Budget Paper 1 — Statement 2
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows annual real GDP growth for the Australian economy from 1994-95 to 2015-16, along with the 20 year average annual growth rate.
| X Values | Real GDP growth | 20 year average |
|---|---|---|
| 1994-95 | 3.70 | 3.39 |
| 1995-96 | 3.90 | 3.39 |
| 1996-97 | 3.90 | 3.39 |
| 1997-98 | 4.40 | 3.39 |
| 1998-99 | 5.00 | 3.39 |
| 1999-00 | 3.90 | 3.39 |
| 2000-01 | 1.90 | 3.39 |
| 2001-02 | 3.90 | 3.39 |
| 2002-03 | 3.10 | 3.39 |
| 2003-04 | 4.20 | 3.39 |
| 2004-05 | 3.20 | 3.39 |
| 2005-06 | 3.00 | 3.39 |
| 2006-07 | 3.80 | 3.39 |
| 2007-08 | 3.70 | 3.39 |
| 2008-09 | 1.70 | 3.39 |
| 2009-10 | 2.00 | 3.39 |
| 2010-11 | 2.20 | 3.39 |
| 2011-12 | 3.60 | 3.39 |
| 2012-13 | 2.60 | 3.39 |
| 2013-14 | 2.75 | |
| 2014-15 | 2.50 | |
| 2015-16 | 3.00 |
Source: ABS cat. no. 8731.0 and unpublished ABS data.
Two charts are shown side-by-side. The first shows units approved 6 months ahead and investment in units over the period from the June quarter of 1994 until the June quarter of 2014. The second shows houses approved 3 months ahead and investment in houses over the period from March quarter 1994 until March quarter 2014.
| X Values | Investment in units | Unit building approvals advanced 6 months |
|---|---|---|
| Jun-94 | 1740.63 | 1930.30 |
| Sep-94 | 1843.13 | 2030.10 |
| Dec-94 | 1844.85 | 2367.00 |
| Mar-95 | 1934.03 | 2790.70 |
| Jun-95 | 1883.10 | 2274.60 |
| Sep-95 | 1771.74 | 2043.30 |
| Dec-95 | 1608.81 | 1886.20 |
| Mar-96 | 1509.45 | 1871.70 |
| Jun-96 | 1382.40 | 1511.90 |
| Sep-96 | 1522.55 | 1328.50 |
| Dec-96 | 1521.00 | 1692.80 |
| Mar-97 | 1630.73 | 1639.40 |
| Jun-97 | 1652.49 | 1785.20 |
| Sep-97 | 1830.20 | 2072.50 |
| Dec-97 | 1929.95 | 1680.40 |
| Mar-98 | 1996.35 | 2134.10 |
| Jun-98 | 2149.97 | 2089.30 |
| Sep-98 | 2197.00 | 1935.40 |
| Dec-98 | 2381.91 | 2378.50 |
| Mar-99 | 2309.97 | 1977.70 |
| Jun-99 | 2243.48 | 2384.60 |
| Sep-99 | 2223.92 | 2039.70 |
| Dec-99 | 2341.27 | 2259.20 |
| Mar-00 | 2629.16 | 2515.40 |
| Jun-00 | 2863.89 | 2288.20 |
| Sep-00 | 2462.55 | 2829.10 |
| Dec-00 | 2013.98 | 2306.50 |
| Mar-01 | 1980.83 | 1701.70 |
| Jun-01 | 1929.61 | 2117.20 |
| Sep-01 | 2148.79 | 1935.30 |
| Dec-01 | 2385.60 | 2103.40 |
| Mar-02 | 2605.28 | 2900.40 |
| Jun-02 | 2824.40 | 2528.90 |
| Sep-02 | 2873.21 | 2405.20 |
| Dec-02 | 3090.49 | 2856.90 |
| Mar-03 | 3243.78 | 3056.90 |
| Jun-03 | 3140.46 | 4780.20 |
| Sep-03 | 3179.46 | 3369.40 |
| Dec-03 | 3376.70 | 2972.80 |
| Mar-04 | 3418.06 | 3415.60 |
| Jun-04 | 3276.26 | 3110.40 |
| Sep-04 | 3414.97 | 3569.60 |
| Dec-04 | 3348.50 | 3469.10 |
| Mar-05 | 3293.52 | 2928.70 |
| Jun-05 | 3429.70 | 3019.80 |
| Sep-05 | 3142.44 | 3158.40 |
| Dec-05 | 3021.05 | 2989.50 |
| Mar-06 | 2961.09 | 2649.90 |
| Jun-06 | 3077.29 | 2377.70 |
| Sep-06 | 2719.64 | 2554.80 |
| Dec-06 | 2814.25 | 2581.60 |
| Mar-07 | 2750.14 | 2615.10 |
| Jun-07 | 2678.21 | 2574.00 |
| Sep-07 | 2729.06 | 2867.50 |
| Dec-07 | 2648.39 | 2865.90 |
| Mar-08 | 2686.85 | 2810.80 |
| Jun-08 | 2657.40 | 3623.90 |
| Sep-08 | 2785.36 | 3289.50 |
| Dec-08 | 2839.29 | 3226.00 |
| Mar-09 | 2828.24 | 2869.60 |
| Jun-09 | 2865.22 | 2586.80 |
| Sep-09 | 2646.71 | 1999.10 |
| Dec-09 | 2502.28 | 1801.70 |
| Mar-10 | 2458.67 | 2461.30 |
| Jun-10 | 2604.96 | 2571.10 |
| Sep-10 | 2887.41 | 3575.40 |
| Dec-10 | 2854.99 | 4001.20 |
| Mar-11 | 3148.13 | 3691.20 |
| Jun-11 | 3073.85 | 4043.40 |
| Sep-11 | 3087.32 | 3550.10 |
| Dec-11 | 3309.65 | 3337.20 |
| Mar-12 | 3262.64 | 3785.80 |
| Jun-12 | 3348.76 | 2584.40 |
| Sep-12 | 3517.92 | 2936.10 |
| Dec-12 | 3597.56 | 4392.30 |
| Mar-13 | 3890.50 | 3695.50 |
| Jun-13 | 4185.87 | 3987.20 |
| Sep-13 | 4227.52 | 3841.60 |
| Dec-13 | 4160.81 | 3990.40 |
| Mar-14 | 4742.00 | |
| Jun-14 | 5917.10 |
| X Values | Investment in houses | House building approvals advanced 3 months |
|---|---|---|
| Mar-94 | 5354.17 | 5514.40 |
| Jun-94 | 5759.05 | 5807.00 |
| Sep-94 | 5941.79 | 6165.70 |
| Dec-94 | 5776.13 | 5955.30 |
| Mar-95 | 5435.40 | 5600.70 |
| Jun-95 | 4939.57 | 4972.40 |
| Sep-95 | 5068.00 | 4532.50 |
| Dec-95 | 4543.24 | 4279.60 |
| Mar-96 | 4427.72 | 4120.00 |
| Jun-96 | 4267.05 | 4152.00 |
| Sep-96 | 4288.75 | 4138.10 |
| Dec-96 | 4590.34 | 4397.30 |
| Mar-97 | 4767.87 | 4465.60 |
| Jun-97 | 5047.63 | 4701.20 |
| Sep-97 | 5404.63 | 5136.70 |
| Dec-97 | 5777.84 | 5314.70 |
| Mar-98 | 5818.09 | 5449.40 |
| Jun-98 | 5828.32 | 5707.50 |
