Based on the Wikipedia, Recession is a business cycle contraction, a general slowdown in economic activity. Recession has a broad definition and lots of factors considered when we concluded that a state has recession. Considering Western Australia is one of the boom states, how come we conclude that WA is in a recession? In fact, lots of factors driven in WA to have a strong economy.
According to WA treasurer Troy Buswell , defended the state of the Economy, “It was growing at record levels and the state remained “a great place to do business”. Some opposition economists concluded that WA has slowdown economy because of the non-mining growth. We have factors to be considering in examining the state if the recession is occurred. Despite of the negative implications, there is good news to be taken. In mining sector there is a slight recovery especially on the iron ore price and more building approvals coming in WA. Employment and population growth has driven and I think this is only a bluff because WA economy is recovering slowly.