Domestic Demand in Western Australia rose by 2.5 per cent in the year to June 2000. Between March and June, it increased by 0.2 per cent. This relatively weak growth was pulled down by business investment, which fell by 20 per cent through the year to June, although it showed a small rally in the June quarter. Housing investment and government spending were strong, and WA's consumer spending exceeded national growth through the year to June at 4.9 per cent. Strong net exports should mean that the growth in Gross State Product for 1999-00 (due to be released in November) is stronger than domestic demand growth.
Australian domestic demand rose by 5.9 per cent in the year to June 2000, to stand 0.5 per cent higher than in the March.
Business investment falls
Business Investment in Western Australia fell by 19.9 per cent in the year to June 2000. Between March and June, it increased by 5.1 per cent.
Australian business investment rose by 1.8 per cent in the year to June 2000, to stand 1.4 per cent lower than in the March.
GST influences economy
Consumers' response to the introduction of the GST continues to influence economic data, with June's national accounts showing domestic demand driven by strong growth in dwelling investment (10% during the quarter) and private consumption (0.9 per cent, reflecting the June spike in retail sales). Net exports were also a positive contributor to growth during the quarter. Real, seasonally adjusted GDP rose by 4.7 per cent in the year to June 2000. Between March and June it increased by 0.7 per cent.
Government spending and business investment declined during the quarter.
The ABS no longer publishes quarterly estimates of State product.