| Sep-98 | 5907.97 | 5934.60 |
| Dec-98 | 5926.68 | 5700.80 |
| Mar-99 | 6009.35 | 5597.30 |
| Jun-99 | 6174.51 | 5863.80 |
| Sep-99 | 6134.82 | 6219.10 |
| Dec-99 | 6457.09 | 6787.30 |
| Mar-00 | 7252.22 | 7455.60 |
| Jun-00 | 7873.10 | 7624.30 |
| Sep-00 | 5911.91 | 5477.30 |
| Dec-00 | 4812.90 | 3692.70 |
| Mar-01 | 4711.97 | 3981.20 |
| Jun-01 | 4887.42 | 4279.70 |
| Sep-01 | 5594.54 | 5128.30 |
| Dec-01 | 6082.81 | 6388.30 |
| Mar-02 | 6440.62 | 6542.40 |
| Jun-02 | 7120.82 | 6809.90 |
| Sep-02 | 6990.73 | 6742.10 |
| Dec-02 | 7139.72 | 6899.80 |
| Mar-03 | 7099.67 | 6542.80 |
| Jun-03 | 6578.64 | 6556.20 |
| Sep-03 | 6729.18 | 6967.00 |
| Dec-03 | 7157.42 | 7218.30 |
| Mar-04 | 7448.20 | 7522.60 |
| Jun-04 | 7316.03 | 7328.80 |
| Sep-04 | 7253.95 | 7016.00 |
| Dec-04 | 7131.88 | 6698.30 |
| Mar-05 | 6963.54 | 6529.00 |
| Jun-05 | 7287.69 | 6616.90 |
| Sep-05 | 7410.80 | 6866.00 |
| Dec-05 | 7110.91 | 6467.30 |
| Mar-06 | 7003.28 | 6471.40 |
| Jun-06 | 7167.39 | 6882.90 |
| Sep-06 | 7030.75 | 6836.20 |
| Dec-06 | 7109.69 | 7088.60 |
| Mar-07 | 7732.90 | 6958.80 |
| Jun-07 | 7407.35 | 7052.70 |
| Sep-07 | 7280.04 | 7175.80 |
| Dec-07 | 7387.54 | 7374.90 |
| Mar-08 | 7719.47 | 7685.10 |
| Jun-08 | 7676.90 | 7526.90 |
| Sep-08 | 7559.12 | 7173.00 |
| Dec-08 | 7508.57 | 6719.70 |
| Mar-09 | 7093.84 | 6112.70 |
| Jun-09 | 6980.02 | 5879.70 |
| Sep-09 | 7425.46 | 6574.40 |
| Dec-09 | 7511.12 | 7237.10 |
| Mar-10 | 7388.36 | 7837.20 |
| Jun-10 | 7876.69 | 7871.70 |
| Sep-10 | 7727.44 | 7610.40 |
| Dec-10 | 7409.42 | 7179.10 |
| Mar-11 | 7320.59 | 7009.70 |
| Jun-11 | 7467.14 | 6758.10 |
| Sep-11 | 7087.22 | 6552.80 |
| Dec-11 | 6877.40 | 6356.40 |
| Mar-12 | 6881.06 | 6082.60 |
| Jun-12 | 6677.29 | 6331.80 |
| Sep-12 | 6890.73 | 5949.00 |
| Dec-12 | 7149.56 | 6119.90 |
| Mar-13 | 7093.56 | 6163.80 |
| Jun-13 | 6831.58 | 6218.60 |
| Sep-13 | 6831.35 | 6315.30 |
| Dec-13 | 6886.90 | 6590.90 |
| Mar-14 | 6725.40 |
Note: Treasury’s major resources projects profile is the sum of spending on existing and planned resources projects greater than $2 billion, weighted by their probability of going ahead.
Source: Treasury.
This chart shows the evolution of Treasury’s major project profile which is the sum of investment in existing and planned resource projects greater than AUD2 billion, weighted by the probability of going ahead. Over the period 2010-11 to 2016-17, spending on major projects is divided into LNG, Iron ore and Coal, and other.
| X Values | LNG | Iron ore and Coal | Other |
|---|---|---|---|
| 2010-11 | 15.89 | 9.05 | 5.41 |
| 2011-12 | 28.77 | 19.70 | 6.24 |
| 2012-13 | 42.02 | 23.76 | 2.10 |
| 2013-14 | 52.80 | 11.93 | 1.43 |
| 2014-15 | 41.41 | 7.44 | 0.92 |
| 2015-16 | 22.22 | 2.94 | 0.46 |
| 2016-17 | 9.68 | 2.09 | 0.00 |
Source: ABS cat. no. 5204.0, 5206.0 and Treasury.
This chart shows contribution by sector to growth in business investment from 1987-88 to 2015-16. Contributions are shown for new business investment, non-resource investment and resources investment.
| X Values | Resources investment | Non-resources investment | Total business investment |
|---|---|---|---|
| 1987-88 | 0.55 | 14.67 | 15.22 |
| 1988-89 | -0.01 | 11.50 | 11.49 |
| 1989-90 | -0.56 | 2.03 | 1.47 |
| 1990-91 | 0.71 | -14.24 | -13.53 |
| 1991-92 | -1.26 | -8.51 | -9.77 |
| 1992-93 | 5.69 | 1.54 | 7.23 |
| 1993-94 | 0.13 | 6.73 | 6.86 |
| 1994-95 | 3.05 | 16.23 | 19.28 |
| 1995-96 | 3.16 | 7.94 | 11.10 |
| 1996-97 | 2.80 | 6.98 | 9.78 |
| 1997-98 | 4.30 | 5.03 | 9.34 |
| 1998-99 | -3.69 | 7.92 | 4.23 |
| 1999-00 | -5.42 | 12.40 | 6.98 |
| 2000-01 | -1.50 | 0.42 | -1.07 |
| 2001-02 | 1.98 | 3.94 | 5.92 |
| 2002-03 | 3.03 | 12.67 | 15.70 |
| 2003-04 | 1.64 | 11.23 | 12.87 |
| 2004-05 | 1.41 | 9.67 | 11.07 |
| 2005-06 | 8.15 | 7.50 | 15.65 |
| 2006-07 | 3.50 | 4.29 | 7.79 |
| 2007-08 | 5.09 | 7.71 | 12.81 |
| 2008-09 | 4.35 | -0.68 | 3.68 |
| 2009-10 | -0.43 | -3.88 | -4.31 |
| 2010-11 | 5.92 | 2.68 | 8.61 |
| 2011-12 | 17.17 | 4.96 | 22.13 |
| 2012-13 | 4.95 | 1.17 | 6.12 |
| 2013-14 | -2.58 | -1.32 | -3.90 |
| 2014-15 | -5.76 | 0.48 | -5.28 |
| 2015-16 | -8.39 | 4.70 | -3.69 |
Source: Based on ABS data and Treasury. Export prices differ from the more-widely quoted spot prices. Export prices reflect the actual price foreigners pay for our exports and reflect the quality of the resource being provided (such as the iron ore content), long-term contracts and exchange rate movements.
