GDP slows

Second quarter GDP slowed to 0.6% versus consensus of 0.7%, delivering 3.7% over the year:

JUNE KEY FIGURES

		% change Mar qtr 12 to Jun qtr 12	% change Jun qtr 11 to Jun qtr 12

GDP (Chain volume measure)
	Trend	0.8	3.8
	Seasonally adjusted	0.6	3.7
Final consumption expenditure (Chain volume measure)
	Trend	1.0	3.9
	Seasonally adjusted	0.8	3.8
Gross fixed capital formation (Chain volume measure)
	Trend	1.3	8.8
	Seasonally adjusted	1.0	11.0
GDP chain price index
	Original	0.4	-1.2
Terms of trade
	Seasonally adjusted	-0.6	-7.1
Real net national disposable income
	Trend	0.2	2.3
	Seasonally adjusted	0.7	2.6

More to come…

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.