Annual Macroeconomic Snapshot • 1960s
The Australian Economy in 1967
In 1967, Australia’s Estimated Resident Population stood at 11,912,253, real GDP growth averaged 7.3%, annual CPI inflation averaged 3.2% and the unemployment rate averaged 1.7%.
- • The 10-year Commonwealth Government bond yield averaged 5.11% in 1967 (prior to the modern RBA Cash Rate Target series).
- • The Australian Dollar averaged US$1.1200 against the US Dollar during 1967.
1967 Economic Indicators at a Glance
% p.a.
Rank #46 of 104 yrs
Inflation (CPI) in 1967
3.2% Long-run avg: 4.0%
0.0 pp %
Rank #59 of 77 yrs
Unemployment Rate in 1967
1.7% Long-run avg: 4.8%
+0.1 pp % p.a.
Rank #2 of 77 yrs
Real GDP Growth in 1967
7.3% Long-run avg: 3.4%
+4.5 pp Persons
Rank #60 of 126 yrs
Population in 1967
11.91M Long-run avg: 12,689,752
+207,410 % p.a.
Rank #45 of 125 yrs
Population Growth in 1967
1.77% Long-run avg: 1.61%
+0.04 pp % p.a.
Rank #47 of 78 yrs
10-Year Bond Yield in 1967
5.11% Long-run avg: 6.63%
+0.08 pp % p.a.
RBA Cash Rate in 1967
N/A Series commenced later
US$ per A$1
Rank #10 of 67 yrs
AUD/USD Exchange Rate in 1967
US$1.1200 Long-run avg: US$0.8921
0.0000 % of disposable income
Rank #15 of 68 yrs
Household Saving Ratio in 1967
14.4% Long-run avg: 9.0%
+0.6 pp % of GDP
Rank #46 of 68 yrs
Trade Balance (% GDP) in 1967
-1.3% Long-run avg: -0.5%
-0.2 pp '000 dwellings / month
Rank #59 of 62 yrs
Dwelling Approvals in 1967
109.9k Long-run avg: 152.7
+9.7 % p.a.
Wage Growth (WPI) in 1967
N/A Series commenced later
1967 in Context: Preceding & Following Years (1962–1972)
10-year window around 1967 showing how key indicators evolved before and after