Queensland’s consumer sentiment has continued to rebound, recording a gain of 2.1 per cent in May according to the Westpac-Melbourne Institute Consumer Sentiment Index.
Treasurer Curtis Pitt said the Palaszczuk Government’s Economic Plan had boosted confidence among both businesses and consumers.
“Consumer sentiment is continuing to recover in Queensland as more Queenslanders feel confident about the State’s growing economy and our investment in jobs,” Mr Pitt said.
“The latest consumer sentiment result of 96.7 on the Westpac-Melbourne Institute index is 3.9 per cent higher than when the LNP left office in 2015.
“This month’s positive result is the second rise in two months and we’re determined to continue the good work.
“The survey also showed a 10.5 per cent increase in the ‘Economic Conditions next 12 months’ sub-index for Queensland.
“With more than 60,000 jobs created in Queensland since the last election, and the trend unemployment rate at a two-year low, Queenslanders are more confident about the future and more willing to spend with local businesses.
“Since last year’s State election almost 2,000 full-time jobs have been created every month, compared to the more than 300 full-time jobs lost every month under the previous Government.
“Of course this is not true in all areas of our state, especially in regional Queensland, as we transition out of the mining boom at different rates.
“But it is more evidence that our economy is strengthening, despite the best efforts of the LNP and aligned commentators who continue to talk it down.
“Queensland is still forecast to have the fastest growing economy next financial year.
“Queensland business confidence has remained the highest of any mainland State for 10 months in a row since last year’s State Budget, according to the National Australia Bank’s Monthly Business Survey.”