Two charts are shown side-by-side. The first shows historical and forecast metallurgical coal and thermal coal unit export prices over the period of June 1998 to June 2016. The second shows the historical and forecast iron ore unit export price over the period June 1998 to June 2016.
| X Values | Metallurgical coal | Thermal coal |
|---|---|---|
| Sep-97 | 63.69 | 46.20 |
| Dec-97 | 68.59 | 48.02 |
| Mar-98 | 70.51 | 48.97 |
| Jun-98 | 70.68 | 49.83 |
| Sep-98 | 70.89 | 48.38 |
| Dec-98 | 67.26 | 44.90 |
| Mar-99 | 64.27 | 44.09 |
| Jun-99 | 54.49 | 41.40 |
| Sep-99 | 52.31 | 40.02 |
| Dec-99 | 52.67 | 38.26 |
| Mar-00 | 53.28 | 38.41 |
| Jun-00 | 54.99 | 40.52 |
| Sep-00 | 56.33 | 42.62 |
| Dec-00 | 61.60 | 45.92 |
| Mar-01 | 61.52 | 47.50 |
| Jun-01 | 70.17 | 55.39 |
| Sep-01 | 76.26 | 59.58 |
| Dec-01 | 77.79 | 60.10 |
| Mar-02 | 76.87 | 57.38 |
| Jun-02 | 72.12 | 53.53 |
| Sep-02 | 73.15 | 50.12 |
| Dec-02 | 73.07 | 45.86 |
| Mar-03 | 68.13 | 42.98 |
| Jun-03 | 62.16 | 39.10 |
| Sep-03 | 59.19 | 38.11 |
| Dec-03 | 53.74 | 35.67 |
| Mar-04 | 51.53 | 38.29 |
| Jun-04 | 66.68 | 51.50 |
| Sep-04 | 73.55 | 57.33 |
| Dec-04 | 74.07 | 58.12 |
| Mar-05 | 74.21 | 59.55 |
| Jun-05 | 118.94 | 63.41 |
| Sep-05 | 136.29 | 66.64 |
| Dec-05 | 146.24 | 66.85 |
| Mar-06 | 144.46 | 64.00 |
| Jun-06 | 135.30 | 62.96 |
| Sep-06 | 122.98 | 62.16 |
| Dec-06 | 117.59 | 60.24 |
| Mar-07 | 114.27 | 60.06 |
| Jun-07 | 101.00 | 59.94 |
| Sep-07 | 98.43 | 62.56 |
| Dec-07 | 94.28 | 64.61 |
| Mar-08 | 100.20 | 73.60 |
| Jun-08 | 179.86 | 95.00 |
| Sep-08 | 287.45 | 117.00 |
| Dec-08 | 388.84 | 162.80 |
| Mar-09 | 322.25 | 144.15 |
| Jun-09 | 187.49 | 98.68 |
| Sep-09 | 147.20 | 90.58 |
| Dec-09 | 135.61 | 80.82 |
| Mar-10 | 138.28 | 83.58 |
| Jun-10 | 194.45 | 96.30 |
| Sep-10 | 213.61 | 98.47 |
| Dec-10 | 189.92 | 91.60 |
| Mar-11 | 196.24 | 98.88 |
| Jun-11 | 245.50 | 99.36 |
| Sep-11 | 250.05 | 106.93 |
| Dec-11 | 234.18 | 113.23 |
| Mar-12 | 192.69 | 107.93 |
| Jun-12 | 185.40 | 103.44 |
| Sep-12 | 170.24 | 94.71 |
| Dec-12 | 135.34 | 89.12 |
| Mar-13 | 138.52 | 85.98 |
| Jun-13 | 142.42 | 86.90 |
| Sep-13 | 135.57 | 90.00 |
| Dec-13 | 137.09 | 86.21 |
| Mar-14 | 129.47 | 90.91 |
| Jun-14 | 117.19 | 83.04 |
| Sep-14 | 122.26 | 81.24 |
| Dec-14 | 126.11 | 79.74 |
| Mar-15 | 126.60 | 79.74 |
| Jun-15 | 126.60 | 79.74 |
| Sep-15 | 128.59 | 79.74 |
| Dec-15 | 130.94 | 79.74 |
| Mar-16 | 131.29 | 79.74 |
| Jun-16 | 131.29 | 79.74 |
| X Values | Iron ores & concentrates |
|---|---|
| Sep-97 | 24.18 |
| Dec-97 | 26.46 |
| Mar-98 | 27.08 |
| Jun-98 | 29.42 |
| Sep-98 | 30.48 |
| Dec-98 | 29.91 |
| Mar-99 | 28.73 |
| Jun-99 | 24.66 |
| Sep-99 | 24.71 |
| Dec-99 | 24.69 |
| Mar-00 | 24.63 |
| Jun-00 | 27.59 |
| Sep-00 | 27.98 |
| Dec-00 | 31.83 |
| Mar-01 | 31.53 |
| Jun-01 | 33.88 |
| Sep-01 | 33.80 |
| Dec-01 | 34.46 |
| Mar-02 | 32.90 |
| Jun-02 | 31.16 |
| Sep-02 | 31.23 |
| Dec-02 | 30.52 |
| Mar-03 | 28.58 |
| Jun-03 | 27.55 |
| Sep-03 | 27.01 |
| Dec-03 | 25.67 |
| Mar-04 | 24.49 |
| Jun-04 | 31.08 |
| Sep-04 | 31.17 |
| Dec-04 | 30.08 |
| Mar-05 | 30.55 |
| Jun-05 | 49.41 |
| Sep-05 | 50.29 |
| Dec-05 | 52.88 |
| Mar-06 | 53.86 |
| Jun-06 | 58.16 |
| Sep-06 | 60.22 |
| Dec-06 | 59.76 |
| Mar-07 | 59.92 |
| Jun-07 | 61.38 |
| Sep-07 | 59.89 |
| Dec-07 | 62.33 |
| Mar-08 | 67.48 |
| Jun-08 | 87.08 |
| Sep-08 | 109.05 |
| Dec-08 | 126.56 |
| Mar-09 | 113.48 |
| Jun-09 | 79.75 |
| Sep-09 | 73.07 |
| Dec-09 | 71.29 |
| Mar-10 | 73.39 |
| Jun-10 | 132.27 |
| Sep-10 | 143.69 |
| Dec-10 | 131.21 |
| Mar-11 | 143.80 |
| Jun-11 | 153.41 |
| Sep-11 | 152.03 |
| Dec-11 | 136.13 |
| Mar-12 | 118.63 |
| Jun-12 | 126.00 |
| Sep-12 | 102.58 |
| Dec-12 | 98.76 |
| Mar-13 | 115.95 |
| Jun-13 | 115.89 |
| Sep-13 | 122.07 |
| Dec-13 | 127.29 |
| Mar-14 | 113.70 |
| Jun-14 | 102.79 |
| Sep-14 | 96.99 |
| Dec-14 | 95.04 |
| Mar-15 | 93.57 |
| Jun-15 | 92.13 |
| Sep-15 | 90.87 |
| Dec-15 | 89.62 |
| Mar-16 | 88.36 |
| Jun-16 | 87.11 |
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows the historical and forecast level of Australia’s terms of trade over the period June 1996 to June 2016.
