WA economy set for speedy recovery

Western Australia’s peak business group has predicted the state’s economy will accelerate quickly out of a recession, despite unemployment continuing to rise.

Figures released by the Chamber of Commerce and Industry show that while unemployment peaked at 6 percent this financial year, the outlook for the state remains buoyant.

The chamber’s chief economist, John Nicolaou, said he is expecting a period of growth in the near future.

“We remain very optimistic about the future for Western Australia, backed by our very strong resource base and our very close connectivity with the fastest growing regions in the world, particularly China and developing Asia.”