Gross Domestic Product: December 2011 quarter

Embargoed until 10:45am  –  22 March 2012

Key facts

Gross domestic product (GDP):

  • Economic activity increased 0.3 percent in the December 2011 quarter.
  • Finance, insurance, and business services (up 1.3 percent) were the largest contributors to economic growth this quarter.
  • Agriculture (up 3.5 percent) and retail, accommodation, and restaurants (up 2.2 percent) also grew.
  • GDP was up 1.4 percent for the year ended December 2011.

For the expenditure measure of GDP:

  • The expenditure measure of GDP was up 0.5 percent in the December 2011 quarter.
  • Household consumption expenditure was up 0.8 percent.
  • Exports of goods and services increased (up 2.8 percent), while imports fell (down 2.9 percent).
  • For the year ended December 2011, expenditure on GDP was up 1.3 percent.

 Graph, Gross domestic product, quarterly change, December 2005 to 2011.

Geoff Bascand
Government Statistician

22 March 2012
ISSN 1178-0290