	0.2
Arts and Recreation Services	0.1	-5.8	9.1	4.4	3.5	11.1	-
Other Services	1.8	-13.6	17.7	-0.5	1.9	3.1	-
Ownership of dwellings	0.4	0.5	0.5	0.5	0.4	1.8	-
Gross value added at basic prices	1.1	-1.1	3.3	0.6	1.2	4.0	1.1
Taxes less subsidies on products	-1.0	-9.3	8.7	2.4	-0.1	0.9	-
Statistical discrepancy (P)	. .	. .	. .	. .	. .	. .	-0.2
Gross domestic product	0.6	-1.8	3.9	0.7	0.9	3.6	0.9

. . not applicable
- nil or rounded to zero
a. Excludes ownership of dwellings.

Revisions to percentage changes

	Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22
Agriculture, Forestry and Fishing	-2.3	3.5	1.0	-0.6
Mining	-0.2	-	-0.1	0.2
Manufacturing	-0.2	0.2	-0.1	-0.1
Electricity, Gas, Water and Waste Services	-0.7	0.6	-0.5	0.8
Construction	-0.4	0.1	0.1	0.5
Wholesale Trade	-0.6	-0.4	0.9	0.3
Retail Trade	0.1	-	-0.2	-
Accommodation and Food Services	-	-	-	0.1
Transport, Postal and Warehousing	-0.1	0.1	-	-0.1
Information Media and Telecommunications	-	-	-	-1.0
Financial and Insurance Services	0.4	-0.3	0.8	-0.8
Rental, Hiring and Real Estate Services	-0.4	0.2	-	0.5
Professional, Scientific and Technical Services	-0.3	0.1	-	0.5
Administrative and Support Services	-	-	-	0.6
Public Administration and Safety	-	-	-	-
Education and Training	-	-	-	-
Health Care and Social Assistance	-	-0.1	-	0.2
Arts and Recreation Services	-	-	-	-
Other Services	-	-	-	-0.3
Ownership of dwellings	-	-	0.1	0.1
Gross value added at basic prices	-0.2	0.1	0.1	0.1
Taxes less subsidies on products	-1.4	-0.6	4.1	-0.6
Gross domestic product	-0.2	-	0.3	-0.1

- nil or rounded to zero
a. Excludes ownership of dwellings.

Income from GDP

Seasonally adjusted current prices, percentage changes

			Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22	Mar 22 to Jun 22	Through the year, Jun 21 to Jun 22	Contribution to growth, Mar 22 to Jun 22
Compensation of employees
	Wages and salaries		1.1	0.3	1.8	2.0	2.5	6.7	1.0
	Employers' social contributions (a)		0.9	3.0	1.7	1.8	2.1	8.9	0.1
	Total compensation of employees		1.1	0.6	1.8	1.9	2.4	7.0	1.1
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	4.6	4.7	1.5	9.4	11.2	29.3	2.6
		Public non-financial corporations	5.9	-2.0	-3.0	3.8	10.8	9.3	0.1
		Total non-financial corporations	4.6	4.4	1.3	9.2	11.2	28.5	2.7
	Financial corporations		1.6	1.5	1.3	1.0	3.6	7.7	0.2
	Total corporations		4.1	3.9	1.3	7.9	10.0	24.9	2.8
	General government		0.8	1.0	0.8	0.8	0.8	3.5	-
	Dwellings owned by persons		1.1	1.1	0.5	1.7	1.2	4.5	0.1
	Total gross operating surplus		3.3	3.2	1.1	6.3	7.9	19.6	2.9
Gross mixed income			-0.1	8.8	3.1	-3.4	4.7	13.5	0.4
Total factor income			1.8	2.4	1.7	3.2	4.9	12.6	4.4
Taxes less subsidies on production and imports			12.2	-26.4	30.9	15.3	-3.0	7.8	-0.3
Statistical discrepancy (I)			. .	. .	. .	. .	. .	. .	0.1
Gross domestic product			2.7	-0.3	3.6	4.1	4.3	12.1	4.3

. . not applicable
- nil or rounded to zero
a. Includes contributions to superannuation made by employers and payments of workers' compensation premiums.

