- Western Australia's domestic economy grew by 2.9 per cent in 2024-25, the strongest of the mainland states
- Household consumption remains the strongest of the states, growing by 2.3 per cent, more than double the national growth rate of 1 per cent
- Investment in new homes grew by 6.2 per cent in 2024-25, in line with rising building approvals and completions data
- WA's domestic economy has been the strongest of the states over the last five years, growing by 26.3 per cent, and well above the national growth rate
Western Australia continues to power the national economy, with Australian Bureau of Statistics data released today showing the State's domestic economy grew by 2.9 per cent in 2024-25.
The economic growth was the strongest of the mainland states and well above the 2.1 per cent growth in the national economy. Activity grew by 0.5 per cent in the June quarter.
Household consumption was the strongest of the states, at 2.3 per cent, more than double the growth nationally of 1 per cent.
Dwelling investment grew by 6.2 per cent, underpinned by growth in investment in new homes. This is in line with Western Australia's nation-leading growth in building approvals, with more than 23,000 homes approved for construction in the past 12 months.
Economic activity was supported by business investment remaining at elevated levels, after growth of 12.7 per cent last financial year. Government investment also grew by 9.5 per cent, with strong investment in infrastructure to set the State up for the future.
The results continue the strong run of growth over the last five years, with Western Australia's domestic economy growing by 26.3 per cent, the strongest of the states, and well above the 18.4 per cent growth nationally.
The strength of the WA economy continues to create jobs for Western Australians, with WA's unemployment rate averaging the lowest in the nation over the last year at just 3.8 per cent, while employment grew by 3 per cent with almost 48,000 new jobs created over the year to July.
As stated by Treasurer Rita Saffioti:
"Today's national accounts highlight the stand-out performance of the Western Australian economy.
"WA continues to be the engine room of the nation, growing by more than 26 per cent over the last five years, the strongest of the states.
"The strong economy has given WA consumers the confidence to spend, with household consumption growing by the most of any state and more than double the growth nationally.
"The buoyant economic conditions continue to translate to opportunities for Western Australians, with WA's unemployment rate averaging the lowest in the nation and a further 48,000 jobs created over the last year."
