This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit.

On 4^thSeptember 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%.

However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian).

Given the economic conditions described above, predict how the following key macroeconomic variables would be like for the quarter ending June 2019.

• Real GDP
• Unemployment rate
• Inflation