Macroeconomic indicators 2019-20

Brief description

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.