Tasmania's private investment boom is continuing to strengthen.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Private new capital investment in the March quarter totalled $367 million in real trend terms, the Australian Bureau of Statistics estimated.
The measure, which covers new capital spending by private businesses except in primary industries, was $7 million (1.9 per cent) stronger than in the December quarter and $42 million (12.9 per cent) stronger than the March quarter of 2018.
"Today's excellent results were driven by nation leading growth in building and structure investment, which grew by 47.4 per cent over the year," state Treasurer Peter Gutwein said on Thursday.
"Results like today's demonstrate why Tasmanian businesses are some of the most confident in the nation, and when businesses are confident they invest and create local jobs.
"This is good news for our building and construction sectors."
Annual growth was the second highest of any state.
IN OTHER NEWS: