Western Australian consumer confidence has remained subdued in the short term and has slipped in the longer-term over the September quarter. The ongoing high cost of living continues to strain household cash flows, while international headlines exacerbate household concerns.
The September quarter saw global economic headlines take over as the second most prevalent concern for Western Australians. This comes at a time when conflict in the Middle East continues to threaten critical supply chains and China’s property sector stumbles, while the upcoming US election is creating additional uncertainties. As a result, almost three in five (57%) households reported international headlines as dampening their outlook on the economy.
On the flipside, WA’s labour market continues to propel the local economy, remaining stronger than the rest of the nation. WA’s unemployment rate remained steady at 3.7% in July, well below the 4.2% reported nationally. This has seen three in every 10 (30%) Western Australians reporting their job prospects have bolstered their confidence.
Additionally, the State Government continues to play a key role in supporting consumer sentiment, likely reflecting the recent round of electricity subsidies taking effect.
In this edition of the CCIWA Consumer Confidence Survey, we ask Western Australians how their living standards have changed, their attitudes toward various energy sources, what their priorities are in the energy transition and what influences their brand preferences.
