The Western Australia economy grew by only 0.1% for the December 2021 quarter, according to statistics released today by the ABS.
WA’s slow growth rate compared to NSW and Victoria recovering from lockdowns recording 6.7% and 3.7% respectively. Meanwhile, Queensland recorded 0.0% for the quarter.
For the 2021 year, WA’s economy grew 4.9%. This is after growing by 1% in 2020.
Nationally, Australia recorded 3.4% growth for the quarter.
Despite the slowed growth for the last quarter of 2021, the overall growth rate for the year for the Western Australian economy was a strong 4.9%, which is a great sign for businesses.