Investor Presentaiton
The Australian economy.
Positive signs but still a long way from potential.
Unemployment rate (%)
%
9
LO
Business confidence and investment
Business investment real, non-mining, Ihs
Business confidence, adv 2qtrs, rhs
Many
%
Westpac f'casts
% yr end
9
to Dec-23
30
8
8
20
7
7
10
6
6
0
5
5
-10
4
RBA's target: < 4%
4
3
3
-20
2
2
-30
Mar-97 Mar-01 Mar-05 Mar-09
Mar-13
Mar-17 Mar-21
Mar-91
Sources: NAB survey, ABS, Westpac Economics.
Sources: NAB survey, ABS, Westpac Economics
Mar-00
Economics
Net Bal.
30
20
10
0
-10
-20
-30
Mar-09
Mar-18
Wages (%)
%
5
Aust. population growth: medium term prospects (% ann)
%
Ann %
Ann %
Westpac f'casts
5
2.5
Population
to Dec-23
Gov't forecasts
(to Jun-24)
2.5
2.0
Contribution from net migration
2.0
4
my
4
1.5
1.5
RBA's target:
3
> 3%
3
1.0
1.0
0.5
0.5
2
2
0.0
0.0
1
Dec-96
1
-0.5
-0.5
Dec-00
Dec-04
Dec-08 Dec-12
Dec-16 Dec-20
1990
Sources: RBA, Westpac Economics
1980
2000
Sources: ABS, Aus Govt Centre for Population, Westpac Economics.
2010
2020
101
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