Economic activity surprises markets to the upside: According to a preliminary reading, GDP growth edged up to 4.5% year on...
Private Consumption in Australia
The Australian economy recorded an average growth rate of 2.1% in private consumption in the decade to 2024, same level as the % average for . In 2024, the growth of private consumption was0.6%. For more information on private consumption, visit our dedicated page.
Australia Private consumption Chart
Note: This chart displays Private Consumption (annual variation in %) for Australia from 2014 to 2024.
Source: Macrobond.
Australia Private consumption Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Private Consumption (ann. var. %) | -6.0 | 5.0 | 7.4 | 2.5 | 0.6 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Australian private consumption projections for the next ten years from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for Australian private consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Australian private consumption projections.
Want to get access to the full dataset of Australian private consumption forecasts? Send an email to info@focus-economics.com.
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