Investor Presentaiton
Australian and New Zealand economic forecasts.
Economics
Key economic indicators (%)
at April 2021
2019
2020
2021F
2022F
Key economic indicators (%)
at April 2021
2019
2020
2021F
2022F
World
GDP1
2.8
-3.3
5.9
4.5
Australia
Credit growth
Australia
GDP2
2.2
-1.1
4.5
3.0
Total year end
2.4
1.8
4.6
5.6
Unemployment - end period
5.2
6.8
5.0
4.7
Housing-year end
3.0
3.5
6.5
7.2
CPI headline - year end
1.8
0.9
3.1
2.1
Business-year end
2.4
0.9
2.5
3.6
Interest rates - cash rate
0.75
0.10
0.10
0.10
New Zealand
Credit growth
New Zealand
GDP2
1.7
-0.9
2.1
4.9
Total year end
5.7
3.3
5.7
5.7
Unemployment - end period
4.1
4.9
4.9
4.2
Consumer prices
1.9
1.4
2.4
1.3
Housing-year end
6.9
8.2
8.6
6.1
Interest rates - official cash rate
1.00
0.25
0.25
0.25
Business-year end
4.6
-2.6
1.3
5.3
Private sector credit growth (% ann)
Housing Australia
Total credit Australia
Business Australia
GDP growth (year average)
12.0
2018 2019 2020
2021f 2022f
% ann
25
10.0
20
8.0
6.0
15
4.0
10
2.0
5
0.0
0
-2.0
-4.0
-5
-6.0
-10
Australia
New Zealand
United States
China
Mar-07
Source: Westpac Economics.
1 Year average growth rates. 2 Through the year growth rates.
97
Westpac Group 2021 Interim Results Presentation & Investor Discussion Pack
-Total credit New Zealand
Westpac
f'casts
Mar-09 Mar-11
Mar-13 Mar-15 Mar-17 Mar-19 Mar-21
Sources: RBA, Westpac Economics
Westpac GROUPView entire presentation