In the latest news we are told that Tasmanian retail sales are on the rebound and improving.
This is good news for the State and will hopefully lead to greater employment and prosperity for Tasmania.
This story from The Mercury.
Retail on the rebound
TASMANIA’S retail sector appears to be turning a corner, with new figures showing it grew faster than the rest of the country in the past two months.
With a growth of 0.8 per cent in September and October the statistics are the strongest the state has seen in 32 months.
The figures, from the Commonwealth Bank Business Sales Indicator, show Tasmanian retail has grown by 1 per cent in the past year.
Tasmania’s growth was the third highest in the country – following the Northern Territory, up 5.4 per cent, and the ACT, up by 2.8 per cent.
Treasurer Lara Giddings said the figures were the early signs of recovery occurring in the state’s retail sector.
“The most recent ABS figures showed that Tasmania has the equal-fastest retail growth in the country, even before the recent interest rate cut takes effect,” she said.
“The retail recovery comes at a time when investor confidence in the Tasmanian retail sector is also very strong.”
Ms Giddings said the recent announcement of a $100 million retail outlet at the Hobart airport and the confirmation of the Hobart Myer development were evidence of major retail investment in the pipeline.
Opposition finance spokesman Peter Gutwein said the State Government could do more to drive business.
“I’m pleased to see this positive result, because Tasmanian retail had hit rock bottom,” Mr Gutwein said.
“Business confidence and conditions have been smashed by the instability of the Green-Labor Government and its complete lack of policies to turn Tasmania’s economy around, so this increase in sales would be a welcome relief from the Government’s poor performance.”
Tasmanian Chamber of Commerce and Industry chief economist Mark Bowles said the figures were promising.
“The statistics are consistent with figures we have been seeing from the ABS since May,” Mr Bowles said.
“You only have to look at Hobart’s skyline, and retail fitouts around the city to see investors have confidence in the medium and long term for the city. Following a year in retail decline this catch-up is welcome.”
Australian Retailers Association executive director Russell Zimmerman said there was a glimmer of hope and traders were cautiously optimistic about Christmas sales.
Mr Zimmermann said a second rate reduction in December would help drive retail sales over the Christmas spending period.
If the Green-Labor Government wanted to do something positive for business conditions, it would adopt our policy to put downward pressure on the price of power and reduce the cost of doing business.