Australian Bureau of Statistics (ABS) data released today shows retail trade in Tasmania has hit another record high in September 2024.
The nominal value of retail trade in Tasmania was estimated to be $721.3 million, up marginally on August and up 2.2 per cent when compared with September 2023.
Treasurer, Guy Barnett, said the continued growth of Tasmania's retail sector is an indicator that our economy is resilient, giving Tasmanian businesses further confidence to invest and grow.
"The positive retail trade figures come a day after ABS data showed that Hobart had the lowest inflation rate in the country over the 12 months to September 2024 and that CPI actually decreased by 1.1 per cent in the September quarter," the Treasurer said.
"Tasmania also recently recorded the highest annual wage growth in the nation, with an increase of 5.1 per cent for the 12 months to June, 1 per cent above the national average.
"The Tasmanian economy has continued to grow under the Tasmanian Liberal Government during what has been a very tough period of high inflation and high interest rates for households and businesses.
"Despite these factors, people still have the confidence to spend, and our businesses still have the confidence to invest. This has helped keep unemployment low.
"What does little for the confidence of Tasmanian businesses and consumers is the relentlessly negative Labor opposition, garnishing today's positive news with their trademark negative spin.
"I'm encouraged by these latest positive economic figures and our Government will continue to do all we can to grow the Tasmanian economy through our 2030 Strong Plan for Tasmania's Future."
