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Real Gross Domestic Product

Gross Domestic Product, Chain Volume Measures, Quarterly Change, %, SA, Updates Quarterly

Real Gross Domestic Product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.


Unemployment Rate

Unemployment and Underemployment Rates, All Persons, %, SA, Updates Monthly

The Unemployment Rate measures the percentage of the labor force currently not working but actively seeking employment, while the Underemployment Rate measures part- and stood-down full-time employees who are not working as much as they desire. Markets monitor the unemployment and underemployment rates to assess the cyclical health of the economy and the likelihood that wage demands may increase inflationary pressures.


Consumer Prices

All Groups, ex. Volatile Items, Trimmed Mean, annual % change, SA, updates monthly

The Consumer Price Index is a measure of the change over time in the average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in the index are closely followed by policymakers, financial markets, businesses, and consumers. The Australian Bureau of Statistics reports an 'All Groups' number that includes all categories in the calculation basket, an ex-"volatile items" measure that excludes fruit, vegetables, automotive fuel, and holiday travel, and a 'Trimmed Mean' number that strips out the most volatile 30% of items.


Retail Sales

Turnover, Monthly Change, %, SA, Updates Monthly

Retail Sales measures the monthly online and in-store turnover of retailers in Australia, and is calculated in seasonally-adjusted and current dollar terms. By providing critical insight into consumer spending trends, it is considered a key leading indicator, influencing the direction of monetary policy and the Australian dollar over time.


Trade Balance

Balance on Goods and Services, Millions AUD, SA, Updates Monthly

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported - generating a trade surplus - and a negative number indicates a deficit. Trade imbalances may reflect fleeting differences in growth rates or more permanent factors in the composition of growth or the endowment and price of natural resources.


Cash Rate Target

Reserve Bank of Australia Target for the Overnight Rate, %

The Cash Rate Target is an overnight interest rate that the Reserve Bank of Australia targets in order to influence monetary variables in the economy, including consumer prices, exchange rates, and credit growth. The Reserve Bank reviews the target rate on eleven fixed dates each year.


Money Supply Growth

M3 Money Supply, Annual Change, %, SA, Updates Monthly

M3 Money Supply is a measure of currency that includes cash, checking deposits, non-cash assets that can easily be converted into cash, and longer-term near-cash assets, including deposits with a maturity of up to two years, deposits redeemable at notice of up to three months and repurchase agreements, money market fund instruments and debt securities up to two years. Markets don’t typically respond directly to changes in M3, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.


Central Bank Assets

Reserve Bank of Australia Total Assets, Billions AUD

The Reserve Bank of Australia’s assets consist primarily of government and corporate bonds, gold and foreign exchange reserves, reverse repurchase agreements, and other instruments. Its liabilities are mostly currency in circulation, commercial bank reserves, and collateralized reverse repurchase agreements. The balance sheet is used to influence interest rates - when officials want to stimulate the economy, it expands, and when they wish to tighten financial conditions, it shrinks.


Debt Ratios

Credit to General Government, Non-Financial Corporate, and Household Sectors, % of Gross Domestic Product at Market Value, Updates Quarterly

Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.


Currency Reserves

Official Reserve Assets, Foreign Currency Reserves (in Convertible Foreign Currencies), Billions USD, Updates Monthly

Currency Reserves show external holdings that are freely usable for settlement of international transactions, and are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in currency markets to affect exchange rates, and for other related purposes. Developed markets with widely used, freely tradeable international currencies typically provide reserve assets rather than engaging in reserve accumulation.

Latest Analysis

Latest Analysis