WA Economic Outlook

Analysis

WA Economic Outlook - April 2018

Getting back on the bike

The WA Economic Outlook is a summary of the Deloitte Access Economics Business Outlook publication with a specific focus on the Western Australian economy.

WA Economic Outlook - April 2018

The green shoots we identified in December have continued to grow. While there are increasing signs that that worst is over for the WA economy, the domestic economy continues to lag WA’s international performance. 

  • As global growth has picked up, so has demand for WA’s commodities. We expect export growth will continue to be the state’s most important economic engine over the next five years.
  • Confidence is translating well into employment growth. The number of people employed in WA has increased by around 54,600 since the September 2016 peak in unemployment.
  • While positive, don’t expect the good old days. Business investment remains weak and is unlikely to return to boom time highs. Domestic demand is still weak with retail and property taking a beating.
  • For the state government, budget repair requires tough spending decisions to boost growth where possible, while keeping the deficit on a tight leash.
  • There are also risks:  a significant downturn in Chinese growth would weigh heavily on WA; an escalating trade war could undermine exports earnings; an increase in interest rates could undermine already weak consumption within the state. 
  • We believe the likelihood of these risks materialising in the short term as relatively low. By then, WA should hopefully be back in the saddle.

WA Economic Outlook - April 2018

Download here
  • Contact us
  • Our solutions

    Progress your business growth and development

    Take a look at the products and services we offer.

    Deloitte Access Economics

    Deloitte Access Economics offers a full suite of economic advisory services including economic forecasting, modelling, analysis and advisory services to help our clients plan for the future, understand the implications of major decisions, and navigate the complexities of economic policy.

    Macroeconomic policy and forecasting

    Economic forecasting, modelling analysis and advisory services are combined to assist clients determine the impact of changes to economic policy and the macroeconomic outlook on their business, industry and region.

    CGE modelling

    Deloitte Access Economics is a leading provider of CGE modelling which is used to assess the economic impact of major projects and policy changes.

  • Our latest reports and thought leadership
  • Read the media release
Did you find this useful?