QUEENSLAND leads Australia in business investment, according to the latest CommSec State of the States Report.
Treasurer Tim Nicholls says the report released today also notes improvements in unemployment, housing finance and building starts.
“Queensland now leads the nation in business investment, with spending in the June quarter 37 per cent above the decade average,” says Nicholls.
He says the state is ranked by the report as second-best on four of eight economic indicators.
“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.
“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.”
Nicholls says the State of the States Report is the latest in a string of positive economic releases.
“The Deloitte Business Outlook, also released today, notes that Queensland continues to out-perform the national economy.
“Preliminary results from the State Accounts show Queensland’s economy growing by four per cent in 2012 to ‘13, compared to an average of 2.6 per cent across the other states.
“By 2014 to ‘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.”
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