Strong retail trade signals a strong Tasmanian economy

According to the latest data release from the Australian Bureau of Statistics, the retail sector in Tasmania is rebounding, pointing to our state's strong business confidence under the Rockliff Liberal Government.

Treasurer, Michael Ferguson, estimated the nominal value of retail trade in Tasmania to be $716 million in December 2023, up 0.4 per cent from the previous month and 1.7 per cent higher than the level recorded at this time last year.

„The monthly increase was higher than the national average and the highest increase in the nation,” the treasurer said.

„The retail sector in Tasmania has grown significantly over the past six years, which is great for our growing economy. Despite national economic interventions, it is a sign that Tasmanians are benefiting from strong job security and have money to spend in their local shops, restaurants and supermarkets.

„The latest ABS data shows that Tasmania has recently achieved a low unemployment rate.

„We understand that Tasmanians are working hard to combat inflation and the cost of living, which is why it's more important than ever that job opportunities and job numbers are strong in Tasmania.

“This supports the recently released NAB Business Survey, which found Tasmania has very favorable business conditions and maintains its strong business confidence, rated among the highest in the country.

„Stronger retail and higher business confidence means more Tasmanians are employed. This contrasts with the fact that when the disastrous Labor Green government was in power, there were 53,000 fewer jobs, the unemployment rate was 3.4 per cent higher and the state was plunged into recession. .

„Having a strong economy allows Tasmanians to invest more in health, education, housing and community infrastructure.”