WA IS SAILING THROUGH THE ECONOMIC STORM

The State Governments hard border closure, the ongoing strength in the mining sector and the states low reliance on international students is driving WA to outperform its neighbouring states in terms of economic growth according to recent data from the Westpac Australia’s, ‘Australia’s growth prospects report’.

The report indicates that the state’s economy is estimated to grow 4% in the September quarter and 3% in the December quarter whilst the Bankwest Curtin Economics Centres largest labour market report also indicates that the labour market is already affectedly recovering from the major job losses in April and May.

Long-term strategic thinking is vital in order to maintain our economic recovery where a strong focus will be on boosting infrastructure and development to ensure the State is in a strong position moving forward.

This is a brief summary of the article ‘WA’s economy weathers short-term economic storm’ by Col Dutton | The West Australian | Saturday 22^nd August.