The Department of Treasury and Finance (DTF) monitors economic conditions in
the Victorian economy and prepares forecasts of the main economic indicators
of those conditions twice yearly for the current and four-ensuing years (the
out-years). The economic forecasts underpin the Government's fiscal outlook
presented in the Budget and Budget Update.
The key economic indicators forecast growth in real gross state product (GSP)
and the level of nominal GSP; growth in employment and the unemployment rate;
growth in wages; growth in consumer prices (the CPI) and population growth.
For further information refer to the Macroeconomic indicators methodology for
making forecasts of macro-economic indicators.