The latest Australian National Accounts data released today is further evidence of the ongoing, steady recovery being experienced in the Tasmanian economy, the Treasurer, Michael Aird says.
“The ABS figures show a healthy 2.0 per cent increase in State Final Demand over the past year in trend terms,” Mr Aird said.
“Tasmanian State Final Demand is now at a record high, $6.22 billion in trend terms, eclipsing levels experienced before the global recession.
“In recent times we have seen figures showing Tasmania has the highest level of jobs growth in the nation, strong retail trade and construction figures, as well as the release of optimistic business surveys.
“While this data shows a healthy improvement in State Final Demand, it does highlight the contraction in the private investment component of the data.
“The 13.3 per cent decrease in private investment since March 2009 is an area we will be looking to see improvement in over the coming months.
“However, this data is countered by a 12.3 per cent increase in government expenditure, which has been important for the Tasmania’s ongoing economic recovery.
“I am confident that improving business confidence cited in recent TCCI and MyState surveys are a sign that private investment will improve in the future.
“The Tasmanian economy, like the rest of Australia and much of the world, is in recovery mode.”
