Katy Gallagher is taking credit for the latest data from the Commonwealth Bank showing Canberra’s economy is booming (if the cranes on the horizon weren’t telling you that already).
Dwelling construction, new home loans and population growth in the ACT are all reported to be above decade averages and ahead of other jurisdictions, which are assessed on eight key indicators of economic growth, retail trade, equipment investment, unemployment, construction work done, population growth, housing finance and dwelling commencements.
“The encouraging results of today’s report show the Stanhope Government continues to support a strong economy for the ACT community,” Ms Gallagher said.
“The outlook for ACT retail spending remains positive. The latest retail trade data indicates turnover increased by 2.4 per cent in the ACT year-on-year to February 2011, and the growth rate was slightly above the national growth rate in the last four months.”
There are, however, concerns about what the commonwealth budget will do to Canberra’s economy.
A bunch of redundancy payouts hitting the economy will probably be pretty good.