Key findings: P0441 - Gross Domestic Product (GDP), 1st Quarter 2011

The seasonally adjusted real GDP at market prices for the first quarter of 2011 increased by an annualised rate of 4,8 per cent compared with an increase of 4,5 per cent (revised from an increase of 4,4 per cent) during the fourth quarter of 2010.

The contributors to the increase in economic activity for the first quarter of 2011 were the manufacturing industry (2,2 percentage points), finance, real estate and business services (1,0 percentage points), the wholesale, retail, motor trade and accommodation industry (0,5 of a percentage point) and the transport, storage and communication industry (0,3 of a percentage point). The construction industry contributed (0,0 of a percentage point) for six consecutive quarters.

The seasonally adjusted real annualised value added by primary, secondary and tertiary sectors recorded increases of 0,5 per cent, 11,1 per cent and 3,7 per cent respectively, during the first quarter of 2011.

The unadjusted real GDP at market prices for the first quarter of 2011 increased by 3,6 per cent compared with the first quarter of 2010.

The GDP estimates are preliminary, and may routinely be revised on the basis of additional evidence that has become available by the time the subsequent quarter`s estimates are released.

Issued by Statss, May 31 2011. See full release here - PDF.

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