WA Economic Outlook


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

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