New data released by the Australian Bureau of Statistics shows retail trade in Tasmania has hit a record high in October 2024, reaching $725.4 million.
Treasurer Guy Barnett said that this continued growth in our retail sector backs in other recent data including Private New Capital Expenditure and the highest wage growth in the nation.
"This data demonstrates the resilience of Tasmania's economy in the face of significant global economic headwinds," the Treasurer said.
"This latest retail trade data shows that consumers are confident and in turn this allows for our businesses to be confident.
"Our 2030 Strong Plan for Tasmania's Future ensures our economy remains resilient, to the benefit of all Tasmanians.
"Our monthly retail trade has increased by a massive 57.7 per cent since we came to Government in 2014, and everyday Tasmanians are the winners.
"This news of strong economic performance follows other good economic news with private investment trend data showing the underlying confidence the private sector has in Tasmania.
"Our Tasmanian economy has increased to a record $40.6 billion and over the past 10 years under our Government. It has grown by $8.5 billion in 10 years, that's 26.3 per cent.
"Our unemployment rate remains at a historically low levels, we have the highest wage growth in the nation, and we have created 45,000 more jobs since we came to Government.
"This Government has demonstrated that our 2030 Strong Plan for Tasmania's Future delivers a strong economy and we will continue doing what matters to Tasmanians."
