Queensland still number one for business confidence

Queensland still number one for business confidence

Queensland trend business confidence rating has remained the highest of any mainland State for the 10th month in a row, according to today’s respected National Australia Bank Monthly Business Survey.

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Treasurer Curtis Pitt said: “Since last year’s State Budget, trend business confidence in Queensland has been the highest of any mainland State.

“We’re consistently beating NSW and Victoria and it shows the strength of the State’s diversified economy.

“Even Prime Minister Turnbull acknowledged the fact in Federal Parliament in February, despite his state LNP colleagues constantly talking down Queensland.

“The latest NAB survey comes just one day after the Queensland Chamber of Commerce and Industry’s Pulse Survey showed its Business Confidence Index for Queensland had risen in the March quarter.

“And the most recent Westpac-Melbourne Institute Consumer Sentiment survey showed a rebound in consumer confidence.

“Today’s NAB survey shows the positive impact of our pro-jobs, pro-business Economic Plan.”

The survey showed trend business confidence fell one point in Queensland to six points, ahead of NSW and Victoria on five points.

“It shows that on the ground, Queensland businesses recognise the strength of the Queensland economy – despite the efforts of the LNP and ill-informed commentators trying to talk it down,” Mr Pitt said.

“We have our trend unemployment rate at two-year lows, with 61,300 new jobs created since the State election.

“In just over a year that’s more than double the number of jobs created in the entire three-year term of the previous Government.”

“Last month the respected Deloitte Access Economics’ Business Outlook said Queensland would have the fastest growing economy in Australia next financial year.

“Deloitte said the Queensland economy had longer term ‘sweet fundamentals’.”

Recent data from the Australian Bureau of Statistics has shown:

  • The sixth consecutive monthly increase in the number of Queenslanders securing finance to buy their own home – a 0.7 per cent increase in lending finance in February. In trend terms the strongest increase of any State or Territory.
  • In the first 12 months of the Palaszczuk Government $13.7 billion worth of new homes were approved for construction. $2.1 billion more than were approved in the last year of the previous Government.
  • The number of Queenslanders getting finance approved for buying their own home has increased for the sixth month in a row.

“More jobs means more people with the confidence and the cash to buy a new home, or spend with a local business,” Mr Pitt said

“It’s more hard evidence that confidence in the economy is well and truly back after going missing under the slash-and-burn approach of the former LNP government,” he said.

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