Monthly Market Highlights

  • March 2021

    April 9, 2020

    Western Australia’s employment increased by 1.8k in February, while the unemployment rate declined to 6.0%. Western Australian dwelling approvals rose 19.1% in February, while housing loan commitments increased 1.7%. Western Australian retail trade fell by 5.4% in February, dragged down by the snap lockdown in parts of the state. In the three months to February 2021, Western Australia exported A$56.5b of goods.

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  • February 2021

    March 8, 2021

    Western Australian Treasury Corporation launched a 1.5% coupon 22 October 2030 bond in late February. In Q4 2020, Western Australia saw a 1.5% increase in state final demand. The Western Australian wage price index grew by 0.4% in Q4 2020, to be up 1.4% through the year. Western Australia’s unemployment rate fell to 6.2% in January from the upwardly revised 6.3% in December.

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  • January 2021

    February 5, 2021

    In December 2020, the value of Western Australian new home loans rose by 10.7%, while the number of dwelling approvals grew by another 7.8%. Both are around twice the levels from a year ago. Western Australian employment grew by 0.4k, while the unemployment rate fell to 6.2%, the lowest of all states. Perth consumer prices declined by 1.0% in Q4 2020, driven by a 66.7% plunge in electricity prices caused by the A$600 electricity credit introduced by the Western Australian government in October 2020.

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  • December 2020

    January 11, 2021

    Western Australian dwelling approvals fell by 5.4% in November, to be up 104% through the year. Western Australian employment rose by 11.4k in November, while the unemployment rate fell to 6.4%, the second lowest of all Australian states. Western Australia exported A$48.0 billion of goods in the three months to November.
    The RBA bought another A$427M WATC bonds as part of its quantitative easing program in December, taking the total amount of WATC bond purchases under the yield curve control and quantitative easing programs to A$3,162M.

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  • November 2020

    December 7, 2020

    Western Australian dwelling approvals grew by 29.7% in October, to be up 96.3% through the year. Western Australian employment rose by 15.3k in October, while the unemployment rate fell to 6.6%, the second lowest of all Australian states. Western Australia exported A$46.2 billion of goods in the three months to October. Western Australian real state final demand increased a seasonally adjusted 4.9% in Q3 2020 and was down 0.7% YoY. The RBA bought A$0.5 billion of WATC bonds in November as part of its A$100 billion bond purchase program.

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  • October 2020

    November 9, 2020

    At its November meeting, the RBA Board reduced its cash rate and 3-year yield targets to 0.10% from 0.25%, and announced that over the next six months it would purchase A$100B of Australian government bonds, including semis. Western Australian dwelling approvals grew by 42.6% in September, while new housing loan commitments surged by 24.7%. Western Australian employment rose by 2.9k in September, while the unemployment rate fell to 6.7%, the lowest of all Australian states. Western Australia exported A$45.1 billion of goods in the three months to August.

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