| X Values | Terms of trade |
|---|---|
| Jun-96 | 52.17 |
| Sep-96 | 52.30 |
| Dec-96 | 52.41 |
| Mar-97 | 52.52 |
| Jun-97 | 52.95 |
| Sep-97 | 52.92 |
| Dec-97 | 52.61 |
| Mar-98 | 51.74 |
| Jun-98 | 51.55 |
| Sep-98 | 49.91 |
| Dec-98 | 49.35 |
| Mar-99 | 49.89 |
| Jun-99 | 49.62 |
| Sep-99 | 50.30 |
| Dec-99 | 51.24 |
| Mar-00 | 52.91 |
| Jun-00 | 52.04 |
| Sep-00 | 52.77 |
| Dec-00 | 52.49 |
| Mar-01 | 52.51 |
| Jun-01 | 52.25 |
| Sep-01 | 52.95 |
| Dec-01 | 52.81 |
| Mar-02 | 53.95 |
| Jun-02 | 53.33 |
| Sep-02 | 53.48 |
| Dec-02 | 53.92 |
| Mar-03 | 54.43 |
| Jun-03 | 54.59 |
| Sep-03 | 55.68 |
| Dec-03 | 56.85 |
| Mar-04 | 58.96 |
| Jun-04 | 60.64 |
| Sep-04 | 61.22 |
| Dec-04 | 61.92 |
| Mar-05 | 63.69 |
| Jun-05 | 67.91 |
| Sep-05 | 68.61 |
| Dec-05 | 69.95 |
| Mar-06 | 71.08 |
| Jun-06 | 72.44 |
| Sep-06 | 73.32 |
| Dec-06 | 75.08 |
| Mar-07 | 76.62 |
| Jun-07 | 77.12 |
| Sep-07 | 76.43 |
| Dec-07 | 77.42 |
| Mar-08 | 78.76 |
| Jun-08 | 86.76 |
| Sep-08 | 92.18 |
| Dec-08 | 90.29 |
| Mar-09 | 84.14 |
| Jun-09 | 77.07 |
| Sep-09 | 75.49 |
| Dec-09 | 78.28 |
| Mar-10 | 82.23 |
| Jun-10 | 93.45 |
| Sep-10 | 94.51 |
| Dec-10 | 96.59 |
| Mar-11 | 101.38 |
| Jun-11 | 105.34 |
| Sep-11 | 106.33 |
| Dec-11 | 101.27 |
| Mar-12 | 96.42 |
| Jun-12 | 95.80 |
| Sep-12 | 90.69 |
| Dec-12 | 89.17 |
| Mar-13 | 90.40 |
| Jun-13 | 90.34 |
| Sep-13 | 87.52 |
| Dec-13 | 88.06 |
| Mar-14 | 84.08 |
| Jun-14 | 82.70 |
| Sep-14 | 80.95 |
| Dec-14 | 80.24 |
| Mar-15 | 79.48 |
| Jun-15 | 78.50 |
| Sep-15 | 78.70 |
| Dec-15 | 78.63 |
| Mar-16 | 78.36 |
| Jun-16 | 78.15 |
Source: ABS cat. no. 6202.0 and Treasury. Trend participation is derived from a disaggregated analysis of age and gender specific participation rates as outlined in Treasury Working Paper 2014-02.
This chart shows the actual or seasonally adjusted labour force participation rate from March 1978 to March 2013. Running through the participation rate is the trend labour force participation rate.
| X Values | Participation rate (Seasonally adjusted) | Participation rate (Trend) |
|---|---|---|
| Dec-78 | 60.80 | 60.97 |
| Mar-79 | 60.72 | 60.95 |
| Jun-79 | 60.65 | 60.93 |
| Sep-79 | 60.66 | 60.92 |
| Dec-79 | 60.99 | 60.91 |
| Mar-80 | 61.11 | 60.89 |
| Jun-80 | 61.38 | 60.88 |
| Sep-80 | 61.54 | 60.86 |
| Dec-80 | 61.28 | 60.85 |
| Mar-81 | 61.19 | 60.83 |
| Jun-81 | 61.12 | 60.81 |
| Sep-81 | 61.27 | 60.79 |
| Dec-81 | 60.93 | 60.77 |
| Mar-82 | 61.03 | 60.76 |
| Jun-82 | 60.79 | 60.74 |
| Sep-82 | 60.62 | 60.73 |
| Dec-82 | 60.88 | 60.72 |
| Mar-83 | 60.51 | 60.72 |
| Jun-83 | 60.38 | 60.73 |
| Sep-83 | 60.50 | 60.74 |
| Dec-83 | 60.40 | 60.76 |
| Mar-84 | 60.44 | 60.79 |
| Jun-84 | 60.71 | 60.84 |
| Sep-84 | 60.60 | 60.89 |
| Dec-84 | 60.45 | 60.95 |
| Mar-85 | 60.61 | 61.02 |
| Jun-85 | 60.62 | 61.10 |
| Sep-85 | 60.94 | 61.19 |
| Dec-85 | 61.17 | 61.28 |
| Mar-86 | 61.60 | 61.38 |
| Jun-86 | 61.98 | 61.49 |
| Sep-86 | 61.99 | 61.60 |
| Dec-86 | 62.00 | 61.71 |
| Mar-87 | 61.99 | 61.82 |
| Jun-87 | 61.95 | 61.93 |
| Sep-87 | 61.99 | 62.04 |
| Dec-87 | 61.90 | 62.15 |
| Mar-88 | 62.37 | 62.26 |
| Jun-88 | 62.47 | 62.36 |
| Sep-88 | 62.21 | 62.46 |
| Dec-88 | 62.43 | 62.55 |
| Mar-89 | 62.77 | 62.64 |
| Jun-89 | 63.09 | 62.72 |
| Sep-89 | 63.32 | 62.79 |
| Dec-89 | 63.41 | 62.85 |
| Mar-90 | 63.52 | 62.90 |
| Jun-90 | 63.81 | 62.95 |
| Sep-90 | 63.95 | 62.98 |
| Dec-90 | 63.75 | 63.00 |
| Mar-91 | 63.42 | 63.02 |
| Jun-91 | 63.40 | 63.02 |
| Sep-91 | 62.93 | 63.03 |
| Dec-91 | 62.82 | 63.03 |
| Mar-92 | 62.95 | 63.02 |
| Jun-92 | 62.84 | 63.02 |
| Sep-92 | 62.99 | 63.02 |
| Dec-92 | 62.70 | 63.02 |
| Mar-93 | 62.45 | 63.02 |
| Jun-93 | 62.26 | 63.02 |
| Sep-93 | 62.36 | 63.03 |
| Dec-93 | 62.88 | 63.04 |
| Mar-94 | 62.81 | 63.05 |
| Jun-94 | 62.76 | 63.07 |
| Sep-94 | 63.09 | 63.09 |
| Dec-94 | 63.05 | 63.10 |
| Mar-95 | 63.26 | 63.12 |
