Latest Australian Bureau of Statistics (ABS) figures show that GDP, in seasonally adjusted chain volume terms, grew 0.9 per cent in the March quarter 2015. The consensus expectation was 0.7%.
Trend GDP growth was 0.6% in the last quarter, making an annual 2.2%.
Net exports contributed 0.5 percentage points to GDP growth. Household final consumption expenditure and Changes in inventories each contributed 0.3 percentage points to GDP growth. This was offset by a -0.3 percentage point contribution from Gross fixed capital formation.
The industries which drove GDP growth in the March quarter were Mining and Financial and insurance services. Mining contributed 0.3 percentage points and Financial and insurance services contributed 0.2 percentage points.
The March quarter saw the Terms of trade decrease 2.9 per cent in seasonally adjusted terms.
