Annual Macroeconomic Snapshot • 1960s
The Australian Economy in 1968
In 1968, Australia’s Estimated Resident Population stood at 12,145,582, real GDP growth averaged 5.2%, annual CPI inflation averaged 2.7% and the unemployment rate averaged 1.6%.
- • The 10-year Commonwealth Government bond yield averaged 5.35% in 1968 (prior to the modern RBA Cash Rate Target series).
- • The Australian Dollar averaged US$1.1200 against the US Dollar during 1968.
1968 Economic Indicators at a Glance
% p.a.
Rank #57 of 104 yrs
Inflation (CPI) in 1968
2.7% Long-run avg: 4.0%
-0.5 pp %
Rank #63 of 77 yrs
Unemployment Rate in 1968
1.6% Long-run avg: 4.8%
-0.1 pp % p.a.
Rank #14 of 77 yrs
Real GDP Growth in 1968
5.2% Long-run avg: 3.4%
-2.1 pp Persons
Rank #59 of 126 yrs
Population in 1968
12.15M Long-run avg: 12,689,752
+233,329 % p.a.
Rank #36 of 125 yrs
Population Growth in 1968
1.96% Long-run avg: 1.61%
+0.19 pp % p.a.
Rank #42 of 78 yrs
10-Year Bond Yield in 1968
5.35% Long-run avg: 6.63%
+0.24 pp % p.a.
RBA Cash Rate in 1968
N/A Series commenced later
US$ per A$1
Rank #10 of 67 yrs
AUD/USD Exchange Rate in 1968
US$1.1200 Long-run avg: US$0.8921
0.0000 % of disposable income
Rank #24 of 68 yrs
Household Saving Ratio in 1968
13.5% Long-run avg: 9.0%
-0.9 pp % of GDP
Rank #58 of 68 yrs
Trade Balance (% GDP) in 1968
-2.4% Long-run avg: -0.5%
-1.1 pp '000 dwellings / month
Rank #46 of 62 yrs
Dwelling Approvals in 1968
127.4k Long-run avg: 152.7
+17.5 % p.a.
Wage Growth (WPI) in 1968
N/A Series commenced later
1968 in Context: Preceding & Following Years (1963–1973)
10-year window around 1968 showing how key indicators evolved before and after