WA Economic Update – Boom time in Mining?

July 11, 2018 | Category: Economic Update

NAB Monthly Business Survey data for June released yesterday continues to point to stronger conditions ahead for Western Australia with business confidence in WA and QLD currently leading the nation and capacity utilisation in the mining industry reaching boom time levels. As the chart below illustrates mining industry capacity utilisation has soared from a bottom of 70% in 2015 to over 85% today. This is a positive indicator for two key drivers of the WA Economy: private company capital spend; and, wage inflation. The last two periods capacity utilisation was at this level saw wage inflation in WA running at 3%-7% which is significantly above the latest measure of 1.5%.

WA Economic Update - Boom time in Mining?

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