Economy races ahead

Economic conditions in WA are improving after a year of sub-par performance, according to Challenge Bank’s Market Insights.

The report says the WA economy is reflecting a turnaround in household spending, strong employment growth, a likely bottoming out in business investment and a sharp uplift in exports.

While consumer confidence collapsed in early 2000, in line with broader trends, the report says that new car sales rose by 4.6 per cent in the December quarter, with further improvement likely in the new year.

Employment growth has also raced ahead in recent months to a solid 4.4 annual rate in February, above the national average.