Strong results in a number of recent economic reports has confirmed Tasmania’s economy is continuing to recover from the COVID-19 pandemic
ABS data released yesterday confirmed retail trade for November grew 3.4 per cent, the third highest growth rate in the country and 13.6 per cent higher than this time last year and also higher than the National growth rate, with spending in cafes, restaurants and takeaways growing to $66 million.
We know our retail and hospitality sectors were hit hard last year, and these figures are very positive and confirms Tasmanians are getting out and about and doing their bit to help them recover.
Tasmania also exported $3.66 billion in the year to November, which is 1.1 per cent higher than the previous year, bucking the national trend, and dwelling approvals were 8.1 per cent higher than the same time in the previous year.
With the economy recovering, we are also seeing more Tasmanians return to work. Employment grew 0.8 per cent in November, higher than Australian growth of 0.7 per cent, with nearly three quarters of Tasmanians back to work since May.
And importantly, the Sensis Business Index found that more Tasmanian businesses have recovered since COVID-19 than elsewhere, and it is Tasmanian businesses that are most confident in the country.
As we enter 2021, we will continue to focus on growing our economy and getting more Tasmanians back into work through our landmark $5 billion infrastructure program that will support 25,000 jobs over the next four years.