CCIWA plays an active role in informing its stakeholders – businesses, families, consumers and the WA workforce – on issues related to the State and Federal economies and finances. 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 and stakeholders ahead of the pack with their knowledge of how the economy is evolving and the impact it may have on their business, workforce and the wider WA community.
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
Labour shortages and rising costs temper longer term business outlook
While immediate confidence levels remain at relative highs across the WA business community, confidence in the longer term outlook has taken a hit, signalling that the economic party WA has enjoyed may be drawing to a close as WA looks to emerge from its COVID bubble. A cocktail of rising material costs, ongoing skilled and unskilled labour shortages, and the reintroduction of hard border restrictions with NSW and Victoria has dented the confidence of WA businesses, sending the longer-term outlook to a 12-month low.
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.
- 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 confidence holds its nerve as Covid-19 concerns continue.
The tide may be turning but consumer confidence in WA remains far off the rocks. Western Australian consumer confidence ebbed slightly in the September quarter after swelling to record highs in March.
While the general mood has receded, both short and longer term expectations remain well above pre-pandemic levels – indicating the swell is still strong for the economy.
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 2021 Report
When COVID-19 first arrived on Western Australia’s shores just over one year ago, the WA economy copped a belting. In the blink of an eye, the domestic economy collapsed to the same level it was in 2010, nearly 100,000 jobs evaporated, and community sentiment plummeted to record lows.
Since then, COVID-19 has hardly landed a punch, and the domestic economy has climbed off the canvas and roared back to life. Indeed, Western Australia is one of very few jurisdictions (globally) that has officially transitioned from ‘recovery’ to ‘expansion’.
In this edition of Outlook, we unpack the key forces underpinning WA’s remarkable recovery and outline how the economy could evolve in the months and years ahead.
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.
On average, a higher proportion of businesses in most WA regions are expecting stronger conditions over both the short and longer-term compared to those expecting weaker conditions.
Looking to the next three months, six out of ten (62%) businesses in regional WA expect conditions to strengthen – more than five times the proportion expecting conditions to worsen (11%).
Regional businesses are less optimistic over the longer term, with just over one-third (34%) anticipating conditions to improve. More than one out of four (28%) expect conditions to worsen, while the remainder (37%) anticipate no change.
Produced quarterly, our inflation update provides charts and tables on consumer price trends in Perth and all the capital cities.
- Perth CPI rose 0.8 per cent over the June quarter and 3.2 per cent over the year.
- What influenced the CPI this quarter?
- Electricity (+13.4%) due to the end of the Western Australian Government’s $600 household electricity credit payments.
- Automotive fuel (+6.8%).
- Rents (+2.8%) due to strong demand reflected in low vacancy rates.
- Furniture (+3.2%) due to global supply chain disruptions.
- New dwelling purchase (-2.3%) fell in Perth due to base price rises being offset by additional promotional offers and an increase in government housing construction grant payments. your content.