No. 3 - Department of Treasury - The Western Australian Government

Western Australian Economic Summary2006 No.3Business IndicatorsGrowth in sales of goods and services by businesses in Western Australiahas been strong over the past few years 1 .Sales grew by 6.8% during the June quarter 2006 and by 14.3% over 2005-06(in annual average terms) to $47.4 billion 2 . This growth was considerablyhigher than the national average (Figure 25). Growth in sales has beenunderpinned by strong economic conditions, buoyant consumer confidence,steady jobs growth and higher wages.These data are aggregates and are not adjusted for changes in the number ofbusinesses, changes in business size, or changes in industry composition.Wages and salaries data show that the annual average rate of growth inthese costs has increased significantly in Western Australia over the pastyear and a half. Over the past four years, however, growth in total wagesand salaries in the State of 35.2% has been only moderately ahead of growthnationally of 28.7% (Figure 26).16%Figure 25SALES OF GOODS AND SERVICESNominal, Annual Average Growth Rate12%8%4%0%Dec-02 Jun-03 Dec-03 Jun-04 Dec-04 Jun-05 Dec-05 Jun-06Western Australia AustraliaSource: ABS Cat. 5676.0 Table 41 The ABS has only published State-level data since March 2001.2 ABS Quarterly Survey of Business Indicators, Catalogue Number 5676.040 Department of Treasury and Finance