Retail trade is bouncing back in Tasmania, according to the Australian Bureau of Statistics' latest data release, which points to our State's strong business confidence under the Rockliff Liberal Government.
Treasurer, Michael Ferguson, said the nominal value of retail trade in Tasmania was estimated to be $716 million in December 2023, up 0.4 per cent compared with the previous month, and up 1.7 per cent from the level recorded this time last year.
"The monthly increase was ahead of the national average and the highest increase in the nation," the Treasurer said.
"Retail turnover in Tasmania has grown significantly over the past six years which is great for our growing economy. It is also a sign that despite national economic headwinds Tasmanians are benefiting from strong job security and have money to spend in their local shops, restaurants, and department stores.
"Recent ABS data also showed Tasmania had recently achieved a record low unemployment rate.
"We understand that Tasmanians are doing it tough, battling inflation and cost of living pressures. That's why it is more important than ever that there are employment opportunities and job numbers are strong in Tasmania.
"This backs up the recently released NAB Business survey which showed Tasmania has the most favourable business conditions and is maintaining its strong business confidence, rated as the highest in the nation.
"Stronger retail trade and higher business confidence mean more Tasmanians employed. This is contrary to when the disastrous Labor Green government was in power, where there were 53,000 fewer jobs, the unemployment rate was 3.4 per cent higher and the State was plunged into a recession.
"Having a strong economy allows us to invest more into the things Tasmanians care about most like health, education, housing and community infrastructure."
