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House of Assembly - Fifty-Second Parliament, Second Session (52-2)
2013-06-05 Daily Xml
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Question Time

STATE FINAL DEMAND

Mr MARSHALL (Norwood—Leader of the Opposition) (14:04): My question is to the Premier. Can the Premier update the house on today's state final demand growth figures for the year to date?

The Hon. J.W. WEATHERILL (Cheltenham—Premier, Treasurer, Minister for State Development, Minister for the Public Sector, Minister for the Arts) (14:05): I thank the honourable member for his question and I can indeed update the house. State final demand decreased by 0.3 per cent in real seasonally adjusted terms over the March 2013 quarter. Nationally, domestic final demand also fell by 0.3 per cent over that same quarter.

The state final demand result reflects 3.4 per cent decline in public gross fixed capital formation, so that's government capital investment, and a 2.8 per cent decline in private gross fixed capital formation, namely private sector capital investment, and a 0.6 per cent decline in general government final consumption. That fall was partially offset by a 0.7 per cent increase in household final consumption. So, they are the components that comprise state final demand. It is worth pointing out that quarterly state final demand figures are highly volatile and don't reflect a complete picture of the state's economic performance.

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