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Economic Indicators

March Years
Annual average % change
1997
Actual
1998
Actual
1999
Actual
2000
Actual
2001
Actual
2002
Actual
2003
Actual
2004
Actual
2005
Actual
2006
Actual
2007
Actual
2008
Actual
2009
Forecast
2010
Forecast
2011
Forecast
2012
Forecast
2013
Forecast
Private consumption 4.3 2.4 3.1 3.3 1.4 2.8 4.9 6.6 5.0 4.7 2.9 3.3 0.0 0.4 0.2 1.1 1.9
Public consumption 1.4 7.3 -0.3 5.8 -2.0 4.0 1.4 4.9 4.2 5.1 4.0 4.1 3.7 4.5 4.0 3.2 2.7
TOTAL CONSUMPTION 3.7 3.5 2.3 3.8 0.6 3.0 4.1 6.2 4.8 4.8 3.1 3.5 0.8 1.3 1.1 1.6 2.1
Residential investment 4.9 3.0 -13.0 19.5 -13.3 2.0 23.6 15.0 2.9 -5.2 -2.7 3.8 -21.7 -10.9 6.9 9.9 14.3
Non-market investment 18.3 14.0 -4.8 13.0 -13.8 21.9 13.7 15.6 14.2 -1.0 -4.9 -12.2 2.1 7.9 4.4 3.6 3.2
Market investment 4.3 -2.2 2.6 6.9 8.0 6.9 2.3 12.2 11.9 8.4 -0.7 7.4 7.2 -15.0 3.2 6.9 5.8
TOTAL INVESTMENT 5.1 0.2 -2.3 10.6 0.4 6.8 7.8 13.1 9.3 4.4 -1.9 4.3 -2.6 -11.0 6.6 8.3 7.5
Stock change (contribution to growth) -0.4 -0.2 -0.3 1.2 -0.3 0.1 -0.1 0.2 0.3 -0.5 -0.9 0.9 0.5 0.0 -0.4 -0.2 0.1
GROSS NATIONAL EXPENDITURE 3.5 2.6 0.9 6.3 0.3 3.9 4.7 7.8 6.1 4.1 1.1 4.5 0.4 -1.8 1.9 2.9 3.5
Exports 4.7 3.9 2.9 7.4 6.3 3.0 7.8 0.9 4.6 0.0 3.1 2.3 -1.0 -1.9 2.5 7.5 6.4
Imports 6.4 2.5 2.1 11.3 -0.7 4.0 7.2 12.7 12.5 4.2 -1.6 9.7 3.2 -8.7 -0.9 3.9 4.9
EXPENDITURE ON GDP 3.1 2.9 1.2 5.2 2.4 3.5 5.0 4.0 3.8 2.9 2.5 2.4 -0.6 0.8 3.0 3.9 3.8
GDP (production measure) 3.5 1.7 0.5 5.3 2.4 3.6 4.9 4.3 3.8 2.9 1.8 3.2 0.3 0.8 2.9 3.9 3.8
- annual % change 2.0 0.3 2.6 6.4 0.7 4.6 4.6 5.3 2.4 2.9 2.4 2.2 -0.1 1.6 3.5 4.1 3.6
Real GDP per capita 1.9 0.5 -0.2 4.7 1.8 2.7 3.1 2.4 2.3 1.7 0.6 2.1 -0.6 -0.2 2.0 2.9 2.9
Nominal GDP (expenditure basis) 4.9 3.7 1.7 6.0 5.7 7.5 5.1 6.8 7.1 4.9 5.2 7.5 1.5 1.3 4.7 5.8 5.6
GDP deflator 1.8 0.8 0.5 0.9 3.2 3.9 0.2 2.6 3.3 1.9 2.6 4.9 2.2 0.5 1.6 1.8 1.7
Employment (full-time equivalent) 2.2 0.0 -0.8 2.0 2.2 2.6 2.5 2.9 3.6 2.7 2.0 0.8 0.4 -2.0 -1.0 1.6 3.0
Unemployment (% March quarter s.a.) 6.5 7.1 7.1 6.3 5.3 5.2 4.8 4.1 3.8 3.9 3.7 3.7 4.7 6.4 6.2 5.4 4.6
Wages (average ordinary-time hourly) 3.8 3.3 2.9 2.2 2.4 3.5 2.9 3.4 3.3 4.7 4.8 4.2 5.4 4.2 3.7 3.0 2.9
CPI inflation (ann % change, March qtr) 1.8 1.3 -0.1 1.5 3.1 2.6 2.5 1.5 2.8 3.3 2.5 3.4 3.4 2.4 1.9 1.9 1.9
Merchandise terms of trade (SNA basis) 0.0 -1.8 0.9 0.2 3.4 4.0 -5.6 4.3 3.5 -2.1 -1.1 9.4 2.7 -4.3 -0.7 0.3 -0.6
Current account balance - $billion -5.8 -5.4 -4.4 -7.0 -5.1 -3.9 -4.5 -6.7 -10.3 -14.6 -13.8 -14.2 -17.0 -15.7 -13.1 -10.5 -10.5
Current account balance - % of GDP -6.0 -5.3 -4.2 -6.4 -4.4 -3.1 -3.4 -4.8 -6.8 -9.3 -8.3 -8.0 -9.4 -8.6 -6.9 -5.2 -4.9
TWI (March quarter) 68.4 61.2 57.6 54.1 50.5 51.6 60.6 66.9 69.6 68.3 68.8 71.9 56.5 54.4 54.2 53.7 53.0
90-day bank bill rate (March quarter) 7.5 8.9 4.5 6.0 6.4 5.0 5.8 5.5 6.9 7.6 7.8 8.8 5.5 4.8 4.8 5.1 5.6
10-year bond rate (March quarter) 7.5 6.8 5.7 7.3 6.0 6.7 6.0 5.9 6.0 5.7 5.9 6.3 5.9 5.7 5.8 6.0 6.0
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