5 June 2019
Today’s Australian Bureau of Statistics State Final Demand for the March 2019 confirms Tasmania has the strongest economy in the nation.
In the March 2019 quarter, State Final Demand grew one per cent compared to the previous quarter, in real trend terms. This was the highest growth rate in the nation.
Over the year to March 2019, State Final Demand grew 5.2 per cent, which again, was the highest annual growth rate in the nation.
These results demonstrate that the Hodgman Liberal Government’s Plan for Tasmania is working.
In contrast, national GDP growth was just 0.3 per cent in the March 2019 quarter and 1.7 per cent over the year.
Tasmania’s strong economic growth was underpinned by the highest annual growth in the nation in household consumption (2.7 per cent) and private investment (6.4 per cent), demonstrating continued confidence in Tasmania’s future.
Today’s figures reinforce the core tenant of the 2019-20 State Budget which is all about maintaining this extraordinary momentum, and investing for even more growth with record investments in infrastructure, health and education.