NSW’S econ­omy steam­ing ahead

Tweed Daily News - - NEWS -

NSW has fur­ther ce­mented its place as the num­ber one state for busi­ness, with new fig­ures re­leased on Thurs­day show­ing cap­i­tal ex­pen­di­ture in NSW was the high­est in the na­tion for the first time in more than a decade.

Cap­i­tal ex­pen­di­ture in NSW reached $6.9 bil­lion in the June quar­ter in real terms – higher than any other state for the first time since 2005. In an­nual av­er­age terms, cap­i­tal ex­pen­di­ture in NSW in­creased by 0.4% while in the rest of Aus­tralia it de­clined 13%.

NSW Trea­surer Do­minic Per­rot­tet said the fig­ures from the ABS – which cover cap­i­tal ex­pen­di­ture in equip­ment, fac­to­ries and other build­ings – showed cap­i­tal ex­pen­di­ture in the rest of Aus­tralia re­mained in de­cline.

“Busi­nesses do not in­vest for the sake of it; they in­vest be­cause they are con­fi­dent in their trad­ing con­di­tions, con­fi­dent in their out­look, and con­fi­dent in their govern­ment,” Mr Per­rot­tet said.

“Our econ­omy is steam­ing ahead and busi­nesses are vot­ing with their feet.”

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