KEY TAKEAWAYS FROM THE NATIONAL ACCOUNTS
* The financial system grew by 0.4 per cent over the June quarter, and a couple of.1 per cent by way of the yr (primarily based on a calculation that excludes a part of the restoration from lockdowns)
* This represented a gradual quarterly outcome after the Australian Bureau of Statistics revised the March outcomes up from 0.2 per cent to 0.4 per cent. On an annual foundation, the speed of progress has slowed from 2.4 per cent by way of to March.
* On a per individual foundation, progress fell 0.3 per cent, marking the second month in a row of damaging per capita progress after it sank 0.3 per cent within the three months to March. The inhabitants has been rising strongly since borders reopened.
* Household spending grew by a modest 0.1 per cent as value of dwelling pressures took a toll. Spending on nice-to-haves fell 0.5 per cent within the June quarter, which was the third quarterly fall in a row.
* The family saving ratio declined to three.2 per cent, its lowest degree since mid-2008, with Australians struggling to squirrel cash away.
* The complete earnings obtained by households rose 1.8 per cent, with the quantity folks obtained of their pay packets lifting 1.6 per cent.
* Public funding rose 8.2 per cent through the quarter, bolstered by spending on initiatives such because the Western Sydney Airport and Snowy 2.0.
* New personal funding elevated 1.6 per cent as provide chain disruptions cleared up and new vehicles and different tools arrived after lengthy delays.
* Total funding in dwellings fell 0.2 per cent through the quarter as a result of a slowdown in renovations.
* Exports of products and companies rose 4.3 per cent, fuelled by a pick-up in mining commodities, worldwide pupil arrivals and vacationers.
Source: www.perthnow.com.au
