Investor Presentaiton
Australian economy: slower growth expected in 2023.
Higher rates and high inflation to impact.
Australia's growth mix (ppts, annual)
Economics
Australia's GDP profile (index)
ppts annual
contributions to GDP growth, year end
ppts annual
Index
6
6
pre COVID-19 forecast
current forecast
Index
112
112
LO
5
4.5
5
■2020 ■2021 ■2022f ■2023f
Dec 2019 100
4
3
3.4
4
108
108
3
104
104
21
2
1.0
100
100
1
96
0
0
Westpac
96
f'casts to
-1
-1
92
92
-0.7
Dec-23
-2
-2
88
Consumer Housing Business
Investment
Public Net exports
GDP
Jun-17
Jun-18 Jun-19
Jun-20 Jun-21
Jun-22 Jun-23
88
Jun-24
Sources: ABS, Westpac Economics
Household deposits ($bn) and
Household saving ratio (% of income)
$bn
1800
1400
1000
Household deposits (Ihs)
Household saving ratio (rhs)
Sources: ABS, Westpac Economics
Confidence: consumers and businesses
30
% of income
28
20
32
net bal.
index
130
Business (lhs)
Consumer (rhs)
120
24
20
10
110
16
0
100
12
-10
90
8
4
-20
80
Mar-20 off scale: -68.2
0
-30
70
Sep-08
Sep-11
Sep-14
Sep-17
Sep-20
600
200
with
-200
Jun-92
Jun-97
Jun-02
Jun-07 Jun-12 Jun-17
Jun-22
Sources: ABS, Westpac Economics
112
Westpac Group 2022 Full Year Results Presentation & Investor Discussion Pack
Sources: Westpac MI, NAB, Westpac Economics
Westpac GROUPView entire presentation