WA’s economy is bouncing back to health, with a resurgent mining and resources sector driving the State to one of the strongest growth rates in the country.
CommSec, in its latest State of the States report, said WA’s economy grew at an annual rate of 6.7 per cent in the three months to September 30, second only to Tasmania with 6.9 per cent.
Perth Now is reporting that Exports led the way courtesy of strong demand and prices for commodities such as WA iron ore and LNG.
The report found that while WA continues to perform poorly compared with its 10-year average or “normal rate”, key measures are pointing in the right direction.
It said equipment spending in WA was growing at 17.5 per cent on an annualised basis as businesses felt confident enough to start investing again.