This page has economic forecasts for Australia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Australia economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.90 0.6 0.7 0.7 0.8 0.8 percent
Unemployment Rate 5.00 5.2 5.3 5.1 5 5.3 percent
Inflation Rate 1.90 2.1 2.2 2.3 2.2 2.4 percent
Interest Rate 1.50 1.5 1.5 1.5 1.5 2 percent
Balance of Trade 3017.00 2000 3088 3099 3101 -500 AUD Million
Government Debt to GDP 41.90 42.5 41 41 41 38 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 0.72
0.71 0.71 0.7 0.7 0.68
Stock Market 5841.53
points
6121 6078 6035 5992 5823
Government Bond 10Y 2.73
percent
2.71 2.75 2.79 2.83 3
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.90
percent
0.6 0.7 0.7 0.8 0.8
GDP Annual Growth Rate 3.40
percent
3 2.7 2.5 2.4 2.4
GDP 1323.42
USD Billion
1450 1580 1580 1580 1720
GDP Constant Prices 441942.00
AUD Million
446186 449989 452991 452549 468317
Gross National Product 442164.00
AUD Million
444656 452438 453218 452776 466711
Gross Fixed Capital Formation 110021.00
AUD Million
112000 113000 113000 113000 117000
GDP per capita 55925.93
USD
56220 56890 56890 56890 57160
GDP per capita PPP 44648.71
USD
45100 45500 45500 45500 46000
GDP From Agriculture 10402.00
AUD Million
10699 10600 10662 10652 11229
GDP From Construction 33503.00
AUD Million
33840 33751 34341 34307 35518
GDP From Manufacturing 25521.00
AUD Million
26095 26621 26159 26134 27389
GDP From Mining 26745.00
AUD Million
26153 27048 27414 27387 27450
GDP From Public Administration 24245.00
AUD Million
24396 24742 24851 24827 25606
GDP From Utilities 10636.00
AUD Million
10778 10790 10902 10891 11313
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 5.00
percent
5.2 5.3 5.1 5 5.3
Employed Persons 12636.31
Thousand
12710 12820 12900 12893 13500
Unemployed Persons 665.75
Thousand
657 645 636 630 619
Part Time Employment -14698.00
Persons
7688 6824 7056 7029 6900
Full Time Employment 20300.00
Persons
15279 13510 13050 12930 12890
Employment Change 5600.00
Persons
17100 22489 22705 22683 15600
Labor Force Participation Rate 65.40
percent
65.6 65.8 65.7 65.47 66
Youth Unemployment Rate 11.40
percent
12 12.8 12.2 12.2 13
Productivity 101.80
Index Points
101 101 102 102 102
Labour Costs 100.60
Index Points
101 101 101 101 101
Job Vacancies 240.90
Thousand
243 243 241 239 237
Job Advertisements 175905.00
174886 174170 173664 173324 172668
Wages 1207.40
AUD/Week
1210 1230 1230 1230 1300
Wages In Manufacturing 1304.50
AUD/Week
1310 1350 1350 1338 1400
Wage Growth 2.10
percent
2.4 2.4 1.99 2 3.3
Minimum Wages 719.20
AUD/week
719 740 740 740 760
Population 24.70
Million
25.3 25.4 25.5 25.32 26
Retirement Age Women 65.50
65.5 65.5 65.5 65.5 66
Retirement Age Men 65.50
65.5 65.5 65.5 65.5 66
Living Wage Family 2790.00
AUD/Month
3500 3600 2822 2825 3600
Living Wage Individual 1770.00
AUD/Month
1781 1779 1778 1776 1777
Wages Low Skilled 2710.00
AUD/Month
2481 2506 2700 2703 2506
Wages High Skilled 6120.00
AUD/Month
6200 6200 6151 6144 6300
Employment Rate 62.20
percent
62.26 62.3 62.33 62.35 62.4
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.90
percent
2.1 2.2 2.3 2.2 2.4
