Economic Snapshot - April 2023

Key Economic Indicators

The rolling annual change of 10 key indicators feature in the Economic Snapshot for April 2023.

Please note that some indicators are not measured monthly, hence there may be come delays in the data that is readily available.


Cash Rate

April 2022

0.10%

April 2023

3.60%

The cash rate has increased from 0.10% in April 2022, to 3.60% in April 2023.


GDP Growth

March 2022

3.0%

December 2022

2.7%

GDP growth has decreased from 3.0% in the year ended March 2022, to 2.7% in the year ended December 2022.


Unemployment

March 2022

3.9%

March 2023

3.5%

Unemployment has decreased from 3.9% in March 2022, to 3.5% in March 2023.


Inflation

March 2022

5.1%

March 2023

7.0%

Inflation has increased from 5.1% in the year ended March 2022, to 7.0% in the year ended March 2023.


Wage Growth

December 2021

2.4%

December 2022

3.3%

Wage growth has increased from 2.4% in the year ended December 2021, to 3.3% in the year ended December 2022.


Average Weekly Earnings (Full-Time Adult Ordinary Time)

November 2021

$1 748.40

November 2022

$1 807.70

Average weekly earnings (full-time adult ordinary time) have increased from $1 748.40 in November 2021, to $1 807.70 in November 2022.


Australian Dollar

March 2022

0.74 USD

March 2023

0.67 USD

The Australian Dollar has depreciated from 0.74 USD in March 2022, to 0.67 USD in March 2023.


Population Growth

June 2022

26.0 million

April 2023

26.5 million

Australia's population increased from 26.0 million people in June 2022, to 26.5 million people in April 2023.


Household Wealth as a Share of Income

December 2021

966%

December 2022

878%

Household wealth as a share of income has decreased from 966% in December 2021, to 878% in December 2022.


Household Debt as a Share of Income

December 2021

188%

December 2022

188%

Household debt as a share of income has remained unchanged between December 2021 and December 2022.


Economic Data Sources

Cash Rate

https://www.rba.gov.au/

GDP Growth, Unemployment & Inflation

https://www.abs.gov.au/statistics/economy/key-indicators

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

https://tradingeconomics.com/australia/indicators

Wage Growth

https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/wage-price-index-australia

Average Weekly Earnings

https://www.abs.gov.au/statistics/labour/earnings-and-working-conditions/average-weekly-earnings-australia

Australian Dollar

https://www.rba.gov.au/

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

Population

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/

https://www.abs.gov.au/AUSSTATS/abs%40.nsf/Web%2BPages/Population%2BClock?opendocument=&ref=HPKI

Household Wealth & Household Debt as a Share of Income

https://www.rba.gov.au/education/resources/digital-interactives/snapshot-comparison/


You can find previously completed Economic Snapshots here.


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