Queensland consumer sentiment up despite national fall

Published Thursday, 14 April, 2016 at 10:27 AM

Treasurer, Minister for Aboriginal and Torres Strait Islander Partnerships and Minister for Sport
The Honourable Curtis Pitt

Queensland’s consumer sentiment has rebounded, bucking a national fall, as reported in the latest Westpac-Melbourne Institute Consumer Sentiment Index.

Queensland’s consumer sentiment increased by 7.4 per cent in April, despite a national fall of 4 per cent. It followed a slight 2.6 per cent drop last month.

Treasurer Curtis Pitt said Queensland was the stand-out state, recording an increase in consumer sentiment of 7.4 per cent boost. The only other state to record an increase was Victoria with 0.7 per cent.

“Queensland consumers have good cause for confidence about our economy with jobs on the rise,” Mr Pitt said.

“More than 71,000 jobs have been created in Queensland since the last election and the trend unemployment rate is at a two-year low.

“Queenslanders are clearly more confident about the future and more willing to spend with local businesses, but there are patches where this isn’t so.

“Our economy really turned around last year after three tough years of job-cutting and negativity from the LNP and this year’s Budget will be about continuing growth and bolstering confidence.

“I’m focussed on partnering with the private sector to deliver new investment in areas of transition like Mackay and Rockhampton and creating new opportunities in Townsville for people made redundant by Queensland Nickel.

“As a Treasurer from regional Queensland, I won’t shy from this challenge.”

The Westpac report came just one day after the National Australia Bank’s monthly business survey showed Queensland’s business confidence remained the highest of any mainland State for the ninth month in a row.

“Today’s figures put Queensland’s consumer sentiment back just behind NSW and Victoria,” Mr Pitt said.

“Higher confidence was also reflected in figures this week which showed the number of Queenslanders getting finance approved for buying their own home has increased for the sixth month in a row.”

 

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