WA’s resources sector is continuing to provide a bright spot for Australia’s economic data as it is once again proved that our mining investment is propping up the economy as highlighted in the latest look at the nation’s accounts.
The national accounts data saw a 1.3% increase in mining investment over the last quarter, despite the gloomy economic data that showed the biggest single quarterly decline in the nation’s Gross Domestic Product and an overall 6.9% decline in non-mining private businesses.
“As always, I am thankful to Western Australia for its strong mining sector and Queensland’s mining sector and, indeed, mining right around the country,” said Federal Treasurer Josh Frydenberg for WA’s contribution in keeping the economy strong and many Australians employed.
The positive mining narrative was also championed with the Minerals Council of Australia Tania Constable who recently commented that 32,000 jobs could be created by the Federal Government with the right reforms in next month’s Budget, as first reported by The West Australian last week.
“In the national effort to rebuild from the COVID-19 pandemic, the minerals industry will continue to deliver on its contribution to Australia,” said Ms Constable.
This is a brief summary of the article ‘WA’s iron ore-some results’ by Lanai Scarr | The West Australian | Thursday 3rd September 2020.