Confidence returns to QLD economy
CONFIDENCE is continuing to build across key Queensland economic sectors according to the latest data released by the Australian Bureau of Statistics (ABS).
Acting Treasurer and Minister for Trade John McVeigh said an increase of 4.9 per cent in trend dwelling approvals and a rise of 0.5 per cent in retail turnover during November last year were proof the Government's initiatives were having an impact.
"Our measured plan to cut red tape, reduce the cost of doing business, maintain Queensland's competitive tax status and speed up approvals are helping to grow a four pillar economy and create jobs," Mr McVeigh said.
"Importantly, this increase in trend dwelling approvals follows 23 consecutive monthly increases, with approvals now 50.6 per cent higher than December 2011.
"This figure was driven by private other dwelling approvals, such as townhouses or apartments, which were 78.4 per cent higher over the year and at their highest level on record in November 2013.
"We're working steadfastly to grow the property and construction sector, implementing a $15,000 Great Start Grant as part of the 2012-2013 Budget which has already seen 4100 grants given to Queenslanders."
Mr McVeigh said the ABS Retail Trade data showed consumer spending accelerated in the four months to
November 2013, with the largest increases on clothing, footwear and personal accessory items.