Aussie economy growing
Latest ABS figures show that GDP, in seasonally adjusted volume terms, grew 1.0% in the September quarter 2011, after a revised increase of 1.4% in the June quarter.
The growth for the quarter was driven by a 1.5% contribution to growth from capital expenditure on non-dwelling construction, a 0.4% contribution from final consumption expenditure, and 0.4% contribution from capital expenditure on machinery and equipment.
The increases were partially offset by a -0.8 percentage points contribution from changes in inventories, and -0.6% contribution from net exports.
The industries that drove growth in the September quarter were Construction with 0.4% contribution to growth, and Mining with 0.3% contribution to growth.
On the back of this GDP growth and a 2.7% increase in the Terms of trade, Real gross domestic income grew 1.6% in seasonally adjusted terms for the quarter.
Further details can be found in Australian National Accounts: National Income, expenditure and Product (cat. no. 5206.0).