Prime Minister of Tasmania – Economic growth continues according to ABS
July 5, 2021
Peter Gutwein, Prime Minister
Today’s positive data on ABS retail and building approvals once again confirmed that our economic recovery is now well advanced as Tasmanians continue to support their local businesses and invest for the future. .
ABS figures show retail trade grew 1.5% in May 2021 to reach $ 654.8 million, which is the second highest growth rate in the country and nearly 8% of more than at the same time last year.
What’s important is that Tasmanians are on the move and supporting local businesses, with hospitality spending increasing 9.1% in May.
What’s more, ABS construction approvals data released today is also positive, with construction approvals rising 2% in May 2021 – the second highest growth of any state, and 63.4% more than in May of last year.
There were 4,091 building approvals in the 12 months leading up to May 2021, which is the highest number of building approvals seen in over 25 years.
This once again confirms the continued strength of our building and construction industry and demonstrates the exceptional success of our Construction Blitz and HomeBuilder package which has helped support our economy and jobs during the COVID-19 pandemic.
Our clear plan is clearly working, with more jobs now than before the pandemic and our economy strong. We will continue to do all we can to build on these excellent results while securing the future of Tasmania.
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