CHART: WA Will Remain Australia's Fastest Growing State Even As The Mining Boom Ends

Western Australia’s fortunes have a long way to fall as the mining construction boom comes to an end, with Deloitte expecting the state’s economic growth to fall almost 6 percentage points from its 2012 peak before rebounding.

Deloitte this week noted that WA’s mining-heavy economy would suffer from the transition from construction to production phases but other sectors of the economy – including housing, agriculture, tourism and international education could offset the downturn.

Economists now forecast WA’s gross state product (GSP) growth to reach 1.1 percent in 2014-15, falling below national GDP growth for the first time in about a decade.

However, they see WA “rebounding quickly to growth of around 4 per cent and retaining the mantle of Australia’s fastest growing state over the next decade”.

From the report:

There’s more in the report.

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