Forecast Table – August 2019
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This table provides additional detail on forecasts of key macroeconomic variables as at the August 2019 Statement on Monetary Policy.
Jun 2019 | Dec 2019 | Jun 2020 | Dec 2020 | Jun 2021 | Dec 2021 | |
---|---|---|---|---|---|---|
Gross domestic product | 1.7 | 2.4 | 2.7 | 2.8 | 3.0 | 3.1 |
Household consumption | 1.3 | 1.5 | 2.1 | 2.4 | 2.6 | 2.7 |
Dwelling investment | −6.8 | −9.0 | −7.0 | −3.3 | 0.4 | 4.3 |
Business investment | 0.0 | 4.1 | 5.6 | 5.8 | 5.8 | 5.9 |
Public demand | 6.0 | 3.7 | 3.6 | 3.2 | 3.0 | 2.9 |
Gross national expenditure | 1.1 | 1.5 | 2.4 | 2.7 | 3.0 | 3.3 |
Imports | −1.1 | 0.6 | 2.0 | 3.0 | 3.4 | 3.5 |
Exports | 2.4 | 4.4 | 3.3 | 3.6 | 3.3 | 2.7 |
Real household disposable income | 1.0 | 2.5 | 2.5 | 2.5 | 2.6 | 2.7 |
Terms of trade | 8.8 | −1.5 | −10.3 | −7.5 | −4.5 | −2.8 |
Major trading partner (export-weighted) GDP | 3.6 | 3.7 | 3.7 | 3.8 | 3.8 | 3.8 |
Unemployment rate (quarterly, %) | 5.2 | 5.2 | 5.2 | 5.2 | 5.1 | 4.9 |
Employment | 2.6 | 2.2 | 1.8 | 1.9 | 1.9 | 1.9 |
Wage price index | 2.3 | 2.3 | 2.3 | 2.3 | 2.4 | 2.4 |
Nominal (non-farm) average earnings per hour | 2.0 | 1.9 | 2.4 | 2.4 | 2.6 | 2.6 |
Trimmed mean inflation | 1.6 | 1.6 | 1.8 | 1.9 | 2.0 | 2.1 |
Consumer price index | 1.6 | 1.7 | 1.7 | 1.9 | 2.0 | 2.1 |
Sources: ABS; CEIC Data; Refinitiv; RBA |