Annual Macroeconomic Snapshot • 1990s
The Australian Economy in 1996
In 1996, Australia’s Estimated Resident Population stood at 18,330,079, real GDP growth averaged 4.0%, annual CPI inflation averaged 2.6% and the unemployment rate averaged 8.5%.
- • The RBA overnight/target cash rate ended 1996 at 6.18%, while 10-year Australian Government bond yields averaged 8.21%.
- • The Australian Dollar averaged US$0.7826 against the US Dollar during 1996.
1996 Economic Indicators at a Glance
% p.a.
Rank #61 of 104 yrs
Inflation (CPI) in 1996
2.6% Long-run avg: 4.0%
-2.0 pp %
Rank #7 of 77 yrs
Unemployment Rate in 1996
8.5% Long-run avg: 4.8%
0.0 pp % p.a.
Rank #33 of 77 yrs
Real GDP Growth in 1996
4.0% Long-run avg: 3.4%
+1.0 pp Persons
Rank #31 of 126 yrs
Population in 1996
18.33M Long-run avg: 12,689,752
+210,463 % p.a.
Rank #92 of 125 yrs
Population Growth in 1996
1.16% Long-run avg: 1.61%
-0.10 pp % p.a.
Rank #22 of 78 yrs
10-Year Bond Yield in 1996
8.21% Long-run avg: 6.63%
-1.00 pp % p.a.
Rank #21 of 51 yrs
RBA Cash Rate in 1996
6.18% Long-run avg: 6.48%
-1.32 pp US$ per A$1
Rank #35 of 67 yrs
AUD/USD Exchange Rate in 1996
US$0.7826 Long-run avg: US$0.8921
+0.0413 % of disposable income
Rank #49 of 68 yrs
Household Saving Ratio in 1996
5.7% Long-run avg: 9.0%
+1.4 pp % of GDP
Rank #24 of 68 yrs
Trade Balance (% GDP) in 1996
-0.2% Long-run avg: -0.5%
+1.2 pp '000 dwellings / month
Rank #52 of 62 yrs
Dwelling Approvals in 1996
121.1k Long-run avg: 152.7
-10.6 % p.a.
Wage Growth (WPI) in 1996
N/A Series commenced later
1996 in Context: Preceding & Following Years (1991–2001)
10-year window around 1996 showing how key indicators evolved before and after