The Tasmanian Chamber of Commerce and Industry today released the complete findings from the Q2 2016 Tasmanian Survey of Business Expectations (TSBE).
TCCI’s media release from 7 July (
North West business confidence tanks) outlined the significant loss of business confidence on the North West Coast with over 46% of respondents indicating a negative view of the Tasmanian economy.
This is compared with 14.8% for the North, whose view of the Tasmanian economy remained reasonably positive but does have signs of weakening.
Business confidence in the South is a different story with 43.5% stating their expectation of the Tasmanian economy for quarter to June 2016 was positive compared to 17.4% who had low expectations of the economy over the same period.
The results show the same serious concerns for the North West Coast with expectations of the Tasmanian economy at its lowest point since March 2014.
‘We must remember that Tasmania is still sitting third regarding business confidence in the country, but bushfires floods and changes to dairy and poppies are all factors that are causing this regional dip on the North West Coast,’ said TCCI CEO Michael Bailey.
‘We’re seeing solid results in the North, strong in the South, but the real issue is with the North West, which is very much a regional issue due to regional factors.‘
‘We know that this will change over time, but what we need to see now is good government strategic thinking. We need to make sure the dairy farmers are protected and that Government infrastructure promises such as the Northern Cities project are rolled out quickly.
‘What better way to lift confidence than to see local activity.’
Contact: TCCI Chief Executive Michael Bailey – 0437 322 338