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Australian Bureau of Statistics (ABS) data out today highlights the Territory’s strong economy with the NT recording strong growth in residential building approvals and continuing to lead the nation on retail trade growth.

 

Treasurer, Delia Lawrie, said the ABS figures highlight the Territory continues to lead the nation on retail trade with 11.4 per cent growth year on year - more than double the national figure of 5.2 per cent and well ahead of any other jurisdiction. 

 

“Strong retail trade is an important indicator of confidence in our economy and
4.9 per cent growth over September compared to the same month last year highlights Territorians remain confident and are spending, which supports retail jobs and the sector,” Ms Lawrie said.

 

“In seasonally adjusted terms, $216 million was spent across the retail sector over the month of September, $10 million more than for the same time last year.”

 

Over the month of September Territory retail trade was up 4.9 per cent compared to September last year, moderating slightly down by 0.7 per cent from August.

ABS statistics also report the Territory is recording 13.3 per cent year on year growth in residential building approvals.

 

The year on year growth was driven by private house approvals which increased by 47.9 per cent and public house approvals up by 57.3 per cent.

 

“New housing construction is driving strong growth in residential building approvals, up 41.2 per cent in September this year compared to the same month last year.

 

“The strong growth in building approvals is supported by land release at Palmerston, the Territory’s Buildstart $14,000 grant scheme and construction of new public housing under the Stimulus Nation Building and Jobs Plan,” Ms Lawrie said.

 

 

Media Contact: Campbel Giles 0407 972 900

Related files:
091104 Reta and building approvals.pdf ( 306.56 kb )