AEIR 2019/2020

GDP growth slipped to 2.1% in Q4 of 2019 from 2.2% in Q3. Weaker fixed investment reduced growth by 0.9 percentage points (ppts), while consumption added 1.5 ppts, net exports 0.4 ppts, and change in inventories 0.7 ppts. Between January and February 2020, consumer and business sentiment improved but remained negative—Australian Industry Group performance dropped further to 44.3, while unemployment fell marginally to 5.1%. Inflation rose to 1.8% in Q4 but remained below target. With the impact of the 2019–2020 bushfires and COVID-19, GDP is expected to contract by 0.6% in 2020. The central bank’s accommodative monetary policy stance will allow support for stimulus packages to help growth recover to 3.8% in 2021.
Source: Asian Development Outlook 2020, ADB
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 3.0 (Jul20)3.0 4.0
Broad Money Growth 2 23.1 (May20)23.1 23.5
Headline Inflation Rate 3 -0.4 (Jun20)1.6 0.0
Industrial/ Manufacturing Production Growth Rate 3 2.5 (Mar20)1.7 0.0
Merchandise Export Growth 3 -11.8 (Jun20)-11.8 -19.9
Exchange Rate Index 4 93.7 (Jul20)91.9 93.0
1 Monthly average, local index.
2 %.
3 y-o-y, %.
4 Monthly average, January 2006 = 100, $/local currency.
Source: Bloomberg LP; CEIC database.

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