Newspaper article The Queensland Times (Ipswich, Australia)

Economy Continues to Get Stronger, Although Qld Lags Behind

Newspaper article The Queensland Times (Ipswich, Australia)

Economy Continues to Get Stronger, Although Qld Lags Behind

Article excerpt

ECONOMY-wide spending growth remained firm for the third month in a row, with every state and territory across the country seeing a lift in sales, according to the latest Commonwealth Bank Business Sales Indicator (BSI).

Economy-wide spending grew in October by 0.6 per cent in trend terms, the same figure as the preceding three months, however down from the 0.7-0.8 per cent increases seen earlier in the year from March-June. With growth in the latest month, economy-wide spending has now risen in every month back to mid-2011.

Annual growth of spending also remained steady at 7.5 per cent - similar to growth experienced for the past six months - remaining well above the decade-average of 5.1 per cent.

The more volatile seasonally adjusted measure of the BSI posted a 0.5 per cent gain in October, down from a strong 3.3 per cent increase in September, while annual seasonally adjusted growth eased from an 11-month high of 9.0 per cent to 7.4 per cent. …

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