What's going on with ABS population numbers?

I expected Thursday’s official population data for Q2 2024 to deliver a strong print.

The monthly permanent and long-term arrivals data from the Australian Bureau of Statistics (ABS) stated that a record volume of net arrivals had landed in Australia in the first 10 months of 2024; albeit volumes have slowed since February.

The ABS’s Q3 national accounts release last week also indicated that Australia’s population grew by nearly 640,000 people over the year, barely retracing from the peak.

Population change implied by national accounts

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

What’s going on with ABS population numbers?