Andrew Constance med rel: shoppers show confidence in the NSW economy

More than $21 billion went through NSW cash registers between April and June with the state recording another strong result in retail trade.

Treasurer Andrew Constance said NSW has recorded the highest growth among the mainland states, with sales jumping 0.5 per cent in the June quarter to be 5.8 per cent higher than a year ago.

Nationally, retail trade went down 0.2 per cent for the quarter with NSW the only state to record a positive reading.

“These figures are a welcome boost to the economy and show consumer confidence is continuing to build in NSW,” Mr Constance said.

“Retail spending makes up around a quarter of all spending in the NSW economy, so it’s pleasing to see another strong result.

“More than $21 billion went through NSW cash registers between April and June, around a third of what was spent across the country.

“NSW nominal retail sales growth in annual terms is 8.8 per cent – the strongest among the mainland states for the ninth straight month.

“NSW is powering ahead on a range of economic indicators. Consumer confidence rose by 5.2 per cent in July to be the highest among the mainland states, while business confidence has been positive for 11 consecutive months.

“NSW continues to have the second lowest unemployment rate in the country at 5.7 per cent, contributing around 10,000 of the 16,000 jobs created nationally in June.

“These results haven’t come by accident. They are a clear endorsement of the policies and economic credentials of the NSW Liberals & Nationals Government.”