Gross Domestic Product: December 2011 quarter

Gross domestic product (GDP):

• Economic activity increased 0.3 percent in the December 2011 quarter.
• Finance, insurance, and business services (up 1.3 percent) were the largest contributors to economic growth this quarter.
• Agriculture (up 3.5 percent) and retail, accommodation, and restaurants (up 2.2 percent) also grew.
• GDP was up 1.4 percent for the year ended December 2011.

For the expenditure measure of GDP:

• The expenditure measure of GDP was up 0.5 percent in the December 2011 quarter.
• Household consumption expenditure was up 0.8 percent.
• Exports of goods and services increased (up 2.8 percent), while imports fell (down 2.9 percent).
• For the year ended December 2011, expenditure on GDP was up 1.3 percent.