State final demand September quarter 2017

Quarterly change (seasonally adjusted)

Territory SFD increased by 0.9 per cent to $7.7 billion in the September quarter 2017. The Territory recorded the second highest quarterly increase in SFD of all jurisdictions, equal with Western Australia (Chart 1). Nationally, domestic final demand increased by 0.6 per cent.

Investment in the Territory increased by 1.6 per cent to $3.0 billion. This was largely driven by a 1.5 per cent increase in private business investment to $2.5 billion (mainly non-dwelling construction) and a 9.8 per cent increase in public investment to $326 million (mainly state and local general government). This was partly offset by a 10 per cent decrease in dwelling investment to $135 million, the lowest level since March quarter 2013.

Consumption increased by 0.4 per cent to $4.7 million, driven by a 1.5 per cent increase in public consumption, partly offset by a 0.3 per cent decrease in household consumption (mainly driven by food and hotels, cafes and restaurants).

Annual change (seasonally adjusted)

Territory SFD increased by 5.9 per cent on annual terms, driven by private business investment, household consumption and public consumption. The Territory recorded the highest annual increase in SFD of all jurisdictions. National domestic demand increased by 3.2 per cent.

Year on year change (original)

In the year to September 2017, Territory SFD increased by 7.1 per cent to $30.4 billion, driven by growth in both investment and consumption, however has moderated from previous quarters (Chart 2). The Territory recorded the highest year on year change of the jurisdictions.

Private investment increased by 21.9 per cent to $10.3 billion (Chart 3), driven by a 27.6 per cent increase in private business investment (all components, except machinery and equipment investment). This was partly offset by a 22.9 per cent decrease in dwellings investment (both new and used dwellings and alterations and additions).

Public investment decreased by 0.1 per cent to $1.4 billion, driven by a 6.2 per cent decrease in public corporations investment. General government investment increased by 1.8 per cent, driven by activity at the national level.

Household consumption increased by 1.3 per cent to $11.3 billion, which is largely driven by miscellaneous goods and services category (insurance and financial services and other services), as well as housing and other dwelling services (mainly rents).

Public consumption increased by 0.2 per cent to $7.4 billion (driven by state and local activity).