Economic Insight

CCIWA plays an active role in informing the business community on issues related to the State and national economy and State and Federal Government finances. And our economics team has their finger on the pulse when it comes to the Western Australian economy.

Leaning on our international and national experience, our economists link local business impact to global events. They work hard to keep our Members ahead of the pack with their knowledge of how the economy is evolving and the impact it may have on their business.

The WA Super – CCIWA Business Confidence Survey is the longest running and most comprehensive business survey in WA. Produced quarterly it covers businesses of all sizes and sectors across the state and includes:

  • Expert analysis about the short and medium-term business confidence
  • Comprehensive data regarding issues such as labour costs, profitability, and capital expenditure

Early relaxation of COVID-19 restrictions boosts short-term confidence

Almost one out of two (48%) WA businesses expect economic conditions to improve or remain unchanged over the next 3 months, up 10 percentage points since last quarter. The short-term improvement was driven primarily by an earlier than expected relaxation of social distancing restrictions and sustained evidence that Western Australia has remained free of community based COVID-19 transmission. Western Australian short-term business confidence has now recovered around 60 per cent of the fall recorded during the peak of the pandemic.

The first of its kind in the State, the CCIWA Consumer Confidence survey provides invaluable insights into the attitudes and sentiments of Western Australian consumers.

Analysis includes:

  • Short and medium-term expectations of economic conditions provided by metropolitan and regional consumers
  • The major concerns for consumers in the current economic climate – including spending habits, employment prospects and financial health

COVID-19 Drives Consumer Confidence To Record Lows

The economic fallout from the COVID-19 pandemic has driven Western Australian consumer confidence to its lowest level on record, according to the latest CCIWA Consumer Confidence Survey. Four out of five (81%) Western Australians rated COVID-19 as reducing their confidence in the June quarter, while a high number of Western Australians reported heightened concerns about their job prospects and personal financial situation.

Outlook is a biannual CCIWA publication that provides expert forward-looking economic analysis. It contains:

  • Analysis of the state, national and international economies
  • Economic forecasts on key indicators such as inflation, the labour force and employment

Produced by our well-informed and market-conscious economics team, Outlook makes sure you stay ahead of the current and expected changes in economic conditions.

August 2020 Report

Our economic Outlook – the first since COVID-19 – shows WA is in the eye of the storm. We forecast more rough conditions ahead, with a clear need for policies to spark business investment and confidence.