Western Australia stands out as a positive aspect of the national economy, yet it confronts potential risks in the year 2024:

Western Australia has become a rare positive highlight in a national economy dealing with nearly record-low consumer sentiment and increasing interest rates. However, local businesses have been cautioned to prepare for a surge in insolvencies in 2024. CreditorWatch chief economist Anneke Thompson credits WA’s robust position to its 2.4% State Final Demand growth in the 12 months leading up to September, the highest among all jurisdictions, coupled with a participation rate well above the national average.

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