WA currently leads the nation in three of eight indicators used by CommSec to measure economic strength over the past year — retail trade, equipment investment and construction work. The state recorded the nation’s second highest level of economic growth in the June quarter trailing Victoria by just 3.2% although this could be short lived if the state borders continue to remain closed heading into the new year.
“The progress that’s been achieved in suppressing the virus has enabled the WA economy to have a degree of normalcy but, of course, there will be challenges over the next couple of months if the borders stay closed…You wonder what can provide momentum to the economy. If the borders stay shut, you don’t have that flow through of people internally or from overseas providing that degree of activity and income.” Said Mr James.
This is a brief summary of the article ‘Star Performer’ by Daniel Newell | The West Australian | Monday 26th October 2020.