This paper describes forecasts generated by the MONASH model of the Australian economy. MONASH divides the economy into 112 industries and 6 states (ACT is included in NSW and NT is included in South Australia). As is apparent from Figure 1, MONASH produces forecasts for industries and regions, taking account of forecasts for particular aspects of the economy prepared by specialist organizations. Here we use:
• macro forecasts from Syntec,
• tourism forecasts from the Bureau of Tourism Research,
• forecasts of tariffs and subsidies from the Industry Commission, and
• forecasts of quantities and prices of agricultural and mineral exports prepared by the Australian Bureau of Agricultural and Resources Economics.
The paper is divided into three sections. First we consider the Australian economy at the macroeconomic and sectoral levels. Then we look at the States and industries in more detail. The final section contains brief concluding remarks.