NOOSA District State High School students enjoyed learning about how to operate and manage a business.
NOOSA District State High School students enjoyed learning about how to operate and manage a business.

GDP grows by 0.6% in September quarter

AUSTRALIA'S  gross domestic product has grown by 0.6% in the September quarter Australian Bureau of Statistics  figures show.

The figure, released today,  was marginally under the 0.7 per cent rise widely forecast by economists.

The September quarter growth follows a 0.7 per cent rise in GDP for the June quarter.

"The terms of trade fell -3.3%, and real gross domestic income fell -0.1%," an ABS statement said..

"In seasonally adjusted terms, the contributors to expenditure on GDP were Public gross fixed capital formation (1.3 percentage points), Net Exports (0.7 percentage points) and Final consumption expenditure (0.4 percentage points).

"The detractors were Private gross fixed capital formation (-1.4 percentage points) and Changes in inventories (-0.5 percentage points).

"In seasonally adjusted terms, the main contributors to GDP were Mining (up 2.7%) and Construction (up 1.1%). Mining contributed 0.3 percentage points to the increase in GDP while Construction contributed 0.1 percentage points.

"In seasonally adjusted terms, the contributors to expenditure on GDP were Public gross fixed capital formation (1.3 percentage points), Net Exports (0.7 percentage points) and Final consumption expenditure (0.4 percentage points).

"The detractors were Private gross fixed capital formation (-1.4 percentage points) and Changes in inventories (-0.5 percentage points)."



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