7 June 2017 Table 2: Expenditure Components of SFD/DFD and GDP Real, Trend – Next release of ABS Cat No 5206.0 is 6 September 2017 Mar qtr 17 vs Mar qtr 17 vs Dec qtr 16 Mar qtr 16 (% change) (% change) SA AUS SA AUS Explanatory Notes Household 0.6 0.7 2.5 2.4 Consumption Gross Domestic Product (GDP) is the total market value of goods and services produced in within a given period. Government -0.2 0.1 0.6 2.1 The state by state breakdown of this figure is Gross State Consumption Product (GSP), however estimates of GSP growth are only published annually. New Business 4.2 0.3 3.3 -3.4 Investment The main quarterly measure of state economic activity is State Final Demand (SFD), which is an estimate of the Dwelling -0.6 -1.3 -0.8 -0.5 level of spending in the local economy by private and Investment public sectors. Spending is reported on the consumption Ownership of goods and services, and capital investment. 0.2 2.8 -2.9 2.7 Transfer Costs Spending (SFD) is not the same as production (GDP). Public SFD for example, includes spending by households and 2.0 1.7 21.1 8.5 Investment businesses on imports, which are not produced (and do not create jobs) in . SFD does not exports, include ’s SFD/ DFD 0.9 0.5 2.7 1.7 which do get produced and create jobs in the State. Exports* np 0.9 np 6.8 Real Gross Domestic Income measures the purchasing power of the production (GDP) occurring in . It takes into Imports* np 1.4 np 5.9 account the impacts of changes in terms of trade. GDP ’s only measures the volume of goods and services GDP np 0.4 np 1.7 produced, mined and farmed in . If prices are rising for our exports this will lift our incomes. Real GDP does not *National data is for goods and services. State data is no measure this, but real GDI does. longer published in this release.
Table 2: Expenditure Components of SFD/DFD and GDP – Real, Trend Mar qtr 17 vs Dec qtr 16 Mar qtr 17 vs Mar qtr 16 (% change) (% change) SA AUS SA AUS Household Consumption 0.6 0.7 2.5 2.4 Government Consumption -0.2 0.1 0.6 2.1 New Business Investment 4.2 0.3 3.3 -3.4 Dwelling Investment -0.6 -1.3 -0.8 -0.5 Ownership Transfer Costs 0.2 2.8 -2.9 2.7 Public Investment 2.0 1.7 21.1 8.5 SFD/ DFD 0.9 0.5 2.7 1.7 Exports* np 0.9 np 6.8 Imports* np 1.4 np 5.9 GDP np 0.4 np 1.7 *National data is for goods and services. State data is no longer published in this release. 7 June 2017 Next release of ABS Cat No 5206.0 is 6 September 2017 Explanatory Notes Gross Domestic Product (GDP) is the total market value of goods and services produced in within a given period. The state by state breakdown of this figure is Gross State Product (GSP), however estimates of GSP growth are only published annually. The main quarterly measure of state economic activity is State Final Demand (SFD), which is an estimate of the level of spending in the local economy by private and public sectors. Spending is reported on the consumption of goods and services, and capital investment. Spending (SFD) is not the same as production (GDP). SFD for example, includes spending by households and businesses on imports, which are not produced (and do not create jobs) in . SFD does not include ’s exports, which do get produced and create jobs in the State. Real Gross Domestic Income measures the purchasing power of the production (GDP) occurring in . It takes into account the impacts of changes in ’s terms of trade. GDP only measures the volume of goods and services produced, mined and farmed in . If prices are rising for our exports this will lift our incomes. Real GDP does not measure this, but real GDI does.
GDP-SFD_March-quarter-2017.docx