State Final Demand data released by the Australian Bureau of Statistics (ABS) today has again proven the resilience of the Tasmanian economy under the Tasmanian Liberal Government's 2030 Strong Plan for Tasmania's Future.
Tasmania's State Final Demand grew 1.8 per cent compared to the June 2023 Quarter, the second strongest growth of all states and above the national average.
Tasmania's growth from the March 2024 quarter to the June quarter of 0.6 per cent was also well above the national average of 0.2 per cent.
These latest figures come on the back of data released last week showing that Tasmanian businesses invested a record high of $586 million for the June 2024 quarter.
Treasurer, Michael Ferguson, welcomed the data and noted that, once again, the Tasmanian Liberal Government's positive 2030 Strong Plan is working for Tasmania.
"These figures show we have a resilient economy where families are continuing to spend and businesses are confident to invest despite contending with the national economic headwinds caused by higher interest rates and strong inflation," the Treasurer said.
"State Final Demand is not a full measure of our economy – for example it doesn't include export activity – so we look forward to getting a full picture of how we're tracking when Gross State Product numbers are released in November.
"Over the past ten years, our Government has demonstrated that we can deliver a strong economy through good economic conditions as well as some really challenging conditions.
"We will continue to do that as we deliver our 2030 Strong Plan for Tasmania's Future."
