Deloitte Access Economics
Northern Territory. Department of Treasury and Finance. Economic Group
Deloitte Access Economics; E-Journals; PublicationNT; Economic brief
2022-03-31
This publication contains many links to external sites. These external sites may no longer be active.; Made available by the Library & Archives NT via the Publications (Legal Deposit) Act 2004 (NT).; Released: 25 April 2022 | Next release: July 2022
English
Northern Territory -- Economic conditions -- Periodicals
Northern Territory Government
Darwin
Economic brief
Brief, March quarter 2022
application/pdf
Attribution International 4.0 (CC BY 4.0)
Northern Territory Government
https://creativecommons.org/licenses/by/4.0/
https://hdl.handle.net/10070/863981
https://hdl.handle.net/10070/863982
Deloitte Access Economics Department of TREASURY AND FINANCE Page 3 of 3 Caution is advised when using monthly data for the Territory, as it is often derived from small samples and can be highly volatile. Although due care has been exercised in preparing this material, no responsibility is accepted for any errors or omission. More information Economic Group | Department of Treasury and Finance P: 08 8999 6718 | E: economics.dtf@nt.gov.au | W: nteconomy.nt.gov.au Table 1: Deloitte Access Economics Business Outlook 2021-22 2022-23 2023-24 2024-25 2025-26 5 year average Northern Territory Gross state product Constant price ($M) 26 244 27 692 27 577 28 302 29 982 % change 0.2 5.5 -0.4 2.6 5.9 2.8 NT as a share of Australian output % 1.3 1.3 1.2 1.2 1.3 Real final demand Constant price ($M) 26 471 27 798 28 777 29 525 30 706 % change 6.4 5.0 3.5 2.6 4.0 4.3 Private consumption Constant price ($M) 11 383 12 134 12 378 12 464 12 823 % change 4.1 6.6 2.0 0.7 2.9 3.3 Private housing investment Constant price ($M) 619 558 545 555 571 % change -13.7 -9.9 -2.3 1.8 2.9 -4.2 Private engineering and commercial investment Constant price ($M) 2 059 2 349 2 540 2 710 2 857 % change 50.2 14.1 8.2 6.7 5.4 16.9 Private equipment investment Constant price ($M) 877 932 1 088 1 207 1 301 % change 4.9 6.3 16.8 10.9 7.8 9.3 International goods exports Constant price ($M) 13 401 14 259 13 780 14 705 15 309 % change 9.5 6.4 -3.4 6.7 4.1 4.7 International goods imports Constant price ($M) 4 296 3 160 2 621 2 528 2 678 % change 65.4 -26.4 -17.1 -3.5 5.9 4.9 Retail turnover Constant price ($M) 3 431 3 535 3 588 3 611 3 706 % change -0.6 3.0 1.5 0.6 2.6 1.4 Total population Persons (000) 246 247 251 255 259 % change -0.2 0.6 1.4 1.7 1.7 1.0 Population aged 15 and over Persons (000) 194 195 199 203 207 % change -0.1 0.9 1.8 2.0 2.0 1.3 Employment Persons (000) 131 135 137 139 142 % change 0.2 2.5 1.7 1.7 1.7 1.6 Unemployment Persons (000) 5 5 5 5 6 Unemployment rate % 3.6 3.4 3.5 3.8 4.0 3.7 Consumer Price Index % change 6.0 3.4 2.2 2.4 2.4 3.3 Average Weekly Earnings $ 1 526 1 589 1 638 1 687 1 739 % change 5.0 4.1 3.1 3.0 3.0 3.6 Wage Price Index % change 2.4 3.1 2.7 2.8 2.9 2.8 Source: Deloitte Access Economics Business Outlook; Department of Treasury and Finance Table 2: Deloitte Access Economics Business Outlook forecasts by jurisdiction, rank Rank NT NSW Vic Qld SA WA Tas ACT GSP growth 8 5 2 4 3 6 1 7 State final demand 2 8 3 5 4 6 1 7 Population growth 8 3 7 1 4 2 6 5 Employment growth 7 6 3 2 4 1 5 8 Unemployment rate* 2 4 5 7 8 3 6 1 CPI* 8 2 1 6 3 7 4 5 WPI 5 3 4 6 2 1 8 7 GSP growth 1 2 3 5 8 6 7 4 State final demand 1 2 3 6 5 4 8 7 Population growth 5 6 4 1 7 2 8 3 Employment growth 3 2 6 4 8 7 5 1 Unemployment rate* 2 3 4 7 8 5 6 1 CPI* 4 8 7 2 6 1 3 5 WPI 7 8 5 4 1 3 2 6 GSP growth 4 3 1 2 8 5 7 6 State final demand 1 5 2 4 6 3 7 8 Population growth 3 6 4 1 7 2 8 5 Employment growth 5 4 3 1 8 2 6 7 Unemployment rate* 2 3 4 6 8 5 7 1 CPI* 8 6 3 5 4 1 2 7 WPI 5 6 4 7 1 3 2 8 e: estimate f: forecast Highest = 1 Lowest = 8 *Ranking reversed Source: Deloitte Access Economics Business Outlook; Department of Treasury and Finance Five year average annual growth 2021-22 to 2025-26 2021-22e 2022-23f