Queensland tops nation on key business confidence measure

Queensland recorded the highest business confidence level of all the Australian States in April, according to the latest NAB Monthly Business Survey.

Treasurer Curtis Pitt said the NAB survey for April 2015 was the latest in a string of positive economic indicators for Queensland.

“Queensland’s trend rate for business confidence was +5 points in April, the highest confidence level for any of the states,” Mr Pitt said.

“It shows that Queensland is powering ahead under Labor and that business and industry are responding to our positive economic agenda.

“Confidence continues to grow under our economic policy settings and this is reflected by other measures including retail sales, building construction and merchandise exports.

“Fortunately, Queensland business is not listening to the LNP's negative sentiment about business conditions.

“The State’s business community remains positive in its assessment of Queensland conditions and it’s getting on with the job of creating opportunities for growth.”

Mr Pitt said ABS figures released last week showed Queensland was also leading the nation on retail trade growth.

“The latest ABS retail trade data shows Queensland recorded the strongest real retail growth of any mainland State in the March quarter at 1.9 per cent,” he said.

“This was the single strongest result since the March quarter 2012, the last three months of the previous Labor government.

“It comes on top of ABS data which shows that Queensland merchandise exports were up 10.8 per cent to $11.4 billion in the March quarter, compared to the same period last year.

“There have also been some very encouraging signs in the building construction industry.

“ABS data shows that total number of dwelling approvals in Queensland rose 3.0 per cent in March – up 26 percent on the same time last year.

“The RBA’s decision to cut the cash rate to an historic low of two per cent last week is also expected to increase business confidence.

“The Palaszczuk Labor Government has a positive economic agenda to restore confidence and get more Queenslanders back to work – and we’ll continue to work with business and industry to promote development throughout the State.”

Media contact: Martin Philip 0457 919 548