Inflation Rate Mom 0.40
percent
0.4 0.4 0.5 0.44 1
Consumer Price Index CPI 113.50
Index Points
114 115 116 116 120
Core Consumer Prices 114.60
Index Points
115 116 116 117 120
Core Inflation Rate 1.80
percent
1.9 1.8 1.8 1.9 2.1
GDP Deflator 106.48
Index Points
107 107 108 108 111
Producer Prices 110.30
Index Points
111 111 111 113 115
Producer Prices Change 2.10
percent
1.9 1.7 1.8 2.12 1.9
Export Prices 100.10
Index Points
100 98.5 97.16 96.34 97.39
Import Prices 112.10
Index Points
112 111 111 110 107
Food Inflation 1.60
percent
1.5 1.4 1.5 1.3 2
Inflation Expectations 4.00
percent
3.9 4.1 4 3.86 3.9
CPI Housing Utilities 121.30
Index Points
122 123 124 124 128
CPI Transportation 106.30
Index Points
105 106 108 109 110
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 1.50
percent
1.5 1.5 1.5 1.5 2
Interbank Rate 2.49
percent
2.49 2.49 2.49 2.49 2.99
Money Supply M0 109.68
AUD Billion
110 110 110 110 110
Money Supply M1 357.10
AUD Billion
360 363 366 369 394
Money Supply M3 2092.84
AUD Billion
2109 2124 2139 2153 2271
Banks Balance Sheet 4278.05
AUD Billion
4075 4050 4060 4391 4100
Central Bank Balance Sheet 164291.00
AUD Million
163198 163143 163144 163144 163144
Foreign Exchange Reserves 64038.00
AUD Million
66115 66752 66485 66452 66465
Loans to Private Sector 944.03
AUD Billion
960 974 987 999 1064
Deposit Interest Rate 1.90
percent
1.9 1.9 1.9 1.9 2.4
Private Debt to GDP 205.50
percent
200 196 196 196 191
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 3017.00
AUD Million
2000 3088 3099 3101 -500
Exports 37496.00
AUD Million
33000 37677 37685 37686 34500
Imports 34479.00
AUD Million
31000 34589 34587 34585 35000
Current Account -13472.00
AUD Million
-19000 -13023 -12978 -12989 -22900
Current Account to GDP -3.10
percent
-2.6 -3 -3 -3 -3.3
External Debt 2045588.00
AUD Million
2092303 2113446 2135704 2159481 2366661
Terms of Trade 89.30
Index Points
89.04 88.36 87.9 87.82 90.76
Foreign Direct Investment 60499.00
AUD Million
52665 50966 49267 47569 56688
Capital Flows 12538.00
AUD Million
13482 12477 12526 12690 12677
Tourist Arrivals 741700.00
1022100 785600 780800 722800 1080400
Gold Reserves 68.70
Tonnes
68.69 67.36 67.36 67.18 67.37
Crude Oil Production 285.00
BBL/D/1K
280 280 280 280 280
Terrorism Index 3.09
3.09 3.09 3.09 3.09 3.09
Weapons Sales 97.00
USD Million
88.88 89.28 89.68 90.09 102
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 41.90
percent
42.5 41 41 41 38
Government Budget -1.90
percent of GDP
-1.2 -0.8 -0.8 -0.8 -0.3
Government Budget Value -5446.00
AUD Million
-3163 -5787 -3172 -4884 -2379
Government Spending 85568.00
AUD Million
85840 86996 87707 87622 90098
Government Revenues 31157.00
AUD Million
33978 32557 35050 33294 35813
Fiscal Expenditure 36603.00
AUD Million
37627 38343 38222 38177 38192
Military Expenditure 26102.32
USD Million
24976 24690 24404 24118 25993
Asylum Applications 2042.00
Persons
2282 2298 2292 2294 2294
Government Spending To GDP 36.20
percent
36.2 36.2 36.2 36.2 36.2
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Business Confidence 4.00
Index Points
10 9 5.51 5.73 6
