WA faces challenging year ahead but economic outlook remains positive, according to new business report

The CCIWA report says the outlook for WA's economy remains largely positive, with growth to be underpinned mainly by large-scale business investment.   (ABC News: Andrew O'Connor)

As the global economy "teeters on a knife edge", Western Australia is well positioned to withstand a possible worldwide recession, according to the Chamber of Commerce and Industry WA (CCIWA).

The CCIWA has released its economic outlook report for this financial year and the next two, warning of a tough year ahead.