Revisions to percentage changes

			Mar 21 to Jun 21	Jun 21 to Sep 21	Sep 21 to Dec 21	Dec 21 to Mar 22
Compensation of employees
	Wages and salaries		-0.1	0.1	-0.2	0.2
	Employers' social contributions (a)		-	0.1	-0.1	-
	Total compensation of employees		-0.1	0.1	-0.2	0.1
Gross operating surplus
	Non-financial corporations
		Private non-financial corporations	-2.1	-0.1	0.1	2.1
		Public non-financial corporations	-3.6	2.2	-0.8	3.6
		Total non-financial corporations	-2.2	-	0.1	2.2
	Financial corporations		-0.1	0.1	-	0.1
	Total corporations		-1.8	-	0.1	1.9
	General government		-	-	-	-
	Dwellings owned by persons		-0.2	0.2	-	0.1
	Total gross operating surplus		-1.3	0.1	-	1.5
Gross mixed income			0.3	0.2	0.3	-0.7
Total factor income			-0.6	0.1	-	0.6
Taxes less subsidies on production and imports			-0.3	-0.1	1.6	-0.4
Gross domestic product			-0.5	0.3	0.1	0.4

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

State final demand

	Percentage change from Mar 22 to Jun 22
Final consumption expenditure
	General government	-1.0	-1.5	-0.1	2.5	-0.6	-1.4	-6.2	-0.6	-0.8
	Households	2.5	2.3	2.2	1.5	1.4	1.4	1.4	1.4	2.2
Gross fixed capital formation
	Private	1.5	-2.7	-2.4	1.3	-1.4	-0.1	5.2	1.8	-1.5
	Public	8.7	9.6	4.1	-2.4	-3.3	2.9	4.3	3.6	5.9
State final demand	1.9	1.0	1.0	1.5	0.1	0.6	-0.5	0.6	1.0

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Revisions and changes

Revisions in this issue

In addition to revisions due to the incorporation of more up-to-date data and concurrent seasonal adjustment, this issue of the quarterly national accounts also incorporates revisions to travel services debits.

Revisions to travel services debits

As noted with the June 2022 issue of International Trade in Goods and Services, Australia, there have been revisions to travel services debits back to November 2021 following a review of the annual benchmark used to calculate this series. The key series impacted are imports of goods and services, and household final consumption expenditure.

Upcoming revisions - Annual Australian System of National Accounts historical revisions

Statistical revisions are carried out regularly in the Australian National Accounts to reflect the most current information and estimation methods. For most statistical releases the ABS will try to limit revisions to the most recent quarters. Periodically ABS needs to revise a longer time series of selected estimates, which is referred to as a “historical revision". Historical revisions are important for a number of reasons including improved data quality, to update classifications and to improve international comparability.

Historical revisions in the national accounts have traditionally been undertaken on an ad-hoc basis every few years. This involved holding back individual historical revisions until a time where many changes were put through in bulk. Going forward the ABS has decided to change this policy to annually make a smaller number of targeted Historical revisions. This is to ensure that the National accounts uses the most up to date data available, best captures changes in a dynamic economy and is more responsive to user needs. The ABS will advise users on annual targeted historical revisions in advance of publication.

This year’s round of targeted historical revisions will be first published in:

Australian National Accounts: Supply Use Tables, 2020-21 - 28 October 2022
Australian System of National Accounts, 2021-22 - 28 October 2022
Australian National Accounts: National Income, Expenditure and Product, September quarter 2022 - 7 December 2022

The 2022 round of revisions will incorporate two major changes focussing on measurement of education:

Changed treatment of non-government schools

The ABS will reclassify non-government schools from non-market Non-Profit Institutions Serving Households (NPISH) to market producers (market, non-profit institutions). These changes have been previously highlighted in the 2020-21 annual GFS publication. This will have minimal change on GDP, but results in a reclassification of government payments to non-government schools as government final consumption expenditure (GFCE). This reclassification will be largely offset in Household Final Consumption Expenditure (HFCE), where government payments to non-government schools are currently included. Household and General government net savings will also be relatively unchanged overall.

Changes to education outputs

The ABS has aligned the value of outputs of non-government schools to data from the Australian Curriculum, Assessment and Reporting Authority. These estimates result in an upwards revision to the output and gross value added of Division P: Education and Training and increased HFCE in primary and secondary education services. The ABS has also incorporated improved volume estimates of output for primary and secondary, vocational and higher education.

