Age Economic Survey

  • May 2020
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Name

Siwei Goo Heather Ridout Shane Oliver Saul Eslake Brad Crofts Richard Robinson Chris Caton

Org

US GDP to Australian China GDP Australian June 2010 US GDP China Australian GDP 2009 China 2009 US GDP World GDP to (December to June GDP to GDP 2009 (December GDP 2009 (December 2009 GDP 2009 June 2010 June 2010 '08 2010 '08 forecast) '08 forecast) forecast)

ACCI AIG AMP Capital ANZ Bank AWU BIS Shrapnel BT Financial Business Council of Australia Michael Blythe Commonwealth Bank Damien Boey Credit Suisse Dun & Bradstreet David Colosimo Goldman Sachs JBWere Tony Cripps HSBC Australia Richard Gibbs Macquarie Group Peter Jones Master Builders Jakob Madsen Monash University, Economics Annette Beacher TD Securities Geoffrey Sims Telstra Neville Norman University of Melbourne John Quiggan University of Queensland Steve Keen University of Western Sydney Bill Evans Westpac

0.1 -0.4 -1 0 0.5 0 0

1.5 0.5 0.5 0.5 1.5 1.4 1.1

0.4 0 -0.9 0.3 n/a 0.2 n/a 0.5 0.5 -0.7 -1 n/a 0.4 1.2 0.5 -3 -0.6

0.4 2.2 -2 -2 2.2

1.9 2.5 1 -6 n/a 0.2

Average

-0.1

0.8

0.6

n/a

-0.5 0.9 0.7 0 0.5 0.5 1.8 n/a

1.5

7 7 7.5 7 7.5 7.5 7.5 n/a

1.2 3.5 n/a -0.1 2.2 -0.3 1.2 1.5 -1.5

0.5

1.6 1 0.5 flat

n/a 7.8 6.5 8.3 n/a 7.8 n/a 9.7 7 5.5 6.7 n/a 6.7 8.8 8

8 7 6 7.5 8 7.6 n/a 6.5 n/a 7 n/a 6.2

7.5 7 5

7.2

7 7.5 5 3 n/a 8.3

7.4

6.7

7.5 8.5 8.5 8.2 8

-3 -3 -2.5 -2.5 -2.5 -2.5 -2.8

8 n/a 8.2

-0.8 -1 -1.2 -0.8 -0.8 -0.6 -1.5 n/a

-3

-1.2 -1.5 -2 -0.8 -2 -1.9 -2.5

n/a 2.5 n/a

n/a -1

-1.5

n/a 5.75 11.1 8.7 8.5 8 4.5 7.5 7.5 9.6 8

0.5 1 1.9 -1.2 -1

n/a

-1.5 n/a

8

-3 -2.9 -1.9 -2.2 -3.5 -3.5 -2.8 -1.5 0.8 -3 -6 -3.1

-1.8 1.2 1.7 0.2 -1 -4

-1.2 1.1 -4 -5 -1.8

1.7 1.8 -3 -4 1.4

-2.9 -1.3 -1.9 -1.1 -1 -2.9 -1.9 -1.5 1.4 1 -5 -1.5

8.0

-2.7

-1.5

-0.2

-1.6

-0.8 n/a -0.8 -3 -2.5 flat

Name

Org

ACCI AIG AMP Capital ANZ Bank AWU BIS Shrapnel BT Financial Business Council of Australia Michael Blythe Commonwealth Bank Damien Boey Credit Suisse Dun & Bradstreet David Colosimo Goldman Sachs JBWere Tony Cripps HSBC Australia Richard Gibbs Macquarie Group Peter Jones Master Builders Jakob Madsen Monash University, Economics Annette Beacher TD Securities Geoffrey Sims Telstra Neville Norman University of Melbourne John Quiggan University of Queensland Steve Keen University of Western Sydney Bill Evans Westpac

World GDP Unemployment World 2009 CPI change GDP to rate at (December in 2009 December 09 June 2010 '08 forecast)

Siwei Goo Heather Ridout Shane Oliver Saul Eslake Brad Crofts Richard Robinson Chris Caton

Average

n/a

2.2 2 0 1.8 2.5 2.3 n/a 3.5 n/a 2 n/a 1

n/a n/a

1.5 2 0.7 1.2 -1 2.5 n/a 1.2

3.5 n/a 1.6 1 2

n/a 2.2 2.5 -2 -3 1.3 n/a 1.3

1.8% 2.0% 1.9% 1.8% 2.0% 2.4% 1.8%

1.6 1 -3 0.4 2 2.6 2 -4

0.9

7.0% 6.8% 7.0% 7.2% 6.5% 7.3% 6.7% n/a

1.8% 2.0% 3.0% 2.4% 2.0% 1.4% 2.0% 2.2% 1.3% 2.0% 2.8% 2.0% 0.5% 1.8% 0.0

Unemployment Budget in RBA Cash rate at Unemployment 09/10 rate at December 09 rate at June Surplus or Dec 2009 (Dec '08 2010 deficit? forecast) (billion)

n/a 7.0% 8.0% 6.5% 7.5% n/a 7.0% 7.5% 7.0% 6.8% 7.7% n/a 7.3% 6.9% 7.0% 8.0% 7.5%

