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Economic Indicators

June Years 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Annual average % change  Actual  Actual  Actual  Actual  Actual  Actual  Actual  Actual  Actual  Actual Forecast Forecast Forecast Forecast Forecast
Private consumption 3.7 2.9 -1.0 2.3 2.0 3.5 2.4 3.3 3.1 3.2 4.6 3.9 3.7 2.2 1.8
Public consumption 4.2 4.3 3.3 -0.4 2.5 0.7 0.0 2.9 3.1 1.9 3.0 2.0 1.4 1.4 1.1
TOTAL CONSUMPTION 3.8 3.2 0.1 1.6 2.2 2.8 1.8 3.2 3.1 2.9 4.2 3.5 3.2 2.0 1.7
Residential investment                2.5 -3.8 -22.0 -2.5 -3.1 10.2 18.0 13.6 5.6 6.3 6.7 0.3 8.7 8.8 3.3
Business investment                 1.9 10.4 -8.7 -8.0 8.2 5.9 1.0 8.8 5.2 2.7 6.4 6.8 5.9 5.7 4.5
TOTAL INVESTMENT 2.1 6.5 -12.0 -6.8 5.6 6.8 4.7 10.0 5.3 3.6 6.5 5.1 6.6 6.5 4.2
Stock change (contribution to growth) -0.5 0.9 -1.4 0.9 -0.1 0.1 -0.3 0.4 -0.1 -0.4 0.4 -0.4 0.1 0.2 0.1
GROSS NATIONAL EXPENDITURE 2.8 4.8 -4.2 0.7 2.7 3.9 2.2 4.6 3.3 2.7 5.5 3.7 4.1 3.3 2.4
Exports 4.0 3.5 -2.9 4.8 2.2 2.1 3.0 0.1 5.7 5.1 -0.6 3.4 3.3 2.7 2.9
Imports 1.7 11.6 -12.0 -1.0 11.4 4.4 2.6 9.0 6.6 1.3 6.3 3.7 4.5 4.2 2.9
EXPENDITURE ON GDP 3.5 2.4 -1.3 2.7 0.2 3.3 2.3 2.1 3.2 3.7 3.5 3.4 3.8 2.8 2.4
GDP (production measure) 3.1 2.2 -1.7 0.8 1.1 2.7 2.2 2.5 3.3 2.7 3.1 3.5 3.8 2.9 2.4
 - annual % change 3.3 0.5 -2.0 2.6 0.9 2.6 2.6 2.7 2.4 3.5 3.2 3.7 3.5 2.6 2.3
Real GDP per capita 2.0 1.3 -2.6 -0.3 0.2 2.0 1.6 1.3 1.5 0.7 0.9 1.4 1.8 1.3 1.1
Nominal GDP (expenditure basis) 6.6 7.7 0.3 3.8 4.6 4.5 1.7 8.0 2.9 4.2 6.2 4.8 5.4 5.0 4.2
GDP deflator 3.0 5.2 1.6 1.1 4.4 1.2 -0.6 5.7 -0.3 0.5 2.7 1.3 1.6 2.1 1.8
Output gap (% deviation, June year average) 1.8 2.2 -0.9 -1.3 -1.9 -1.3 -1.2 -1.2 -0.5 -0.5 -0.7 -0.4 0.4 0.4 0.1
Employment 1.6 1.3 -0.2 -1.3 1.5 0.9 0.2 3.2 3.2 2.3 5.1 2.5 2.0 1.8 1.3
Unemployment (% June quarter s.a.)          3.6 3.8 5.7 6.5 6.0 6.3 6.0 5.2 5.5 5.0 5.0 5.0 4.6 4.3 4.3
Wages (average ordinary-time hourly, ann % change)         4.4 5.4 4.7 1.1 3.0 2.9 2.1 2.6 2.8 2.1 1.2 2.6 2.3 2.2 2.1
CPI inflation (ann % change)      2.0 4.0 1.9 1.7 5.3 1.0 0.7 1.6 0.4 0.4 1.8 1.6 2.1 2.2 2.1
Merchandise terms of trade (SNA basis)       0.2 10.0 -4.3 -3.0 9.7 -1.7 -3.8 16.4 -4.8 -2.4 6.2 -0.2 0.0 0.4 0.2
House prices (ann % change) 13.7 -4.4 -3.2 3.4 0.4 4.2 9.1 6.9 11.1 14.0 5.1 7.8 3.9 3.1 2.2
Current account balance - $billion           -12.2 -13.4 -9.4 -3.5 -6.0 -7.7 -7.9 -6.0 -8.9 -7.3 -7.4 -8.5 -9.7 -11.6 -12.7
Current account balance - % of GDP           -6.9 -7.1 -4.9 -1.8 -2.9 -3.6 -3.6 -2.5 -3.7 -2.9 -2.8 -3.0 -3.3 -3.7 -3.9
TWI (June quarter)                           75.7 73.0 62.3 68.6 70.8 72.4 76.3 81.5 76.2 73.6 76.1 76.6 76.9 76.7 74.7
90-day bank bill rate (June quarter)        8.1 8.8 2.9 2.9 2.7 2.6 2.6 3.4 3.5 2.4 2.0 2.0 2.7 3.4 3.9
10-year bond rate (June quarter)            6.3 6.4 5.6 5.7 5.3 3.7 3.5 4.4 3.6 2.7 3.1 3.6 4.0 4.2 4.3

Data for 2017 and subsequently are forecasts. Data for 2016 and prior years are those that were available when the forecasts were finalised.

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