QLD growing toward nation's powerhouse state

QUEENSLAND continues to show strong economic growth in a bid to position itself as the nation's powerhouse state.

Treasurer Tim Nicholls said on today the state's economy had shown the strongest growth in the nation over the past year.

"The Queensland economy grew by 4.1% during this period compared to 1.9% for the rest of Australia," he said.

"Looking at figures for the September quarter, Queensland's Gross State Product increased by 1% in trend terms, double the growth of 0.5% recorded by the rest of Australia.

"Queensland has now outperformed the rest of Australia for the past 10 straight quarters showing the state's position as the economic powerhouse of the nation."

Mr Nicholls said household consumption was driving growth with gross state expenditure rising 0.3% in the September 2013 quarter to be 1.3% higher over the year.

"Export growth was also strong with a 3.1% increase in exports of goods and services overseas and interstate over the year to September 2013," he said.

"What we are seeing is business regaining confidence and committing to investing, employing and growing in Queensland."


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