Forecast Table – February 2019
- Download the Forecast Table 122KB
This table provides additional detail on forecasts of key macroeconomic variables as at the February 2019 Statement on Monetary Policy.
| Dec 2018 | Jun 2019 | Dec 2019 | Jun 2020 | Dec 2020 | Jun 2021 | |
|---|---|---|---|---|---|---|
| Gross domestic product | 2.8 | 2.4 | 3.0 | 2.7 | 2.7 | 2.7 |
| Household consumption | 2.1 | 2.2 | 2.5 | 2.6 | 2.7 | 2.7 |
| Dwelling investment | 5.9 | -1.7 | -4.5 | -5.6 | -5.3 | -3.2 |
| Business investment | -0.9 | 0.7 | 4.8 | 4.8 | 4.9 | 4.7 |
| Public demand | 4.2 | 4.1 | 3.9 | 4.1 | 3.8 | 3.4 |
| Gross national expenditure | 2.2 | 1.8 | 2.6 | 2.7 | 2.8 | 2.8 |
| Imports | 1.3 | -0.9 | 1.3 | 2.7 | 3.2 | 3.4 |
| Exports | 5.4 | 1.3 | 2.7 | 2.6 | 2.7 | 2.6 |
| Real household disposable income | 0.5 | 1.7 | 2.7 | 2.5 | 2.3 | 2.3 |
| Terms of trade | 5.6 | -0.6 | -7.8 | -6.4 | -3.8 | -2.1 |
| Major trading partner (export-weighted) GDP | 3.9 | 3.8 | 3.8 | 3.7 | 3.8 | 3.8 |
| Unemployment rate (quarterly, %) | 5.0 | 5.0 | 5.0 | 4.9 | 4.9 | 4.8 |
| Employment | 2.3 | 2.3 | 2.1 | 2.0 | 1.9 | 1.8 |
| Wage price index | 2.4 | 2.5 | 2.5 | 2.5 | 2.6 | 2.6 |
| Nominal (non-farm) average earnings per hour | 2.0 | 2.3 | 2.8 | 2.9 | 3.0 | 3.0 |
| Trimmed mean inflation | 1.8 | 1.8 | 2.0 | 2.1 | 2.1 | 2.2 |
| Consumer price index | 1.8 | 1.4 | 1.7 | 2.1 | 2.1 | 2.2 |
|
(a) Technical assumptions include TWI at 62, A$ at US$0.72, and Brent crude oil price at US$63 per barrel; shaded regions are historical data Sources: ABS; CEIC Data; Refinitiv; RBA |
||||||