Fed: Aust economy grows 1.1 pct in Sept qtr

AAP General News (Australia)
12-05-2001
Fed: Aust economy grows 1.1 pct in Sept qtr

CANBERRA, Dec 5 AAP - Australia's economy grew by 1.1 per cent in the three months
to September, taking the annual growth rate to 2.5 per cent, new figures showed today.

Rises in household spending and home building offset falls in stock levels and exports,
the Australian Bureau of Statistics (ABS) said.

Allowing for seasonal changes, household consumption grew 0.8 per cent largely because
of higher spending on health (up 3.6 per cent) and in hotels, cafes, and restaurants (up
2.8 per cent), the ABS said.

Exports or goods and services fell a seasonally adjusted 1.6 per cent in the quarter, it said.

The ABS also revised the past three quarters of GDP.

June quarter growth was now 1.2 per cent (up from 0.9 per cent), March quarter growth
was 0.6 per cent (down from 0.7 per cent) and December 2000 quarter growth was minus 0.5
(down from minus 0.4 per cent).

AAP jph/daw/ph

KEYWORD: GDP

2001 AAP Information Services Pty Limited (AAP) or its Licensors.