Navigating the Australian Economy: Insights from the January 2024 Chart Pack

⚡️ Highlights:

1. The Chart Pack provides a summary of macroeconomic and financial market trends in Australia and information about developments for trading partners.

2. Starting from February 2024, the graphs in the Chart Pack will be updated eight times a year following the release of key data, such as the National Accounts and CPI inflation.

3. The Chart Pack is released the day after each Reserve Bank Board meeting.

4. The Reserve Bank publishes extensive statistical data on their website, including the source data for the Chart Pack graphs.

5. The Chart Pack covers a wide range of topics, including the world economy, Australian growth, inflation, household and business sectors, credit and money, labor market, government, commodity prices, balance of payments, central bank balance sheets, interest rates, share markets, bond issuance, exchange rates, and banking indicators.


As we embark on 2024, understanding the current economic landscape is crucial for decision-makers and the public alike. The “Chart Pack | January 2024” offers an in-depth look at the Australian economy and its position within the global economic context. Let’s delve into these insights, interpreting what they mean for Australia’s economic trajectory.

Global Economic Context

  1. Major Trading Partner GDP Growth: The year-ended growth rates of Australia’s major trading partners have shown varied trends, highlighting the diverse impact of global economic factors across different regions.
  2. GDP Growth in G3 Economies: The G3 economies (U.S., Euro area, Japan) have displayed distinct growth patterns, reflecting their unique economic challenges and policies.

Australian Economic Landscape

  1. GDP Growth: Australia’s GDP growth has seen fluctuations, reflecting the interplay of various domestic and international economic forces.
  2. Inflation Trends: The chart pack provides a detailed breakdown of inflation trends, including tradable and non-tradable inflation, offering insights into consumer pricing dynamics.
  3. Household Sector Dynamics: Critical indicators such as household income, consumption, saving ratios, and dwelling investment offer a snapshot of the Australian household’s financial health.
  4. Business Sector Overview: The document provides insights into business investment, lending rates, and survey results, painting a picture of the business climate in Australia.
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Labour Market and Productivity

  1. Employment and Participation Rates: These rates give a clear picture of labour market health, showing how many people are working or seeking work.
  2. Underutilisation Rates: A critical indicator of labour market slack, this metric combines unemployment and underemployment rates, offering a broader view of labour market challenges.

Regional and Industry-Specific Trends

  1. State Share of Output: This section highlights the economic contributions of different states, underlining regional economic disparities or strengths.
  2. Industry Share of Output: By examining the output share of various industries, one can understand the changing landscape of Australia’s industrial sector.

Concluding Thoughts

The January 2024 Chart Pack provides a comprehensive overview of Australia’s economic situation. From global economic influences to regional and industry-specific trends, these charts offer valuable insights for understanding the current economic climate and anticipating future trends.



Source: Reserve Bank of Australia 2024 OR Source: RBA 2024

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