Queensland Economic Review May 2008
The Queensland economy in review
The Queensland economy continued to outperform the nation as a whole in December quarter 2007. The latest Queensland State Accounts prepared by the Office of Economic and Statistical Research, show that trend gross state product (GSP) rose 0.9% in December quarter 2007, compared with growth of 0.7% in the rest of Australia. This represents the ninth consecutive quarter where economic growth in Queensland has exceeded that in the rest of the nation.
The latest Access Economics Investment Monitor shows the total value of known investment projects in Queensland rose 5.0% in March quarter 2008, to total $129.6 billion. The solid rise in the March quarter reflects a 10.9% (or $8.4 billion) rise in the value of projects currently under consideration or possible.
Revised trend data show that Queensland’s monthly unemployment rate was unchanged at 3.6% in April 2008, equalling the lowest trend unemployment rate in over 30 years and representing the 46th consecutive month that the State unemployment rate has been below that in the rest of Australia (4.2% in April).
PLUS, IN THIS ISSUE . . .
- Sharemarkets
- Interest rates
- Commodity prices
- Major economic indicators by state
For Your Information
The 2008-09 Commonwealth Budget Papers, released on 13 May 2008, provide forecasts for the Australian economy for both the current and coming financial years.This month’s FYI article provides a summary of the main economic indicators, as well as analysis of the factors underpinning the forecasts.
| Release | PDF Size | |
|---|---|---|
| Queensland Economic Review, May 2008 | (535 kB) |
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Last reviewed: May 23, 2008, Last modified: May 23, 2008
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