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

Jobs, profits and outlook shattered by COVID-19

Six out of seven (86%) WA businesses expect the WA economy to worsen or remain unchanged over the next 3 months. The sharp decline in confidence was driven by concerns about the fallout of temporarily shutting down a significant portion of the WA economy over the coming months to contain the spread of COVID-19. Almost all WA businesses (91%) are currently being affected or expect to be affected by the COVID-19 outbreak.

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 confidence to three year lows

The confidence of Western Australian consumers has plunged to its lowest level in three years, driven by fear about the global spread of COVID-19. The survey shows an eight percentage point decline in the short-term outlook, with only 15 per cent of Western Australians now expecting better conditions in the next three months.

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.

January 2020 Report

Western Australia’s economy begins the decade with weak business and dwelling investment, a contracting domestic economy and subdued economic activity. By these measures the economy is treading water, reinforcing the view that WA is merely surviving, not thriving.