Economic Insight

CCIWA’s specialist economics team provides your business with in-depth market intelligence that is relevant to the West Australian economy.

For any inquiries, please contact Economics@cciwa.com

60-second Economic Wrap

CCIWA Principal Economist James Walsh gives an informative rundown of the latest economic news impacting your business.

The 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

Western Australian business confidence has edged down over the September quarter, as skilled labour shortages and rising cost pressures continue to bite. Indeed, confidence levels for the next 12 months are approaching lows not seen since the beginning of the pandemic.

Previous Business Confidence Reports

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

WA consumer sentiment has dropped over the three months to September as cost-of-living pressures grow and interest rates continue to climb.

Western Australians remain highly concerned about rising inflationary pressures, as living costs continues to be the single biggest drag on consumer confidence this quarter – affecting 3 in 4 WA households. This reflects rising inflationary pressures – both here and abroad – brought on by persistent global supply chain disruptions, strong demand for goods, and soaring energy prices. Despite this shift in sentiment, we are yet to see an adjustment in spending, with retail turnover remaining more than 30 per cent above pre-covid levels.

Previous Consumer Confidence Reports

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.

For further information, please contact Economics@cciwa.com

September 2022 Report

The world economy is at a turning point. More than two years of strong economic momentum has come to an end, and it is clear we are in a very different environment to this time six months ago. But amidst an increasingly turbulent and unpredictable global economic backdrop, Western Australia’s economic fundamentals remain on a solid footing and we are well positioned to navigate the next 12 months and beyond.

In this edition of Outlook, we unpack the key forces underpinning WA’s recent economic performance and outline how the economy could evolve in the months and years ahead.

Previous Economic Outlook Reports

Western Australia’s regions are the engine room of the WA economy, supporting a range of key export industries, including resources, agriculture and tourism.

Regional Pulse breaks down key results from the CCIWA Business Confidence Survey, providing insights into the conditions facing businesses in WA’s regional centres. The report contains:

  • Comprehensive data on key economic indicators across the regions, including profitability, capital expenditure, production, labour costs and employment.
  • The major barriers facing regional businesses over the next 12 months.
October 2022

On average, regional businesses are slightly less optimistic than metro businesses in the short term but have similar expectations over the longer term.

Around two in five (41%) regional businesses expect stronger conditions over the next three months – three percentage points less than metro businesses (44%).

Looking to the next twelve months, regional and metro businesses have similar levels of confidence, with one in five (21%) regional businesses expecting stronger conditions, a similar proportion to metro businesses (22%).

Produced quarterly, our inflation update provides charts and tables on consumer price trends in Perth and all the capital cities.

September 2022
  • Nationally, CPI rose 1.8% in the September quarter, with inflation now 7.3% over the 12 months.
  • Perth was the only capital city to record a fall in inflation this quarter of -0.5% (compared with 1.7% in the June quarter).
  • What influenced CPI this quarter?
    • The electricity subsidy in WA saw electricity fall 84.3% over the quarter, while utilities fell 41.6%.
    • Automotive fuel also fell over the quarter (-5.8%) due to the reductions in crude oil prices globally.
    • International holidays & accommodation (+14.9%), Fruit and vegetables (+5.4%) and Childcare (+4.9%) saw the largest rises over the quarter.