Macroeconomic Indicators 2013-14

Brief description

DTF forecasts a number of macroeconomic aggregates for inclusion in the budget
papers.

These forecasts have three main purposes:

* they provide a framework for presenting the economic context in which the budget is developed;
* most of the economic aggregates or their sub-components are used in the modelling of taxation and other revenue lines; and
* forecasts of nominal gross state product (GSP) are used to express key financial aggregates in relation to the size of the economy, such as non-financial public sector net debt to nominal GSP.

The spreadsheet below contains the seven published aggregates for the budget
papers (Budget and Budget Update):


* real GSP growth;
* level of nominal GSP;
* employment growth;
* unemployment rate;
* growth in the consumer price index;
* growth in the wage price index; and
* annual population growth.