WA Economic Outlook
Down but not out
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 - March 2017
Western Australia continues to feel the cold hard reality of the commodity cycle but economic conditions in WA should steady from 2018. However, the new State Government has its work cut out.
- Forecasts suggest WA domestic economic growth will fall by a further 4% in 2017 before a return to growth in 2018
- Domestic growth is projected to rise by 2.1% in 2018 as private consumption recovers and the decline in private investment bottoms out
- The State’s long term economic future remains wedded to Asia, and while that future is bright, the growth dynamic is unlikely to be as spectacular as the last decade
- But in the short term, State finances are a challenge: the new State Government faces a difficult task in supporting growth while repairing the public balance sheet.