Annual Macroeconomic Snapshot • 1960s
The Australian Economy in 1960
In 1960, Australia’s Estimated Resident Population stood at 10,391,920, real GDP growth averaged 3.9%, annual CPI inflation averaged 3.8% and the unemployment rate averaged 1.2%.
- • The 10-year Commonwealth Government bond yield averaged 5.38% in 1960 (prior to the modern RBA Cash Rate Target series).
- • The Australian Dollar averaged US$1.1200 against the US Dollar during 1960.
1960 Economic Indicators at a Glance
% p.a.
Rank #38 of 104 yrs
Inflation (CPI) in 1960
3.8% Long-run avg: 4.0%
+1.9 pp %
Rank #69 of 77 yrs
Unemployment Rate in 1960
1.2% Long-run avg: 4.8%
-0.5 pp % p.a.
Rank #34 of 77 yrs
Real GDP Growth in 1960
3.9% Long-run avg: 3.4%
-3.4 pp Persons
Rank #67 of 126 yrs
Population in 1960
10.39M Long-run avg: 12,689,752
+230,952 % p.a.
Rank #16 of 125 yrs
Population Growth in 1960
2.27% Long-run avg: 1.61%
+0.12 pp % p.a.
Rank #39 of 78 yrs
10-Year Bond Yield in 1960
5.38% Long-run avg: 6.63%
+0.50 pp % p.a.
RBA Cash Rate in 1960
N/A Series commenced later
US$ per A$1
Rank #10 of 67 yrs
AUD/USD Exchange Rate in 1960
US$1.1200 Long-run avg: US$0.8921
% of disposable income
Rank #25 of 68 yrs
Household Saving Ratio in 1960
13.2% Long-run avg: 9.0%
-1.3 pp % of GDP
Rank #68 of 68 yrs
Trade Balance (% GDP) in 1960
-3.0% Long-run avg: -0.5%
-2.6 pp '000 dwellings / month
Dwelling Approvals in 1960
N/A Series commenced later
% p.a.
Wage Growth (WPI) in 1960
N/A Series commenced later
1960 in Context: Preceding & Following Years (1955–1965)
10-year window around 1960 showing how key indicators evolved before and after