| Jun-95 | 63.52 | 63.13 |
| Sep-95 | 63.62 | 63.14 |
| Dec-95 | 63.76 | 63.14 |
| Mar-96 | 63.64 | 63.15 |
| Jun-96 | 63.62 | 63.14 |
| Sep-96 | 63.59 | 63.14 |
| Dec-96 | 63.40 | 63.13 |
| Mar-97 | 63.37 | 63.11 |
| Jun-97 | 63.08 | 63.10 |
| Sep-97 | 62.95 | 63.08 |
| Dec-97 | 63.05 | 63.07 |
| Mar-98 | 62.93 | 63.05 |
| Jun-98 | 62.99 | 63.04 |
| Sep-98 | 63.13 | 63.03 |
| Dec-98 | 62.93 | 63.02 |
| Mar-99 | 62.71 | 63.01 |
| Jun-99 | 62.61 | 63.01 |
| Sep-99 | 62.75 | 63.02 |
| Dec-99 | 62.96 | 63.02 |
| Mar-00 | 62.91 | 63.03 |
| Jun-00 | 63.16 | 63.05 |
| Sep-00 | 63.44 | 63.07 |
| Dec-00 | 63.03 | 63.09 |
| Mar-01 | 62.97 | 63.12 |
| Jun-01 | 63.48 | 63.15 |
| Sep-01 | 63.41 | 63.19 |
| Dec-01 | 63.43 | 63.23 |
| Mar-02 | 63.34 | 63.27 |
| Jun-02 | 63.17 | 63.32 |
| Sep-02 | 63.35 | 63.37 |
| Dec-02 | 63.58 | 63.43 |
| Mar-03 | 63.88 | 63.49 |
| Jun-03 | 63.57 | 63.55 |
| Sep-03 | 63.42 | 63.62 |
| Dec-03 | 63.48 | 63.69 |
| Mar-04 | 63.28 | 63.77 |
| Jun-04 | 63.39 | 63.85 |
| Sep-04 | 63.43 | 63.93 |
| Dec-04 | 63.72 | 64.02 |
| Mar-05 | 64.10 | 64.12 |
| Jun-05 | 64.44 | 64.21 |
| Sep-05 | 64.55 | 64.31 |
| Dec-05 | 64.51 | 64.41 |
| Mar-06 | 64.46 | 64.50 |
| Jun-06 | 64.67 | 64.60 |
| Sep-06 | 64.98 | 64.69 |
| Dec-06 | 64.87 | 64.78 |
| Mar-07 | 64.95 | 64.86 |
| Jun-07 | 65.09 | 64.94 |
| Sep-07 | 65.24 | 65.01 |
| Dec-07 | 65.42 | 65.08 |
| Mar-08 | 65.43 | 65.14 |
| Jun-08 | 65.56 | 65.19 |
| Sep-08 | 65.52 | 65.23 |
| Dec-08 | 65.42 | 65.27 |
| Mar-09 | 65.63 | 65.30 |
| Jun-09 | 65.52 | 65.32 |
| Sep-09 | 65.31 | 65.34 |
| Dec-09 | 65.28 | 65.35 |
| Mar-10 | 65.26 | 65.36 |
| Jun-10 | 65.19 | 65.36 |
| Sep-10 | 65.41 | 65.35 |
| Dec-10 | 65.69 | 65.34 |
| Mar-11 | 65.55 | 65.33 |
| Jun-11 | 65.33 | 65.31 |
| Sep-11 | 65.45 | 65.31 |
| Dec-11 | 65.30 | 65.30 |
| Mar-12 | 65.22 | 65.30 |
| Jun-12 | 65.18 | 65.30 |
| Sep-12 | 65.12 | 65.30 |
| Dec-12 | 65.06 | 65.29 |
| Mar-13 | 65.14 | 65.28 |
| Jun-13 | 65.10 | 65.26 |
| Sep-13 | 64.87 | 65.26 |
| Dec-13 | 64.67 | 65.26 |
| Mar-14 | 64.75 | 65.26 |
Source ABS cat. no. 6202.0 and Treasury.
This chart shows the labour force participation rate and the unemployment rate from June 2006 to June 2016. The chart shows that the participation rate is expected to decline and that the unemployment rate is forecast to increase over the forecast period.
| X Values | Participation rate | Unemployment rate |
|---|---|---|
| Jun-06 | 64.67 | 4.84 |
| Sep-06 | 64.98 | 4.69 |
| Dec-06 | 64.87 | 4.54 |
| Mar-07 | 64.95 | 4.54 |
| Jun-07 | 65.09 | 4.31 |
| Sep-07 | 65.24 | 4.28 |
| Dec-07 | 65.42 | 4.37 |
| Mar-08 | 65.43 | 4.08 |
| Jun-08 | 65.56 | 4.24 |
| Sep-08 | 65.52 | 4.21 |
| Dec-08 | 65.42 | 4.45 |
| Mar-09 | 65.63 | 5.30 |
| Jun-09 | 65.52 | 5.70 |
| Sep-09 | 65.31 | 5.71 |
| Dec-09 | 65.28 | 5.56 |
| Mar-10 | 65.26 | 5.33 |
| Jun-10 | 65.19 | 5.27 |
| Sep-10 | 65.41 | 5.14 |
| Dec-10 | 65.69 | 5.08 |
| Mar-11 | 65.55 | 4.98 |
| Jun-11 | 65.33 | 4.95 |
| Sep-11 | 65.45 | 5.21 |
| Dec-11 | 65.30 | 5.19 |
| Mar-12 | 65.22 | 5.15 |
| Jun-12 | 65.18 | 5.11 |
| Sep-12 | 65.12 | 5.28 |
| Dec-12 | 65.06 | 5.35 |
| Mar-13 | 65.14 | 5.48 |
| Jun-13 | 65.10 | 5.61 |
| Sep-13 | 64.87 | 5.73 |
| Dec-13 | 64.67 | 5.81 |
| Mar-14 | 64.75 | 5.95 |
| Jun-14 | 64.75 | 6.00 |
| Sep-14 | ||
| Dec-14 | ||
| Mar-15 | ||
| Jun-15 | 64.50 | 6.25 |
| Sep-15 | ||
| Dec-15 | ||
| Mar-16 | ||
| Jun-16 | 64.50 | 6.25 |
| Sep-16 | ||
| Dec-16 | ||
| Mar-17 | ||
| Jun-17 | 64.75 | 5.75 |
| Sep-17 | ||
| Dec-17 | ||
| Mar-18 | ||
| Jun-18 | 64.75 | 5.75 |
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows annual nominal GDP growth for the Australian economy from 1994-95 to 2015-16, along with the 20 year average annual growth rate. It shows that nominal GDP growth is expected to remain below its 20 year average over the forecast period.
