Commerce trends and statistics

What is the goal for economic growth (measured by GDP)

3-4%

GDP growth 1991

Recession

GDP growth 2003-2007 (Resource boom)

Boom period

GDP growth 2008 (GFC)

Downturn

GDP growth after GFC

Recovery period

GDP growth China and resource boom slows

Slower growth

GDP growth COVID period

very low

GDP growth 2022-2023

Inflation emerging

GDP growth 2023-2024 (after covid)

high growth

GDP growth 2024-2025

much slower growth

Monetary Policy 2001-2008 (resource boom)

Contractionary

Monetary Policy September 2008-2009 (GFC)

Expansionary

Monetary Policy October 2009-late 2011 (resource boom reemerging)

Contractionary

Monetary Policy late 2011 to April 2022 (transition out of the mining boom)

Expansionary

Type of budget Fiscal Policy 1991

Deficit

Type of budget Fiscal Policy 2003-2007 (Resource boom)

Surplus

Type of budget Fiscal Policy 2008 (GFC period)

Deficit

Type of budget Fiscal Policy (after GFC)

smaller deficits

Type of budget Fiscal Policy (COVID period)

big deficits

Type of budget Fiscal Policy 2022-2023 (inflation emerging)

Surplus

Type of budget Fiscal Policy 2023-2024 (growth after COVID)

surplus

Type of budget Fiscal Policy 2024-2025

deficit

What is the target for inflation?

2-3%