Western Australian Treasury Corporation (WATC) is the State’s central financial services provider, working with its public sector clients to achieve sound financial outcomes. Download pdf The payroll data highlights that WA is well and truly on track to meet Treasury's forecast of 1 per cent employment growth this year as forecast in the 2020-21 Mid-year Review. The Economist is analysing polling, economic and demographic data to predict America’s elections in 2020 Read more of our election coverage US 2020 results Charts, maps and analysis of the presidential and congressional races in one place And our economics team has their finger on the pulse when it comes to the Western Australian economy. In calendar-year terms, real GDP is forecast to fall by 3¾ per cent in 2020, before increasing by 2½ per cent in 2021. Risks to this forecasts include ‘second’ or ‘third’ waves of virus cases; setbacks with vaccines; policy mistakes on the removal of support measures; and an extended delay in the re-opening of foreign borders. This demonstrates its competitiveness and opportunity for continued growth. This page has economic forecasts for Australia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Australia economy. And the joint third ranking for South Australia is its highest position in just over a decade. News > Pacific NW Washington’s economic forecast improves slightly. - November 2020 Long-Term Economic Forecast - April 2019 Washington Trends: Economy, Population, Budget Drivers, Revenues, Expenditures - A variety of trend information focusing on the period since 1980. The unemployment rate is expected to peak at around 9¼ per cent in the December quarter of 2020. Our forecasting methodology is a robust mix of the macroeconomic fundamentals driving supply and demand with real-world data collected from our membership base of over 40,000 industry professionals who are responsible for over 80% of … The economy is forecast All in all, we expect non-oil GDP to decline by 2.7 percent (compared to -3 percent previously). Economy Job growth stronger than expected in October, unemployment rate slides to 6.9% Published Fri, Nov 6 2020 8:30 AM EST Updated Fri, Nov 6 2020 11:10 AM EST We’ve covered home price trends already. The equal sixth ranking for NSW is its lowest position for eight years. In contrast to the short-term economic forecasts that focus on assessing business cycle conditions, long-term projections examine demographic trends, structural changes in industries, changes in production factors such as … 2020 will be a year where Australia’s annual GDP will exceed $2 trillion, our population will get very close to 26 million people and we will clock up 29 years with no recession. UPDATED: Wed., Nov. 18, 2020. Washington includes the following metropolitan areas for which an Economy At A Glance table is available:. Economy Breaking RBA reveals economic outlook for 2021 The central bank has revealed its latest stance on interest rates and set out its economic predictions for the coming year. 2020. ... shows WA is in the eye of the storm. After shrinking through 2016-17, the WA economy is tipped to expand this year with growth picking … Real GDP is forecast to fall by 3¾ per cent in 2020 before recovering in 2021 to grow by 4¼ per cent. ... August 2020 Report. From the jobs market to the Aussie dollar, this is what 2020 will look like for the Australian economy and markets. Zillow’s forecast is shown in the green shaded area and extends into the fall of 2020. Visit our events page to attend this event. 12/08/2020-Inslee announces new economic supports and extension of restrictions; 09/30/2020-Inslee statement on reports that Boeing intends to move 787 production to South Carolina; 01/22/2020-Washington takes a bite out of the Cosmic Crisp apple; 05/14/2019-U.S. News and World Report: Why Washington is the Best State in America restrictions in most parts of the country. The Wheatbelt has displayed strong economic growth over the past 10 years of 8.2% Average Annual Compound Growth Rate. This year, we decided to do something a little different and invited business professionals from different industry sectors to write individual forecasts focused on their specific industry sector. Premier Mark McGowan said WA’s economy was in a better position than forecast at the outset of the pandemic, as a result of “our world … Unemployment tends to increase faster than it decreases. The unemployment rate is expected to peak at around 8 per cent in the December quarter of this year, before falling over the next few years as the economy recovers and businesses gain confidence to employ more workers. (Source: Getty) Happy New Year! ECONOMIC FORECAST. Download August 2020 Report. October 16, 2020 Joseph Battaglia. Overall the Australian economy is likely to rebound by 4.9 per cent after contracting 2.8 per cent in 2020. The economy is then forecast to contract by 2.5 per cent in 2020-21 as ongoing efforts to control the spread of COVID-19 and weak consumer and business confidence weigh heavily on activity. This file contains long-term population, resident civilian labor force, employment and personal income projections for Washington state. Every year, the Vancouver Business Journal’s last issue is a special edition that includes a Business & Economic Forecast for the coming year. On budget day Premier Mark McGowan said WA’s economy was in a better position than forecast at the outset of the pandemic, as a result of “our world leading response and strong border controls”. Western Australia's economy should recover from the economic hit of COVID-19 quicker than other states, thanks to a stronger than expected price of iron ore, analysts believe. Vibrant Economy. The government is covering up the reality of the situation, throwing money against the wall at all costs (hoping some will stick) and falsely propping up the economy whilst kicking the can down the road. Notes: Stratified median house price forecasts. Data extracted on: January 26, 2021 Source: U.S. Bureau of Labor Statistics Note: More data series, including additional geographic areas, are available through the "Databases & Tables" tab at the top of this page. Morgan Stanley warned investors of the same thing: “Global recession in 2020 is now our base case,” the firm’s chief economist, Chetan Ahya, wrote in … The second ranking for the ACT maintains its highest ranking for over three years (April 2017). Wed, 25 November 2020 Macroeconomic Update – November 2020: (Not bad, all things considered) A less steeper decline than expected in Q2, and a stronger recovery in Q3 has led us to revise our non-oil GDP forecast for the Kingdom in 2020. Western Australia may only have a small population, but it is the country’s number one state when it comes to gas consumption. Deloitte Access Economics, in its quarterly overview of the States and Territories, has upgraded its forecasts ahead of next month’s WA Budget. The Western Australian economy continues to lead the nation, with forecast growth in Gross State Product revised up from 1.25 per cent in 2020-21 at Budget to 2 per cent at the Mid-year Review - driven by a strikingly strong increase to the domestic economy. One of the Hottest Housing Markets in the U.S. No matter how you measure it, Spokane is one of the hottest local housing markets in the nation in 2019. Tasmania has now been on top for four straight surveys – either shared with another economy or in its own right. The European economy is now in its seventh consecutive year of growth and is forecast to continue expanding in 2020 and 2021. HIA is Australia’s leading forecaster of housing construction activity. The Economist is analysing polling, economic and demographic data to predict America’s elections in 2020 Read more of our election coverage US 2020 results Charts, maps and analysis of the presidential and congressional races in one place The Western Australian (WA) housing market is expected to bounce back in the next 12 to 18 months, according to Urban Development Institute of Australia’s (UDIA) analysis, which was based on three decades of Australian Bureau of Statistics data. We forecast more rough conditions ahead, with a clear need for policies to spark business investment and confidence. Real GDP is forecast to fall by ¼ per cent in 2019-20 and by 2½ per cent in 2020-21. Overall, WA will remain one of the most affordable places for home ownership in the country in the new year. Housing Predictions and Forecast Based on extensive industry data. 2019 forecast is 6 month per cent change from June quarter 2019 to the December quarter 2019. 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