| X Values | Nominal GDP | 20-year average |
|---|---|---|
| 1994-95 | 6.27 | 6.36 |
| 1995-96 | 6.73 | 6.36 |
| 1996-97 | 5.22 | 6.36 |
| 1997-98 | 5.77 | 6.36 |
| 1998-99 | 5.35 | 6.36 |
| 1999-00 | 6.54 | 6.36 |
| 2000-01 | 6.72 | 6.36 |
| 2001-02 | 6.84 | 6.36 |
| 2002-03 | 6.29 | 6.36 |
| 2003-04 | 7.58 | 6.36 |
| 2004-05 | 7.05 | 6.36 |
| 2005-06 | 8.19 | 6.36 |
| 2006-07 | 8.94 | 6.36 |
| 2007-08 | 8.40 | 6.36 |
| 2008-09 | 6.76 | 6.36 |
| 2009-10 | 2.99 | 6.36 |
| 2010-11 | 8.51 | 6.36 |
| 2011-12 | 5.64 | 6.36 |
| 2012-13 | 2.48 | 6.36 |
| 2013-14 | 4.00 | |
| 2014-15 | 3.00 | |
| 2015-16 | 4.75 |
Source: Treasury.
This chart plots projections of the output and unemployment gaps from June 1980 to June 2025. The chart shows the gaps closing from June 2016 to June 2021.
| X Values | GDP cycle (LHS) | Unemployment rate cycle (RHS - Inverted) |
|---|---|---|
| Jun-80 | 0.07 | 0.19 |
| Sep-80 | -0.10 | 0.05 |
| Dec-80 | 0.87 | -0.16 |
| Mar-81 | 0.46 | -0.39 |
| Jun-81 | 1.16 | -0.63 |
| Sep-81 | 2.42 | -0.28 |
| Dec-81 | 1.20 | -0.18 |
| Mar-82 | -0.45 | 0.10 |
| Jun-82 | -0.42 | 0.51 |
| Sep-82 | -1.90 | 1.11 |
| Dec-82 | -4.40 | 2.91 |
| Mar-83 | -6.22 | 3.88 |
| Jun-83 | -7.32 | 4.57 |
| Sep-83 | -5.22 | 4.67 |
| Dec-83 | -4.78 | 4.14 |
| Mar-84 | -3.38 | 3.84 |
| Jun-84 | -3.33 | 3.60 |
| Sep-84 | -3.47 | 3.26 |
| Dec-84 | -3.27 | 3.18 |
| Mar-85 | -2.79 | 3.15 |
| Jun-85 | -1.55 | 3.07 |
| Sep-85 | -1.40 | 2.74 |
| Dec-85 | -2.25 | 2.45 |
| Mar-86 | -2.57 | 2.48 |
| Jun-86 | -3.53 | 2.31 |
| Sep-86 | -4.04 | 2.71 |
| Dec-86 | -3.47 | 2.79 |
| Mar-87 | -3.36 | 2.72 |
| Jun-87 | -2.57 | 2.55 |
| Sep-87 | -1.72 | 2.32 |
| Dec-87 | -0.77 | 2.17 |
| Mar-88 | -0.97 | 1.70 |
| Jun-88 | -1.26 | 1.65 |
| Sep-88 | -1.11 | 0.94 |
| Dec-88 | -0.69 | 0.67 |
| Mar-89 | -0.33 | 0.47 |
| Jun-89 | 0.89 | 0.03 |
| Sep-89 | 1.08 | -0.14 |
| Dec-89 | 0.58 | -0.29 |
| Mar-90 | 0.72 | 0.07 |
| Jun-90 | 0.31 | 0.32 |
| Sep-90 | -1.15 | 1.02 |
| Dec-90 | -1.09 | 1.69 |
| Mar-91 | -3.32 | 2.49 |
| Jun-91 | -4.28 | 3.30 |
| Sep-91 | -4.72 | 3.54 |
| Dec-91 | -5.15 | 3.75 |
| Mar-92 | -4.88 | 3.89 |
| Jun-92 | -4.95 | 4.08 |
| Sep-92 | -4.75 | 4.12 |
| Dec-92 | -3.74 | 4.38 |
| Mar-93 | -3.45 | 4.12 |
| Jun-93 | -3.62 | 4.05 |
| Sep-93 | -4.35 | 3.97 |
| Dec-93 | -3.24 | 3.86 |
| Mar-94 | -2.30 | 3.40 |
| Jun-94 | -2.05 | 2.83 |
| Sep-94 | -1.94 | 2.34 |
| Dec-94 | -2.28 | 1.82 |
| Mar-95 | -2.67 | 1.54 |
| Jun-95 | -2.71 | 1.15 |
| Sep-95 | -1.84 | 1.08 |
| Dec-95 | -2.25 | 1.09 |
| Mar-96 | -1.35 | 1.14 |
| Jun-96 | -1.90 | 1.17 |
| Sep-96 | -1.56 | 1.34 |
| Dec-96 | -1.65 | 1.40 |
| Mar-97 | -2.37 | 1.43 |
| Jun-97 | -0.52 | 1.35 |
| Sep-97 | -1.46 | 1.27 |
| Dec-97 | -0.81 | 0.94 |
| Mar-98 | -0.54 | 0.82 |
| Jun-98 | -0.67 | 0.72 |
| Sep-98 | 0.20 | 0.81 |
| Dec-98 | 0.86 | 0.45 |
| Mar-99 | 0.55 | 0.18 |
| Jun-99 | 0.30 | -0.01 |
| Sep-99 | 0.31 | 0.07 |
| Dec-99 | 1.16 | -0.18 |
| Mar-00 | 1.10 | -0.12 |
| Jun-00 | 0.99 | -0.48 |
| Sep-00 | 0.24 | -0.76 |
| Dec-00 | -0.95 | -0.55 |
| Mar-01 | -0.54 | -0.26 |
| Jun-01 | -0.53 | 0.26 |
| Sep-01 | -0.37 | 0.36 |
| Dec-01 | -0.07 | 0.52 |
| Mar-02 | -0.09 | 0.24 |
| Jun-02 | 0.60 | 0.03 |
| Sep-02 | 0.24 | -0.06 |
| Dec-02 | 0.20 | -0.18 |
| Mar-03 | -0.49 | -0.25 |
| Jun-03 | -0.30 | -0.25 |
| Sep-03 | 0.19 | -0.37 |
| Dec-03 | 1.20 | -0.54 |
| Mar-04 | 1.18 | -0.68 |
| Jun-04 | 0.98 | -0.74 |
| Sep-04 | 1.00 | -0.66 |
| Dec-04 | 1.05 | -0.96 |
| Mar-05 | 0.87 | -0.92 |
| Jun-05 | 0.74 | -0.90 |
| Sep-05 | 1.14 | -0.92 |
| Dec-05 | 1.04 | -0.79 |
| Mar-06 | 0.51 | -0.73 |
| Jun-06 | -0.05 | -0.84 |
| Sep-06 | 0.16 | -0.91 |
| Dec-06 | 0.98 | -1.01 |
| Mar-07 | 1.78 | -0.92 |
| Jun-07 | 1.73 | -1.09 |
| Sep-07 | 1.64 | -1.01 |
| Dec-07 | 1.44 | -0.83 |
| Mar-08 | 1.93 | -1.04 |
| Jun-08 | 1.43 | -0.81 |
| Sep-08 | 1.50 | -0.78 |
| Dec-08 | -0.12 | -0.55 |
| Mar-09 | 0.24 | 0.31 |
| Jun-09 | 0.03 | 0.62 |
| Sep-09 | -0.06 | 0.50 |
| Dec-09 | 0.15 | 0.24 |
