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Gross Domestic Product: June 2014 quarter
Embargoed until 10:45am  –  18 September 2014
Key facts

Gross domestic product (GDP):

  • Economic activity grew 0.7 percent in the June 2014 quarter.
  • Business services (up 4.2 percent) was the main driver of the growth.
  • Agriculture, forestry and fishing (down 2.8 percent) partly offset the growth. 
  • Economic activity for the year ended June 2014 was up 3.5 percent. 

Expenditure on gross domestic product:

  • The expenditure measure of GDP was up 0.5 percent in the June 2014 quarter.
  • Investment was up 1.5 percent and household consumption expenditure was up 1.3 percent.
  • Inventories built up $650 million, due to distribution inventories.
  • Exports of goods and services fell 2.9 percent, driven by food, beverages, and tobacco.
  • Imports of goods and services rose 2.9 percent, mainly due to capital goods. 

A diagrammatic overview of the main movements is available from the 'Downloads' box.

                                    Note: Seasonally adjusted chain-volume series expressed in 1995/96 prices.

Liz MacPherson, Government Statistician
ISSN 1178-0290, 18 September 2014

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