Tuesday, 8 August 2017
New data shows business conditions in NSW have now been rated above the national average for 32 consecutive months.
NSW also has the strongest business conditions and confidence in the nation, the NAB Monthly Business Survey for July 2017 showed.
Treasurer Dominic Perrottet said the state’s strong economic performance and infrastructure boom was providing huge opportunities for companies now and into the future.
“Businesses in NSW are both benefiting from and supporting the economic success of our state,” Mr Perrottet said.
“In this year’s State Budget we invested heavily in infrastructure and services for the future of NSW, and businesses are responding with their own investment because they know NSW is the best place in Australia to build and grow.
“When the business community is confident they are more likely to invest and employ more people – and this is what we are seeing in NSW.”
NAB’s business conditions index measures the hiring intentions, profitability, and sales activity of businesses.
The NAB survey follows ABS retail trade data released last week showing strong consumer spending in NSW, increasing 4.7 per cent over the year to June 2017, the equal fastest growth among the mainland states.