| Mar-10 | 0.03 | -0.12 |
| Jun-10 | -0.04 | -0.29 |
| Sep-10 | -0.11 | -0.49 |
| Dec-10 | 0.20 | -0.57 |
| Mar-11 | -0.87 | -0.67 |
| Jun-11 | -0.42 | -0.60 |
| Sep-11 | 0.00 | -0.27 |
| Dec-11 | -0.05 | -0.21 |
| Mar-12 | 0.32 | -0.18 |
| Jun-12 | -0.02 | -0.13 |
| Sep-12 | -0.17 | 0.13 |
| Dec-12 | -0.60 | 0.25 |
| Mar-13 | -0.91 | 0.45 |
| Jun-13 | -0.87 | 0.62 |
| Sep-13 | -1.02 | 0.75 |
| Dec-13 | -1.00 | 0.83 |
| Mar-14 | -1.03 | 0.96 |
| Jun-14 | -1.49 | 0.90 |
| Sep-14 | -1.70 | 0.99 |
| Dec-14 | -1.92 | 1.04 |
| Mar-15 | -1.85 | 1.09 |
| Jun-15 | -1.83 | 1.14 |
| Sep-15 | -1.89 | 1.19 |
| Dec-15 | -1.91 | 1.23 |
| Mar-16 | -2.15 | 1.28 |
| Jun-16 | -2.29 | 1.32 |
| Sep-16 | -2.07 | 1.19 |
| Dec-16 | -1.85 | 1.03 |
| Mar-17 | -1.63 | 0.87 |
| Jun-17 | -1.43 | 0.72 |
| Sep-17 | -1.42 | 0.68 |
| Dec-17 | -1.42 | 0.66 |
| Mar-18 | -1.42 | 0.65 |
| Jun-18 | -1.40 | 0.64 |
| Sep-18 | -1.27 | 0.58 |
| Dec-18 | -1.14 | 0.51 |
| Mar-19 | -1.01 | 0.43 |
| Jun-19 | -0.88 | 0.35 |
| Sep-19 | -0.80 | 0.30 |
| Dec-19 | -0.72 | 0.25 |
| Mar-20 | -0.63 | 0.21 |
| Jun-20 | -0.54 | 0.16 |
| Sep-20 | -0.41 | 0.09 |
| Dec-20 | -0.27 | 0.02 |
| Mar-21 | -0.14 | -0.05 |
| Jun-21 | 0.00 | 0.00 |
| Sep-21 | 0.00 | 0.00 |
| Dec-21 | 0.00 | 0.00 |
| Mar-22 | 0.00 | 0.00 |
| Jun-22 | 0.00 | 0.00 |
| Sep-22 | 0.00 | 0.00 |
| Dec-22 | 0.00 | 0.00 |
| Mar-23 | 0.00 | 0.00 |
| Jun-23 | 0.00 | 0.00 |
| Sep-23 | 0.00 | 0.00 |
| Dec-23 | 0.00 | 0.00 |
| Mar-24 | 0.00 | 0.00 |
| Jun-24 | 0.00 | 0.00 |
| Sep-24 | 0.00 | 0.00 |
| Dec-24 | 0.00 | 0.00 |
| Mar-25 | 0.00 | 0.00 |
| Jun-25 | 0.00 | 0.00 |
Note: Outcome is as published in the December quarter 2013 National Accounts. Forecast is that published in the Budget for that year.
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows the Budget year forecasts for real GDP growth and the latest published outcome from 1991-92 to 2012-13.
| X Values | Budget forecast | Outcome |
|---|---|---|
| 1991-92 | 2.50 | 0.30 |
| 1992-93 | 4.75 | 4.10 |
| 1993-94 | 3.25 | 4.00 |
| 1994-95 | 4.50 | 3.70 |
| 1995-96 | 3.75 | 3.90 |
| 1996-97 | 3.25 | 3.90 |
| 1997-98 | 3.75 | 4.40 |
| 1998-99 | 3.00 | 5.00 |
| 1999-00 | 3.00 | 3.90 |
| 2000-01 | 3.75 | 1.90 |
| 2001-02 | 3.25 | 3.90 |
| 2002-03 | 3.75 | 3.10 |
| 2003-04 | 3.25 | 4.20 |
| 2004-05 | 3.50 | 3.20 |
| 2005-06 | 3.00 | 3.00 |
| 2006-07 | 3.25 | 3.80 |
| 2007-08 | 3.75 | 3.70 |
| 2008-09 | 2.75 | 1.70 |
| 2009-10 | -0.50 | 2.00 |
| 2010-11 | 3.25 | 2.20 |
| 2011-12 | 4.00 | 3.60 |
| 2012-13 | 3.25 | 2.60 |
Note: Outcome is as published in the December quarter 2013 National Accounts. Forecast is that published in the Budget for that year.
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows the Budget year forecasts for nominal GDP growth and the latest published outcome from 1991-92 to 2012-13.
| X Values | Budget forecast | Outcome |
|---|---|---|
| 1991-92 | 4.00 | 2.00 |
| 1992-93 | 5.75 | 4.90 |
| 1993-94 | 5.25 | 5.10 |
| 1994-95 | 6.75 | 6.30 |
| 1995-96 | 7.25 | 6.70 |
| 1996-97 | 5.75 | 5.20 |
| 1997-98 | 6.00 | 5.80 |
| 1998-99 | 6.25 | 5.40 |
| 1999-00 | 4.75 | 6.50 |
| 2000-01 | 6.50 | 6.70 |
| 2001-02 | 4.50 | 6.80 |
| 2002-03 | 5.75 | 6.30 |
| 2003-04 | 5.50 | 7.60 |
| 2004-05 | 6.00 | 7.00 |
| 2005-06 | 7.50 | 8.20 |
| 2006-07 | 5.50 | 8.90 |
| 2007-08 | 6.25 | 8.40 |
| 2008-09 | 9.25 | 6.80 |
| 2009-10 | -1.50 | 3.00 |
| 2010-11 | 8.50 | 8.50 |
| 2011-12 | 6.25 | 5.60 |
| 2012-13 | 5.00 | 2.50 |
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows the evolution of real GDP growth forecasts for 2012-13 from the 2011-12 Budget to the 2013-14 Budget. The chart shows that the latest published outcome for 2012-13 was lower than the forecasts.
| X Values | Real GDP forecast | Published outcome |
|---|---|---|
| Budget 11-12 | 3.75 | 2.60 |
| MYEFO 11-12 | 3.25 | 2.60 |
| Budget 12-13 | 3.25 | 2.60 |
| MYEFO 12-13 | 3.00 | 2.60 |
| Budget 13-14 | 3.00 | 2.60 |
Source: ABS cat. no. 5206.0 and Treasury.
This chart shows the evolution of nominal GDP growth forecasts for 2012-13 from the 2011-12 Budget to the 2013-14 Budget. The chart shows that the latest published outcome for 2012-13 was lower than the forecasts.
| X Values | Nominal GDP forecast | Published outcome |
|---|---|---|
| Budget 11-12 | 5.75 | 2.50 |
| MYEFO 11-12 | 5.00 | 2.50 |
| Budget 12-13 | 5.00 | 2.50 |
| MYEFO 12-13 | 4.00 | 2.50 |
| Budget 13-14 | 3.25 | 2.50 |
Note: Top and bottom lines represent range of Consensus Economics forecasts. Centre dotted line represents Consensus Economics mean forecast.
Consensus Economics forecasts for 2015 were published for the first time in January 2014. The 2013-14 MYEFO did not contain forecasts for the full 2015 calendar year.
Source: Consensus Economics, IMF and Treasury.
This chart shows the range of Consensus Economics forecasts for real GDP growth in calendar year 2014 (top and bottom lines), and the mean Consensus Economic forecast (centre line). Published forecasts from the IMF’s World Economic Outlook and the Treasury are also included.
| X Values | Consensus Economics - High forecast | Consensus Economics - Low forecast | Consensus Economics - Mean forecast | Treasury forecast | IMF World Economic Outlook forecast |
|---|---|---|---|---|---|
| Apr-13 | 3.80 | 2.00 | 3.00 | ||
| May-13 | 3.50 | 2.00 | 3.00 | ||
| Jun-13 | 3.50 | 1.90 | 2.80 | ||
| Jul-13 | 3.50 | 1.90 | 2.70 | ||
| Aug-13 | 3.50 | 1.90 | 2.60 | ||
| Sep-13 | 3.30 | 1.90 | 2.60 | ||
| Oct-13 | 3.30 | 2.00 | 2.60 | 2.80 | |
| Nov-13 | 3.30 | 2.00 | 2.70 | ||
| Dec-13 | 3.30 | 2.00 | 2.70 | 2.25 | |
| Jan-14 | 3.30 | 2.00 | 2.70 | ||
| Feb-14 | 3.20 | 2.00 | 2.70 | ||
| Mar-14 | 3.20 | 2.00 | 2.80 | ||
| Apr-14 | 3.20 | 2.00 | 2.80 | 2.50 | 2.60 |
Note: Top and bottom lines represent range of Consensus Economics forecasts. Centre dotted line represents Consensus Economics mean forecast.
Consensus Economics forecasts for 2015 were published for the first time in January 2014. The 2013-14 MYEFO did not contain forecasts for the full 2015 calendar year.
Source: Consensus Economics, IMF and Treasury.
This chart shows the range of Consensus Economic forecasts for real GDP growth in calendar year 2015 (top and bottom lines), and the mean Consensus Economics forecast (centre line. Published forecasts from the IMF’s World Economic Outlook and the Treasury are also included.
| X Values | Consensus Economics - High forecast | Consensus Economics - Low forecast | Consensus Economics - Mean forecast | Treasury forecast | IMF World Economic Outlook forecast |
|---|---|---|---|---|---|
| Jan-14 | 3.40 | 2.50 | 3.00 | ||
| Feb-14 | 3.40 | 2.30 | 3.00 | ||
| Mar-14 | 3.40 | 2.30 | 2.90 | ||
| Apr-14 | 3.20 | 2.40 | 2.90 | 3.00 | 2.70 |
Note: Top and bottom lines represent range of Consensus Economics forecasts. Centre line represents Consensus Economics mean forecast.
Consensus Economics forecasts for 2015 were published for the first time in January 2014. The 2013-14 MYEFO did not contain forecasts for the full 2015 calendar year.
Source: Consensus Economics, IMF and Treasury.
This chart shows the range of Consensus Economics forecasts for the unemployment rate in calendar year 2014 top and bottom lines), and the mean Consensus Economics forecast (centre line). Published forecasts from the IMF’s World Economic Outlook and the Treasury are also included.
| X Values | Consensus Economics - High forecast | Consensus Economics - Low forecast | Consensus Economics - Mean forecast | Treasury forecast | IMF World Economic Outlook forecast |
|---|---|---|---|---|---|
| Apr-13 | 6.50 | 5.10 | 5.60 | ||
| May-13 | 6.50 | 5.10 | 5.60 | ||
| Jun-13 | 6.30 | 5.10 | 5.60 | ||
| Jul-13 | 6.30 | 5.30 | 5.70 | ||
| Aug-13 | 6.40 | 5.40 | 5.90 | ||
| Sep-13 | 6.60 | 5.40 | 5.90 | ||
| Oct-13 | 6.50 | 5.50 | 6.00 | 6.00 | |
| Nov-13 | 6.50 | 5.50 | 5.90 | ||
| Dec-13 | 6.50 | 5.60 | 6.00 | 6.00 | |
| Jan-14 | 6.40 | 5.60 | 6.00 | ||
| Feb-14 | 6.30 | 5.60 | 6.00 | ||
| Mar-14 | 6.30 | 5.60 | 6.00 | ||
| Apr-14 | 6.30 | 5.80 | 6.10 | 6.00 | 6.20 |
Note: Top and bottom lines represent range of Consensus Economics forecasts. Centre line represents Consensus Economics mean forecast.
Consensus Economics forecasts for 2015 were published for the first time in January 2014. The 2013-14 MYEFO did not contain forecasts for the full 2015 calendar year.
Source: Consensus Economics, IMF and Treasury.
This chart shows the range of Consensus Economics forecasts for the unemployment rate in calendar year 2015 (top and bottom lines), and the mean Consensus Economic forecast (centre line). Published forecasts from the IMF’s World Economic Outlook and the Treasury are also included.
| X Values | Consensus Economics - High forecast | Consensus Economics - Low forecast | Consensus Economics - Mean forecast | Treasury forecast | IMF World Economic Outlook forecast |
|---|---|---|---|---|---|
| Jan-14 | 6.60 | 5.10 | 5.80 | ||
| Feb-14 | 6.50 | 5.10 | 5.80 | ||
| Mar-14 | 6.60 | 5.30 | 5.90 | ||
| Apr-14 | 6.50 | 5.60 | 5.90 | 6.25 | 6.20 |