5.30% 6.00% 7.00% 6.00% 7.50% 6.10% 6.00% n/a 5.80% 5.50% 6.00% 6.00% 6.00% 6.50% 6.90% 5.90% 7.50% 9.00% 5.70%

9.0% -$58.5 2.75% 7.8% -$55.0 2.50% 8.0% -$60.0 2.25% 8.0% -$30.0 2.50% 8.0% -$59.0 3.00% 7.9% n/a 2.50% 7.5% -$58.0 2.75% n/a n/a 7.0% -$50.0 2.75% 8.0% n/a 3.25% 7.3% n/a n/a 7.6% -$54.0 3.00% 6.5% -$57.5 3.00% 8.0% -$57.6 2.50% 7.5% -$55.0 2.75% 7.5% -$30.0 3.00% 8.0% -$60.0 2.25% 7.9% -$62.0 2.75% 7.1% -$18.0 3.75% 7.5% -$50.0 2.50% 12.0% -$50.0 2.00% 7.9% -$58.0 2.50% -51.3

RBA Cash RBA Cash rate at rate at Dec June 2010 2009 (Dec 08 forecast) Siwei Goo ACCI 3.00% 3.00% Heather Ridout AIG 3.25% 2.75% Shane Oliver AMP Capital 2.50% 3.50% Saul Eslake ANZ Bank 3.50% 2.50% Brad Crofts AWU 3.00% 3.00% Richard Robinson BIS Shrapnel 3.50% 2.50% Chris Caton BT Financial 4.00% 2.50% Business Council of Australia n/a n/a Michael Blythe Commonwealth Bank 3.25% 2.75% Damien Boey Credit Suisse n/a 3.75% Dun & Bradstreet 3.25% n/a David Colosimo Goldman Sachs JBWere n/a 4.00% Tony Cripps HSBC Australia 3.50% 3.00% Richard Gibbs Macquarie Group 2.50% 2.50% Peter Jones Master Builders 3.00% 3.00% Jakob Madsen Monash University, Economics 4.00% 3.00% Annette Beacher TD Securities n/a 2.00% Geoffrey Sims Telstra 3.75% 2.75% Neville Norman University of Melbourne 5.00% 5.50% John Quiggan University of Queensland 1.00% 2.50% Steve Keen University of Western Sydney 0.25% 0.50% Bill Evans Westpac 2.75% 2.50% Name

Average

Org

Size and direction of next move -0.25 -0.25 -0.25 -0.25 no move -0.25 -0.25 n/a -0.25 no move n/a n/a -0.25 -0.25 -0.25 no move -0.25 -0.25 -0.25 -0.25 -0.25 -0.25

10-yr Gov't bond yield at December 2009 5.80% 5.50% 5.00% 5.25% 5.50% 5.70% 5.60% n/a 5.20% 5.50% n/a 5.50% 5.10% 5.00% 5.50% 6.70% 4.95% 5.40% 7.20% 6.00% 5.00% 4.75%

USD/AUD at Dec 09

n/a

n/a

n/a

USD/AUD YEN/AUD EUR/AUD YEN/AUD EUR/AUD at June at June at June at Dec 09 at Dec 09 2010 2010 2010

78 79 80 74 78 74 80 n/a n/a 84 80 n/a 77 75 80 70 75 76 81 84 90 n/a 74 78.4

80 73.45 76.32 58.66 80 78 82 60 82 80 85 58 75 75 80 59 75 80 75 55 74 n/a n/a n/a n/a 78 n/a 58 n/a n/a n/a n/a n/a 89 88 102 59 85 n/a n/a n/a n/a n/a n/a n/a n/a 77 77 77 55 80 70 75 53 77 79.2 77 59 75 75 70 70 50 78 69.9 74.1 51 84 n/a n/a 58 81 82 80 58.5 90 80 80 50 n/a n/a n/a n/a 80 68 79 54 79.8

76.6

79.5

56.0

52 62 60 61 50

61

55 53 57 50 53 59.5 57 50 56 55.8

Name

Siwei Goo Heather Ridout Shane Oliver Saul Eslake Brad Crofts Richard Robinson Chris Caton

Org

ACCI AIG AMP Capital ANZ Bank AWU BIS Shrapnel BT Financial Business Council of Australia Michael Blythe Commonwealth Bank Damien Boey Credit Suisse Dun & Bradstreet David Colosimo Goldman Sachs JBWere Tony Cripps HSBC Australia Richard Gibbs Macquarie Group Peter Jones Master Builders Jakob Madsen Monash University, Economics Annette Beacher TD Securities Geoffrey Sims Telstra Neville Norman University of Melbourne John Quiggan University of Queensland Steve Keen University of Western Sydney Bill Evans Westpac Average

