The latest ANZ Stateometer Report confirms that Tasmania’s economy is accelerating, and is the only jurisdiction to see above trend growth
The Report for the September quarter noted our position as a “big step forward” and that “Tasmania’s pick-up this quarter was especially strong” stating “although the improvement was mainly due to the labour market recovery, all components improved. The housing and labour market components grew at an above trend pace, and the business and trade components are at around trend rates.”
ANZ also found that Tasmania was the only jurisdiction to see business conditions improve in October in the country.
This backs up Sensis Business Survey data for November released yesterday which found that Tasmania had the highest number of businesses that had not only recovered, but were ahead of where they were this time last year, at nearly double the national rate.
While we know the road ahead will not be easy, this demonstrates the resilience in our economy and is a firm foundation for our cautiously optimistic recovery.
The recent 2020-21 State Budget underpins 25,000 jobs and provides the certainty and confidence our community needs. It is how we will recover, stimulate our economy and rebuild a stronger Tasmania.