September 2, 2010A boost in exports and housing spending saw Australia’s GDP grow 1.2 percent in the June quarter, according to new
ABS data out this week.
Growth through the year to the June quarter was 3.3 percent.
In seasonally adjusted terms growth in the expenditure measure of GDP was driven by a 1.6 percent increase in household expenditure and an increase in exports of 5.6 percent.
Offsetting these increases was the change in inventories, which detracted 0.7 percentage points from GDP growth for the quarter.
The industries which provided the main contribution to growth in seasonally adjusted terms in the production measure of GDP in the June quarter were: construction (up 4.9 percent); mining (up 1.5 percent); and professional, scientific & technical services (up 2.3 percent).
