Australian Bureau of Statistics data released today shows retail trade in Tasmania hit a record high in June 2024 of $722.6 million in trend terms.
These statistics demonstrate the resilience of Tasmania’s economy, in the face of significant economic headwinds in the form on inflation and high interest rates.
Treasurer, Michael Ferguson, said the continued growth of our retail sector is a very clear indicator that Tasmania’s economy is strong and vibrant.
“Contrary to Labor’s constant efforts to talk Tasmania down, our consumers are continuing to spend, which in turn gives our businesses the confidence to continue to employ and invest in Tasmania – and this confidence is nation leading according to the most recent NAB Monthly Business Survey,” he said.
The retail spending figures were released on the same day ABS data showed that annual CPI for Hobart of 2.7 per cent to June 2024 was the lowest of all Australian capital cities and 1.1 per cent lower than the National rate of 3.8 per cent.
“The Hobart CPI number is welcome news for Tasmanians, but the national rate remains a concern,” the Treasurer said.
“Rather than talking the Tasmanian economy down, Tasmanian Labor should be celebrating Tasmanian business and supporting business confidence.
“We will continue to do all we can to support the Tasmanian economy through our 2030 Strong Plan for Tasmania’s Future, which is clearly delivering for Tasmanian consumer confidence and the ongoing success of our retail sector.”
