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 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.
For any inquiries, please contact Economics@cciwa.com
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
WA business confidence has edged up over the June quarter, underpinned primarily by the removal of WA’s COVID-19 restrictions and hard border controls. While confidence has improved, it remains well below survey highs recorded across 2021, as businesses continue to grapple with skills shortages, rising cost pressures, and ongoing supply chain disruptions.
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.
- 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
Despite rising cost of living pressures and interest rates on the march, WA consumer sentiment has edged higher over the three months to June – buoyed by the easing of domestic COVID-19 restrictions and tightness in the local jobs market.
While overall confidence increased over the June quarter, WA households are becoming increasingly concerned about rising cost pressures. Indeed, ‘living costs’ became the single biggest drag on consumer confidence this quarter, reflecting anxieties around persistent supply chain disruptions and rising inflationary pressures.
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.
March 2022 Report
WA’s economy has entered 2022 on a solid footing. Robust domestic demand, a red-hot labour market and strong resources sector have set the scene for an encouraging year ahead – with the impact of Omicron expected to be short-lived.
While we’re expecting WA’s strong economic momentum to continue, significant challenges remain that pose material risks to WA’s economic and social prosperity. Rising inflationary pressures, acute labour shortages and the lack of economic diversification are all central issues that must be resolved before WA can realise its potential.
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.
On average, regional businesses are more optimistic than metro businesses in the short term but are less so over the longer term.
Around one out of two (47%) regional businesses expect stronger conditions over the next three months, compared to two out of five (42%) metro businesses.
Looking to the next twelve months, regional businesses are less optimistic, with one quarter (25%) expecting stronger conditions, slightly less than metro businesses (30%).
Produced quarterly, our inflation update provides charts and tables on consumer price trends in Perth and all the capital cities.
- Nationally, CPI rose 1.8% this quarter. Over the twelve months to June, CPI has risen 6.1%.
- In Perth, CPI rose 1.7% this quarter (compared with 3.3% in the March quarter) and is now 7.4% over the twelve months to June.
- What influenced CPI this quarter?
- The greatest contributors were new dwelling purchases (+4.8%), automotive fuel (+3.4%) and furniture (+6.8%) – these groups were also the leading contributors nationally.
- Fruit and vegetables (+7.1%) also saw a significant increase (despite not being one of the largest contributors), whilst childcare (-5.6%) fell