Economic Well-being: Quarter 3, July to Sept 2016

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  • In Quarter 3 (July to September) 2016, gross domestic product (GDP) per head increased 0.4% compared with Quarter 2 (April to June) 2016 and is now 1.5% above pre-economic downturn levels. This was a slightly slower growth rate than the 0.6% quarterly increase seen in GDP.
  • Net national disposable income (NNDI) per head increased by 0.6% in Quarter 3 2016 compared with the same quarter a year ago. This means that NNDI per head reached its pre-economic downturn peak for the first time in Q3 2016. GDP per head reached this yardstick in 2015 Q3.
  • In Quarter 3 2016, real household disposable income (RHDI) per head excluding non-profit institutions serving households (NPISH), decreased 0.2% compared with the same quarter a year ago. This decline was largely driven by an increase in the general price level, although growth in wages and salaries mitigated the downwards pressure from prices.
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