{"id":118244,"date":"2025-09-04T12:52:22","date_gmt":"2025-09-04T12:52:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/118244\/"},"modified":"2025-09-04T12:52:22","modified_gmt":"2025-09-04T12:52:22","slug":"tasmania-leads-state-economic-growth-in-new-national-abs-data","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/118244\/","title":{"rendered":"Tasmania leads state economic growth in new national ABS data"},"content":{"rendered":"

Tasmania has recorded the nation\u2019s strongest quarterly growth in new ABS data, but analysts are warning the impressive figures mask underlying fragility in the state\u2019s economy.<\/p>\n

The state posted a 4.7% increase in State Final Demand for the June quarter, a measure of demand and spending within the state.<\/p>\n

Tasmania\u2019s rate significantly outpaced other Australian jurisdictions, according to the Australian Bureau of Statistics data released yesterday.<\/p>\n

Analysis by the Tasmanian Chamber of Commerce and Industry suggested the growth surge was primarily driven by the delivery of the new Spirit IV vessel from dry dock in Finland and the ownership acquisition of the new Spirit V.<\/p>\n

\"\"Michael Bailey, CEO of the Tasmanian Chamber of Commerce and Industry<\/p>\n

\u201cThe Spirits kept the economy afloat in the June quarter and the priority now should be unlocking private investment so growth is broadly based and sustainable,\u201d TCCI CEO Michael Bailey said.<\/p>\n

Public investment soared 63.5% in the quarter as TT-Line took ownership of Spirit V, while private investment grew just 2.0% and household consumption remained flat.<\/p>\n

\"\"The new Spirit IV vessel docking in Hobart in August after it was delivered to dock in Scotland earlier this year. Image \/ Hype Productions<\/p>\n

TCCI estimates that without the Spirit acquisition, quarterly growth would have been approximately 0.5% rather than 4.7%.<\/p>\n

Bailey warned against any government moves to increase financial burdens on businesses during the economically sensitive period.<\/p>\n

\u201cThis is absolutely not the time for governments to be contemplating increases in charges, taxes or levies either,\u201d he said.<\/p>\n

The business group called for streamlined planning approvals, faster grid connections and procurement processes that benefit local firms to stimulate private sector investment.<\/p>\n

\"\"Tasmania recorded a 4.7% increase in State Final Demand for the June quarter. Image \/ Pulse<\/p>\n

Recent approvals for the Robbins Island wind farm and Marinus Link transmission project were highlighted as positive long-term developments, but Bailey said the encouragement immediate private investment is vital.<\/p>\n

\u201cTCCI will continue to work with the government and parliament to ensure public investment complements and catalyses private sector growth,\u201d Bailey said.<\/p>\n","protected":false},"excerpt":{"rendered":"Tasmania has recorded the nation\u2019s strongest quarterly growth in new ABS data, but analysts are warning the impressive…\n","protected":false},"author":2,"featured_media":118245,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-118244","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/118244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=118244"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/118244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/118245"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=118244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=118244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=118244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}