National Accounts data released by the Australian bureau of Statistics (ABS) has shown Queensland’s economy is quickly returning to pre-disaster levels.

 

Queensland led the national growth rates after recording a 3.5 per cent growth for the June quarter, with the national economy growing by 1.2 per cent.

 

The strong results come as the Queensland Government continues its plan to return the State economy to 5 per cent growth by the end of the 2011-12 financial year.

 

The full state growth rates for the June quarter are as follows:

  • New South Wales: 0.2 per cent
  • Victoria: 0.6 per cent
  • Queensland: 3.5 per cent
  • South Australia:  2.0 per cent
  • Western Australia: 1.0 per cent
  • Tasmania: 0.5 per cent
  • Northern Territory: 1.1 per cent
  • ACT: -0.7 per cent

 

In trend terms, growth during the quarter was strongest for Western Australia (up 2.3%) and Queensland (up 1.8%). The Northern Territory was the weakest, with growth of -0.5%.

 

More information can be found in the ABS website here