The Tasmanian economy is seeing a “modest lift in momentum” according to the latest State of the State report by CommSec.
The report highlights that there has been a “boost in an array of sectors, especially tourism”.
Tasmania is now ranked fifth on four of the indicators, which is a stark contrast to when we came to Government and Tasmania was last on every single CommSec measure.
Tasmania has not only improved on every count, but retail spending in particular has grown from strength to strength.
Tasmania has the third strongest growth in retail in the country over the past year, up 3.5 per cent, and in monthly retail trade we are up by 5.2 per cent, and second only to the ACT.
Retail spending is an important factor, reflecting that Tasmanian consumers have the confidence to spend, and shows the economy is heading in the right direction.
As CommSec has highlighted, there is momentum in the growth of Tasmania’s economy, but we recognise there is still a lot of work to be done. That’s why we are focussed on getting the budget on track so we can invest in the things that are important to Tasmanians, and continue to strengthen the economy.