Manufacturing PMI 58.30
57.1 56.2 55.8 58.35 52
Services PMI 51.10
Index Points
55 53.5 53.87 53.87 52.2
Industrial Production 3.50
percent
2.85 1.41 2.24 2.62 2.9
Industrial Production Mom 0.20
percent
0.06 0.03 0.59 0.57 0.49
Manufacturing Production 1.90
percent
0.5 -0.67 1.91 2.47 1
Capacity Utilization 82.10
percent
82.18 82.17 82.17 82.17 82.17
New Orders 31.00
Index Points
30.1 36.96 35.44 32.32 34.61
Changes in Inventories 1160.00
AUD Million
662 591 559 524 466
Bankruptcies 783.00
Companies
684 687 688 689 688
Corporate Profits 88467.00
AUD Million
68900 87184 87048 86998 59900
Total Vehicle Sales 90718.00
99100 94422 94629 94821 101000
Car Registrations 14078.61
Thousand
14200 14260 14260 14505 14350
Leading Economic Index -0.07
percent
0.1 0 -0.2 0 0.1
Small Business Sentiment -4.01
2.8 -2.14 4 -0.31 0.87
Internet Speed 11063.10
KBps
14067 14383 14695 14967 16567
IP Addresses 9859878.00
IP
9942116 9949235 9951342 9951220 9953818
Private Investment -2.50
percent
0.34 0.7 0.68 0.96 1.23
Mining Production 4.50
percent
1.2 4.79 4.78 3.37 4
Steel Production 433.73
Thousand Tonnes
461 466 464 463 463
Business Inventories 0.60
percent
0.3 0.6 0.2 0.51 0.4
Competitiveness Index 78.85
Points
79.35 79.35 79.35 79.35 81.85
Competitiveness Rank 14.00
14 14 14 14 14
Composite Pmi 52.00
Index Points
53.9 53.5 53.8 51.95 56.5
Corruption Index 77.00
Points
77 77 77 77 77
Corruption Rank 13.00
13 13 13 13 13
Ease of Doing Business 18.00
16 15 16 17 17
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 101.50
Index Points
104 99 102 102 104
Retail Sales MoM 0.20
percent
0.27 0.29 0.29 0.29 0.29
Retail Sales YoY 3.50
percent
2.3 3.92 3.97 4.02 2.6
Consumer Spending 258440.00
AUD Million
263018 263688 264901 264643 276063
Disposable Personal Income 298813.00
AUD Million
302807 304614 306406 308164 323574
Personal Savings 1.00
percent
1.44 1.56 1.64 1.51 1.56
Consumer Credit 2783.41
AUD Billion
2819 2855 2891 2926 3212
Private Sector Credit 0.40
percent
0.42 0.41 0.41 0.41 0.41
Households Debt To GDP 122.20
percent of GDP
124 124 125 125 126
Bank Lending Rate 8.65
percent
8.65 8.65 8.65 8.65 9.15
Gasoline Prices 1.14
USD/Liter
0.98 0.93 0.88 0.81 0.69
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Building Permits 3.30
percent
3.2 0.31 0.35 0.37 2
New Home Sales 4821.00
5000 4900 5451 5448 5550
Housing Index -0.70
percent
-1.5 -0.4 -0.57 -0.54 2.1
Home Ownership Rate 65.00
percent
64 63.5 63.5 64.38 64
Construction Output 1.60
percent
1.5 0.6 0.55 1.23 0.2
Construction Pmi 46.40
Index Points
56 55.6 54 47.06 50
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 30.00
percent
30 30 30 30 30
Personal Income Tax Rate 45.00
percent
45 45 45 45 45
Sales Tax Rate 10.00
percent
10 10 10 10 10
Social Security Rate 11.50
percent
11.5 11.5 11.5 11.5 11.5
Social Security Rate For Companies 9.50
percent
9.5 9.5 9.5 9.5 9.5
Social Security Rate For Employees 2.00
percent
2 2 2 2 2.5
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 28.06
celsius
25.05 26.96 19.26 23.25 22.17
Precipitation 52.60
mm
36.65 71.17 40.27 40.27 39.33



Australia - Economic Forecasts - 2018-2020 Outlook