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New figures from Access Economics show Tasmania’s economy is in a strong position, and business confidence is growing.
However Tasmania’s Chamber of Commerce and Industry (TCCI) is not convinced it is all good news.
Access has upgraded its short-term growth outlook for Tasmania.
A senior economist at TCCI, Richard Dowling, says the upgrade is strongly linked to growing business confidence.
However he says there are signs that is on the slide because of global factors, and high interest rates.
“This report’s probably a little more glowing than we would see the economy,” he said.
Mr Dowling says Access has traditionally had a harsh view of Tasmania’s economy.
“So for Access to have confidence in the Tasmanian economy going forward is actually a really positive sign.”
“I guess the key thing that’s highlighted in the report is it points to a more confident business community and higher levels of business investment to come, which is critical to underwriting the Tasmanian economy,” he said.
The Treasurer, Michael Aird, says the report is good news, and Tasmanians are reaping benefits such as low unemployment.
“Which are the natural consequences of having a resilient and robust economy,” he said.
Mr Aird says Access is responding positively to structural changes in Tasmania’s economy.
“And therefore they’ve come from their more conservative forecasts to what I consider to be a more realistic forecast,” he said.
“They now understand that the Tasmanian economy, particularly with the slowing down of the national economy and higher interest rates, is showing resilience.”
Despite the praise, Access says Tasmania is still well off the pace set by Queensland and Western Australia.
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