QUEENSLAND OUTPERFORMS OTHER STATES

Written on the 28 April 2014

QUEENSLAND OUTPERFORMS OTHER STATES A NEW report by Deloitte has highlighted the strength of the Queensland economy, with retail and housing construction proving to be top performers.

The Deloitte Access Economics Business Outlook released today, analyses the business environment in Australia and forecasts prospective growth opportunities.

Partner Chris Richardson says although mining profits are a shadow of glory days, iron ore, gas and coal will surge in coming years.

“Australia is an economy in transition, with its economic strength gradually shifting from the resource states back towards the south and east.

“Yet that transition will be patchy, particularly thanks to the resilience of project spending in Queensland and the top end.”


The report shows that Queensland is the only state in Australia continuing to spend on engineering construction, with money being invested in numerous gas projects and exports.

“Queensland has still got gas in its tank with the mega gas developments still underway and is also projected to be an outperformer in both retail and housing construction, with our forecasts seeing the state accounting for a rising share of these growing national markets,” he says.

It also indicates that the state will be an “outperformer” in retail and homebuilding in the next two years, in comparison to the rest of the country.

Queensland treasurer Tim Nicholls says despite the promising results, more infrastructure development is required.

“It also confirms that Queensland will have the fastest growing state economy by 2014-15 and that we are the only state where engineering construction spending is also rising.

“We know there is more to do and that not all Queenslanders are yet experiencing the full benefits of this growth,” he says.

The state’s population is above the national average, but lags behind Western Australia and Victoria – suggesting new homes must be built to encourage growth.

Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter