The graph has four panels, showing Gross Domestic Product (GDP) growth for four major economic regions: English speaking countries (Australia, Canada, New Zealand, UK and US); Europe (euro-area 12); Japan; and, other east Asia. Each panel shows average annual GDP growth for the 1960s, the 1970s, the 1980s and the 1990s.
The graph shows that both Europe and Japan have witnessed a slowing in GDP
growth over this period, while that in the English speaking countries and east
Asia has been steadier. GDP growth in east Asia has also been consistently stronger
than in other regions of the world.
[End description.]
The graph shows the level of GDP, indexed at 1980=100, from 1980s onwards for
Australia, North America, the euro area, Japan and Other Asia. The graph shows
that Other Asia has grown at a much stronger pace than the other regions over
the entire period, except for a brief slowdown during the 1997/98 Asian crisis.
Other Asia GDP has increased more than four-fold since 1980, the Australian
economy has more than doubled, while North America, Japan and the euro area
have risen a little more slowly.
[End description.]
The graph shows the level of GDP, indexed at 1980=100, from 1980s onwards for
China, Korea, India, Japan and the United States. The graph shows that China's
GDP has risen eight-fold over this period, followed by Korea which has risen
by more than four-fold and India, which has risen roughly three-fold.
[End description.]
The graph shows an index calculated by dividing a world primary commodity price index by a world manufactured good price index. The graph shows data from 1854 to 1990.
This graph shows that the price of commodities relative to manufactures declined
between 1854 and 1990 at a trend rate of about 0.3 per cent per year. There
was a relatively steady decline in the price of commodities relative to manufactures
over the second half of the 1800s, followed by some very large swings in relative
prices over the first half of the 1900s, before they returned to decline over
the second half of the 1900s, despite a sharp spike in the first half of the
1970s. The fall in relative prices was particularly sharp between the mid 1970s
and mid 1980s.
[End description.]
This graph shows Australia's terms of trade (the implicit price deflator for
exports divided by the implicit price deflator for imports) from 1978 onwards.
It illustrates that Australia's terms of trade has risen significantly over
the past 15 years, despite some large swings during this period.
[End description.]
The graph shows an index of US real share prices between 1871 and 2003 on a log scale. There are also dotted lines connecting significant peaks and troughs in the series. The percentage change between these peaks and troughs is marked.
The graph illustrates that the US equity market tends to have long periods
of appreciating prices, followed by still quite long periods of falling prices.
In each episode shown, the real share price appreciation is greater than the
subsequent decline. Between 1982 and 2000, the US experienced an asset price
boom, with real share prices appreciating by 683 per cent. Since then, some
of this gain has been unwound.
[End description.]