Annual Macroeconomic Snapshot • 1980s
The Australian Economy in 1984
In 1984, Australia’s Estimated Resident Population stood at 15,677,282, real GDP growth averaged 6.7%, annual CPI inflation averaged 4.0% and the unemployment rate averaged 9.0%.
- • The RBA overnight/target cash rate ended 1984 at 12.01%, while 10-year Australian Government bond yields averaged 13.53%.
- • The Australian Dollar averaged US$0.8776 against the US Dollar during 1984.
1984 Economic Indicators at a Glance
% p.a.
Rank #36 of 104 yrs
Inflation (CPI) in 1984
4.0% Long-run avg: 4.0%
-6.1 pp %
Rank #6 of 77 yrs
Unemployment Rate in 1984
9.0% Long-run avg: 4.8%
-1.0 pp % p.a.
Rank #6 of 77 yrs
Real GDP Growth in 1984
6.7% Long-run avg: 3.4%
+7.3 pp Persons
Rank #43 of 126 yrs
Population in 1984
15.68M Long-run avg: 12,689,752
+193,786 % p.a.
Rank #86 of 125 yrs
Population Growth in 1984
1.25% Long-run avg: 1.61%
-0.02 pp % p.a.
Rank #5 of 78 yrs
10-Year Bond Yield in 1984
13.53% Long-run avg: 6.63%
-0.36 pp % p.a.
Rank #7 of 51 yrs
RBA Cash Rate in 1984
12.01% Long-run avg: 6.48%
+7.25 pp US$ per A$1
Rank #30 of 67 yrs
AUD/USD Exchange Rate in 1984
US$0.8776 Long-run avg: US$0.8921
-0.0233 % of disposable income
Rank #15 of 68 yrs
Household Saving Ratio in 1984
14.4% Long-run avg: 9.0%
+1.7 pp % of GDP
Rank #54 of 68 yrs
Trade Balance (% GDP) in 1984
-2.1% Long-run avg: -0.5%
-0.7 pp '000 dwellings / month
Rank #33 of 62 yrs
Dwelling Approvals in 1984
145.7k Long-run avg: 152.7
+29.2 % p.a.
Wage Growth (WPI) in 1984
N/A Series commenced later
1984 in Context: Preceding & Following Years (1979–1989)
10-year window around 1984 showing how key indicators evolved before and after