Queensland consumers the most confident
THE latest Westpac Melbourne Institute Consumer Sentiment Index (CSI) is further evidence that the Queensland economy heading in the right direction, according to treasurer Tim Nicholls.
In Queensland, the CSI is up 3.9% to 110.7 points compared to a national decline in the Index of 2.1%.
Mr Nicholls said the latest figures showed Queensland was a place where businesses could invest, employ and grow with confidence.
"Today's positive CSI figures come on top of a 7.4% rise for Queensland in the index in September and put consumer sentiment at its highest level since August 2010," Mr Nicholls said.
"The results for Queensland are in stark contrast to other states with New South Wales, Victoria and even the boom state of Western Australia reporting a decline in consumer confidence.
"In recent months we've seen retail sales and housing finance approvals growing at faster than the national average," he said.
"Retail turnover in Queensland grew at 4% in 2012-13, more than double the national average and there's been business investment of $60 billion in this State in the year to March.
"Our economy is set to grow at around 4% over the next three years and our employment growth of 2.25% in 2013-14 is double the national growth rate.
"With these positive signs emerging there's never been a better time for businesses to invest, employ and grow in Queensland."