Tue 17 Dec 2019

Tasmanian economy outperforms nation

In good news for the Tasmanian civil construction industry, Australian Bureau of Statistics Gross State Product data for 2018-19 – the primary measure of a state’s economy – shows that the Tasmanian economy is the fastest growing in the country.

In 2018-19 the Tasmanian economy grew 3.6 per cent, the highest growth rate of all of the States and Territories, and nearly double the national GDP growth of 1.9 per cent. It is the fastest economic growth recorded in Tasmania in fifteen years.

Construction GVA (8.8%) recorded the strongest rise of any Tasmanian industry sector, reflecting ongoing pubic infrastructure investment as well as private investment in dwellings and non-dwelling construction. 

CCF Tasmania will continue to advocate on behalf of our members to encourage Government to leverage infrastructure investment to ensure there is a consistent pipeline of work that will keep stimulating the economy and supporting jobs growth.