Queensland Retail Turnover 3.6 % Up Year To January 2017

Queensland Retail Turnover 3.6 % Up Year To January 2017

Queensland Treasurer Curtis Pitt

$61.4 Billion Retail Spend By Queenslanders

Victor P Taffa

Data released by the Australian Bureau of Statistics (ABS) today shows growth in retail trade in Queensland ahead of both New South Wales (NSW) and Victoria as well as higher than the national average.

Treasurer and Minister for Trade and Investment Curtis Pitt said the data show trend nominal retail turnover in Queensland was 3.6 % higher over the year to January, which is an encouraging sign for consumer confidence and our economy.

“This 3.6 % put Queensland ahead of both NSW at 3.4%, Victoria at 3.4%, and ahead of the national average of 3.2%.” Treasurer Pitt said.

“Growth in Queensland’s retail turnover was driven by increased expenditure on food up 4.3% although all retail components except department stores rose over the year to January 2017.”

“Overall Queenslanders spent $5.2 Billion in January, with the monthly growth also driven largely by increased spending on food.” Treasurer Pitt said.

Treasurer Pitt said the latest ABS data underlined continued growth in Queensland’s retail trade.

Treasurer Pitt said the government remained committed to its focus on boosting the state’s business sector to encourage more inclusive growth and create jobs.

“We are confident we have the right economic strategies in place as the state’s diverse economy transitions from the post-mining boom.” Treasurer Pitt said.

“We also know that some areas of regional Queensland are still doing it tough which is why we have implemented a suite of programs, together worth more than $1 Billion, that focus on supporting business and creating jobs.”

“These include the $100 Million Back to Work regional jobs program including the extended Back to Work Youth Boost plan, the $375 Million Building our Regions program, the $200 Million Jobs and Regional Growth package, $200 Million Works for Queensland program and $180 Million Significant Regional Infrastructure Projects Program.”

“Importantly almost half of the Government’s $10.7 Billion investment in job-creating infrastructure in 2016-17 has been allocated for regional Queensland to share in our state’s economic growth.” Treasurer Pitt said.