• Economic Forecasts

    Major Economic Aggregates

    Western Australia

    Annual Growth

     

      2015-16
    Actual

    %
    2016-17
    Estimated
    Actual
    %
    2017-18
    Budget
    Estimate
    %
    2018-19
    Forward
    Estimate
    %
    2019-20
    Forward
    Estimate
    %
    2020-21
    Forward
    Estimate
    %
    Gross State Product (a) 1.9 0.25 3.0 3.25 3.0 3.0
    State Final Demand -4.0 -7.0 -1.5 1.0 3.25 4.0
    Employment (b) -0.4 -0.8 1.5 1.5 2.0 2.25
    Unemployment Rate(c)  6.0 6.2 6.0 6.0 5.5 5.5
    Consumer Price Index (d)    1.0 0.6 1.0 1.5 2.0 2.5
    Wage Price Index (d)  1.9 1.4 1.5 1.75 2.75 3.0
    Population 0.7 0.7 1.0 1.2 1.5 1.8

    (a) Forecasts for ownership transfer costs, international trade in services and the balancing item are not separately reported.

    (b) Employment and participation rate actuals for 2015-16 and 2016-17 differ from those published by the Australian Bureau of Statistics (ABS) as they include Treasury's estimate of the impact of the downward revision to Western Australia's population as a result of the 2016 Census. The ABS is not expected to include the Census impact into the labour force estimates until late 2018.

    (c) Data expressed as annual average during the financial year.

    (d) Actual value for 2016-17.

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