The Western Australia economy grew by a massive 2.2% for the March 2022 quarter, according to recent statistics released by the ABS.
Despite recently inflation issues, this is a great number for the WA economy.
WA recorded the highest private fixed capital formation increase of any state, at 3.2%, compared with second place Victoria that recorded 2.2%. That is a good indicator for WA businesses.
Over the last four quarters, WA’s state final demand – a GDP equivalent – grew by 4.1%.
Above: Australia’s quarterly GDP growth released by the ABS.
Australia’s GDP grew 0.8% in real terms for the quarter.
Despite inflation concerns and labour shortages, conditions are still positive for Australian businesses.
Phone: (08) 9208 4000
Email: info@lgas.com.au
Address: Suite 3 24 Muriel Avenue Innaloo, WA 6018 Australia
ABN: 84 797 521 267
Public holidays: Closed