Business expectations fall

Business expectations fall

The CCI/BankWest Survey of Business Expectations for the coming year in Western Australia fell by 42.7 per cent in the year to September 2000. Between June and September, the balance of sentiment decreased by 13.8 per cent.

WA businesses' expectations for the national economy were unchanged between the June and September quarters, but the balance of expectations for the national economy has fallen by 48.6 per cent since September 1999.

Corporate sector on increase

Western Australia's corporate sector investment increased by 27 per cent between March and June, an improvement which may mark the end of the slide in investment recorded since June 1998. Even so, investment was 6.8 per cent lower than in June 1999.

Both the decline in investment since 1998 and the recovery in June have been driven by the mining sector. Mining investment fell from a peak of $1.6 billion in June 998 to a recent trough of $390 million in March, but rebounded to $636 million in June.

Exploration expenditure increases

Exploration expenditure increased for the first time since 1997, climbing 4 per cent to $170 million during the June quarter, data from the Australian Bureau of Statistics shows.

WA was the main contributor to the increase rising 33 per cent or $28 million compared to the previous quarter.

Exploration for WA gold increased 62 per cent or $29 million during the quarter.

Exploration expenditure has fallen for the past three financial years.

In 1999-2000, expenditure was $676 million or 19 per cent lower than the previous year.

Expenditure was the lowest annual expenditure since the $632 million reported in 1992-93.

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