State of the States Report talks up Queensland's economy
THE latest CommSec State of the States Report shows Qld is the best place in Australia to invest, employ and grow business, according to the State Government.
Treasurer Tim Nicholls said the report, released today, noted improvements in business investment, unemployment, housing finance and building starts as positive signs for Queensland.
"Queensland now leads the nation in business investment, with spending in the June quarter 37 per cent above the decade average," Mr Nicholls said.
Mr Nicholls said Queensland was ranked the second-best performing state on four of the eight economic indicators used in the CommSec report.
"Economic growth is 19.3 per cent higher than the decade average, retail spending is up 15.3 per cent and construction activity is 45 per cent higher than it was 10 years ago," he said.
"Importantly, Queensland continues to experience population growth above the national average.
"This is solid news, as population growth bolsters the labour force and creates greater demand across all sectors, especially retail and housing."
Mr Nicholls said the State of the States Report was the latest in a string of positive economic releases for Queensland.
"The Deloitte Business Outlook, also released today, notes that Queensland continues to out-perform the national economy," he said.
"Preliminary results from the State Accounts show Queensland's economy growing by four per cent in 2012-13, compared to an average of 2.6 per cent across the other states.
"By 2014-15 Queensland will have the fastest growing economy of any Australian state.
"With these positive signs emerging there's never been a better time for businesses to invest, employ and grow in Queensland."