1 December 2004
State Final Demand Growth
 |
Syd Stirling MLA
Treasurer
Related
Links
This page
is maintained by the
Office of the Chief Minister
State Final Demand increased by 4.3% in the year to September 2004, according to the latest ABS figures.
The figures do record a drop of 3% in the September quarter – a result of volatility in quarter on quarter figures influenced by the timing of investment for major projects such as Bayu Undun.
Taking out investment in Bayu-Undan Stage One, SFD growth for the year to the September quarter is estimated at 7.6%.
“Territory consumption, which typically represents around 75% of SFD, increased by 1.2% in the September quarter,” Treasurer Syd Stirling said.
“In year on year terms, private consumption increased by 6.7% and government consumption by 2%.
“Investment, which is the volatile component of SFD was down by 13.7% in the September quarter, largely as a result of the timing of investment in Bayu-Undan.
“However, in year on year terms, investment has remained at a very high level – around $3 billion a year – since mid-2002.
“Major projects and increasing activity in the onshore economy will continue to contribute positively to economic growth throughout the Territory.”