Bullish Sign? - Bounced off 200 EMA, page-2449

https://mobile.abc.net.au/news/2018...oksBsQiPdjWwG9L9zGFYBqVN97YeE&pfmredir=sm

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“The $1 billion in investment detailed in the WA Department of Mines, Regulation and Safety's latest industry snapshot includes new iron ore, rare earths and lithium mines, as well as re-openings or expansions of existing projects.

Deloitte economist Chris Dawson says that while everyone is wary of using the word "boom", the mood is buoyant.

"Western Australia can move really fast. You have these brilliant booms but it also has nasty busts," he said.

"Right now, the mood is up, the vibe is good and momentum is starting to build.

"But you have had recently some senior figures counselling caution — 'Don't overdo it' — and I would see it as sensible, because a more careful, more modest recovery is a good thing, for Western Australia and Australia."

He says the government-driven construction on the eastern seaboard is creating stiff competition for employers trying to lure people west.

"One of the challenges at the moment is getting those people with the right skills, the right experience, and a bunch of those people are working on the big infrastructure jobs that you're seeing in New South Wales and Victoria at the moment.

"They may have been burnt by the last boom, if you like, in the west. So it's not an easy labour market."

Demographer Amanda Davies, who published a book about the impact of boom-times on WA, says there are some factors that will work in WA's favour.

"On the east coast there are some push factors at play. The cost of living is very, very high, and people are getting increasingly frustrated about the transport and housing costs and the job opportunities," she said.

"The nature of a mining economy is that there will be periods of boom and bust and I think that's quite well understood. You get in while it's going good and then you make plans."
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