Annual Macroeconomic Snapshot • 1970s
The Australian Economy in 1976
In 1976, Australia’s Estimated Resident Population stood at 14,110,107, real GDP growth averaged 4.3%, annual CPI inflation averaged 13.3% and the unemployment rate averaged 4.7%.
- • The RBA overnight/target cash rate ended 1976 at 6.37%, while 10-year Australian Government bond yields averaged 10.03%.
- • The Australian Dollar averaged US$1.2221 against the US Dollar during 1976.
1976 Economic Indicators at a Glance
% p.a.
Rank #5 of 104 yrs
Inflation (CPI) in 1976
13.3% Long-run avg: 4.0%
-1.9 pp %
Rank #44 of 77 yrs
Unemployment Rate in 1976
4.7% Long-run avg: 4.8%
+0.1 pp % p.a.
Rank #26 of 77 yrs
Real GDP Growth in 1976
4.3% Long-run avg: 3.4%
+2.3 pp Persons
Rank #51 of 126 yrs
Population in 1976
14.11M Long-run avg: 12,689,752
+141,226 % p.a.
Rank #104 of 125 yrs
Population Growth in 1976
1.01% Long-run avg: 1.61%
+0.02 pp % p.a.
Rank #14 of 78 yrs
10-Year Bond Yield in 1976
10.03% Long-run avg: 6.63%
+0.29 pp % p.a.
Rank #18 of 51 yrs
RBA Cash Rate in 1976
6.37% Long-run avg: 6.48%
US$ per A$1
Rank #4 of 67 yrs
AUD/USD Exchange Rate in 1976
US$1.2221 Long-run avg: US$0.8921
-0.0870 % of disposable income
Rank #5 of 68 yrs
Household Saving Ratio in 1976
15.9% Long-run avg: 9.0%
-2.3 pp % of GDP
Rank #21 of 68 yrs
Trade Balance (% GDP) in 1976
0.1% Long-run avg: -0.5%
-0.5 pp '000 dwellings / month
Rank #42 of 62 yrs
Dwelling Approvals in 1976
137.2k Long-run avg: 152.7
+20.0 % p.a.
Wage Growth (WPI) in 1976
N/A Series commenced later
1976 in Context: Preceding & Following Years (1971–1981)
10-year window around 1976 showing how key indicators evolved before and after