Queensland Business Outlook December 2018

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Queensland Business Outlook December 2018

Sunshine State shadows southern states

Queensland has helped propel Australia into becoming the world’s second largest exporter of gas. This stronger economic performance has also supported employment growth in the State which has tracked at or above the national average since 2017.

Both the public and private sectors have driven the expansion of the State’s economy at a faster rate than the rest of Australia. Fortuitously, the lower Aussie dollar has also encouraged an increase in tourism, and delivered a boost to the consumer-related sectors given the current low wage growth environment.

Year-on-year to June 2018, State Final Demand increased overall by 3.4% boosted by a healthy 26.2% growth in engineering construction and growth in household consumption, employment and general government consumption spending.

Engineering construction has been supported by the infrastructure pipeline of $46 billion, announced by the State Government to spread across the next four years, which includes major transport projects making up a fair chunk of the ‘spend’. Brisbane’s $5 billion Cross River Rail and various upgrades to the Bruce Highway are some key initiatives.

Queensland Business Outlook December 2018

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