Another month, and Tasmania’s record-breaking run of retail trade has once again continued, with the Australian Bureau of Statistics confirming 48 months of consecutive growth.
Tasmanians continued to spend more in October, with retail trade coming in at $550 million in trend terms, an increase of 0.3 per cent over the previous month – the second fastest growth rate in the nation.
Tasmania’s retail trade was 5.8 per cent higher than a year ago - the second highest annual growth rate in the country.
October 2018 is the 48th consecutive month of continuous growth in retail trade. Such a strong run of growth is a vote of confidence by consumers in the Tasmanian economy.
The latest results prove the Hodgman Liberal Government’s plan for Tasmania is working, and confirm the Government’s strong economic management is leading to increased confidence amongst Tasmanian businesses and households, which in turn is leading to more jobs being created.
Jobs are the number one priority of the Hodgman Liberal Government, and since being elected in March 2014, 15,100 jobs have been created in Tasmania.
To ensure this record spend in retail continues, I would encourage all Tasmanians to support their local retailers this Christmas.