Output gap as a percentage of potential GDP reached -0.631 % in 2019 in Australia, according to the National Statistical Office. This is 86.1 % more than in the previous year.
Historically, output gap as a percentage of potential GDP in Australia reached an all time high of 1.69 % in 1989 and an all time low of -4.81 % in 1983.
Australia has been ranked 22nd within the group of 27 countries we follow in terms of output gap as a percentage of potential GDP, 19 places behind the position seen 10 years ago.
The output gap (or the GDP gap) is the difference between actual GDP or actual output and potential GDP.