Annual Macroeconomic Snapshot • 1970s
The Australian Economy in 1972
In 1972, Australia’s Estimated Resident Population stood at 13,409,288, real GDP growth averaged 1.9%, annual CPI inflation averaged 6.0% and the unemployment rate averaged 2.5%.
- • The 10-year Commonwealth Government bond yield averaged 5.83% in 1972 (prior to the modern RBA Cash Rate Target series).
- • The Australian Dollar averaged US$1.1923 against the US Dollar during 1972.
1972 Economic Indicators at a Glance
% p.a.
Rank #25 of 104 yrs
Inflation (CPI) in 1972
6.0% Long-run avg: 4.0%
+0.1 pp %
Rank #54 of 77 yrs
Unemployment Rate in 1972
2.5% Long-run avg: 4.8%
+0.8 pp % p.a.
Rank #66 of 77 yrs
Real GDP Growth in 1972
1.9% Long-run avg: 3.4%
-1.9 pp Persons
Rank #55 of 126 yrs
Population in 1972
13.41M Long-run avg: 12,689,752
+210,908 % p.a.
Rank #54 of 125 yrs
Population Growth in 1972
1.60% Long-run avg: 1.61%
-2.62 pp % p.a.
Rank #33 of 78 yrs
10-Year Bond Yield in 1972
5.83% Long-run avg: 6.63%
-0.88 pp % p.a.
RBA Cash Rate in 1972
N/A Series commenced later
US$ per A$1
Rank #5 of 67 yrs
AUD/USD Exchange Rate in 1972
US$1.1923 Long-run avg: US$0.8921
+0.0594 % of disposable income
Rank #6 of 68 yrs
Household Saving Ratio in 1972
15.6% Long-run avg: 9.0%
+0.1 pp % of GDP
Rank #6 of 68 yrs
Trade Balance (% GDP) in 1972
2.3% Long-run avg: -0.5%
+2.4 pp '000 dwellings / month
Rank #30 of 62 yrs
Dwelling Approvals in 1972
150.7k Long-run avg: 152.7
+21.7 % p.a.
Wage Growth (WPI) in 1972
N/A Series commenced later
1972 in Context: Preceding & Following Years (1967–1977)
10-year window around 1972 showing how key indicators evolved before and after