Economic Indicators and Past Budget Stances (Unit 4 Topic 2)  

Australia Real GDP growth 1999 - 2026 :: interactive graph 

GDP Growth: Measuring the Economy's Performance
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Gross Domestic Product (GDP) measures the total value of all goods and services an economy produces. GDP growth rate is probably the single most important indicator of economic performance, showing whether output is expanding, stalling, or contracting.
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The rate matters because growth underpins living standards. When GDP expands, businesses invest, employment rises, and incomes tend to grow.
 
When growth begins to slow - and sometimes becomes negative - the consequences reverse: unemployment rises, inflation falls and household living standards decline. This is why both the Government and the Reserve Bank monitor the figure closely.
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The interactive graph traces Australia's GDP growth since 1999, allowing you to examine the periods of expansion, the major economic shocks, and the downturns that have shaped the economy.