Presentation on theme: "National Accounts Briefing September Quarter 2014."— Presentation transcript:
National Accounts Briefing September Quarter 2014
2 Real GDP growth moderated in the quarter Note: The range of market expectations was 2.7 per cent to 3.3 per cent for through-the-year growth and 0.4 per cent to 0.9 per cent for quarterly growth.
3 Strong contributions from consumption and net exports over the year Note: This chart shows through the year contributions to GDP growth. The sum of individual components does not add to the aggregate due to rounding.
4 Nominal GDP fell with commodity prices in the quarter
5 Real gross domestic income growth has fallen with the terms of trade
6 Terms of trade continued to decline
7 Note: This chart shows percentage point contributions to through the year growth. Iron ore data is sourced from ABS trade data. Coal includes coke and briquettes. Other goods and services is calculated as a residual of the total. Source: ABS cat. no. 5302.0 and ABS trade data. Exports driven by iron ore
8 Household consumption
9 Components of household consumption
10 Dwellings investment fell in the quarter
11 Source: ABS cat. no. 5206.0 and 8731.0. Continued strength in the dwellings pipeline
12 New business investment continued to fall
13 Business conditions have caught up with confidence Source: NAB Monthly Business Survey
14 New public final demand remained weak
15 Pick-up in leading employment indicators Source: ABS cat. no. 6354.0, ANZ and Department of Employment.