Macroeconomic Indicators 2012-13

The Department of Treasury and Finance forecasts a number of macroeconomicaggregates for inclusion in the budget papers. These forecasts have three main purposes: * they provide a framework for presenting the economic context in which the budget is developed; * most of the economic aggregates or their sub-components are used in the modelling of taxation and other revenue lines; and * forecasts of nominal gross state product (GSP) are used to express key financial aggregates in relation to the size of the economy, such as non-financial public sector net debt to nominal GSP. The data source contains the seven published aggregates for the budget papers(Budget and Budget Update): * real GSP growth; * level of nominal GSP; * employment growth; * unemployment rate; * growth in the consumer price index; * growth in the wage price index; and * annual population growth.