Private sector driving Tasmania’s economic recovery

Release Date: 3/03/2020
ABS data out today shows that the private sector is driving Tasmania’s economic recovery.
Tasmanian Chamber of Commerce and Industry CEO, Michael Bailey, said that the figures show the impact of COVID-19 on our economy and that the private sector is driving the recovery.
“COVID-19 has had a massive impact with State Final Demand shrinking by 2.6 per cent during 2020.  However, we need to focus on the positives.  There is clearly an economic recovery underway and it is being driven by the private sector, supported by the policies of the State and Federal Governments,” Mr Bailey said.
“Government support for home builders and for massive investments in infrastructure is now starting to show up as a big jump in business for the building and construction sector.  While there are positive signs for tourism and hospitality, the large scale roll out of the vaccine is going to help restore confidence and rebuild that sector. 
“There is still a lot of work to do and the TCCI is currently consulting with its members on a policy platform that we believe will help grow our economy even further.”

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