S&P/ASX Dow S&P/ASX 200 at S&P/ASX FTSE 100 FTSE 100 Nikkei 225 Dow Jones at Dow Nikkei 225 200 at at Dec at June at June Dec 2009 200 at Jones at Dec 2009 Jones at at Dec 09 Dec 2009 (Dec 08 June 2010 Dec 2009 (Dec 08 June 2010 2009 2010 2010 forecast) forecast) 4200 n/a

4300 n/a

4500 n/a

4500 n/a

4000 n/a

4750

4500

4200 4250 4500 n/a n/a

10000

8900

4500

8500

9900

4047.6

n/a

4500 3000 2500 4150

4560 4500 4380 4500 3000 4500 4350 5200 4200 2500 4200

4025.5

4364.1

3800 4431 n/a 3200 n/a n/a

11500

9200

n/a 8600

n/a n/a

n/a

n/a n/a 6500 9000 n/a n/a 9300 8500 7000 n/a 8677.3

n/a 9200

n/a

n/a

n/a

n/a

n/a

4000 4370 3900 4190 4000 3200 3800 4100 4650 4100 3000 3850

n/a

n/a

n/a 4650 5500 n/a

n/a

n/a

n/a

n/a 4700

9600

4500

4750

8900 n/a

n/a

n/a

n/a

8950 n/a

n/a

n/a

n/a

4400 n/a

n/a 9500 n/a n/a 9000 n/a n/a 8000 n/a 8800 8800 6000 n/a 8927.3

9100 n/a n/a 10080 n/a 9500 n/a 10600 n/a 9500 n/a n/a n/a n/a 9400 n/a n/a 6500 10800 n/a 10250 8500 6000 n/a 9111.8

n/a n/a 4800

9590 n/a 5040

n/a 4400

4400

4600

11000

5000

4200

10500

4700

4000 4600 n/a

9800

n/a

8000 11880 n/a

11000 11000 8000 n/a

4506.7

10500 n/a n/a

8000 9900

4900 4000 3000 n/a

11250 n/a n/a n/a n/a n/a

n/a n/a 4000 5520

4500 4000 4000

11500 n/a

n/a n/a n/a n/a n/a

n/a n/a

11550 n/a

n/a

n/a n/a n/a n/a n/a

4344.4

11000 n/a

n/a

10400 n/a

11500 11000 8000 n/a

9979.0

10558.0

Name

Siwei Goo Heather Ridout Shane Oliver Saul Eslake Brad Crofts Richard Robinson Chris Caton

Org

Terms of Terms of trade at trade at Dec 09 June 2010

ACCI -12.0% 1.5% AIG -10.0% -15.0% AMP Capital -18.0% -5.0% ANZ Bank -2.2% 0.8% n/a AWU -12.0% -4.0% BIS Shrapnel -18.9% -6.6% n/a BT Financial -16.0% -4.0% n/a Business Council of Australia n/a n/a n/a Michael Blythe Commonwealth Bank -8.8% 6.0% Damien Boey Credit Suisse n/a n/a n/a Dun & Bradstreet n/a n/a n/a David Colosimo Goldman Sachs JBWere -25.00% -5.00% Tony Cripps HSBC Australia -15.0% -15.0% Richard Gibbs Macquarie Group -10.0% -13.3% n/a Peter Jones Master Builders -10.0% -1.0% Jakob Madsen Monash University, Economics -15.0% -15.0% Annette Beacher TD Securities -4.0% -0.5% Geoffrey Sims Telstra -20.3% -0.9% n/a Neville Norman University of Melbourne -2.5% 3.5% -20.0% -20.0% n/a John Quiggan University of Queensland -10.0% -20.0% Steve Keen University of Western Sydney -21.6% -10.2% Bill Evans Westpac Average

$650 $695

Net foreign debt at Dec 09 (Dec '08 forecast) $756 $720 $720 $675 $706 n/a n/a n/a $685 n/a n/a n/a $706 n/a n/a $700 n/a n/a $710 n/a $750 $693

$699.8

$711.0

Net foreign debt at Dec 09 $690 $694 $710 $710

$692

$717 $695 $750 $710 $680 $705

Current Current Net account account foreign balance at balance at debt at Dec 09 June 2010 June 2010 (billion) $729 $710 $735

-$51.8 -$20.0 -$55.0 -$41.0 -$35.0 -$52.0 -$42.0

n/a $735 $764 n/a n/a

n/a $708

n/a n/a

n/a -$41.3

n/a n/a $748 $715

-$54.6 n/a n/a

-$53.2 -$42.0 -$17.2 -$40.0 -$60.0 -$37.0 -$46.3 -$34.0

n/a $755 $760 $682 n/a $725 n/a

-$72.6 -$10.0 -$50.0 -$57.0 -$60.0 -$59.3 -$55.0

n/a

-$68.4 -$44.0 -$17.0 -$45.0 -$65.0 -$56.0 -$51.6 -$40.0 n/a

$675 $712

-$40.0 -$46.0

-$30.0 -$66.0

$725.2

-$41.9

-$50.1

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