Suspension of trend estimates

Due to the impacts of COVID-19 on the economy, trend estimates for all series in the National Accounts have been suspended from June 2019 (inclusive). In the short term, this measurement will be significantly affected by changes to regular patterns in economic activity. If trend estimates were to be calculated without fully accounting for this unusual event, they would likely provide a misleading view of the underlying trend in the economy.

Extraordinary Annual Seasonal Review (EASR)

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.

Given the large changes in the Australian economy during the COVID-19 period and the continuing use of a forward factors approach to seasonal adjustment, the ABS has undertaken an extensive annual review of seasonally adjusted series. This review changed a range of time series treatments to ensure that the seasonal adjustment process continues to be less influenced by the large irregular movements over the past year. Revisions to most seasonally adjusted series are relatively minor, but larger than would be observed on a quarterly basis through the use of concurrent seasonal adjustment.

For some series, the review has allowed a return to concurrent seasonal adjustment, where economic conditions are assessed to have returned to pre COVID-19 patterns. For the remaining series where this is not the case, forward factors have been calculated for the next 12 months through this annual process.

Upcoming changes to publication tables

The ABS shortly plans to publish the analytical series COE per hour worked to provide further insights into labour costs. Annual estimates will first be included in the 2021-22 issue of Australian System of National Accounts, scheduled for release on 28 October 2022. The series will be added to publication table 16. Selected Analytical Series. Subsequently, quarterly and annual estimates will be added to the September quarter 2022 issue of this publication, scheduled for release on 7 December 2022. Tables 24. Selected Analytical Series and 34. Key Aggregates and Analytical Series, Annual will be affected. For further information on the changes, please contact national.accounts@abs.gov.au.

For insights into pandemic impacts on COE per hour worked and other national accounts labour measures, please refer to the spotlight article Analytical measures of labour costs.

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
Download xlsx [623.57 KB]
Table 3. Expenditure on Gross Domestic Product (GDP), Current prices
Download xlsx [313.15 KB]
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
Download xlsx [156.97 KB]
Table 6. Gross Value Added by Industry, Chain volume measures
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Table 7. Income from Gross Domestic Product (GDP), Current prices
Download xlsx [215.31 KB]
Table 8. Household Final Consumption Expenditure (HFCE)
Download xlsx [439.62 KB]
Table 9. Changes in Inventories
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Table 10. Agricultural Income, Current prices
Download xlsx [90.66 KB]
Table 11. National Income Account, Current prices
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Table 12. National Capital Account, Current prices
Download xlsx [138.37 KB]
Table 13. Non-Financial Corporations Income Account, Current prices
Download xlsx [149.59 KB]
Table 14. Private Non-Financial Corporations Income Account, Current prices
Download xlsx [143.93 KB]
Table 15. Public Non-Financial Corporations Income Account, Current prices
Download xlsx [134.82 KB]
Table 16. Financial Corporations Income Account, Current prices
Download xlsx [143.92 KB]
Table 17. General Government Income Account, Current prices
Download xlsx [239.9 KB]
Table 18. National General Government Income Account, Current prices
Download xlsx [219.06 KB]
Table 19. State and Local General Government Income Account, Current prices
Download xlsx [194.64 KB]
Table 20. Household Income Account, Current prices
Download xlsx [264.78 KB]
Table 21. External Account, Current prices
Download xlsx [123.62 KB]
Table 22. Taxes, Current prices
Download xlsx [153.25 KB]
Table 23. Social Assistance Benefits Payments, Current prices
Download xlsx [85.4 KB]
Table 24. Selected Analytical Series
Download xlsx [363.17 KB]
Table 25. State Final Demand, Summary Components by State: Chain volume measures
Download xlsx [305.2 KB]
Table 26. State Final Demand, Detailed Components: New South Wales
Download xlsx [509.59 KB]
Table 27. State Final Demand, Detailed Components: Victoria
Download xlsx [504.85 KB]
Table 28. State Final Demand, Detailed Components: Queensland
Download xlsx [500.73 KB]
Table 29. State Final Demand, Detailed Components: South Australia
Download xlsx [481.88 KB]
Table 30. State Final Demand, Detailed Components: Western Australia
Download xlsx [509.1 KB]
Table 31. State Final Demand, Detailed Components: Tasmania
Download xlsx [463.1 KB]
Table 32. State Final Demand, Detailed Components: Northern Territory
Download xlsx [476.59 KB]
Table 33. State Final Demand, Detailed Components: Australian Capital Territory
Download xlsx [462.71 KB]
Table 34. Key Aggregates and analytical series, Annual
Download xlsx [98.23 KB]
Table 35. Income from GDP and Changes in Inventories, Annual
Download xlsx [57.99 KB]
Table 36. Expenditure on Gross Domestic Product (GDP), Chain volume measures and Current prices, Annual
Download xlsx [128.9 KB]
Table 37. Industry Gross Value Added, Chain volume measures, Annual
Download xlsx [71.8 KB]
Table 38. National Income Account, Current prices, Annual
Download xlsx [54.33 KB]
Table 39. National Capital Account, Current prices, Annual
Download xlsx [53.86 KB]
Table 40. External Account, Current prices, Annual
Download xlsx [52.44 KB]
Table 41. Indexes of Industrial Production
Download xlsx [119.69 KB]
Table 42. Unit Labour Costs
Download xlsx [71.34 KB]
Table 43. Indexes of Industrial Production, Annual
Download xlsx [53.26 KB]
Table 44. Compensation of Employees, State by Sector: Current prices
Download xlsx [108.46 KB]
Table 45. Gross Value Added by Industry, Current prices
Download xlsx [240.53 KB]

