The Australian Bureau of Statistics State Final Demand data for Tasmania, released today, shows strong growth of 0.9% in trend terms for the June 2018 quarter - the second fastest growth seen in the nation.
State Final Demand is a major economic indicator of the health of the Tasmanian economy, being a measure of spending by households, businesses and government. In dollar terms, Tasmania’s State Final Demand in total for the 2017-18 year was $32.5 billion.
This great result was underpinned by the second fastest growth in private investment in Australia, at 2.9% for the quarter. Today, private investment is 12.5% higher than a year ago – the fastest annual growth rate in the nation.
Today’s results are in sharp contrast to the last four years of the Labor-Green Government where State Final Demand went into reverse, contracting 1.4% over the period. Today, State Final Demand is 11.2% higher than the level recorded in March 2014 in real terms.
These latest ABS figures add to the growing list of strong key economic performance indicators including;
The Hodgman Liberal Government is delivering on our long term Plan to make your life even better.
Tasmania is now a better place to live than ever before and these latest figures again show our Plan is working.