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Tuesday, May 21, 2024

Tasmanians back local business

Tasmanians are being congratulated for continuing to back local business, with the latest ABS data showing retail trade grew by 4.0% in June – the second highest growth rate in the country.

“In June 2020, retailers recorded $630 million in trade – 13.8% higher than a year earlier, and higher than national growth of just 8.5% in seasonally adjusted terms,” said Tasmanian Minister for Finance, Michael Ferguson.

“While these are challenging times, the latest figures demonstrate Tasmanians’ commitment to supporting local business, with cafes, restaurants and takeaways seeing 51 per cent growth in monthly trade.

“We know Tasmania entered the pandemic from a position of strength, with the latest CommSec Report ranking our state first on retail trade, with spending 14.8% above decade-average levels in the March quarter, with our strong relative population growth and home building key supports for retail spending.”

Mr Ferguson said Tasmania would continue to follow Public Health advice and maintain its management strategies to keep its residents safe and prevent a second wave and COVID restrictions.

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