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Economy bouncing back from covid

Money

The Australian economy is now within 2 per cent of pre-pandemic growth, after recording its strongest six months of growth in history: 3.1 per cent.

Australians spent more domestically than ever before.

Tasmania's final demand grew by 3.3 per cent in the December quarter, the second-strongest result in the country.

It was underpinned by private investment growth of 8.4 per cent, the highest of all the states.

Premier Peter Gutwein's taking some of the credit for Tasmania's bounceback. 

"Government investment also grew at the second highest rate in Australia at 5.7 per cent in the quarter, because at the height of the pandemic last year, we knew it was the Government’s role to step in to support our economy and drive our rebuild, which is exactly what we did," said Mr Gutwein. 

Labor has also welcomed the positive numbers, albeit with a warning to the Liberals not to allow the state to slump once jobkeeper ends. 

“With JobKeeper winding back and a failure to deliver key infrastructure projects the Government must not sit on its hands," said Shadow Treasurer David O'Byrne.  

“Tasmania’s jobs recovery is behind all of the states except for Victoria, unemployment rates outside Hobart are among the worst in the country and Tasmanian wages are $12,000 below the national average."