Real GDP growth Per cent Per cent 6 6 5 5 Through the year 4 - - PowerPoint PPT Presentation

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Real GDP growth Per cent Per cent 6 6 5 5 Through the year 4 - - PowerPoint PPT Presentation

Feb 09, 2023 155 likes •296 views

N ATIONAL A CCOUNTS March Quarter 2020 Real GDP growth Per cent Per cent 6 6 5 5 Through the year 4 4 10-year average (through the year) 3 3 2.5 2 2 1.4 1 1 0 0 -0.3 Quarterly -1 -1 Mar-10 Mar-12 Mar-14 Mar-16 Mar-18

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SLIDE 1

NATIONAL ACCOUNTS

March Quarter 2020

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SLIDE 2

2

Real GDP growth

Note: Median market expectation was for quarterly GDP to fall by 0.4 per cent (range: a fall of 1.1 per cent to a rise of 0.2 per cent) Median market expectation for through-the-year growth was 1.4 per cent (range: 0.6 per cent to 1.9 per cent)

  • 0.3

1.4 2.5

  • 1

1 2 3 4 5 6

  • 1

1 2 3 4 5 6 Mar-10 Mar-12 Mar-14 Mar-16 Mar-18 Mar-20 Per cent Quarterly Per cent Through the year 10-year average (through the year)

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SLIDE 3

3

  • 10
  • 8
  • 6
  • 4
  • 2
  • 10
  • 8
  • 6
  • 4
  • 2

Australia Japan Korea United States OECD Average United Kingdom Canada Germany France Italy China Per cent Per cent

International real GDP growth comparisons

(March quarter)

Note: All data is for March 2020. OECD Average is based on the reported figures of approximately 28 member countries. Source: National Statistical Agencies and Refinitiv

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SLIDE 4

4

Contributions to real GDP growth

(quarterly)

Note: The sum of individual components may not add to the aggregate due to rounding and the omissions of the statistical discrepancy

Household Consumption

  • 0.6

Dwelling Investment

  • 0.1

New Business Investment

  • 0.1

New Public Final Demand 0.3 Change in Inventories

  • 0.2

Net Exports 0.5 GDP

  • 0.3
  • 0.8
  • 0.6
  • 0.4
  • 0.2

0.0 0.2 0.4 0.6 0.8

  • 0.8
  • 0.6
  • 0.4
  • 0.2

0.0 0.2 0.4 0.6 0.8 Household Consumption Dwelling Investment New Business Investment New Public Final Demand Change in Inventories Net Exports GDP Percentage points, qoq Percentage points, qoq

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SLIDE 5

5

Household consumption of goods and services

1.0

  • 2.4
  • 3
  • 2
  • 1

1 2 3

  • 3
  • 2
  • 1

1 2 3 Mar-08 Mar-10 Mar-12 Mar-14 Mar-16 Mar-18 Mar-20 Per cent, qoq Per cent, qoq Goods Services

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SLIDE 6

6

Consumption by category (qoq)

Note: Discretionary consumption is as classified by Treasury

  • 14
  • 11
  • 8
  • 5
  • 2

1 4 7

  • 14
  • 11
  • 8
  • 5
  • 2

1 4 7 Transport services Hotels, cafes and restaurants Clothing and footwear Operation of vehicles Cigarettes and tobacco Purchase of vehicles Recreation and culture Health Other goods and services Electricity, gas and other fuel Insurance and other financial services Education services Rent and other dwelling services Furnishings and household equipment Communications Alcoholic beverages Food Per cent Non-discretionary Discretionary

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SLIDE 7

7

New non-mining Mining

Business investment

  • 2.1
  • 6.0

1.8

  • 10
  • 5

5 10 15

  • 10
  • 5

5 10 15 Mar-10 Mar-15 Mar-20 Per cent Per cent Through the year 10-year average

(through the year)

Quarterly 3.6 10.3

  • 0.6
  • 40
  • 20

20 40 60 80

  • 40
  • 20

20 40 60 80 Mar-10 Mar-15 Mar-20 Per cent Per cent Through the year 10-year average (through the year) Quarterly

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SLIDE 8

8

New public final demand

1.4 5.3 2.7

  • 6
  • 3

3 6 9 12

  • 6
  • 3

3 6 9 12 Mar-10 Mar-12 Mar-14 Mar-16 Mar-18 Mar-20 Per cent Per cent Through the year 10-year average (through the year) Quarterly

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SLIDE 9

9

Export and import volumes growth

Exports Imports

  • 3.5
  • 2.0

4.0

  • 9
  • 6
  • 3

3 6 9 12

  • 9
  • 6
  • 3

3 6 9 12 Mar-10 Mar-15 Mar-20 Per cent Through the year Quarterly Per cent 10-year average (through the year)

  • 6.2
  • 7.7

2.1

  • 12
  • 6

6 12 18 24

  • 12
  • 6

6 12 18 24 Mar-10 Mar-15 Mar-20 Per cent Through the year Quarterly Per cent 10-year average (through the year)

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SLIDE 10

10

Farm GDP

  • 2.4
  • 10.3
  • 1.5
  • 20
  • 15
  • 10
  • 5

5 10 15 20 25

  • 20
  • 15
  • 10
  • 5

5 10 15 20 25 Mar-10 Mar-12 Mar-14 Mar-16 Mar-18 Mar-20 Per cent Per cent Quarterly Through the year 10-year average tty

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SLIDE 11

11

Household saving ratio

Note: The household saving ratio is the ratio of household net saving to household net disposable income

5.5

  • 4

4 8 12 16

  • 4

4 8 12 16 Mar-90 Mar-96 Mar-02 Mar-08 Mar-14 Mar-20 Per cent Per cent 10.9 Dec-08

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SLIDE 12

12

  • 10
  • 8
  • 6
  • 4
  • 2
  • 10
  • 8
  • 6
  • 4
  • 2

Australia Japan Korea United States OECD Average United Kingdom Canada Germany France Italy China Per cent Per cent

International real GDP growth comparisons

(March quarter)

Note: All data is for March 2020. OECD Average is based on the reported figures of approximately 28 member countries. Source: National Statistical Agencies and Refinitiv

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SLIDE 13

NATIONAL ACCOUNTS

March Quarter 2020