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Queensland leading growth
Queensland is outperforming the rest of Australia across a range of economic indicators, according to ABS data.
Lending finance data from the Australian Bureau of Statistics (ABS) showed a 6.9 per cent increase on the same period last year, indicating that investor activity in the Queensland housing market has significantly improved.
Over the March quarter, gross state product was up 1.4 per cent quarterly and 3.6 per cent annually, while the remainder of Australia is up 0.4 per cent quarterly and 2.4 per cent annually.
Treasurer Tim Nicholls said other economic indicators also showed strength.
Business investment over the year in Queensland is up 12.4 per cent compared to the rest of Australia, which experienced a 5.6 per cent decline.
Meanwhile, household consumption in Queensland also strengthened, Mr Nicholls said.
“The fact that Queensland is outperforming the rest of Australia across a range of economic indicators and measures is a further sign our plan to grow a four-pillared economy is working,” he said.
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