Forecast Table – November 2018
This table provides additional detail on forecasts of key macroeconomic variables as at the November 2018 Statement on Monetary Policy.
- Download the Forecast Table 122KB
| Jun 2018 | Dec 2018 | Jun 2019 | Dec 2019 | Jun 2020 | Dec 2020 | |
|---|---|---|---|---|---|---|
| Gross domestic product | 3.4 | 3.6 | 3.2 | 3.3 | 3.2 | 3.0 |
| Household consumption | 3.0 | 2.7 | 3.0 | 3.0 | 3.0 | 3.0 |
| Dwelling investment | 3.8 | 3.5 | -2.9 | -2.4 | -2.4 | -2.4 |
| Business investment | 4.1 | -0.7 | 0.1 | 3.8 | 5.2 | 5.2 |
| Public demand | 4.5 | 4.5 | 4.4 | 4.2 | 4.2 | 3.8 |
| Gross national expenditure | 4.0 | 2.6 | 2.4 | 3.1 | 3.2 | 3.2 |
| Imports | 6.2 | 0.9 | -0.6 | 1.9 | 2.8 | 3.4 |
| Exports | 3.7 | 5.6 | 3.0 | 3.1 | 2.8 | 2.6 |
| Real household disposable income | 1.6 | 1.6 | 2.9 | 3.0 | 3.0 | 2.9 |
| Terms of trade | 2.1 | 5.3 | -0.1 | -6.3 | -5.4 | -3.4 |
| Major trading partner (export-weighted) GDP | 4.3 | 4.1 | 4.0 | 3.8 | 3.7 | 3.9 |
| Unemployment rate (quarterly, %) | 5.4 | 5.1 | 5.1 | 5.0 | 4.9 | 4.8 |
| Employment | 2.7 | 2.2 | 2.2 | 2.1 | 2.1 | 2.1 |
| Wage price index | 2.1 | 2.3 | 2.4 | 2.5 | 2.6 | 2.6 |
| Nominal (non-farm) average earnings per hour | 2.1 | 2.2 | 2.5 | 2.8 | 3.0 | 3.0 |
| Trimmed mean inflation | 1.8 | 1.9 | 2.0 | 2.2 | 2.2 | 2.3 |
| Consumer price index | 2.1 | 2.0 | 2.0 | 2.3 | 2.3 | 2.4 |
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(a) Technical assumptions include TWI at 63, A$ at US$0.73, and Brent crude oil price at US$72 per barrel; shaded regions are historical data Sources: ABS; CEIC Data; Refinitiv; RBA |
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