Data cubes

Experimental food consumption estimates using scanner data

A datacube with experimental estimates of household final consumption expenditure on food compiled using supermarket scanner data has been included in this Data downloads section.

The ABS plans to replace existing estimates of food consumption with scanner data based estimates in September quarter 2022. If you have any questions or feedback about these changes, please contact National Accounts.

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

Data files

Download xlsx [93.95 KB]

Previous catalogue number

This release previously used catalogue number 5206.0.

Methodology

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

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APA

Australian National Accounts: National Income, Expenditure and Product

APA

Key statistics

In this release

Economic overview

June key figures, percentage changes (a)

Australian economy rose 0.9% in the June quarter 2022

Domestic demand remains strong

Export demand supports growth

Increased travel contributes to household spending

Price pressures continue to build across the economy

Commodity prices drive Mining profits

Continued growth in COE as labour market tightens

Mining performance drives changes in factor income shares

Household saving ratio continues to decline as consumption opportunities increase

Services industries drive strength in gross value added

Expenditure

Final consumption expenditure (FCE) 1.3%

Gross fixed capital formation (GFCF) 0.2%

Changes in inventories

Exports and imports of goods and services

Income

Compensation of employees (COE) 2.4%

Gross operating surplus (GOS) 7.9%

Taxes less subsidies on production and imports -3.0%

Production

Agriculture, Forestry and Fishing 1.6%

Mining 0.2%

Manufacturing -1.1%

Electricity, Gas, Water and Waste Services 4.1%

Construction -0.4%

Wholesale Trade -2.2%

Retail Trade 0.4%

Accommodation and Food Services 10.7%

Transport, Postal and Warehousing 7.5%

Information Media and Telecommunications 1.6%

Financial and Insurance Services 0.9%

Rental, Hiring and Real Estate Services 1.0%

Professional, Scientific and Technical Services 1.3%

Administrative and Support Services 2.8%

Health Care and Social Assistance 2.5%

Arts and Recreation Services 3.5%

Other Services 1.9%

State and territory final demand

Quarterly volume measures, seasonally adjusted

New South Wales 1.9%

Victoria 1.0%

Queensland 1.0%

South Australia 1.5%

Western Australia 0.1%

Tasmania 0.6%

Northern Territory -0.5%

Australian Capital Territory 0.6%

Key tables

Key national accounts aggregates

Revisions to percentage changes (a)

Analytical expenditure aggregates

Percentage changes

Revisions to percentage changes

Expenditure aggregates

Contributions to growth

Expenditure on GDP

Percentage changes

Revisions to percentage changes

Household final consumption expenditure

Percentage changes

Industry gross value added

Percentage changes

Revisions to percentage changes

Income from GDP

Seasonally adjusted current prices, percentage changes

Revisions to percentage changes

State final demand

Related releases

Monthly Household Spending Indicator, July 2022

Australian National Accounts: Finance and Wealth (cat. no. 5232.0)

Read more

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

Australian National Accounts: Supply Use Tables (cat. no. 5217.0)