WA to weather storm: CME

CME chief executive Reg Howard-Smith said the research – commissioned to help quantify the impact of the resources sector in WA – concluded the state was approaching the global economic crisis from a position of strength. The research showed output from WA resource sector has grown by 15.4% a year over the past 10 years and represents 30% of the state’s output in 2006-07. The research also highlighted how the strong growth in the resources sector has had widespread direct and indirect positive impacts on the state’s economy.“The sectors that have directly benefited from significant resources sector growth are the majority of the manufacturing sector, a significant part of the construction sector and over half of the property and business services sector,” Howard-Smith said.Over the past 10 years to 2006-07, average output growth in the manufacturing sector was 6.7% a year, while the construction sector’s output has grown by 10.7% over the same period and the business and property services sector expanded output by 10.3% a year. Howard-Smith said the report found technological development had underpinned the resources sector’s ability to respond to changing market circumstances. “These developments include innovative software and equipment, new scientific analysis methods, improved exploration and assessment technology and improved mineral processing techniques.” he added.

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