Description of Graphs for Speech by I.J. Macfarlane, Governor
‘Opening Statement to House of Representatives
Standing Committee on Economics, Finance
and Public Administration’
6 December 2002
Graph 1: US Indicators
This graph has three panels showing data for the United States from late 2001 to the latest observations available on 6 December 2002. The top panel shows consumer confidence. The centre panel shows business confidence. The lowest panel shows consensus Gross Domestic Product (GDP) growth forecasts. The consumer and business confidence measures are indexed to a base of 100 in October 2001. The growth forecasts are the median calendar year average GDP growth rate for 2002.
Consumer and business confidence improved over the first half of 2002, before deteriorating in the second half of the year. Similarly, Consensus GDP growth forecasts for 2002 increased over the first half of 2002, and were lowered in the second half.
[End description.]
Graph 2: European Indicators
This graph has three panels showing data for Europe from late 2001 to the latest observations available on 6 December 2002. The top panel shows consumer confidence. The centre panel shows business confidence. The lowest panel shows consensus GDP growth forecasts. The consumer and business confidence measures are indexed to a base of 100 in October 2001. The growth forecasts are the median calendar year average GDP growth rate for 2002.
Consumer and business confidence improved over the first half of 2002, before deteriorating in the second half of the year. Similarly, Consensus GDP growth forecasts for 2002 increased over the first half of 2002, and were lowered in the second half.
[End description.]