Annual Macroeconomic Snapshot • 1950s
The Australian Economy in 1956
In 1956, Australia’s Estimated Resident Population stood at 9,530,871, real GDP growth averaged 4.8%, annual CPI inflation averaged 5.9% and the unemployment rate averaged 0.8%.
- • The 10-year Commonwealth Government bond yield averaged 5.08% in 1956 (prior to the modern RBA Cash Rate Target series).
1956 Economic Indicators at a Glance
% p.a.
Rank #26 of 104 yrs
Inflation (CPI) in 1956
5.9% Long-run avg: 4.0%
+3.7 pp %
Rank #73 of 77 yrs
Unemployment Rate in 1956
0.8% Long-run avg: 4.8%
+0.3 pp % p.a.
Rank #20 of 77 yrs
Real GDP Growth in 1956
4.8% Long-run avg: 3.4%
-1.1 pp Persons
Rank #71 of 126 yrs
Population in 1956
9.53M Long-run avg: 12,689,752
+219,046 % p.a.
Rank #13 of 125 yrs
Population Growth in 1956
2.35% Long-run avg: 1.61%
-0.09 pp % p.a.
Rank #48 of 78 yrs
10-Year Bond Yield in 1956
5.08% Long-run avg: 6.63%
-0.27 pp % p.a.
RBA Cash Rate in 1956
N/A Series commenced later
US$ per A$1
AUD/USD Exchange Rate in 1956
N/A Series commenced later
% of disposable income
Household Saving Ratio in 1956
N/A Series commenced later
% of GDP
Trade Balance (% GDP) in 1956
N/A Series commenced later
'000 dwellings / month
Dwelling Approvals in 1956
N/A Series commenced later
% p.a.
Wage Growth (WPI) in 1956
N/A Series commenced later
1956 in Context: Preceding & Following Years (1951–1961)
10-year window around 1956 showing how key indicators evolved before and after