Annual Macroeconomic Snapshot • 1990s
The Australian Economy in 1997
In 1997, Australia’s Estimated Resident Population stood at 18,510,004, real GDP growth averaged 4.7%, annual CPI inflation averaged 0.2% and the unemployment rate averaged 8.4%.
- • The RBA overnight/target cash rate ended 1997 at 5.00%, while 10-year Australian Government bond yields averaged 6.95%.
- • The Australian Dollar averaged US$0.7422 against the US Dollar during 1997.
1997 Economic Indicators at a Glance
% p.a.
Rank #95 of 104 yrs
Inflation (CPI) in 1997
0.2% Long-run avg: 4.0%
-2.4 pp %
Rank #9 of 77 yrs
Unemployment Rate in 1997
8.4% Long-run avg: 4.8%
-0.1 pp % p.a.
Rank #21 of 77 yrs
Real GDP Growth in 1997
4.7% Long-run avg: 3.4%
+0.7 pp Persons
Rank #30 of 126 yrs
Population in 1997
18.51M Long-run avg: 12,689,752
+179,925 % p.a.
Rank #108 of 125 yrs
Population Growth in 1997
0.98% Long-run avg: 1.61%
-0.18 pp % p.a.
Rank #24 of 78 yrs
10-Year Bond Yield in 1997
6.95% Long-run avg: 6.63%
-1.26 pp % p.a.
Rank #26 of 51 yrs
RBA Cash Rate in 1997
5.00% Long-run avg: 6.48%
-1.18 pp US$ per A$1
Rank #46 of 67 yrs
AUD/USD Exchange Rate in 1997
US$0.7422 Long-run avg: US$0.8921
-0.0404 % of disposable income
Rank #51 of 68 yrs
Household Saving Ratio in 1997
5.3% Long-run avg: 9.0%
-0.4 pp % of GDP
Rank #16 of 68 yrs
Trade Balance (% GDP) in 1997
0.3% Long-run avg: -0.5%
+0.5 pp '000 dwellings / month
Rank #37 of 62 yrs
Dwelling Approvals in 1997
142.6k Long-run avg: 152.7
+21.5 % p.a.
Wage Growth (WPI) in 1997
N/A Series commenced later
1997 in Context: Preceding & Following Years (1992–2002)
10-year window around 1997 showing how key indicators evolved before and after