City of Wollongong Economic Insight Report - December 2019
City of Wollongong's economy will inevitably be influenced by a number of macro forces that are outside its control. Tracking key state and national indicators will identify trends that could impact future local prosperity.
Economic growth at the national level in the December quarter was down marginally from the last quarter but slightly higher than the December quarter in 2018. The unemployment rate was down in the December quarter to 5.1%.
Economic growth at a state level was unchanged.
Sources: ABS 5206.0 - Australian National Accounts (GDP & State Final Demand chain volume, trend, qtrly change); ABS 6401.0 - Consumer Price Index (State figure is for Sydney); RBA Exchange Rates – Average of three months; ABS 6202.0 - Labour Force (unemployment rate, average of three months, trend); ABS 8501.0 - Retail Trade (turnover, chain volume, qtrly change); ANZ-Roy Morgan Business Confidence Rating (average of three months)