Macroeconomic indicators 2017-18

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 spreadsheet below 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.