Annual Macroeconomic Snapshot • 1980s
The Australian Economy in 1989
In 1989, Australia’s Estimated Resident Population stood at 16,936,723, real GDP growth averaged 4.6%, annual CPI inflation averaged 7.5% and the unemployment rate averaged 6.1%.
- • The RBA overnight/target cash rate ended 1989 at 18.16%, while 10-year Australian Government bond yields averaged 13.41%.
- • The Australian Dollar averaged US$0.7908 against the US Dollar during 1989.
1989 Economic Indicators at a Glance
% p.a.
Rank #20 of 104 yrs
Inflation (CPI) in 1989
7.5% Long-run avg: 4.0%
+0.3 pp %
Rank #24 of 77 yrs
Unemployment Rate in 1989
6.1% Long-run avg: 4.8%
-1.1 pp % p.a.
Rank #23 of 77 yrs
Real GDP Growth in 1989
4.6% Long-run avg: 3.4%
+0.4 pp Persons
Rank #38 of 126 yrs
Population in 1989
16.94M Long-run avg: 12,689,752
+249,641 % p.a.
Rank #65 of 125 yrs
Population Growth in 1989
1.50% Long-run avg: 1.61%
-0.28 pp % p.a.
Rank #7 of 78 yrs
10-Year Bond Yield in 1989
13.41% Long-run avg: 6.63%
+1.31 pp % p.a.
Rank #2 of 51 yrs
RBA Cash Rate in 1989
18.16% Long-run avg: 6.48%
+3.57 pp US$ per A$1
Rank #34 of 67 yrs
AUD/USD Exchange Rate in 1989
US$0.7908 Long-run avg: US$0.8921
+0.0095 % of disposable income
Rank #31 of 68 yrs
Household Saving Ratio in 1989
8.6% Long-run avg: 9.0%
+0.7 pp % of GDP
Rank #58 of 68 yrs
Trade Balance (% GDP) in 1989
-2.4% Long-run avg: -0.5%
-1.4 pp '000 dwellings / month
Rank #25 of 62 yrs
Dwelling Approvals in 1989
154.8k Long-run avg: 152.7
-13.4 % p.a.
Wage Growth (WPI) in 1989
N/A Series commenced later
1989 in Context: Preceding & Following Years (1984–1994)
10-year window around 1989 showing how key indicators evolved before and after