The latest State Final Demand data released today by the ABS has confirmed Tasmania’s economy is leading the nation as we continue to draw closer to reopening on December 15.
The figures show that State Final Demand, a key measure of economic activity, grew by 4.2 per cent in the September 2021 quarter in real seasonally adjusted terms – the fastest growth in the nation, and in contrast to a decline seen nationally.
This was underpinned by growth in private investment of 15.7 per cent, the highest in the nation, while growth in household consumption was the second highest in the nation.
This is great news for local businesses and our economy and reflect the confidence that businesses and locals have to spend and invest in our State for the future.
These results do not come by accident and reflect the confidence and hard work of Tasmanians, our status as one of the safest jurisdictions in the world and our flexible and adaptive response to COVID-19.
It demonstrates that our clear plan to support our community and economy throughout the pandemic is working and we will continue to do all we can to keep the momentum going as we secure Tasmania’s future.