Today the ABS released economic statistics for the September 2021 quarter for the Australian economy. The WA economy for September 2021 grew by 0.6%.
Western Australia’s State Final Demand – a GDP equivalent – increased by 0.6% for the quarter. This comes after in the March 2021 quarter, WA grew by a massive 3% and the June quarter recording a 1.2% growth.
That means WA has achieved a growth percentage of 4.8% for the first nine month of 2021, which is a great sign, despite the slowed growth for the WA economy September 2021 quarter.
Victoria and NSW both recorded a negative growth number which saw the national economy contract by 0.6%. Queensland saw the highest growth number with a growth of 1.8% for the quarter.
The growth for the September quarter in WA was driven by an increase in household consumption. However, the slow-down in growth was caused by a 1.5% decrease in private capital formation which resulted from decrease in investment by mining businesses as well as a decrease in non-dwelling construction.
Despite the slowing growth, the WA economy has had a fantastic year and we would certainly have been happy with 0.6% growth for a quarter compared to some of the recent years.
Phone: (08) 9208 4000
Email: info@lgas.com.au
Address: Suite 3 24 Muriel Avenue Innaloo, WA 6018 Australia
ABN: 84 797 521 267
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